Globalstar, Inc. (GSAT) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and thank you for standing by. Welcome to the Global STAR 3rd Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You'll then hear an automated message advising that your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Rebecca Clary, CFO. Please go ahead. Thank you, operator, and good afternoon, everyone. Before we begin, please note that today's call contains forward-looking statements intended to fall within the safe harbor provided under the securities laws. Factors that could cause the results to differ materially are described in the Risk Factors section of GlobalSTAR's SEC filings, including its annual report on Form 10-K for the financial year ending 2023, and its other SEC filings, as well as today's earnings release. Also note that management may reference EBITDA or adjust EBITDA on this call, which are financial measures not recognized under U.S. GAAP. As required by SEC rules and regulations, these non-GAAP financial measures are reconciled to their most comparable GAAP financial measures in the earnings release, which is available on our website. Before I get into the financials, I wanted to briefly touch on the deal we announced last week and closed on Tuesday, which extends the services agreement with our largest customer. As part of the updated agreement, we will provide a new network in addition to what we operate today and separate from the satellite scheduled to start launchi...