Business
Globalstar Announces First Quarter 2025 Financial Results
First quarter 2025 revenue increased 6% to $60.0 million, driven by strength in wholesale capacity services Announced launch of two-way satellite commercial
About this update from Globalstar, Inc.
[{"type":"text","content":"\n\nFirst quarter 2025 revenue increased 6% to $60.0 million, driven by strength in wholesale capacity services\n\n\nAnnounced launch of two-way satellite commercial IoT solution with mass production expected in the second quarter of 2025\n\n\nIntroduced new state-of-the-art Satellite Operations Control Center (SOCC) at Globalstar’s headquarters\n\n\n COVINGTON, La.--(BUSINESS WIRE)--\nGlobalstar, Inc. (Nasdaq: GSAT) (“Globalstar” or the “Company”) today announced its financial results for the first quarter ended March 31, 2025.\n\n\"Our first quarter results are in-line with our expectations with revenue increasing 6% to $60.0 million. Net loss for the quarter was $17.3 million, driven predominantly by non-cash items. Adjusted EBITDA* was $30.4 million for the quarter, up from $29.6 million in the first quarter 2024 and reflecting a margin of 51%. We are reiterating our previously-issued financial guidance for the year, with revenue expected to be in the range of $260 million to $285 million, and Adjusted EBITDA margin expected to be approximately 50%,\" commented Rebecca Clary, Chief Financial Officer.\n\nDr. Paul E. Jacobs, Chief Executive Officer, said, “I am pleased with the progress we made to begin 2025, as we continue to advance our strategy and deepen our presence across key markets. The successful launch of our two-way satellite IoT solution highlights Globalstar’s ability to meet customer needs and penetrate high-growth markets through product development. At the same time, we remain focused on positioning Globalstar for growth, including the addition of proven leaders to our management team who bring exceptional experience in scaling businesses and driving innovation.”\n\nDr. Jacobs continued, “The global trade environment remains highly dynamic, and we are actively monitoring and assessing the potential impact of tariffs on Globalstar. Fortunately, any direct exposure is relatively limited to sales of our SPOT and Commercial IoT subscriber devices. In addition, we have several levers available to help mitigate potential long-term impacts, including supply chain diversification, re-shoring, pricing and materials management.”\n\n\n\n* Adjusted EBITDA is a non-GAAP financial measure. For more information, refer to “Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted EBITDA\n\n\n\n\nRECENT OPERATIONAL HIGHLIGH...