Recent Updates — GSAT

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.

Globalstar reported second quarter 2026 total revenue of $64.8 million and a net loss of $26.5 million, compared to prior year results of $67.1 million in revenue and $19.2 million in net income. Adjusted EBITDA decreased to $26.0 million from $35.8 million in the same period last year. The company achieved record high Commercial IoT subscriber activations, driving a 20% increase in gross activations on a trailing twelve-month basis. Progress continues on the previously announced merger with Amazon, which is expected to close in 2027 following the expiration of the HSR waiting period in July 2026 and pending remaining regulatory approvals from the FCC and international authorities. Globalstar suspended future earnings conference calls and forward-looking guidance updates due to the pending transaction.