Globalstar reports record FY2024 revenue $250.3M (+12% YoY); adj EBITDA record $135.3M

Globalstar, Inc.

2024-FY EPS reported -$0.59 revenue$250,349,000

Full year service revenue rose 16% to $237.7M; Commercial IoT service revenue up 15% YoY.
Net loss of $63.2M driven by $27.4M loss on debt extinguishment and currency losses.
Received $0.9B of $1.7B investment under Updated Services Agreements; cash $391.2M up from $56.7M.
FY2025 guidance: revenue $260M-$285M; adj EBITDA margin ~50%.
Partnerships with Parsons, Peiker, Liquid Intelligent; 15-year FCC mobile earth terminal renewal.

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