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Investor Relations14 Oct 2025
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Globalstar (GSAT) investor relations material
Globalstar Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary7 Aug, 2025
Executive summary
Q2 2025 revenue rose 11% year-over-year to $67.1 million, driven by wholesale capacity services and Commercial IoT growth, with the Customer responsible for 62% of total revenue for the first half of 2025.
Net income reached $19.2 million, reversing a $9.7 million loss in Q2 2024, with significant foreign currency gains.
Strategic investments in XCOM RAN, infrastructure upgrades, and new ground stations are positioning the business for long-term growth across commercial, industrial, and government sectors.
Key operational milestones include new government contracts, successful technology demonstrations, and expanded global infrastructure initiatives.
The company completed a 1-for-15 reverse stock split in February 2025 and transitioned its listing to Nasdaq.
Financial highlights
Total revenue rose 11% year-over-year to $67.1M in Q2 2025, with service revenue up 10% to $63.2M and equipment sales at $3.9M.
Adjusted EBITDA increased to $35.8M from $32.6M in Q2 2024; Adjusted EBITDA for the first half of 2025 was $66.1M.
Net income for Q2 2025 was $19.2M, with EPS of $0.13, compared to a net loss and EPS of $(0.10) in Q2 2024.
Cash and cash equivalents stood at $308.2M as of June 30, 2025, down from $391.2M at year-end 2024.
Principal debt outstanding was $400.2M at quarter-end, with deferred revenue, net, totaling $524.5M.
Outlook and guidance
Full-year 2025 revenue expected between $260M and $285M, with an anticipated adjusted EBITDA margin of approximately 50%.
Management expects minimal near-term financial impact from evolving tariffs due to a flexible global manufacturing and logistics footprint.
Continued revenue growth expected from expanded services and new satellite launches in late 2025.
Construction and launch of the Extended MSS Network and new satellite constellations are underway, with significant capital expenditures expected.
No material impact is expected from recent U.S. tax law changes (OBBBA) on 2025 results.
How will tariffs impact 2025 financial outlook?
Assess Parsons' commercial agreement impact.
Explain XCOM RAN's impact on Adjusted EBITDA.
What is the status of C-3 system authorizations?
Assess impact of RM200 module adoption.
Discuss feasibility of spectrum sharing.
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Next Globalstar earnings date
Q3 20256 Nov, 2025
Next Globalstar earnings date
Q3 20256 Nov, 2025
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Frequently asked questions
Globalstar Inc. is a provider of satellite and terrestrial connectivity services, catering to both commercial and recreational users across more than 120 countries. The company's offerings include satellite voice and data service to remote locations beyond the reach of traditional cellular and landline networks. Globalstar's product line encompasses a range of satellite communication solutions, including simplex and duplex satellite devices, data modems, and satellite airtime packages. Notable products include the SPOT GPS satellite devices, which are designed for personal safety and tracking, offering features such as real-time alerts, reliable connectivity, and one-touch SOS capabilities. The company is headquartered in Covington, Louisiana, and its shares are listed on the NYSE.
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