GSAT

MKT CAP:$11B

Globalstar, Inc.

Market Cap

$11B

Communication Services·Telecommunications Services·🇺🇸 United States·NASDAQ

Communication·Telecommunications·🇺🇸·NASDAQ

Stock Price

$80.35+$16.36 (+25.57%)

Apr 21, 2026

Company Details

Globalstar, Inc. provides mobile satellite services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recrea...

CEO

Paul E. Jacobs

IPO Date

Nov 2, 2006

Website

www.globalstar.com

Key Metrics TTM

Revenue

$261M

+14.9% YoY

Net Income

-$38M

EPS (Diluted)

-$0.39

Free Cash Flow

$289M

Revenue / Share

$2.04

Gross Margin

66.7%

Operating Margin

1.1%

Net Margin

-14.7%

FCF Margin

110.8%

P/S

40.4x

P/E

—

Earnings Reports

Q3 2025

May 14, 2026

PENDING

Q2 2025

Aug 7, 2025

$67M+11.2%EPS $0.13

Q1 2025

May 8, 2025

$60M+6.3%EPS -$0.16

FY 2024

Feb 28, 2025

$250M+11.9%EPS -$0.59

Q4 2024

Feb 28, 2025

$61M+16.7%EPS -$0.42

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$33M	$19M	-$15M
Q4 21	$34M	$21M	-$16M
Q1 22	$33M	$19M	-$14M
Q2 22	$37M	$23M	-$11M
Q3 22	$38M	$14M	-$187M
Q4 22	$41M	$27M	-$9M
Q1 23	$59M	$43M	$7M
Q2 23	$55M	$37M	$3M
Q3 23	$58M	$40M	$2M
Q4 23	$52M	$34M	-$12M
Q1 24	$56M	$38M	-$5M
Q2 24	$60M	$40M	-$1M
Q3 24	$72M	$51M	$9M
Q4 24	$61M	$39M	-$4M
Q1 25	$60M	$39M	-$9M
Q2 25	$67M	$45M	$6M

Valuation

Quarter	P/S	P/E
Q3 21	37.6x	—
Q4 21	24.7x	—
Q1 22	30.7x	—
Q2 22	25.9x	—
Q3 22	32.3x	—
Q4 22	23.1x	—
Q1 23	17.8x	—
Q2 23	15.4x	—
Q3 23	16.2x	—
Q4 23	26.4x	—
Q1 24	17.2x	—
Q2 24	13.4x	—
Q3 24	9.7x	—
Q4 24	16.4x	—
Q1 25	10.4x	—
Q2 25	11.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	$51M	$33M
Q4 21	$25M	$10M
Q1 22	$8M	-$3M
Q2 22	$13M	$1M
Q3 22	$11M	$8M
Q4 22	$32M	$17M
Q1 23	$23M	$16M
Q2 23	$20M	-$92M
Q3 23	$26M	$11M
Q4 23	$6M	-$2M
Q1 24	$30M	-$20M
Q2 24	$37M	$33M
Q3 24	$36M	$45M
Q4 24	$341M	$303M
Q1 25	$52M	-$139M
Q2 25	$158M	$79M

Capital Expenditures

Quarter	CapEx
Q3 21	$18M
Q4 21	$15M
Q1 22	$10M
Q2 22	$12M
Q3 22	$3M
Q4 22	$15M
Q1 23	$7M
Q2 23	$113M
Q3 23	$14M
Q4 23	$8M
Q1 24	$50M
Q2 24	$4M
Q3 24	$9M
Q4 24	$38M
Q1 25	$191M
Q2 25	$78M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-0.4%	-0.1%
Q4 21	+3.9%	+3.6%
Q1 22	+21.7%	+0.6%
Q2 22	+21.5%	+4.0%
Q3 22	+15.4%	+373.9%
Q4 22	+19.8%	+1.3%
Q1 23	+78.9%	+10.7%
Q2 23	+49.7%	+8.9%
Q3 23	+53.3%	-75.2%
Q4 23	+26.9%	+27.2%
Q1 24	-3.7%	+18.9%
Q2 24	+9.6%	+17.8%
Q3 24	+25.4%	+12.9%
Q4 24	+16.7%	+1.6%
Q1 25	+6.3%	+12.0%
Q2 25	+11.2%	-1.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$858.0K	2.6%
Q4 21	$0	0.0%
Q1 22	$1M	3.8%
Q2 22	$1M	3.1%
Q3 22	$2M	5.5%
Q4 22	$6M	15.3%
Q1 23	$4M	6.4%
Q2 23	$3M	4.6%
Q3 23	$4M	7.5%
Q4 23	$12M	22.6%
Q1 24	$9M	16.3%
Q2 24	$9M	15.2%
Q3 24	$8M	11.4%
Q4 24	$9M	14.6%
Q1 25	$7M	11.6%
Q2 25	$6M	8.9%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 21	—	—	$9M
Q4 21	—	—	$12M
Q1 22	—	—	$9M
Q2 22	—	—	$10M
Q3 22	—	$11M	—
Q4 22	—	—	$14M
Q1 23	—	$13M	—
Q2 23	—	$13M	—
Q3 23	—	$16M	—
Q4 23	$1M	$23M	—
Q1 24	—	$20M	—
Q2 24	—	$20M	—
Q3 24	—	$19M	—
Q4 24	—	$21M	—
Q1 25	—	$19M	—
Q2 25	—	$16M	—

Revenue Segments

Quarter	Commercial loT	Product, Duplex	Product, Other	Product, SPOT	Services, Duplex	Services, Other	Services, SPOT	Subscriber Equipment, Commercial loT
Q3 21	$4M	$265.0K	$41.0K	$3M	$10M	$2M	$12M	$2M
Q1 22	$5M	$130.0K	$17.0K	$1M	$6M	$7M	$11M	$2M
Q2 22	$5M	$143.0K	$27.0K	$2M	$7M	$10M	$12M	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$12M	$0	$12M
Q2 22	$13M	$0	$13M
Q3 22	$15M	$0	$15M
Q4 22	$32M	$0	$32M
Q1 23	$20M	$0	$20M
Q2 23	$65M	$0	$65M
Q3 23	$64M	$0	$64M
Q4 23	$57M	$0	$57M
Q1 24	$59M	$0	$59M
Q2 24	$64M	$0	$64M
Q3 24	$52M	$0	$52M
Q4 24	$391M	$0	$391M
Q1 25	$241M	$0	$241M
Q2 25	$308M	$0	$308M
Q3 25	$346M	$0	$346M
Q4 25	$447M	$0	$447M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	179M	+0.1%	+7.4%
Q4 21	179M	+0.1%	+7.3%
Q1 22	180M	+0.2%	+7.0%
Q2 22	180M	+0.1%	+0.4%
Q3 22	180M	+0.0%	+0.4%
Q4 22	181M	+0.3%	+0.6%
Q1 23	181M	+0.4%	+0.8%
Q2 23	181M	+0.1%	+0.8%
Q3 23	184M	+1.3%	+2.0%
Q4 23	188M	+2.3%	+4.0%
Q1 24	188M	+0.3%	+3.9%
Q2 24	188M	+0.1%	+3.9%
Q3 24	191M	+1.4%	+4.0%
Q4 24	126M	-33.9%	-32.8%
Q1 25	126M	+0.2%	-32.8%
Q2 25	128M	+1.1%	-32.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$94.3K	346
Q4 21	$104.8K	329
Q1 22	$99.6K	329
Q2 22	$111.9K	329
Q3 22	$114.4K	329
Q4 22	$124.4K	332
Q1 23	$176.6K	332
Q2 23	$165.9K	332
Q3 23	$173.7K	332
Q4 23	$150.6K	348
Q1 24	$162.3K	348
Q2 24	$173.5K	348
Q3 24	$207.8K	348
Q4 24	$157.3K	389
Q1 25	$154.3K	389
Q2 25	$172.6K	389

Revenue / Employee