| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 70.06 | 16.7% |
| Total Income | 70.06 | 16.7% |
| Expenditure | 61.89 | 9.7% |
| PBT | -15.82 | 24.1% |
| Net Profit | -17.42 | 0.5% |
| OPM | 11.66% | 25.82pp |
| NPM | -24.86% | 4.01pp |
| EPS | -0.16 | 0.0% |
Globalstar Announces Q1 2026 Revenue of $70.1 Million, Up 17% YoY
08 May 2026 · 8 May, 1:58 am
Summary
Globalstar, Inc. reported strong financial results for the first quarter of 2026, with total revenue reaching $70.1 million, marking a 17% increase year-over-year, primarily driven by higher wholesale capacity services revenue. The company achieved an income from operations of $8.2 million, a substantial turnaround from a loss of $8.5 million in the prior year's quarter, and Adjusted EBITDA also saw an increase to $33.5 million. Despite these operational improvements, the net loss slightly widened to $17.4 million due to higher interest expense and foreign currency losses. A significant corporate development was the announcement of a definitive merger agreement with Amazon, expected to close in 2027, which management views as a validation of Globalstar's long-term strategy. The company also advanced its satellite constellation roadmap and received favorable regulatory clarity from the FCC.
Key Highlights
- 1
Globalstar generated first quarter 2026 revenue of $70.1 million, marking a 17% increase from the prior year's first quarter, primarily bolstered by higher wholesale capacity services revenue.
- 2
The company reported income from operations of $8.2 million during the first quarter of 2026, a significant improvement compared to a loss from operations of $8.5 million in the prior year's period.
- 3
Adjusted EBITDA for the first quarter of 2026 rose to $33.5 million, up from $30.4 million in the prior year's first quarter.
- 4
Net loss for the first quarter of 2026 was $17.4 million, a slight increase from $17.3 million in the prior year's first quarter, mainly due to higher interest expense and foreign currency losses.
- 5
Globalstar announced its entry into a definitive merger agreement with Amazon, with the acquisition expected to close in 2027, which management views as a significant strategic milestone.
- 6
Cash and cash equivalents stood at $358.4 million as of March 31, 2026, compared to $447.5 million at December 31, 2025.
- 7
The company is advancing its satellite constellation roadmap with two planned launches in 2026 and further development of its third-generation constellation, designed to expand network capacity and enhance service durability.
Management Comments
Dr. Paul E. Jacobs
We delivered strong operational and financial results in the first quarter, continuing the momentum we built entering 2026. Demand is growing across our government, defense, and private wireless businesses, reflecting the market's need for scalable, integrated solutions across both satellite and terrestrial based connectivity. Subsequent to the quarter end, we announced our entry into a merger agreement with Amazon, which we believe marks a significant milestone — one that validates the long-term strategy Globalstar has pursued for more than 30 years and positions us to deliver on the vision of connecting users and devices anywhere and anytime. Finally, Globalstar greatly appreciates the recent decision of the FCC’s Space Bureau regarding the exclusive nature of our licensed MSS spectrum.
Informational and educational content only. Not investment advice.