Globalstar, Inc.
- Open
- 79.30
- Day high
- 80.09
- Day low
- 79.05
- Prev close
- 79.53
- Volume
- 1.4M
- Mkt cap
- $10.2B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 29.7
- P/S
- 36.0
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$406K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Globalstar, Inc. (GSAT) is a Communication Services company listed on NASDAQ. The stock is up 183% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering GSAT.
Globalstar, Inc. (GSAT) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
GSAT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.02 | $-0.16 | -700.0% | $70M | -1.2% |
| Nov 6, 2025 | $-0.01 | $-0.01 | +0.0% | $74M | +4.7% |
| Aug 7, 2025 | $-0.09 | $0.13 | +244.4% | $67M | -2.7% |
| May 8, 2025 | $-0.07 | $-0.10 | -42.9% | $60M | -7.0% |
| Feb 27, 2025 | $-0.05 | $-0.14 | -180.0% | $61M | +1.6% |
| Nov 7, 2024 | $-0.00 | $0.04 | +3092.9% | $72M | +20.0% |
| Aug 8, 2024 | $-0.15 | $-0.15 | +0.0% | $60M | +5.6% |
| Feb 28, 2024 | $-0.00 | $-0.15 | -6566.7% | $52M | -0.9% |
| Nov 2, 2023 | $-0.01 | $-0.03 | -200.0% | $58M | +9.1% |
| Aug 3, 2023 | $-0.15 | $0.00 | +100.0% | $224M | +335.3% |
| May 5, 2023 | $-0.15 | $0.15 | +200.0% | $59M | +18.6% |
| Mar 1, 2023 | $-0.01 | $-0.03 | -99.9% | $41M | +6.6% |
GSAT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 4, 2026 | Clary Rebeccaofficer: VP & Chief Financial Officer | Sell | 920 | $81.75 |
| May 21, 2026 | COWAN KEITH Odirector | Grant | 3,333 | — |
| May 21, 2026 | Taylor Timothy Evandirector, officer: VP, Finance & Operations | Grant | 3,333 | — |
| May 21, 2026 | HASLER WILLIAM Adirector | Grant | 3,333 | — |
| May 21, 2026 | Wolff Benjamin Gdirector | Grant | 3,333 | — |
| Apr 28, 2026 | Clary Rebeccaofficer: VP & Chief Financial Officer | Grant | 9,523 | — |
| Apr 28, 2026 | Clary Rebeccaofficer: VP & Chief Financial Officer | Sell | 4,066 | $81.24 |
| Apr 15, 2026 | Clary Rebeccaofficer: VP & Chief Financial Officer | Sell | 4,037 | $79.85 |
| Apr 15, 2026 | Clary Rebeccaofficer: VP & Chief Financial Officer | Grant | 9,524 | — |
| Mar 19, 2026 | JACOBS PAUL Edirector, officer: Chief Executive Officer | Sell | 713 | $59.56 |
| Mar 19, 2026 | JACOBS PAUL Edirector, officer: Chief Executive Officer | Sell | 1 | $59.58 |
| Mar 19, 2026 | JACOBS PAUL Edirector, officer: Chief Executive Officer | Option | 2,222 | $32.85 |
| Mar 19, 2026 | JACOBS PAUL Edirector, officer: Chief Executive Officer | Option | 4,444 | $28.05 |
| Mar 12, 2026 | Taylor Timothy Evandirector, officer: VP, Finance & Operations | Grant | 1,310 | — |
| Mar 12, 2026 | Ponder L Barbee IVofficer: General Counsel | Grant | 1,395 | — |
Source: GSAT SEC Form 4 filings, latest Jun 4, 2026. For informational purposes only — not investment advice.
See the full GSAT insider & 13F page →Globalstar, Inc. company profile
Overview
Globalstar, Inc. (NASDAQ:GSAT) is a satellite communications company founded in 1993 and headquartered in Covington, Louisiana. The company provides mobile satellite services worldwide through its constellation of low-Earth orbit satellites. Globalstar went public in 2006 and has evolved from a traditional satellite phone provider into a diversified satellite communications company serving consumer, commercial, and government markets. The company operates one of the few commercial satellite constellations capable of providing two-way voice and data communications globally, with particular strength in areas where terrestrial cellular coverage is limited or unavailable.
Business
Globalstar operates in the satellite communications industry, providing mobile satellite services through its constellation of low-Earth orbit satellites positioned approximately 1,400 kilometers above Earth. The satellite communications industry serves as a critical infrastructure for global connectivity, particularly in remote areas where traditional terrestrial networks cannot reach. The company's core offerings span several distinct business segments: 1. Wholesale Satellite Services (~40-50% of revenue): Globalstar provides satellite capacity and infrastructure services to large enterprise customers, including a major technology company that uses Globalstar's satellites for emergency messaging services on consumer devices. This segment has become the company's largest revenue driver, generating significant wholesale capacity revenue. 2. Commercial Internet of Things (IoT) (~20-25% of revenue): The company offers satellite-based tracking and monitoring solutions for commercial applications. These services enable businesses to track assets like cargo containers, rail cars, utility meters, and oil and gas equipment in remote locations where cellular coverage is unavailable. Globalstar provides both one-way and two-way IoT communication capabilities. 3. Consumer Products (~15-20% of revenue): This segment includes the SPOT brand of consumer satellite devices, such as SPOT satellite GPS messengers for personal tracking and emergency location services, and SPOT Trace anti-theft and asset tracking devices. These products are popular among outdoor enthusiasts, recreational users, and individuals requiring emergency preparedness solutions. 4. Government Services (~5-10% of revenue): Globalstar provides satellite communication services to government agencies and contractors for public safety, disaster relief, and other mission-critical applications. 5. Duplex Voice and Data Services (~10-15% of revenue): Traditional satellite phone and data services for remote business continuity, maritime, oil and gas, construction, utilities, transportation, mining, and forestry applications. The company also holds valuable spectrum assets, including Band n53, which can be used for both satellite and terrestrial wireless communications, representing a potential new revenue stream through spectrum licensing and private network deployments.
Revenue model
Globalstar generates revenue through multiple business models across its service portfolio. The primary revenue streams include service subscriptions, equipment sales, wholesale capacity agreements, and emerging spectrum licensing opportunities. Service Revenue represents the largest portion of the business, generated through monthly subscription fees from satellite communication services. Wholesale customers pay for satellite capacity and infrastructure access, while individual consumers and businesses pay monthly service fees for voice, data, and IoT connectivity. Commercial IoT customers typically pay recurring monthly fees per device for tracking and monitoring services. Equipment Revenue comes from the sale of satellite communication devices, including handheld satellite phones, IoT tracking devices, SPOT consumer products, and specialized equipment for maritime and industrial applications. The company distributes products through independent agents, dealers, resellers, retailers, and direct sales. Wholesale Capacity Revenue has become increasingly important, with major technology companies paying substantial fees for access to Globalstar's satellite network infrastructure. These agreements often involve long-term contracts with significant minimum revenue commitments. Spectrum Licensing represents an emerging revenue opportunity, where Globalstar can lease its Band n53 spectrum rights to wireless carriers and enterprises for terrestrial network deployments, particularly for private networks and 5G applications. Several factors influence Globalstar's margins and profitability. Positive margin drivers include the high-margin nature of satellite services once infrastructure is deployed, growing demand for IoT connectivity in remote areas, increasing adoption of satellite-based emergency services, and the potential for spectrum licensing revenue. The company's satellite constellation provides significant operating leverage, as incremental capacity can be sold without proportional increases in operating costs. Margin pressures come from the capital-intensive nature of satellite operations, requiring periodic constellation replacement and upgrades. Competition from other satellite operators and emerging technologies like low-Earth orbit mega-constellations could pressure pricing. Additionally, the company faces financing costs from debt used to fund satellite infrastructure, and regulatory changes affecting spectrum rights could impact future revenue potential.
Competitive moat
Globalstar possesses several competitive advantages that create meaningful barriers to entry, though the strength of these moats varies across business segments. The company's primary moat stems from its operational satellite constellation and spectrum assets, which represent substantial capital investments and regulatory approvals that would be difficult and expensive for competitors to replicate. The company's Band n53 spectrum holdings provide a unique asset, as Globalstar holds terrestrial rights to this spectrum in multiple countries. This spectrum can be used for both satellite and terrestrial communications, creating optionality for private network deployments and 5G applications that competitors cannot easily match. The regulatory approval process for spectrum rights creates natural barriers to entry. Established customer relationships and long-term contracts provide some protection, particularly in the wholesale segment where switching costs are high due to integration requirements and service reliability needs. The company's decades of operational experience and proven track record in satellite communications create trust with enterprise and government customers who require mission-critical connectivity. However, Globalstar's moat faces several challenges. The satellite communications industry is experiencing significant disruption from new mega-constellation operators like SpaceX's Starlink, which offer higher bandwidth and more comprehensive global coverage. These new entrants have substantially more capital and advanced technology, potentially commoditizing basic satellite connectivity services. The company's aging satellite constellation represents both a vulnerability and an opportunity. While Globalstar is investing in next-generation satellites, the current constellation's limited capacity and technology constraints make it less competitive against newer systems. The IoT and consumer segments face increasing competition from terrestrial cellular networks expanding coverage and from other satellite IoT providers. The competitive moat is moderate but narrowing, with the spectrum assets providing the strongest long-term differentiation. Success will depend on the company's ability to leverage its unique spectrum position and successfully deploy its next-generation satellite constellation while maintaining key customer relationships in an increasingly competitive market.
Risks & safety
Globalstar presents a mixed margin of safety profile, with strong liquidity but high leverage and valuation concerns. Liquidity and Solvency: - Strong cash position: $241.4 million in cash and short-term investments as of Q1 2025 - Positive operating cash flow: $51.9 million in Q1 2025, $439.2 million for full year 2024 - Current ratio of 2.27, indicating adequate short-term liquidity - Debt-to-equity ratio of 1.56, representing significant leverage - Total liabilities of $1.38 billion against total assets of $1.73 billion Valuation Metrics: - EV/EBITDA of 35.2x, indicating expensive valuation relative to current earnings - Price-to-book ratio of 7.66, suggesting premium valuation - Negative return on equity of -5.0%, reflecting recent losses - Trading at significant premium to tangible book value Other Considerations: - Capital-intensive business model requiring ongoing satellite constellation investment - Recent $1.1 billion contract with MDA Space for new satellites creates future cash flow obligations - Revenue growth trajectory and margin expansion provide some support for current valuation - Spectrum assets provide potential upside not reflected in traditional metrics - Dependency on major wholesale customer creates concentration risk The margin of safety appears limited given high valuation multiples and leverage, though strong cash position and growing cash flows provide near-term stability.
Recent development
Globalstar has undergone significant strategic transformation over the past few years, evolving from a traditional satellite phone company into a diversified satellite communications provider with valuable spectrum assets. The most significant development has been the company's major wholesale services agreement with a large technology customer, which has become the primary revenue driver and fundamentally changed the business model. The company has made substantial investments in next-generation satellite infrastructure, signing a C$1.1 billion contract with MDA Space to build and deploy a new satellite constellation. This represents the largest capital commitment in the company's history and will replace the aging current constellation with more advanced satellites capable of higher capacity and improved services. The first batch of replacement satellites is expected to launch in 2025. Spectrum monetization has emerged as a key strategic focus, with Globalstar securing terrestrial rights for its Band n53 spectrum in multiple countries. The company has developed partnerships with technology providers like Qualcomm and XCOM Labs to commercialize this spectrum for 5G and private network applications. The XCOM RAN technology demonstrations have shown promising results, achieving 400 Mbps speeds and attracting interest from enterprise customers. The company has significantly expanded its Internet of Things capabilities, launching two-way satellite IoT solutions and opening a new Satellite Operations Control Center in Covington, Louisiana. This expansion targets the growing commercial IoT market, particularly for asset tracking and monitoring in remote locations. Organizational changes have included key leadership appointments, with Dr. Tamer Kadous joining as VP and GM of Terrestrial Network Business and Daaman Hejmadi as VP and GM of Wholesale Consumer Business. The company has also expanded its engineering capabilities, particularly in India, to support technology development initiatives. Financial restructuring included uplisting to NASDAQ Global Select Market and implementing a 1-for-15 reverse stock split to meet listing requirements. The company has also focused on improving its capital structure and reducing financing costs while maintaining strong cash reserves to fund growth initiatives.
GSAT company profile · for informational purposes only — not investment advice.
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