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Globalstar, Inc.

GSAT NASDAQ Categories PDF
Communication Services · Telecommunications Services
Covington, LA 70433, United States IPO 2006 globalstar.com Updated Jun 26, 3:20pm
Price
$80.28
Market Cap
$10.3B
Employees
389
Beta
1.54
Avg Volume
1,688,327
CEO
Paul E. Jacobs
Business Description

Globalstar, Inc. operates globally, delivering a range of mobile satellite communication solutions. Its offerings encompass two-way voice and data satellite communication, available for both mobile and fixed applications. This includes providing connectivity and equipment crucial for remote business operations, recreational activities, safety protocols, and emergency response. They also supply stationary satellite communication equipment and services for industrial, commercial, and residential locations, including isolated communities and maritime vessels. Additionally, data modem services and associated hardware are a key part of their portfolio. Globalstar further extends its reach with consumer-oriented SPOT products, notably the SPOT satellite GPS messenger, which provides personal tracking, emergency location, and messaging capabilities. They also offer SPOT Trace, an advanced device designed for anti-theft and asset monitoring. The company also provides commercial one-way data transmission solutions for the Internet of Things (IoT), enabling the tracking of cargo containers and rail cars, alongside the monitoring of utility meters and critical oil and gas infrastructure. Additionally, Globalstar offers wholesale airtime to independent gateway operators (IGOs) and delivers specialized engineering support, encompassing custom hardware and software design for bespoke applications, alongside the installation of gateway infrastructure and antennas. Its distribution network is multifaceted, encompassing direct sales channels and a broad ecosystem of independent agents, authorized dealers, resellers, retailers, its internal sales team, independent gateway operators (IGOs), and its e-commerce platform. By the close of 2020, the company boasted roughly 745,000 subscribers. Their diverse clientele spans sectors such as recreation and personal use, government agencies, public safety and disaster relief organizations, oil and gas, maritime and fishing, construction, utilities, transportation, and various natural resources industries including mining and forestry. Globalstar maintains a strategic partnership with XCOM Labs, aimed at the joint commercialization of XCOM's advanced capacity-enhancing technology in conjunction with Globalstar's n53 spectrum for 5G deployments. This collaboration targets implementation within the United States and other nations where Globalstar possesses terrestrial spectrum rights. Established in 1993, Globalstar's corporate headquarters are situated in Covington, Louisiana.

Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Last updated: Jun 27, 2026 3:02am (5h ago)
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
Period Revenue Net Income Net Margin YoY/QoQ
Key Metrics
API Direct from provider CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALC
Stock Price / EPS (Diluted)
-535.20
Stock Price: $80.28
EPS (Diluted): -0.15
P/B Ratio (Price vs net asset value)
API
Stock Price / Book Value Per Share
21.75
Stock Price: $80.28
Total Equity: $355.73M
Shares: 126,757,000
EV/EBITDA (Total value vs operating profit)
API
Enterprise Value / EBITDA
92.59
Market Cap: $10.34B
Total Debt: $491.79M
Cash: $447.47M
EBITDA: $84.63M
Enterprise Value (Takeover price (cap + debt - cash))
API
Market Cap + Total Debt - Cash
$7.8B
Market Cap: $10.34B
Total Debt: $491.79M
Cash: $447.47M
P/S Ratio (Price per dollar of revenue)
API
Stock Price / Revenue Per Share
28.34
Stock Price: $80.28
Revenue: $272.99M
Shares: 126,757,000
EV/Sales (Total value vs revenue — works when P/E can't)
API
28.71
Gross Margin (Revenue left after direct costs)
API
Gross Profit / Revenue
64.8%
Gross Profit: $176.90M
Revenue: $272.99M
Operating Margin (Revenue left after all operations)
API
Operating Income / Revenue
5.4%
Operating Income: $14.66M
Revenue: $272.99M
Net Margin (Revenue left as actual profit)
API
Net Income / Revenue
-3.2%
Net Income: -$8.65M
Revenue: $272.99M
ROE (Profit from shareholder equity)
CALC
Net Income / Total Equity
-2.4%
Net Income: -$8.65M
Total Equity: $355.73M
ROIC (Profit from all invested capital)
CALC
NOPAT / Invested Capital
11.4%
Operating Income: $14.66M
Tax Rate: -212.0%
Equity: $355.73M
Total Debt: $491.79M
Cash: $447.47M
Current Ratio (Can it pay short-term bills)
API
Current Assets / Current Liabilities
2.42
Current Assets: $496.73M
Current Liabilities: $205.49M
Debt/Equity (Leverage — debt vs equity)
CALC
Total Debt / Total Equity
1.38
Short-Term Debt: $39.83M
Long-Term Debt: $451.95M
Total Debt: $491.79M
Total Equity: $355.73M
Rev/Share (Top-line per share)
CALC
Revenue / Shares Outstanding
$2.15
Revenue: $272.99M
Shares: 126,757,000
Book Value/Share (Net assets per share)
CALC
(Total Assets - Total Liabilities) / Shares
$2.81
Total Equity: $355.73M
Shares: 126,757,000
FCF/Share (Real cash generated per share)
CALC
(Operating Cash Flow + CapEx) / Shares
$0.61
Operating CF: $621.65M
CapEx: -$544.86M
Shares: 126,757,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
API
Last Annual Dividend / Stock Price
0.1%
Last Dividend: N/A
Stock Price: $80.28
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
Dividends Paid: N/A
Net Income: -$8.65M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares GSAT against LLM-researched typical ranges for its industry. One research call per industry, cached indefinitely — every stock in the same industry reuses the same baseline.
Deep Analysis

Pre-flight intelligence scans the company first, then routes to the right analytical methods.

0 Company Classification — What type of company is this?
1 Industry Landscape — Where is the industry headed?
2 Company Momentum — Where is this company trending?
3 Forward Projection — 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a DCF Valuation — Present value of future cash flows
4b Earnings Power Value — Floor value — worth with zero growth
4c Anchored PE — Industry PE adjusted for growth differential
4d Reverse DCF — What growth is the market pricing in?
4e Revenue-Based DCF — For growth/narrative companies (skip if mature earner)
4f Anchored P/S — Price-to-Sales peer comparison (skip if mature earner)
4g Scenario Analysis — Bull / Base / Bear (skip if mature earner)
4h Dividend Discount Model — For dividend/income stocks only
4i Book Value Analysis — For deep value / turnaround stocks only
4j Insider Activity — Are insiders buying or selling?
4f Cash Flow Quality — How trustworthy is the FCF?
4g Debt Maturity Risk — Can it handle its debt?
4h Macro Environment — Rates, market valuation, volatility
4i Sector Intelligence — How does this company compare within its sector?
4j Revenue Confidence — How reliable is the growth projection?
4k Sensitivity Analysis — How fragile is the fair value estimate?
4l Sector Demand Cycle — Is the sector in a boom, steady state, or contraction?
5 AI Investigation — Adaptive research engine (Claude)
5b Thesis Evaluation — What does the market believe? (narrative/platform stocks only)
6 Valuation Synthesis — Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 27, 2026 3:02am (5h ago)
Metric 2021 2022 2023 2024 2025
Revenue $124.3M $148.5M $223.8M $250.3M $273.0M
Cost of Revenue $52.0M $65.0M $69.5M $82.8M $96.1M
Gross Profit $72.3M $83.5M $154.3M $167.6M $176.9M
Operating Expenses $137.8M $304.5M $154.5M $168.5M $162.2M
Operating Income -$65.5M -$221.0M $-165,000 $-949,000 $14.7M
Net Income -$112.6M -$256.9M -$24.7M -$63.2M -$8.7M
EBITDA $31.0M $37.6M $88.4M $88.6M $84.6M
EPS $-0.90 $-2.10 $-0.20 $-0.59 $-0.15
EPS (Diluted)
Balance Sheet (Annual)
Last updated: Jun 27, 2026 3:02am (5h ago)
Metric 2021 2022 2023 2024 2025
Cash & Equivalents $14.3M $32.1M $56.7M $391.2M $447.5M
Total Current Assets $68.9M $81.2M $142.7M $447.6M $496.7M
Total Assets $814.1M $833.4M $924.3M $1.7B $2.3B
Current Liabilities $61.6M $197.1M $175.9M $141.5M $205.5M
Long-Term Debt $237.9M $132.1M $325.7M $476.8M $452.0M
Total Liabilities $448.7M $518.6M $545.3M $1.4B $2.0B
Total Equity $365.4M $314.8M $379.0M $358.9M $355.7M
Retained Earnings -$1.8B -$2.0B -$2.1B -$2.1B -$2.1B
Cash Flow (Annual)
Last updated: Jun 27, 2026 3:02am (5h ago)
Metric 2021 2022 2023 2024 2025
Operating Cash Flow $131.9M $63.8M $74.3M $439.2M $621.7M
Capital Expenditure -$45.5M -$39.3M -$166.8M -$118.9M -$544.9M
Free Cash Flow $86.3M $24.5M -$92.5M $320.3M $76.8M
Acquisitions (net) $350,000 $0 $0 $0 $0
Debt Repayment
Dividends Paid
Stock Buybacks $0 $0 $-181,000 $0 $0
Net Change in Cash -$53.7M $17.8M $24.7M $334.4M $56.3M
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 3:20pm (17h ago)
Metric 2027 2028 2029 2030
Revenue $339.8M
$336.4M – $343.3M
$464.5M
$455.4M – $471.5M
$693.2M
$679.6M – $703.7M
$763.6M
$748.6M – $775.1M
EBITDA $106.1M
$105.0M – $107.2M
$145.0M
$142.2M – $147.2M
$216.4M
$212.2M – $219.7M
$238.4M
$233.7M – $242.0M
Net Income $23.0M
$976,028 – $23.9M
$62.6M
$61.2M – $64.0M
$106.5M
$103.8M – $108.6M
$134.4M
$130.9M – $137.0M
EPS
Growth Trends (YoY %)
Last updated: Jun 27, 2026 3:02am (5h ago)
Metric 2022 2023 2024 2025
Revenue Growth +19.5% +50.7% +11.9% +9.0%
Gross Profit Growth +15.4% +84.9% +8.6% +5.6%
Operating Income Growth -237.4% +99.9% -475.2% +1,644.6%
Net Income Growth -128.1% +90.4% -155.5% +86.3%
EBITDA Growth +21.3% +135.2% +0.2% -4.5%
Narrative Economics
The story the market is telling about this stock — the intangible X-factor (founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for GSAT — it's generated by the pipeline (market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30