Earnings ·
Reports Q3 revenue of $70.9M and net loss of $15.7M; FCC approves Amazon acquisition
GSATGlobalstar, Inc.
Globalstar reported third-quarter 2026 total revenue of $70.9 million, a decrease from the prior year's $73.8 million, driven by lower wholesale capacity and subscriber service revenues offset by growth in Commercial IoT activations. The company posted a net loss of $15.7 million compared to a net income of $1.1 million in the same period last year, primarily due to higher interest expense from non-cash imputed interest on the 2024 Prepayment Agreement and increased operating expenses related to the pending Amazon transaction. Adjusted EBITDA declined to $30.3 million from $37.6 million. Operationally, Globalstar successfully launched its first set of HIBLEO-4 replacement satellites and received key regulatory authorizations for its next-generation C-3 constellation in the U.S. and Germany. Additionally, the FCC Space Bureau approved Amazon's application to acquire Globalstar's FCC licensing, a critical step toward closing the merger expected in 2027. The company suspended future financial outlooks and conference calls pending the transaction's completion. Globalstar operates as a global telecommunications provider delivering satellite and terrestrial connectivity solutions.