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NASDAQ · COMMUNICATIONS SERVICES, NEC · LARGE CAP

Globalstar, Inc. GSAT

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$273.0M
▲ 9.0% YoY
$-8.7M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Through its global satellite network, Globalstar, Inc. provides Mobile Satellite Services, including voice and data communications services to retail, business and governmental customers, as well as wholesale satellite capacity services. As of December 31, 2025, it had approximately 791,000 MSS subscribers worldwide. As of December 31, 2025, it had 477 employees in fifteen countries around the world. It delivers communications products and services, wholesale satellite capacity services, government services, and terrestrial spectrum and network solutions. It provides wholesale satellite capacity services to Apple Inc. under a service agreement and related ancillary agreements. The Customer under its Updated Services Agreements was responsible for 63% of its total revenue in 2025, up from 58% in 2024 and 49% in 2023. It holds terrestrial licenses in 12 countries, resulting in approximately 12.0 billion MHz-POPs as of December 31, 2025.

Written from the business description in Globalstar, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 273.0M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 273.0 · Net income -8.7
100.0M200.0M-250.0M-500.0M
2009201220152018202120242025
Compound annual growth
+22.5%
+16.3%
+11.7%
+9.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +16.3% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−3 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 2.7% · Net -3.2%
20%40%60%-200%-400%-600%
200920172025
ROE
FY2025 · ROE -2.4%
-200%-400%
200920172025
Three returns, three denominators.

Each USD of equity lost 2 cents this year.

Cash & shareholders

USD 10.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2019 · FCF -1.5
3M6M-15M-30M
200920172025
Net buybacks $M Dividends $M
FY2025 · Dividends 10.6 · Net buybacks ·
5M10M
20212022202320242025

USD 10.6M in dividends went back to shareholders in a year without profit.

Total assetsUSD 2.3B
EquityUSD 355.7M
CashUSD 447.5M
Gross debtUSD 483.8M
Net debtUSD 36.3M
Current ratio2.42×

Net debt stands at 10% of equity.

The 17-year record

17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
GSAT, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.30.30.20.10.10.10.10.10.10.10.10.10.10.10.10.10.1
Operating income $B0.0−0.0−0.0−0.2−0.1−0.1−0.1−0.0−0.1−0.1−0.1−0.1−0.1−0.1−0.1−0.1−0.1
EBITDA $B0.10.10.1−0.10.00.00.00.00.00.00.0−0.00.0−0.0−0.0−0.0−0.0
Income tax $B0.00.00.00.0−0.00.00.00.00.0−0.00.00.00.00.0−0.00.0−0.0
Net income $B−0.0−0.1−0.0−0.3−0.1−0.10.0−0.0−0.1−0.10.1−0.5−0.6−0.1−0.1−0.1−0.1
Free cash flow $B◌◌◌◌◌◌−0.0−0.00.0−0.0−0.00.0−0.00.0−0.0−0.0−0.0
EPS, diluted $−0.15−0.59−0.29−2.15−0.06−0.07−0.07−0.01−0.08−0.120.07−0.50−0.96−0.29−0.18−0.34−0.58
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout %−123−17−48−0−0————————————
ROE %−2.4−17.1−7.1−75.5−28.6−26.44.0−2.0−39.3−66.545.8−473.1−193.4−21.8−10.3−17.2−12.6
Shares out B◌0.130.131.81◌◌◌◌◌◌◌◌◌◌◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 66 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Six checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009. Two checks were skipped: revenue is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityCommunications Services, NEC
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2009

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