Earnings Releases·Nov 5, 2026, 8:02 AM ET

Globalstar — Third Quarter 2026 Earnings Summary

Q3 2026 total revenue declined 4% year-over-year to $70.9 million, driven by service revenue drops in Duplex and SPOT segments, while equipment sales rose 31% to $5.5 million; full-year-to-date revenue grew 2% to $205.7 million.
The company reported a Q3 net loss of $15.7 million versus a $1.1 million net income in the prior year period, with Adjusted EBITDA falling to $30.3 million from $37.6 million year-over-year.
Pending Amazon transaction expected to close in 2027 subject to regulatory approvals and HIBLEO-4 satellite milestones; Globalstar will not issue future guidance or hold conference calls regarding the deal.
Commercial IoT achieved record activations with a 25% increase in gross activations and ARPU growth to $4.34, while the company successfully launched HIBLEO-4 satellites and secured FCC authorization for the C-3 constellation.
Cash and cash equivalents decreased to $329.9 million as of September 30, 2026, from $447.5 million at year-end 2025, reflecting $414.2 million in capital expenditures and higher operating expenses related to the Amazon transaction.