Globalstar Inc (NAS:GSAT)

Q3 2025 Globalstar Inc Earnings Call Transcript

Nov 6, 2025 / 10:00 PM GMT

Release Date Price: $48.25 (-5.63%)

Transcript 10-Q8-K

Key Points

Positve

Globalstar Inc (GSAT) reported a record quarterly revenue of $73.8 million, driven by growth in wholesale capacity services and commercial IoT.
Commercial IoT service revenue increased due to a 6% rise in average subscribers, reaching 543,000.
Equipment sales from commercial IoT devices surged by 60% compared to the previous year's third quarter.
The company maintains healthy adjusted EBITDA margins of 51% in Q3 and 52% year-to-date, despite significant investments.
Globalstar Inc (GSAT) has a strong cash position with $346.3 million in cash and cash equivalents at the end of Q3 2025.

Negative

Net income was lower than the prior year's third quarter, primarily due to non-cash items such as higher interest expenses.
The company recorded net foreign currency losses from the remeasurement of intercompany balances.
Capital expenditures were high at $485.9 million, reflecting commitments for network expansion and upgrades.
There is uncertainty regarding the timing of satellite launches, with no new indications provided for the C3 constellation.
The Excom RAN business is still in the investment phase, with limited revenue expected in the current fiscal year.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GSAT.OQ - Globalstar Inc
Q3 2025 Globalstar Inc Earnings Call
Nov 06, 2025 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to the Global Star 3rd quarter 2025's earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your question, please press 11 again. Please be advised that today's conference call is being recorded. I would now like to hand the conference over to your first speaker today, Rebecca Clary, CFO. Please go ahead.

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Unidentified_2 [2]
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