Globalstar Q1 revenue +79% to $58.6M; ops income $7.2M vs loss; Adj EBITDA $32.6M

Globalstar, Inc.

2023-Q1 EPS reported $0.00 revenue$58,644,000

Total revenue $58.6M (+79% YoY); service revenue up 80% on wholesale capacity and $6.5M from Service Agreement amendment.
Income from operations $7.2M vs loss of $13.7M; net loss narrowed to $3.5M from $20.5M; Adj EBITDA $32.6M (+216%).
Commercial IoT service revenue up 11% YoY; gross activations up 74% over trailing twelve months; back orders fulfilled.
Paid off remaining 2019 Facility and MDA financing with $200M non-convertible note (5% OID); balance sheet improved.
Terrestrial spectrum authority received in Spain (11 countries); agreement signed with Qualcomm for Band n53 chipset enablement.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Globalstar, Inc. reported first quarter 2023 results: revenue $58.6 million.

Period: first quarter 2023
Revenue: $58.6 million
Result: reported results

Exact text from the filing

Total revenue increased $25.9 million, or 79%, to $58.6 million during the first quarter of 2023

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Globalstar, Inc. filing history →

Source: SEC EDGAR

accession 0001366868-23-000055

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