The call communicated clear operational and financial progress: record revenue, a record adjusted EBITDA and 50% margin, improved operating income, strong cash position and growth in IoT hardware and subscribers. Strategic milestones (two-way IoT commercial rollout, partnerships with Parsons and Boingo, SBIR involvement, and expanded ground infrastructure) underpin a confident 2026 outlook with revenue guidance of $280M–$305M and continued 50% adjusted EBITDA margin. Offsetting these positives are elevated near-term operating expenses and advance investments (notably XCOM RAN), a remaining GAAP net loss, a tariff-related Q4 charge, subscriber churn in some product lines, large capex and ITU commitments, and two-way IoT revenues that are not yet material. Overall, highlights materially outweigh the lowlights, though execution and capitalization risks remain due to substantial ongoing investments.

Company Guidance

Globalstar guided 2026 total revenue of $280–305 million with an adjusted EBITDA margin of approximately 50%, reflecting confidence in scaling next‑generation infrastructure and commercial opportunities; that outlook is anchored by 2025 results including record revenue of $273.0M (+9% YoY), adjusted EBITDA of $136.1M (50% margin), Q4 revenue of $72.0M (service $67.4M; equipment $4.6M), full‑year service revenue $257.3M (+8%), equipment revenue $15.7M (+24%), cash & cash equivalents $447.5M, operating cash flow $621.7M (including $430.6M infrastructure prepayment), capex $550.4M, adjusted free cash flow $171.5M, principal debt $410.0M, IoT hardware revenue +50% YoY, and average commercial IoT subscribers +6% YoY.

Record Full-Year Revenue

Total revenue of $273,000,000 for FY2025, a 9% increase year-over-year and the fourth consecutive year of record revenue.

Strong Service and Equipment Revenue Growth

Service revenue of $257,300,000, up 8% YoY; subscriber equipment revenue of $15,700,000, up 24% YoY.

Improved Profitability and EBITDA Strength

Adjusted EBITDA reached a record $136,100,000 with a 50% margin (in line with guidance); income from operations of $7,400,000 vs. a $900,000 loss in 2024.

Q4 Revenue and EBITDA Improvement

Q4 total revenue of $72,000,000; service revenue $67,400,000 (Q4 service revenue +17% YoY) and equipment revenue $4,600,000 (Q4 equipment +31% YoY). Q4 adjusted EBITDA was $32,400,000, up 7% YoY.

Material Cash Position and Operating Cash Flow

Cash and cash equivalents of $447,500,000 at year-end (up from $391,200,000, ~+14%); operating cash flows of $621,700,000 in 2025 (including $430,600,000 infrastructure prepayment).

Adjusted Free Cash Flow Growth

Adjusted free cash flow of $171,500,000, up from $131,900,000 in 2024 (approximately +30% YoY).

Strategic Product and Market Milestones

Commercial rollout of RM-200MS two-way satellite IoT module and launch of two-way satellite IoT capabilities, expanding addressable market and enabling higher-value use cases.

Progress on Partnerships, Defense & XCOM RAN

Notable partner and program progress: Parsons proof-of-concept and trials, Boingo PoC for XCOM RAN, Fireworks (formerly XCOM Labs) awarded $1.9M SBIR Phase II contract selecting Globalstar as a technology partner, and completion of 50% of ITU financial commitments.

Globalstar (GSAT) Earnings, Revenues Date & History

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GSAT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2026	2026 (Q1)	-0.05 / -	-0.134	―	―	―
Feb 27, 2026	2025 (Q4)	-0.02 / -0.11	-0.42	74.29% (+0.31)	―
Nov 06, 2025	2025 (Q3)	-0.01 / <0.01	0	―	―
Aug 07, 2025	2025 (Q2)	-0.05 / 0.03	-0.15	120.00% (+0.18)	―
May 08, 2025	2025 (Q1)	-0.03 / -0.13	-0.15	10.67% (+0.02)	―
Feb 27, 2025	2024 (Q4)	<0.01 / -0.42	-0.067	-526.87% (-0.35)	―
Nov 07, 2024	2024 (Q3)	-0.02 / 0.00	0.069	―	―
Aug 08, 2024	2024 (Q2)	-0.03 / -0.15	0	―	―
May 08, 2024	2024 (Q1)	-0.04 / -0.15	0.102	-247.06% (-0.25)	―
Feb 28, 2024	2023 (Q4)	-0.03 / -0.07	-0.031	-116.13% (-0.04)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GSAT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 27, 2026	$57.88	$62.27	+7.58%
Nov 06, 2025	$48.25	$50.48	+4.62%
Aug 07, 2025	$25.18	$28.47	+13.07%
May 08, 2025	$20.19	$17.59	-12.90%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Globalstar (GSAT) report earnings?

Globalstar (GSAT) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).

What is Globalstar (GSAT) earnings time?

Globalstar (GSAT) earnings time is at Apr 30, 2026, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is GSAT EPS forecast?

GSAT EPS forecast for the fiscal quarter 2026 (Q1) is -0.05.