Globalstar signs $327M satellite contract, Q4 adjusted EBITDA up 26% to $12.4M

Globalstar, Inc.

2021-FY EPS reported -$0.06 revenue$124,297,000

Entered $327M procurement agreement with MDA for 17 satellites; expects delivery by 2025.
Q4 2021 adjusted EBITDA $12.4M, up 26% YoY; FY2021 adjusted EBITDA $38.7M, down 8%.
Full-year 2021 revenue $124.3M, down 3%; net loss $112.6M vs $109.6M in 2020.
Paid off $187M first-lien debt during 2021; plans senior secured financing for satellite capex.
Customer under Terms Agreement to reimburse 95% of approved satellite costs.

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