Globalstar Q2 revenue up 50% to $55.1M; raises low end of FY 2023 guidance to $200M

Globalstar, Inc.

2023-Q2 EPS reported $0.00 revenue$113,716,000

Net income near breakeven vs $26.8M loss; Adj. EBITDA $27.0M, up 86% YoY.
Commercial IoT gross activations at record high; equipment sales revenue more than doubled for third straight quarter.
Cash and equivalents $65.3M, more than double year-end 2022 balance of $32.1M.
FY 2023 guidance: total revenue $200-230M (prior low $185M); Adj. EBITDA margin ~55%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Globalstar, Inc. reported second quarter of 2023 results: revenue $55.1 million, net income less than $0.1 million. Guidance raised.

Period: second quarter of 2023
Revenue: $55.1 million
Net income: less than $0.1 million
Guidance: raised
Result: reported results

Exact text from the filing

Total revenue increased $18.3 million, or 50%, to $55.1 million during the second quarter of 2023 compared to the second quarter of 2022

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Source: SEC EDGAR

accession 0001366868-23-000096

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