Summary
Globalstar, Inc. reported a total revenue of $70.1 million for the three months ended March 31, 2026, an increase of 17% from the prior year's $60.0 million. This growth was primarily driven by a 26% increase in wholesale capacity services, largely due to updated service agreements with their primary customer, Apple Inc. Despite revenue growth, the company reported a net loss of $17.4 million for the quarter, a slight increase from the $17.3 million net loss in the same period of 2025. The company's cash position decreased to $358.4 million from $447.5 million, reflecting significant investments in network upgrades and expansion, including for the Extended MSS Network. A significant development disclosed is the pending acquisition of Globalstar by Amazon.com, Inc., announced on April 13, 2026. The transaction is subject to regulatory approvals and other closing conditions, with an expected closing in 2027. This acquisition introduces considerable uncertainty and potential benefits, with stockholders having the option to receive either cash or Amazon stock, subject to proration and potential adjustments based on operational milestones. The company's financial position remains impacted by substantial capital expenditures for network development, which are crucial for fulfilling its contractual obligations with its key customer and for future growth. The company's balance sheet shows total assets of $2.38 billion and total liabilities of $2.03 billion as of March 31, 2026. Key assets include property and equipment, with significant ongoing investments in network infrastructure. Long-term debt stands at $432.2 million. While the company is investing heavily in its future network capabilities, the ongoing net losses and the pending acquisition by Amazon are critical factors for investors to consider.
Financial Highlights
39 data points| Revenue | $70.06M |
| SG&A Expenses | $14.83M |
| Operating Expenses | $61.89M |
| Operating Income | $8.17M |
| Net Income | -$17.42M |
| EPS (Basic) | $-0.16 |
| EPS (Diluted) | $-0.16 |
| Shares Outstanding (Basic) | 128.42M |
| Shares Outstanding (Diluted) | 128.42M |
Key Highlights
- 1Total revenue increased 17% year-over-year to $70.1 million for Q1 2026, driven by wholesale capacity services.
- 2Net loss remained consistent at $17.4 million for Q1 2026, compared to $17.3 million in Q1 2025.
- 3Cash and cash equivalents decreased to $358.4 million as of March 31, 2026, from $447.5 million at year-end 2025, due to capital expenditures.
- 4The company announced a definitive agreement to be acquired by Amazon.com, Inc. for an expected closing in 2027.
- 5Significant investments are being made in network upgrades and expansion, particularly for the Extended MSS Network.
- 6Wholesale capacity services, largely from Apple Inc., accounted for 66% of total revenue in Q1 2026.
- 7The company continues to manage substantial long-term debt, totaling $432.2 million as of March 31, 2026.