MergerAug 6, 2026, 08:08 AM
Globalstar Merger with Amazon Progresses; Q2 Revenue $64.8M
AI Summary
Globalstar announced its second quarter and year-to-date 2026 financial results, alongside an update on its proposed merger with Amazon. The HSR waiting period for the Amazon transaction expired in July 2026, with the merger now expected to close in 2027. For Q2 2026, the company reported $64.8 million in revenue and a net loss of $26.5 million, with Adjusted EBITDA at $26.0 million. Operational highlights included record high Commercial IoT subscriber activations and continued progress on next-generation satellite constellation initiatives.
Key Highlights
- Amazon merger HSR waiting period expired in July 2026, transaction expected to close in 2027.
- Q2 2026 revenue was $64.8 million, including $60.0 million service revenue.
- Q2 2026 net loss was $26.5 million, compared to net income of $19.2 million in Q2 2025.
- Q2 2026 Adjusted EBITDA was $26.0 million, down from $35.8 million in Q2 2025.
- Achieved record high Commercial IoT subscriber activations in Q2 2026.
- First set of replacement satellites launch rescheduled for later this month.
- Cash and cash equivalents stood at $409.8 million as of June 30, 2026.
- YTD 2026 total revenue was $134.8 million, with a net loss of $41.4 million.
Price Impact
More from GSAT