Globalstar reports Q4 adjusted EBITDA $30.4M vs. $25.1M last year

Reports Q4 revenue $61.2M, consensus $60.2M. Dr. Paul E. Jacobs, CEO, said, “2024 was a remarkable year for Globalstar (GSAT) as we executed well on several key initiatives that we believe will enable long-term, sustainable growth. We made important strides enhancing our product portfolio to address key end markets including consumer and government defense. This is highlighted through our recent partnership announcements with Parsons Corporation, Peiker Holding Company, and Liquid Intelligent Technologies. Furthermore, the recent expansion of our wholesale capacity arrangement demonstrates the importance of our network and we are pleased to further this relationship. While 2024 was a success by many measures, there remains a massive opportunity in front of us. We expect to make continued progress on our recently announced partnerships, along with the advances in our XCOM RAN technology, which we demonstrated live for the first time at our analyst and investor day in December. Finally, I would like to thank all of our employees for their dedication and hard work throughout 2024.”