secwatch.observer — SEC 8-K summary
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Issuer:     Globalstar, Inc. (GSAT)
CIK:        0001366868
Form:       8-K
Filed at:   2022-02-24T23:59:59+00:00
Accession:  0001366868-22-000020
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1366868/000136686822000020/0001366868-22-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1366868/000136686822000020/gsat-20220224.htm
  HTML page:      https://secwatch.observer/filing/0001366868-22-000020

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