Globalstar, Inc. · NASDAQ:GSAT
Globalstar — Investor Day (November 2022)
33 slides from Globalstar's investor day presentation, Nov 16, 2022
Slide 1: Connect Smarter – NYC Investor Day November 2022
NYC Investor Day – November 2022 Connect Smarter Confidential
Slide 2: Disclaimer
This presentation contains certain statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cau
Slide 3: About Globalstar
About Globalstar Globalstar empowers its customers to connect, transmit and communicate in smarter ways – easily, quickly, securely, and affordably – offering reliable satellite and terrestrial connectivity services as an international telecom infrastructure provider. The Company’s LEO satellite con
Slide 4: Globalstar Inc. Investor Day Agenda
Globalstar Inc. Investor Day Agenda NYSE Freedom Hall November 16, 2022 Topic Presenter(s) Start Time (ET) Introduction Denise Davila 9:00 am Globalstar Overview Jay Monroe 9:05 am Pillar #1: Wholesale Agreement Jay Monroe 9:15 am Financial Overview Rebecca Clary 9:30 am Pillar #2: Terrestrial Spect
Slide 5: Senior Management Team with Deep Industry Experience
Senior Management Team with Deep Industry Experience James (Jay) Tim Taylor Monroe III Dave Kagan Rebecca Clary VP of Finance, Executive Chairman of Chief Executive Officer Chief Financial Officer Business the Board of Directors Operations & Strategy Jake Rembert Kyle Pickens David Haight VP of Glob
Slide 6: Investment Highlights
Investment Highlights Flagship Service Agreement announced in September bringing a communications industry changing critical 1 wholesale service 2 Set of unique & unreplicable satellite assets & worldwide spectrum authorizations in multiple favorable bands 3 Globalstar expects that its wholesale bus
Slide 7: Globalstar: next-generation international telecommunications infrastructure provider
Globalstar: next-generation international telecommunications infrastructure provider 7 Investor Day 2022 / Connect Smarter
Slide 8: Benefits of Globalstar’s Satellite System
Benefits of Globalstar’s Satellite System Mid-band spectrum for mobility Available system capacity in retained 15% to support IoT growth Allows for small, lower cost and energy efficient terminals Bent pipe architecture allows for on ground upgrades Satellite coverage across ~99% of world’s populati
Slide 9: Global Footprint & Ground Infrastructure
Global Footprint & Ground Infrastructure Globalstar International Terrestrial Status Terrestrial Authority Obtained Kilingi-Nomme, Estonia Terrestrial authority in U.S., Nemea, Greece Canada & Brazil is 11.5 MHz. Dublin, Authority over South Africa, Wasilla, AK Ireland Botswana, Rwanda, Gabon, High
Slide 10: Four Pillars of Value
These pillars are the foundation for a telecom infrastructure Four company offering satellite and terrestrial connectivity around the globe. Pillars Our value creation strategy has been divided into four pillars: of Value 1 / Wholesale Satellite Capacity 2 / Terrestrial Spectrum 3 / Commercial IoT 4
Slide 11: Wholesale Satellite Capacity
/1 Wholesale Satellite Capacity Globalstar expects to continue to develop wholesale customer opportunities using its available satellite capacity for IoT and other strategic initiatives. 11 Investor Day 2022 / Connect Smarter Confidential
Slide 12: Retained Satellite Capacity
Retained Satellite Capacity Globalstar’s retained satellite capacity can support its existing and future customers, while allowing an approximately fifty- fold increase in its own subscriber base (depending on composition of active terminals) following recent and planned investments in the Company’s
Slide 13: Financial Overview
Financial Overview 13 Investor Day 2022 / Connect Smarter
Slide 14: Globalstar – Outlook to 2026
Globalstar – Outlook to 2026 Future figures are for illustrative purposes and do not include any incremental upside from Band 53/n53 spectrum monetization Expected 2022 Expected 2026 Total Revenue $145mm $250mm – $310mm Adjusted EBITDA(1) $55mm $137mm – $171mm Adjusted EBITDA Margin 38% Satellite Di
Slide 15: New Financing Overview
New Financing Overview New Financing Concurrent Refinancing • Globalstar has mandated Goldman Sachs to explore financing opportunities with the aim to • The Service Agreement requires Globalstar to refinance or complete a financing in the fourth quarter of 2022 convert loans outstanding under the 20
Slide 16: Globalstar Capitalization Table
Globalstar Capitalization Table As of 9/30/22 Pro Forma as of 12/31/22 (in millions, except for share price) (except share price) (except share price) Share Price (as of 11/15/22) $1.90 $1.90 Basic Shares Outstanding 1,800.5 1,807.1 Plus: Treasury Method Shares 7.8 55.3 Adjusted Total Shares Outstan
Slide 17: Terrestrial Spectrum
/2 Terrestrial Spectrum Band 53 is a uniform and increasingly “borderless” spectrum resource. Globalstar can monetize Band 53 across multiple commercial applications, which its partners, including cable companies, legacy or upstart wireless carriers, system integrators, utilities and other infrastru
Slide 18: Globalstar 3GPP Band 53 (S-Band) Spectrum Detail
Globalstar 3GPP Band 53 (S-Band) Spectrum Detail 5G applications will drive material growth in mobile data usage. Keeping pace with network bandwidth demands and high service quality requires more mid-band licensed spectrum. Technical • Utilizes TD-LTE eliminating the need for paired spectrum • No b
Slide 19: Band 53 Ecosystem
Band 53 Ecosystem In addition to the ecosystem enhancement from the September 7 announcement, Globalstar has developed an impressive and growing list of companies helping to drive Band 53 towards commercialization XCOM Labs 19 Investor Day 2022 / Connect Smarter Confidential
Slide 20: Band 53 Commercialization Opportunities
Band 53 Commercialization Opportunities Private Wireless • Secure proprietary wireless networks tailored for enterprise, transportation, or government use cases • Band 53 represents a rare swath of global licensed satellite spectrum (convertible to terrestrial spectrum) not controlled by wireless op
Slide 21: Commercial IoT
/3 Commercial IoT Globalstar plans to continue to evolve and develop its IoT initiatives as interest in satellite IoT connectivity continues to become more critical to a growing number of sectors and use cases. 21 Investor Day 2022 / Connect Smarter Confidential
Slide 22: Low Data Rate Satcom IoT Opportunity
Low Data Rate Satcom IoT Opportunity Globalstar is well positioned for success in key IoT verticals with capacity available Worldwide Satellite IoT Market Growth 2032 Projected(1) Globalstar coverage reaches >90% of market opportunity(2) North America Europe Asia-Specific Rest of World Source: BIS R
Slide 23: Commercial IoT Products
Commercial IoT Products STX-3 SmartOne C SmartOne Solar ST100 ST150 Two-way Module Under development • Company’s smallest • Tracking of assets • Tracking of assets • Launched in 2020 • Recently commenced • Currently under M2M satellite • Line powered or • Solar power recharges • Latest satellite pro
Slide 24: Realm Edge Solutions – Devices and Modules
Realm Edge Solutions – Devices and Modules Globalstar has brought its decades-long heritage of innovation to deliver a complete edge-to-endpoint solution. We call it the Realm Enablement Suite. For asset tracking and telematics applications that generate smart data at the edge and deliver with relia
Slide 25: Key IoT Verticals
Key IoT Verticals Vertical Illustrative Use Cases Key Partners • Tracking location of various field assets • Remote monitoring of pumps & compression • Tank level monitoring equipment • Leak detection and pipeline integrity • Flow, pressure and temperature monitoring Connected Oil at the well head F
Slide 26: Legacy Services
/4 Legacy Services Globalstar is committed to its legacy satellite business and serving its current subscriber base while offering future innovations in MSS. Globalstar’s existing Duplex and SPOT customers are expected to benefit from expanded capacity through additional ground infrastructure and sa
Slide 27: Legacy Products
Legacy Products Consumer / SPOT Voice & Data / Duplex SPOT Trace SPOT X SPOT Gen4 GSP-1700 • Tracking of assets beyond terrestrial • Two-way messaging with SPOT • Next generation SPOT Satellite GPS • Full voice / data capabilities coverage tracking and emergency capabilities Messenger • GSP-1700 -co
Slide 28: Legacy Products (cont’d)
Legacy Products (cont’d) Globalstar is an innovator and leader in life-saving emergency rescue products and services, including its SPOT line of products which connect people and assets in remote locations around the globe. 28 Investor Day 2022 / Connect Smarter Confidential
Slide 29: Investment Highlights
Investment Highlights Flagship Service Agreement announced in September bringing a communications industry changing critical 1 wholesale service 2 Set of unique & unreplicable satellite assets & worldwide spectrum authorizations in multiple favorable bands 3 Globalstar expects that its wholesale bus
Slide 30: Q&A Session
Q&A Session Globalstar
Slide 31: Appendix
Appendix 31 Investor Day 2022 / Connect Smarter
Slide 32: Net Income (Loss) to Adjusted EBITDA Recon
Net Income (Loss) to Adjusted EBITDA Recon Actual Through Estimated (amounts in thousands) 2022E 2026E 3Q 2022 4Q 2022 Net Income (Loss) $(251,580) $(14,000) $(265,580) $1,000 Interest income and expense, net 24,300 7,500 31,800 55,000 Derivative loss 1,066 - 1,066 - Income tax expense 51 - 51 - Dep
Slide 33: Contact Us
Contact Us Investor Contact Information Denise Davila investorrelations@globalstar.com 33 Investor Insert Day title 2022 here / / Connect Insert subtitle Smarter or date here