Highest-materiality recent filing
Globalstar Q2 net loss $26.5M; Amazon merger HSR cleared, close expected 2027
Q2 revenue $64.8M, service revenue down 5% YoY; net loss $26.5M vs net income $19.2M in Q2 2025.
Globalstar shareholders elect directors, ratify auditor, approve say-on-pay at 2026 annual meeting
Elected James F. Lynch and Timothy E. Taylor as Class B directors with 92.2M and 96.9M votes for, respectively.
Globalstar Q1 revenue $70.1M (+17% YoY); announces merger with Amazon at $90/share
Q1 2026 revenue $70.1M (+17% YoY); service revenue $66.7M, equipment sales $3.4M.
Consideration: $90.00 per share cash (subject to adjustment capped at $110M) or Amazon common stock with variable exchange ratio based on Amazon's VWAP.
Globalstar reports record FY2025 revenue of $273M, net loss narrows to $8.7M
Full year revenue $273.0M (+9% YoY); service revenue $257.3M, equipment sales $15.7M.
Globalstar Q3 2025 revenue record $73.8M, net income falls to $1.1M
Total revenue $73.8M (record), service revenue $69.6M, equipment sales $4.2M; YoY service revenue up $0.7M.
Globalstar Q2 revenue $67.1M (+11% YoY), net income $19.2M, reaffirms FY guidance
Revenue $67.1M, up 11% YoY; service revenue $63.2M, equipment sales $3.9M.
Three Class A directors elected: Dr. Paul E. Jacobs (94.1M for), Keith O. Cowan and Benjamin G. Wolff (with Thermo excluded).
Globalstar Q1 revenue $60M (+6%), net loss $17.3M; reiterates FY 2025 guidance
Q1 2025 revenue $60.0M (+6% YoY); net loss $17.3M vs $13.2M loss in Q1 2024.
Globalstar reports record FY2024 revenue $250.3M (+12% YoY); adj EBITDA record $135.3M
Full year service revenue rose 16% to $237.7M; Commercial IoT service revenue up 15% YoY.
Globalstar to implement 1-for-15 reverse stock split and transfer listing to Nasdaq on Feb 11, 2025
Reverse stock split at 1-for-15 ratio effective Feb 10, 2025 at 5:30 PM ET; no fractional shares, rounding up.
Globalstar plans to delist from NYSE American and transfer to Nasdaq, subject to reverse stock split
Last trading on NYSE American expected Feb 10, 2025; trading on Nasdaq begins Feb 11, 2025 under symbol GSAT.
Shareholders approve reverse stock split (1:10 to 1:25) and proportional authorized share reduction
Holders of ~58% of shares (1,099,945,953 shares) approved charter amendments via written consent.
Globalstar holds investor day; reaffirms FY2024 guidance, introduces FY2025 guidance
Company hosted analyst and investor day on Dec 12, 2024 with executive presentations on strategic initiatives and growth opportunities.
Globalstar consummates payoff of 13% Notes and issues 400K Class B Units of subsidiary
Conditions precedent satisfied as of Nov 5, 2024; transactions completed.
Globalstar Q3 revenue up 25% to $72.3M; net income $9.9M; raises FY guidance
Q3 revenue $72.3M (+25% YoY); service revenue $68.9M, driven by wholesale capacity including $7.5M out-of-period bonus.
Globalstar enters $1.5B Apple deal for new satellite network; doubles revenue outlook
Apple to prepay up to $1.1B for infrastructure and buy 20% equity stake in Globalstar SPE for $400M.
Globalstar Q2 revenue $60.4M, raises FY2024 outlook; Adj. EBITDA up 20%
Total revenue $60.4M (+10% YoY); service revenue up 18% on wholesale capacity growth.
Globalstar stockholders elect Hasler and Monroe to Class C board; ratify EY as auditor
Elected William A. Hasler (1.38B for, 23M against) and James Monroe III (1.22B for, 193M against) as Class C directors.
Globalstar Q1 2024 net loss $13.2M, Adj EBITDA $29.6M; reiterates FY revenue $225M-$250M
Service revenue up $0.5M YoY; excluding nonrecurring items, up 7% YoY. Subscriber equipment sales down $2.7M vs record prior-year quarter.
Globalstar announces sudden passing of director Michael J. Lovett
Michael J. Lovett, a Globalstar director since 2018, passed away suddenly last week.
Globalstar reports record 2023 revenue of $224M; guides 2024 rev $225-250M
Q4 revenue $52.4M (+27% YoY); Q4 net loss $15.1M vs $5.3M loss in prior year quarter.
Globalstar enters Thermo Guaranty, issues warrant for 10M shares at $2.00
Thermo Guaranty effective Dec 7, 2023, backing $252M obligations to partner.
Globalstar Q3 revenue up 53% to $57.7M; raises FY guidance to $215-230M
Q3 total revenue $57.7M (+53% YoY); net loss narrowed to $6.2M from $204.4M loss a year ago.
Entered Launch Services Agreement with SpaceX for first set of new satellites.
Issued 60,582,615 shares (~$68.7M based on 20-day VWAP) for perpetual, royalty-free license to XCOM's wireless spectrum technologies.
Globalstar hires ex-Qualcomm CEO Paul Jacobs, licenses XCOM tech for ~60M shares
Paul E. Jacobs appointed CEO effective immediately, replacing David Kagan.
Globalstar Q2 revenue up 50% to $55.1M; raises low end of FY 2023 guidance to $200M
Net income near breakeven vs $26.8M loss; Adj. EBITDA $27.0M, up 86% YoY.
Globalstar holds 2023 annual meeting; elects directors, approves Thermo guaranty
Elected James F. Lynch and Timothy E. Taylor as Class B directors for 3-year terms.
Globalstar Q1 revenue +79% to $58.6M; ops income $7.2M vs loss; Adj EBITDA $32.6M
Total revenue $58.6M (+79% YoY); service revenue up 80% on wholesale capacity and $6.5M from Service Agreement amendment.
Globalstar issues $200M of 13% Senior Notes due 2029; repays $148M 2019 Facility
$200 million aggregate principal of 13.00% Senior Notes due Sept 15, 2029; issued at 95% of par.
Globalstar issues $200M 13% Senior Notes due 2029 to repay existing debt
$200M aggregate principal, 13% interest, non-convertible, due September 2029.
Globalstar reaffirms 2023 revenue guidance of $185M-$230M
CFO reaffirmed total revenue guidance for FY 2023 of $185M to $230M on earnings call.
Globalstar reports 2022 revenue up 19% to $148.5M; Adj. EBITDA +48% to $57.4M
2022 total revenue $148.5M (+19% YoY); Q4 revenue up 20% YoY.
Globalstar partner prepays $252M for satellite costs, replaces external financing
Partner will prepay $252M under amended Partnership Agreements for satellite procurement, launch, insurance costs.
Extended deadline to convert or refinance 2019 Facility loans to March 13, 2023.
Globalstar pays $20M, secures forbearance to March 15, explores financing
Paid $20M cash under Second Forbearance Agreement with MDA and Rocket Lab.
Globalstar converts $149.4M debt into 7% Series A Perpetual Preferred Stock
Exchanged $149.4M of principal and accrued interest under 2019 Facility for Series A Preferred at $1,000 liquidation preference per share.
Globalstar holds Investor Day; presentation content not fully available in filing
Investor Day held on November 16, 2022; presentation furnished as Exhibit 99.1.
Globalstar Q3 revenue up 15% YoY, net loss $204.4M on $174.5M Duplex impairment
Q3 2022 total revenue +15% YoY (+$5.0M) driven by service revenue; equipment sales down on supply chain disruptions.
Globalstar to provide satellite network for Apple's emergency SOS; services expected Q4 2022
Apple to launch satellite-enabled services in Q4 2022 using Globalstar's network; Globalstar to allocate 85% of capacity.
Globalstar Q2 revenue +21% YoY; record Adjusted EBITDA $14.6M up 49%
Revenue grew $6.5M (+21% YoY) driven by service revenue up $7.4M; equipment sales down $0.9M due to supply chain.
Globalstar stockholders elect two Class A directors, ratify auditor at annual meeting
Shareholders representing 1.6B shares attended the annual meeting; Thermo Companies’ 1.08B shares could not vote on director election.
Globalstar Q1 revenue up 22%; Adjusted EBITDA $10.3M, satellite deal with MDA
Total revenue increased 22% YoY to ~$32.2M driven by $6.8M in engineering service revenue under Terms Agreement.
Globalstar signs $327M satellite procurement deal with MDA; customer to reimburse 95% of costs
Ordered 17 satellites from MDA for $327M; option for up to 9 more at $11.4M each.
Globalstar signs $327M satellite contract, Q4 adjusted EBITDA up 26% to $12.4M
Entered $327M procurement agreement with MDA for 17 satellites; expects delivery by 2025.
Globalstar repays $62M First Lien Credit Facility; second lien becomes first lien
Repaid approximately $62.0 million of First Lien Credit Facility, funded by $51.1M from debt service reserve and cash on hand.
Globalstar Q3 2021: revenue slightly down, SPOT activations up 17% LTM, debt reduced to <$10M
Total revenue decreased slightly YoY, but SPOT service revenue up 4% QoQ and Commercial IoT equipment sales up ~50%.
Globalstar receives $37.5M customer advance payment to reduce first lien debt
Received $37.5M advance from customer on August 30, 2021, on terms matching the June 2021 advance.
Globalstar Q2 2021: SPOT activations up 33%, net loss improves $3.3M, debt reduced
Total revenue declined slightly YoY; subscriber equipment sales up $1.4M driven by Commercial IoT more than doubling.
On August 29, 2023, the Company announced the retirement and resignation of David Kagan and the appointment of Dr. Paul Jacobs as Chief Executive Officer effective immediately.
On August 29, 2023, the Company announced the retirement and resignation of David Kagan and the appointment of Dr. Paul Jacobs as Chief Executive Officer effective immediately.
On the Effective Date, the Company also announced that the Board of Directors has appointed Dr. Jacobs to serve as a director effective immediately.
Max materiality 1.00 · Median 0.70 · Most common event earnings