Globalstar reports record 2023 revenue of $224M; guides 2024 rev $225-250M

Globalstar, Inc.

2023-FY EPS reported -$0.02 revenue$223,808,000

Q4 revenue $52.4M (+27% YoY); Q4 net loss $15.1M vs $5.3M loss in prior year quarter.
Full-year revenue $224M (+51% YoY); Adjusted EBITDA $117M (+103% YoY).
Received $1.5M XCOM RAN order from major US retailer for warehouse automation; potential scale.
Executed government services contract: $2.5M proof-of-concept, then 5-yr term with annual minimums up to $20M.
Guidance FY2024 revenue $225-250M with ~50% Adjusted EBITDA margin.

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 fourth quarter and year ended December 31, 2023 results: revenue $52.4 million.

Period: fourth quarter and year ended December 31, 2023
Revenue: $52.4 million
Result: reported results

Exact text from the filing

Total revenue increased $11.1 million, or 27%, to $52.4 million during the fourth quarter of 2023 compared to the fourth quarter of 2022 due to higher service revenue.

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Source: SEC EDGAR

accession 0001366868-24-000024

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