Globalstar Q3 revenue up 25% to $72.3M; net income $9.9M; raises FY guidance

Globalstar, Inc.

2024-Q3 EPS reported -$0.01 revenue$189,172,000

Q3 revenue $72.3M (+25% YoY); service revenue $68.9M, driven by wholesale capacity including $7.5M out-of-period bonus.
Net income $9.9M vs loss of $6.2M; Adjusted EBITDA record $42.8M, up 34%.
Raises FY 2024 revenue guidance to $245M-$250M (prior $235M-$250M); Adj. EBITDA margin now ~54%.
FCC approved extension of HIBLEO-4 constellation by 15 years and up to 26 replacement satellites.
Extended services agreements with largest customer; includes new satellite constellation and expanded ground infrastructure.

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