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GSAT

Globalstar, Inc.

GSAT

Globalstar, Inc. • NASDAQ
$60.75 ▼ -0.48% (-0.29)
Market Cap $7.71 B
52w High $65.52
52w Low $17.24
Dividend Yield 0%
P/E -132.07
Volume 216.15K
Outstanding Shares 126.84M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $73.845M ▲ $16.253M ▼ $-1.583M ▼ -2.144% ▼ $-0.01 ▼ $34.912M ▲
Q2-2025 $67.148M ▲ $38.642M ▼ $19.208M ▲ 28.605% ▲ $0.13 ▲ $29.156M ▲
Q1-2025 $60.032M ▼ $47.861M ▲ $-17.331M ▲ -28.87% ▲ $-0.16 ▲ $20.814M ▲
Q4-2024 $61.177M ▼ $43.449M ▲ $-50.219M ▼ -82.088% ▼ $-0.42 ▼ $18.301M ▼
Q3-2024 $72.307M $41.173M $9.934M 13.739% $0.058 $31.914M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $346.293M ▲ $2.162B ▲ $1.798B ▲ $364.825M ▲
Q2-2025 $308.226M ▲ $1.909B ▲ $1.548B ▲ $360.88M ▲
Q1-2025 $241.411M ▼ $1.729B ▲ $1.385B ▲ $344.344M ▼
Q4-2024 $391.164M ▲ $1.71B ▲ $1.351B ▲ $358.883M ▼
Q3-2024 $51.916M $917.561M $523.468M $394.093M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.09M ▼ $236.021M ▲ $-214.097M ▼ $15.94M ▲ $38.067M ▼ $22.46M ▼
Q2-2025 $19.208M ▲ $157.877M ▲ $-81.206M ▲ $-10.618M ▲ $66.815M ▲ $79.468M ▲
Q1-2025 $-17.331M ▲ $51.864M ▼ $-190.582M ▼ $-11.406M ▼ $-149.753M ▼ $-138.718M ▼
Q4-2024 $-50.219M ▼ $340.657M ▲ $-152.851M ▼ $152.267M ▲ $339.248M ▲ $302.828M ▲
Q3-2024 $9.934M $36.003M $-37.215M $-11.33M $-12.418M $45.293M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Commercial loT
Commercial loT
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
Product
Product
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Service
Service
 $120.00M ▲$60.00M ▼$60.00M ▲$70.00M ▲
Services Duplex
Services Duplex
 $10.00M ▲$0 ▼$0 ▲$0 ▲
Services Other
Services Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Services SPOT
Services SPOT
 $20.00M ▲$10.00M ▼$10.00M ▲$10.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Income has been climbing steadily over the past several years, with revenue and gross profit both moving in the right direction. Operating performance has improved from meaningful losses to roughly breakeven in the most recent couple of years, which suggests better cost control and operating leverage as the business scales. That said, the company is still reporting net losses, so profitability is not yet firmly established. Overall, the trend is improving, but the business is not yet at a stable, consistently profitable stage.

Balance Sheet

Balance Sheet The balance sheet has strengthened, with total assets and cash both growing sharply in the most recent year, giving the company more financial flexibility. Debt has also increased, which adds financial obligations and interest costs, but equity has held up, indicating that the capital structure remains balanced rather than overly stretched. The business still operates in a capital‑intensive space, so swings in assets, debt, and equity will likely remain a feature. On balance, Globalstar now has more resources to work with, but also greater responsibility to manage its higher debt load carefully.

Cash Flow

Cash Flow Cash generation has improved meaningfully. Operating cash flow has turned from modest levels to a much stronger positive position, indicating that the core business is now contributing real cash rather than consuming it. Free cash flow has shifted from being occasionally negative or barely positive to clearly positive, even while the company continues to invest heavily in its network and technology. This suggests better efficiency and a healthier cash engine, though the need for ongoing investment in satellites and related infrastructure remains a structural reality.

Competitive Edge

Competitive Edge Globalstar occupies a specialized niche in satellite communications, supported by its dedicated low‑Earth‑orbit constellation and ground network. A key strength is its exclusive licensed spectrum, which gives it a defensible position in private wireless and 5G‑related applications where reliability and interference protection are critical. The long‑term partnership with a major smartphone maker for emergency satellite services provides both validation and recurring business, reinforcing its relevance in consumer safety and connectivity. Competition from larger satellite players and terrestrial networks remains intense, but Globalstar’s spectrum rights, infrastructure, and partnerships form a meaningful moat in its chosen segments.

Innovation and R&D

Innovation and R&D The company is leaning heavily into innovation, combining satellite connectivity with terrestrial technologies like its dedicated 5G spectrum band and advanced radio access solutions. Its work on private 5G networks, especially in industrial and logistics settings, positions it to tap into new enterprise use cases that value secure, high‑capacity wireless coverage. In satellite IoT and personal safety devices, Globalstar continues to expand its product lineup and capabilities, aiming for deeper integration into asset tracking and remote monitoring. The next‑generation satellite constellation and commercialization of its new RAN technology are both high‑impact projects: they offer significant upside if executed well, but also introduce technical, timing, and adoption risk.

Summary

Globalstar is transitioning from a small, loss‑making satellite operator toward a more diversified connectivity platform that blends satellites, licensed spectrum, and private 5G solutions. Financially, revenue and margins have improved, cash flow is healthier, and the balance sheet is stronger, even as debt has risen and net income remains negative. Strategically, its exclusive spectrum holdings, established satellite network, and flagship smartphone partnership create a differentiated position that is hard for new entrants to replicate. Future performance will depend heavily on successful deployment of the new satellite constellation, broader adoption of its private 5G and IoT offerings, and careful management of capital in a highly capital‑intensive industry.

NEWS

November 18, 2025 · 7:13 AM UTC

Globalstar Reaches Key Milestone in $2 Billion ITU Pledge, Completing Over Half of Its Commitment to Advance Global Connectivity

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November 6, 2025 · 4:15 PM UTC

Globalstar Announces Third Quarter 2025 Financial Results

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November 4, 2025 · 9:16 AM UTC

Globalstar Announces Major Expansion of Ground Infrastructure Across Brazil, with Eight New C-3 Antennas Being Installed at Four Separate Locations

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October 30, 2025 · 9:16 AM UTC

Globalstar, Inc. Earnings Release and Call Notice

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October 21, 2025 · 9:16 AM UTC

Globalstar Announces Commercial Rollout of RM200M Two-Way Satellite IoT Module

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