---
schema_version: "secwatch.filing_event.v1"
accession: "0001366868-24-000067"
form_type: "8-K"
ticker: "GSAT"
cik: "0001366868"
company_name: "Globalstar, Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T09:09:38.726594+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Globalstar Q1 2024 net loss $13.2M, Adj EBITDA $29.6M; reiterates FY revenue $225M-$250M

## Summary
- Service revenue up $0.5M YoY; excluding nonrecurring items, up 7% YoY. Subscriber equipment sales down $2.7M vs record prior-year quarter.
- Loss from operations $4.7M vs income of $7.2M in Q1 2023; net loss widened to $13.2M from $3.5M.
- New govt contract POC started Feb 2024 ($2.5M); potential 5-yr agreement with min revenue escalating to $20M in year 5.
- XCOM RAN commercial deliveries began April 2024 for major retailer; tests showed 4x-5x capacity gains; part of govt 5G study.
- Cash $59.3M; FY2024 guidance reaffirmed: total revenue $225M-$250M, Adj EBITDA margin ~50%.

## SEC filing metadata
- accession: 0001366868-24-000067
- form_type: 8-K
- ticker: GSAT
- cik: 0001366868
- company_name: Globalstar, Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1366868/000136686824000067/0001366868-24-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1366868/000136686824000067/gsat-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001366868-24-000067
- JSON: https://secwatch.observer/filing/0001366868-24-000067.json
- Plain text: https://secwatch.observer/filing/0001366868-24-000067.txt

## Key facts
- Earnings Releases
  Globalstar, Inc. updated its the first quarter ended March 31, 2024 guidance (reaffirmed).
  - Period: the first quarter ended March 31, 2024
  - Guidance: reaffirmed
  - Result: reported results
  source text: On May 8, 2024, Globalstar, Inc. (the "Company") issued a press release announcing the Company's financial and operating results for the three months ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1366868/000136686824000067/0001366868-24-000067-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.