Globalstar, Inc.
41.54-0.25 (-0.6%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · GSAT · USD
Key Stats
Market Cap
5.26BP/E (TTM)
-Basic EPS (TTM)
-0.40Dividend Yield
0%Recent Filings
10-Q
Q2 FY2025 results
Globalstar swung to an operating profit of $6.1M in Q2 FY2025 ended June 30, 2025, up from a $1.4M loss y/y, while total revenue climbed 11% y/y to $67.1M on surging wholesale capacity services that hit $42.4M, a 24% y/y jump fueled by reimbursements under updated Apple agreements. Yet YTD through six months, operations posted a $2.4M loss versus $6.1M y/y, with revenue up 9% to $127.2M; diluted EPS held at -$0.03 on 126.5M shares, consistent with no anti-dilution. Cash from operations soared to $209.7M on $124.7M infrastructure prepayments, funding $271.8M in capex for the Extended MSS Network, leaving $308.2M in cash against $400.2M debt (fees up to 9%) and full revolver availability. No non-GAAP metrics disclosed in the 10-Q. Satellite anomalies pose risks to network reliability.
8-K
Q2 revenue up 11%
Globalstar reported Q2 2025 revenue of $67.1 million, up 11% from last year, fueled by wholesale capacity services and Commercial IoT growth, while net income swung to $19.2 million from a prior loss. Adjusted EBITDA rose to $35.8 million with a 53% margin, bolstered by a $1.9 million CARES Act credit, yet offset by XCOM development costs. The company signed a SpaceX launch deal for nine replacement satellites in 2026 and advanced C-3 network expansion with new antennas in Texas, Japan, and Canada. Revenue will hit $260–$285 million for 2025.
8-K
Globalstar amends charter for officer protection
Globalstar stockholders approved an amendment to its Certificate of Incorporation at the May 20, 2025 annual meeting, enabling officer exculpation under Delaware law and filing it effective immediately. They also elected directors Keith O. Cowan, Benjamin G. Wolff, and Dr. Paul E. Jacobs for terms until 2028, ratified Ernst & Young as auditors, and greenlit the Amended Thermo Guaranty Agreement. Votes cleared required thresholds, including majority-of-minority support. Governance tightened yet streamlined.
10-Q
Q1 FY2025 results
Globalstar's Q1 revenue climbed 6% year-over-year to $60.0M, fueled by an 18% surge in wholesale capacity services to $36.7M from Apple partnerships, while subscriber services dipped slightly amid SPOT and Duplex declines. Operating loss widened to $8.5M from $4.7M, pressured by a $7.0M satellite disposal charge, yet net loss narrowed to $17.3M or $(0.16) per diluted share on 126.5M shares, versus $13.2M or $(0.13) last year—reconciled with preferred dividends. Cash from operations hit $51.9M, down to $241.4M balance after $190.6M capex for network upgrades, with free cash flow at $(138.7M) (derived). Debt stands at $502.7M carrying value, bolstered by $380.1M deferred revenue; no non-GAAP metrics disclosed in the 10-Q. Satellite failures pose ongoing risks to coverage.
8-K
Q1 revenue up 6% to $60M
Globalstar reported Q1 2025 revenue of $60.0 million, up 6% from last year, fueled by wholesale capacity services, while net loss widened to $17.3 million amid higher operating costs. Adjusted EBITDA rose to $30.4 million with a 51% margin, supported by strong cash generation of $51.9 million from operations. The company launched a two-way satellite IoT solution and opened a new Satellite Operations Control Center, bolstering innovation. Yet tariffs pose limited risks to device sales. Full-year guidance holds at $260–$285 million revenue.
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