Globalstar, Inc. provides mobile satellite services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment. It also provides SPOT consumer retail products, such as SPOT satellite GPS messenger for personal tracking, emergency location, and messaging solutions; and SPOT Trace, an anti-theft and asset tracking device. In addition, the company offers commercial Internet of Things one-way transmission products to track cargo containers and rail cars, as well as to monitor utility meters, and oil and gas assets. Further, it sells wholesale minutes to independent gateway operators (IGOs); and provides engineering services, such as hardware and software designs to develop specific applications; and installation of gateways and antennas. The company distributes its products directly, as well as through independent agents, dealers and resellers, retailers, IGOs, and sales force and e-commerce Website. As of December 31, 2020, it had approximately 745,000 subscribers. The company primarily serves recreation and personal, government, public safety and disaster relief, oil and gas, maritime and fishing, construction, utilities, and transportation, as well as natural resources, mining, and forestry markets. Globalstar, Inc. has a strategic alliance with XCOM Labs to jointly commercialize XCOM's capacity-multiplying technology with Globalstar's Band n53 for 5G deployments in the United States and other countries where Globalstar has terrestrial rights. The company was founded in 1993 and is headquartered in Covington, Louisiana.
IPO Year: 2006
Exchange: AMEX
Website: globalstar.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/4/2023 | $7.79 | Outperform | Imperial Capital |
| 5/3/2023 | $1.75 → $0.97 | Underweight → Equal-Weight | Morgan Stanley |
| 10/31/2022 | $5.00 | Buy | Craig Hallum |
Globalstar, Inc. (NYSE:GSAT), the next-generation mobile satellite and communications services provider, announced today Peiker Holding Gmbh and Globalstar have entered a strategic partnership to bring satellite-based emergency services and telematics capabilities to the automotive industry. For decades, Peiker has been a leading provider of connectivity modules for use in vehicles that enable fast and reliable data transmission on the road. Peiker trailblazed the path to today's emergency call (eCall) services with its Polestar product, a telematics system based on mobile phones that tracks vehicles using GPS. Globalstar has been saving lives with its SPOT satellite messengers for two
Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company"), a next-generation telecommunications infrastructure and technology provider, held an investor day on Thursday, December 12, 2024. The Company's executive leadership team outlined Globalstar's strategic priorities and vision for the future by optimizing value for its core assets and providing updates to its short and long-term financial outlook. Additionally, the Company hosted several customer panels during the event, which are available for replay on Globalstar's investor relations website under "Events and Presentations". A summary of the event is detailed below: Terrestrial Wireless XCOM RAN Differentiated high-perfor
Globalstar, Inc. (NYSE:GSAT), the next-generation mobile satellite and communications services provider, announced today a collaboration agreement with Hawk Networks. Hawk is transforming the way operators access wireless spectrum with a more efficient and flexible approach to utilizing Globalstar's versatile Band 53 spectrum. Globalstar's collaboration with Hawk Networks simplifies access to valuable licensed spectrum by bundling it with core network components and other essential infrastructure. This streamlined approach reduces extended wait times and eliminates the complexities of traditional procurement processes. Operators of all sizes can now efficiently access the spectrum and tools
Device ecosystem maturing to support licensed and globally available 10 MHz channel Globalstar, Inc. (NYSE:GSAT), the next-generation mobile satellite and communications services provider, announced today the first 5G data call on Globalstar band n53™ spectrum, achieving 100 Mbps download and 60 Mbps upload speeds. These increased speeds allow for mission-critical applications such as robotics, autonomous forklifts, augmented reality (AR) applications, and enhanced video abilities to operate seamlessly. The test, conducted using XCOM RAN prototype radios and state of the art 5G modules, validates the utility of the Band n53 spectrum for even the most cutting-edge mobile applications and b
Parsons Corporation (NYSE:PSN) and Globalstar (NYSE:GSAT) announce their exclusive partnership to support the public, government, and defense sectors. The partnership also includes the successful demonstration of Parsons' software-defined satellite communications solution using Globalstar's Low Earth Orbit (LEO) satellite constellation. As the demand for reliable global communication services continues to grow in complex and congested areas, the collaboration between Parsons and Globalstar provides an innovative solution designed to enhance resilience against disrupted communication pathways. Utilizing Globalstar's LEO satellite constellation, the partnership aims to ensure resilient and
CHANTILLY, Va., Dec. 03, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE:PSN) and Globalstar (NYSE:GSAT) announce their exclusive partnership to support the public, government, and defense sectors. The partnership also includes the successful demonstration of Parsons' software-defined satellite communications solution using Globalstar's Low Earth Orbit (LEO) satellite constellation. As the demand for reliable global communication services continues to grow in complex and congested areas, the collaboration between Parsons and Globalstar provides an innovative solution designed to enhance resilience against disrupted communication pathways. Utilizing Globalstar's LEO satellite constellat
Renewed authorization includes continued authority to operate ancillary terrestrial networks Globalstar, Inc. (NYSE:GSAT) ("Globalstar"), the next-generation mobile satellite and communications services provider, today announced that the United States Federal Communications Commission ("FCC" or "the Commission") has issued a radio station authorization to GUSA Licensee LLC granting it a 15-year renewal of its authority to operate numerous categories of mobile earth terminals with its U.S. and French-licensed NGSO satellites throughout the United States and its territories. The Commission's reauthorization includes Globalstar's ability to continue to expand its ancillary terrestrial netw
Globalstar Europe Satellite Services Ltd., a wholly owned subsidiary of Globalstar, Inc. (NYSE:GSAT) (collectively "Globalstar" or the "Company"), the next-generation mobile satellite and communications service provider, today announced that value added reseller Spotter has seen sales of its satellite IoT-enabled horse tracking collar more than double in the last 24 months. Mongolia-based Spotter has reached a milestone of over 30,000 Horse Tracker collars deployed, enabling the reliable monitoring of free-roaming horses across Mongolia, Kazakhstan and Kyrgyzstan. Describing sales uptick of nearly 160% since October 2022, Spotter Co-Founder Tsogbadrakh Surenjargal said, "The growth has be
Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company"), a next-generation telecommunications infrastructure and technology provider, today announced that the Company will host an Analyst & Investor Day on Thursday, December 12, 2024 beginning at 9:00 a.m. ET. During the event, members of Globalstar's senior management team will provide detailed updates on certain elements of the Company's strategic initiatives, growth opportunities and long-term financial framework. The event will include formal presentations as well as Q&A sessions. Presentation materials will be available on the Company's investor relations website at https://investors.globalstar.com/events-and-presentations/event
The Company also announces board approval of a reverse stock split, expected to enhance trading fundamentals and increase institutional investor participation Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company"), a next-generation telecommunications infrastructure and technology provider, today announced its intent to transfer its common stock listing to the Nasdaq Global Select Market (the "Nasdaq") in the first quarter of 2025. In connection with this planned uplisting, the Company also announced that its Board of Directors has authorized a reverse stock split of its common stock, which is also expected to take place in the first quarter of 2025 at a ratio to be determined close
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Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company") today announced its financial results for the third quarter ended September 30, 2024. "Globalstar reported strong third quarter results highlighted by a 25% increase in total revenue. Net income and Adjusted EBITDA both benefited significantly from the increase in high-margin revenue with a favorable fluctuation in net income of $16 million and an increase in Adjusted EBITDA of 34%, reaching a record high during the quarter. Growth in wholesale capacity revenue continues to be the primary driver of our improved financial results with other recent business initiatives also contributing overall. As a result, we are increasing the l
Globalstar, Inc. (NYSE:GSAT) will announce its third quarter 2024 financial and operating results on Thursday, November 7, 2024 after the market closes. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Thursday, November 7, 2024 at 5:00 p.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/ssnimn99 To participate in the earnings call via teleconference, participants should register at the following link
Globalstar, Inc. (NYSE:GSAT) today announced its financial results for the second quarter ended June 30, 2024. "Globalstar reported record revenue during the second quarter, driven primarily by growth in wholesale capacity services and other recent business initiatives. The high-margin nature of this revenue contributed to a 20% increase in Adjusted EBITDA and an increase in cash on hand to $64 million as of June 30, 2024," commented Rebecca Clary, Chief Financial Officer. Clary continued, "Based on the continued momentum across our key growth categories, we are raising the low end of our revenue guidance to $235 million from $225 million and projected Adjusted EBITDA margin to 53% from 5
Globalstar, Inc. (NYSE:GSAT) will announce its second quarter 2024 financial and operating results on Thursday, August 8, 2024 before the market opens. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Thursday, August 8, 2024 at 9:00 a.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/whk4vk5x To participate in the earnings call via teleconference, participants should register at the following link
Globalstar, Inc. (NYSE:GSAT) today announced its operating and financial results for the first quarter ended March 31, 2024. Rebecca Clary, Chief Financial Officer, commented, "We are pleased with our financial results for the first quarter, which generally exceeded our expectations with total revenue higher on a sequential basis as well as compared to the prior year quarterly average. As previously disclosed, the prior year's first quarter included nonrecurring service revenue, as well as a spike in subscriber equipment sales when inventory was replenished after supply chain disruptions were resolved. Since we anticipated these factors, today we re-iterate our full year 2024 revenue and
Globalstar, Inc. (NYSE:GSAT) will announce its first quarter 2024 financial and operating results on Wednesday, May 8, 2024 after the market closes. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Wednesday, May 8, 2024 at 5:00 p.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call with be hosted via teleconference. Participants should dial in using the information below: Toll Free (+1) 800 717 1738 Local (+1) 646 307 1865 Please provide the conference ID 36209 when dialing in
Record annual revenue of $224 million, a year-over-year increase of over 50% Recent operational achievements include: Receiving an order from a major retailer for multiple XCOM RAN systems Generating revenue from a Band 53 deployment opportunity through Nokia Executing a new government services contract Remaining on track for launch of new satellites in 2025 Increased operating cash flows allow for investment in key initiatives, such as XCOM technology commercialization, product development and wholesale capacity utilization Globalstar, Inc. (NYSE:GSAT) today announced its operating and financial results for the fourth quarter and year ended December 31, 2023. "Glo
Globalstar, Inc. (NYSE:GSAT) will announce its fourth quarter and annual 2023 financial and operating results on Wednesday, February 28, 2024 before the market opens. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Wednesday, February 28, 2024 at 9:00 a.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/wmykc7an To participate in the earnings call via teleconference, participants should register at t
Globalstar, Inc. (NYSE:GSAT) today announced its operating and financial results for the third quarter and year to date period ended September 30, 2023. "Globalstar continued to sustain its record growth this year, with a significant improvement in profitability during the third quarter driven by a 53% increase in total revenue. Given the high margin nature of our revenue sources, Adjusted EBITDA increased 125% over the third quarter of last year. We continued to see momentum build outside of our wholesale services, reflecting new initiatives in Commercial IoT," said Rebecca Clary, Chief Financial Officer. Clary continued, "As a result, we are increasing guidance for 2023 total revenue to
Globalstar, Inc. (NYSE:GSAT) will announce its third quarter and year to date 2023 financial and operating results on Thursday, November 2, 2023 before the market opens. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Thursday, November 2, 2023 at 9:00 a.m. ET to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/rzh3ewbe To participate in the earnings call via teleconference, participants should register at the following l
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Imperial Capital initiated coverage of Globalstar with a rating of Outperform and set a new price target of $7.79
Morgan Stanley upgraded Globalstar from Underweight to Equal-Weight and set a new price target of $0.97 from $1.75 previously
Craig Hallum initiated coverage of Globalstar with a rating of Buy and set a new price target of $5.00
B. Riley Securities initiated coverage of Globalstar with a rating of Buy and set a new price target of $3.25
Morgan Stanley downgraded Globalstar from Equal-Weight to Underweight and set a new price target of $1
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Liquid Intelligent Technologies (Liquid), a business of Cassava Technologies, a leading technology group, is pleased to announce a strategic partnership with American connectivity innovator Globalstar to deliver advanced 5G connectivity solutions across Africa, the Middle East, and the Gulf. Strive Masiyiwa, founder and Chairman of Liquid Intelligent Technologies said, "I'm really excited by the connectivity solutions now emerging from breakthroughs in 5G private networks technologies. With this technology we are now able to provide services to large businesses like mines with their own 5G private networks that can also enable NextGen services like AI; this is huge." The partnership wil
Ben Wolff Re-joins Executive Team as Executive Vice Chairman Sarcos Technology and Robotics Corporation ("Sarcos") (NASDAQ:STRC), a technology leader in advanced robotic systems, solutions, and software that redefine human possibilities, today announced that the Company's interim President and Chief Executive Officer, Laura Peterson, has been appointed to serve as the Company's permanent President and Chief Executive Officer. The Company also announced that Sarcos co-founder, current director and former Chief Executive Officer, Ben Wolff, has re-joined the executive team as Executive Vice Chairman. Peterson has served as interim President and Chief Executive Officer since May 2023 and h
Paul E. Jacobs, Ph.D., founder of XCOM Labs and former CEO and Executive Chairman of Qualcomm, has become CEO of Globalstar Matt Grob, Chief Technology Officer of XCOM and former CTO of Qualcomm, has also joined Globalstar as Chief Technology Officer; Grob and other key XCOM technologists are expected to drive Globalstar's innovation in new and ongoing initiatives across both the satellite and terrestrial areas of the business Globalstar has exclusively licensed XCOM Labs' technology to enhance its terrestrial wireless efforts, with the goal of accelerating and expanding its ability to develop commercial applications and enter a broader range of end markets Globalstar, Inc. (NYSE:
MIDDLETOWN, R.I., June 22, 2022 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (NASDAQ:KVHI), today announced that its Board of Directors (the "Board") has appointed Brent C. Bruun as President and Chief Executive Officer and a member of the Board. The Board also appointed two seasoned industry executives, David Kagan and David Tolley, as directors of KVH. Mr. Bruun has served as KVH's Interim President and Chief Executive Officer since March 2022. He first joined KVH in 2008 and played a critical role in the growth of the Company's industry-leading mobile connectivity business. Cathy-Ann Martine-Dolecki, Chair of the Board, commented, "We would like to congratulate Brent on his appoi
Globalstar, Inc. (NYSE:GSAT) today announced Dave Haight has joined Globalstar as vice president of IoT. Haight is a prominent telecom and IoT industry leader, with extensive experience driving network connectivity growth and developing impactful strategies to build partner channels and strategic relationships in IoT. Haight joins Globalstar after his success developing the IoT business at AT&T as well as other companies. He served as vice president of business development for AT&T's Mobility Emerging Devices Organization, where he initiated and grew the organization into AT&T's current IoT business. This appointment further solidifies Globalstar's commitment to expansion within the IoT in
COVINGTON, La.--(BUSINESS WIRE)--Globalstar, Inc. (NYSE American: GSAT) (“Globalstar” or the “Company”) today announced a series of senior leadership and organizational changes to drive growth within the Commercial IoT sector. Amongst these changes, Globalstar has appointed Jim Mandala to the role of Vice President of Commercial IoT Sales with global responsibilities. Mandala has been with Globalstar for 15 years, and previously held the Vice President General Manager title overseeing sales in Canada and Europe, in addition to restructuring business operations in Africa. In his new role, Mandala will lead the partnership and sales efforts driving Globalstar’s Commercial IoT busi