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Dec 31, 2022
Globalstar Q4 2022 Earnings Report
Globalstar's Q4 2022 financial results were announced, showcasing revenue growth and strategic advancements.
Key Takeaways
Globalstar reported a 20% increase in total revenue for Q4 2022, driven by growth in service revenue and subscriber equipment sales. The company's net loss decreased significantly, and Adjusted EBITDA increased by 48%. Strategic advancements include terrestrial authorization in Spain and progress in satellite procurement.
Total revenue increased by 20% compared to Q4 2021, driven by service revenue and subscriber equipment sales.
Service revenue increased by 22%, primarily due to wholesale capacity services and commercial IoT growth.
Net loss decreased significantly from $24.0 million to $5.3 million year over year.
Adjusted EBITDA increased by 48% to $18.3 million, driven by higher revenue and controlled operating expenses.
Revenue by Segment
Forward Guidance
Globalstar anticipates continued revenue growth and rapidly expanding Adjusted EBITDA, positioning the Company to execute as a telecom infrastructure provider across its four value drivers.
Positive Outlook
- Continued revenue growth expected.
- Rapidly expanding Adjusted EBITDA.
- Positioned to execute as a telecom infrastructure provider.
- Spain authorized Globalstar to provide complementary terrestrial services.
- Completed preliminary design review with MDA and Rocket Lab for satellite procurement.
Challenges Ahead
- n/a
Historical Earnings Impact
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Avg. Return Before/After Earnings
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