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: 2025
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. (NASDAQ:GSAT) ("Globalstar" or the "Company"), a next-generation telecommunications infrastructure and technology provider, today announced two new leaders for its terrestrial spectrum and network solutions and wholesale satellite capacity businesses. The terrestrial spectrum and network solutions business aims to deliver transformative, innovative private wireless network solutions enabled by Globalstar's XCOM RAN and Band n53 assets. The wholesale satellite capacity business aims to broaden access to Globalstar's satellite solutions for consumers through strategic wholesale partnerships. The terrestrial spectrum and network solutions business will be led by Dr. Tamer Ka
Globalstar, Inc., (NASDAQ:GSAT) ("Globalstar" or the "Company"), a next-generation telecommunications infrastructure and technology provider, announces the grand opening of its state-of-the-art Satellite Operations Control Center ("SOCC") at its headquarters in Covington, La., on March 17. This milestone marks a significant expansion of Globalstar's operational capabilities and reinforces the Company's strategic growth as it advances next-generation satellite and connectivity solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250318709242/en/Rebecca Clary, Globalstar CFO; Dr. Paul Jacobs, Globalstar CEO; Jay Monroe, Global
This partnership will, for the first time, enable seamless connectivity across cellular, private and satellite networks worldwide GCT Semiconductor Holding Inc. ("GCT") (NYSE:GCTS), a leading designer and supplier of advanced 4G and 5G semiconductor solutions, and Globalstar, Inc. (NASDAQ:GSAT), the next-generation mobile satellite and communications services provider, announced today a partnership to develop two-way satellite messaging systems for Globalstar's mobile devices and modules. Globalstar's recently announced RM200M product will use GCT's IoT chip GDM7243i, with future products using its 4G LTE chip GDM7243SL and 5G IoT-enabled chipset to support Globalstar's satellite network.
Full year 2024 revenue increased 12% to a record $250.3 million, exceeding the high end of revenue guidance Record annual service revenue for Commercial IoT, representing a 15% increase from the prior year On track to deliver scheduled milestones to support next phases of direct-to-cellular service Received $0.9 billion of the total $1.7 billion investment under the Updated Services Agreements announced in November 2024 Uplisted to the Nasdaq Global Select Market on February 11, 2025, following effectiveness of a 1-for-15 reverse stock split Globalstar, Inc. (NASDAQ:GSAT) ("Globalstar" or the "Company") today announced its financial results for the fourth quarter and year en
Globalstar, Inc., (NASDAQ:GSAT) ("Globalstar"), a next-generation telecommunications infrastructure and technology provider, today announced the launch of a two-way satellite IoT solution via its LEO constellation. This new connectivity solution offers a unique low-power satellite communication platform. It enables assured delivery, low-latency messaging, and reliable, globally available command and control for a wide variety of applications, such as fleet tracking, asset monitoring, pipeline telemetry, vessel tracking, disaster communications, and precision farming. Globalstar's two-way RM200M module is the first satellite module with integrated GNSS, Bluetooth®, accelerometer, and app
Globalstar, Inc. (NASDAQ:GSAT) will announce its fourth quarter and full year 2024 financial and operating results on Thursday, February 27, 2025 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, February 27, 2025 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/3tgt97ge To participate in the earnings call via teleconference, participants should register at the follow
Satellite connectivity, private 5G networks, and robust IoT devices to headline Globalstar's presence at annual tradeshow Globalstar, Inc., (NASDAQ:GSAT) ("Globalstar"), a next-generation telecommunications infrastructure and technology provider, will be showcasing its diverse solution set of connectivity products and services during Mobile World Congress (MWC) Barcelona, March 3-6. As one of the world's premier mobile technology events, MWC Barcelona brings together industry leaders, innovators, and decision-makers to explore the future of connectivity. Globalstar's participation underscores its commitment to providing reliable, global solutions through both satellite and terrestrial com
February 18, 2025-- Comtech Telecommunications Corp. (NASDAQ:CMTL) ("Comtech" or the "Company"), a global communications technology leader, today announced that the Comtech Board of Directors (the "Board") has appointed David (Dave) B. Kagan as an independent director to the Board, effective February 13, 2025. Mr. Kagan has deep experience leading satellite communications companies over the course of his career, which spans more than 35 years. Most recently, he served as CEO of Globalstar, where he drove significant top and bottom line improvements. He also expanded Globalstar's services beyond the legacy of one-way messaging and GPS to focus on satellite IoT and was a key contributor in s
SmartOne Solar Honored for Excellence in Innovation Globalstar, Inc. (NASDAQ:GSAT) ("Globalstar") a next-generation telecommunications infrastructure and technology provider, announced that its solar-powered asset tracker SmartOne Solar has received a 2024 IoT Excellence Award presented by TMC and Crossfire Media. The 2024 IoT Evolution IoT Excellence Award honors innovative products that support the availability of information being deduced, inferred and directly gathered from sensors, systems and anything else that is supporting better business and personal decisions. A revolutionary IoT device, the SmartOne Solar is the only solar asset tracker with leading certifications for hazar
View the entire bell ringing ceremony here Globalstar innovative LEO satellite services, borderless terrestrial spectrum, and private 5G networking deliver industry-leading market offerings Globalstar CEO Dr. Paul E. Jacobs and executive team attended investor meetings after the ceremony Bell-ringing ceremony marks deepening market presence and commitment Watch Dr. Paul E. Jacobs' interview on CNBC's Squawk Box Globalstar, Inc. (NASDAQ:GSAT) ("Globalstar"), a next-generation telecommunications infrastructure and technology provider, announced today it visited the Nasdaq MarketSite in Times Square on Tuesday, February 11, 2025, to ring the opening bell. In recognition of this
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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Full year 2024 revenue increased 12% to a record $250.3 million, exceeding the high end of revenue guidance Record annual service revenue for Commercial IoT, representing a 15% increase from the prior year On track to deliver scheduled milestones to support next phases of direct-to-cellular service Received $0.9 billion of the total $1.7 billion investment under the Updated Services Agreements announced in November 2024 Uplisted to the Nasdaq Global Select Market on February 11, 2025, following effectiveness of a 1-for-15 reverse stock split Globalstar, Inc. (NASDAQ:GSAT) ("Globalstar" or the "Company") today announced its financial results for the fourth quarter and year en
Globalstar, Inc. (NASDAQ:GSAT) will announce its fourth quarter and full year 2024 financial and operating results on Thursday, February 27, 2025 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, February 27, 2025 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/3tgt97ge To participate in the earnings call via teleconference, participants should register at the follow
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
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February 18, 2025-- Comtech Telecommunications Corp. (NASDAQ:CMTL) ("Comtech" or the "Company"), a global communications technology leader, today announced that the Comtech Board of Directors (the "Board") has appointed David (Dave) B. Kagan as an independent director to the Board, effective February 13, 2025. Mr. Kagan has deep experience leading satellite communications companies over the course of his career, which spans more than 35 years. Most recently, he served as CEO of Globalstar, where he drove significant top and bottom line improvements. He also expanded Globalstar's services beyond the legacy of one-way messaging and GPS to focus on satellite IoT and was a key contributor in s
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
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