Globalstar, Inc. (GSAT) Earnings
Globalstar, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.03. GSAT has beaten EPS estimates in 4 of its last 12 reported quarters (average surprise -124.6% over the last four).
| 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% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q4 FY2025 · February 27, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• 2025 was transformational with record full-year revenue and 50% adjusted EBITDA margin. • Focused on scaling core business and laying foundation for growth. • Launched two-way satellite IoT capabilities and completed commercial rollout of RM-200MS module. • Secured early government and defense wins, expanded in multiple verticals. • Achieved proof of concept with Parsons, advanced XCOM RAN-based 5G research. • Fireworks awarded Phase II SBIR contract leveraging Globalstar's XMRI5 platform. • Expanded global ground station network, advanced ITU financial commitments, and XCOM RAN ecosystem. • Average commercial IoT subscribers up 6%, IoT hardware sales revenue up 50%.
Guidance
• Expect total revenue between $280,000,000 and $305,000,000 in 2026 with an adjusted EBITDA margin of approximately 50%. • Confident in continued growth trajectory as scaling next-generation infrastructure and expanding commercial opportunities. • C3 constellation critical design review completed, work ongoing on ground network buildout and regulatory side. • Two-way IoT capabilities in process of being adopted by customers, module in mass production. • Pipeline for XCOM RAN includes warehouse automation, CBRS, military use cases, stadiums, convention centers, military bases.
Segment performance
Full Year 2025: Total revenue reached a record $273,000,000, up 9% from 2024. Service revenue was $257,300,000, up 8%, driven by increased wholesale services. Subscriber equipment revenue was $15,700,000, up 24% due to higher commercial IoT device sales. Income from operations was $7,400,000 vs. a loss of $900,000 in 2024. Net loss improved to $7,600,000 from $63,200,000 in 2024. Adjusted EBITDA was $136,100,000, a 50% margin. Q4 2025: Total revenue $72,000,000, service revenue $67,400,000 (up 17%), equipment revenue $4,600,000 (up 31%). Loss from operations $400,000 vs. $4,200,000 in Q4 2024. Net loss $10,600,000 vs. $50,200,000 in prior year. Adjusted EBITDA $32,400,000, up 7% from prior year's quarter. Balance sheet: Cash and cash equivalents $447,500,000, operating cash flows $621,700,000, capital expenditures $550,400,000, adjusted free cash flow $171,500,000. Principal debt balance $410,000,000 at year-end.
Analyst Q&A
Q: Thoughts on data centers in space?
A: Not focused on that, but understand industry excitement, but technical challenges exist.
Q: Next milestones for C3 constellation?
A: Critical design review done, work on ground network buildout and regulatory side.
Q: XCOM RAN customer KPIs with Boingo?
A: Throughput in dense environment, running over DAS, warehouse automation ease of deployment and capacity sharing.
Q: MSS and terrestrial 5G flexibility with S-band spectrum?
A: Synergy due to global harmonized spectrum, working on multimode capability for satellite modems.
Q: Targeted launch windows for replenishment satellites?
A: First launch in second quarter, second launch in second half.
Q: When two-way communications services went live?
A: Customers building out solutions, module commercial but waiting on customers to finish applications.
Q: Government pipeline and longer-term guidance?
A: Pipeline has near-term and newer opportunities, near-term revenue from network buildout for other regions.
Q: Ground infrastructure upgrade for longer-term MSS network?
A: Committed to ITU to spend $2,000,000,000, halfway through, buildouts going well.