Globalstar Inc ( (GSAT) ) has released its Q4 earnings. Here is a breakdown of the information Globalstar Inc presented to its investors.
Globalstar Inc. is a telecommunications company that provides satellite and terrestrial connectivity services, leveraging its Low Earth Orbit satellite constellation to offer secure data transmission for various sectors, including consumer, business, and government applications.
In its 2024 financial results, Globalstar reported a 12% increase in revenue, reaching a record $250.3 million, driven by strong service revenue growth in Commercial IoT and wholesale capacity services. The company also successfully uplisted to the Nasdaq Global Select Market and received significant investment under its updated services agreements.
Key financial highlights include a record adjusted EBITDA of $135.3 million, a 16% increase from the previous year, and a net loss of $63.2 million, primarily due to non-operating items such as debt extinguishment and foreign currency losses. Strategic partnerships with companies like Parsons Corporation and Peiker Holding GmbH were also announced, enhancing Globalstar’s product offerings in public sector, defense, and automotive markets.
Looking forward, Globalstar maintains a positive outlook for 2025, expecting revenue between $260 million and $285 million and an adjusted EBITDA margin of approximately 50%, as it continues to invest in its terrestrial network and long-term growth initiatives.