Q4 2025 Globalstar Inc Earnings Call Transcript
Key Points
- Globalstar Inc (GSAT) achieved record full-year revenue of $273 million in 2025, marking a 9% increase over 2024.
- The company reported a significant improvement in profitability, with income from operations reaching $7.4 million compared to a loss of $0.9 million in 2024.
- Adjusted EBITDA reached a record $136.1 million, representing a 50% margin, reflecting higher revenue and strategic investments.
- Globalstar Inc (GSAT) successfully launched two-way satellite IoT capabilities, expanding its IoT portfolio and addressable market.
- The company made significant progress in infrastructure expansion, including the deployment of a new satellite constellation and expanded ground infrastructure.
- Despite improvements, Globalstar Inc (GSAT) reported a net loss of $7.6 million for the year, although this was an improvement from a $63.2 million loss in 2024.
- Higher operating expenses were noted, driven by personnel costs, investment in XCOM RAN development, and increased legal and professional fees.
- The company faced a $1.1 million charge related to tariffs on equipment imported and re-exported to foreign subsidiaries.
- There was a decline in duplex and spot subscriber numbers, partially offsetting revenue gains.
- The company is still in the process of building out customer solutions for its two-way IoT system, indicating that significant revenue from this segment is not yet realized.
(Operator Instuctions)
Good day and thank you for standing by. Welcome to the GlobalStar fourth quarter and full year 2025 earnings conference call. I would now like to hand the conference over to your speaker today, Rebecca Clary, CFO. Please go ahead.
Thank you, operator, and good morning, everyone.
Before we begin, please note that today's call contains forward-looking statements intended to fall within the safe harbor provided under the securities laws. Factors that could cause the results to differ materially are described in the risk factors section of Global Source SEC filings, including its most recent annual report on Form 10k and its other SEC filings, as well as today's earnings release.
Also note that management may reference EBITDA, adjusted EBITDA, free cash flow, or adjusted free cash flow on this call, which are financial measures not recognized under US GAAP as required by SEC rules and regulations. These non-GAAP financial measures are
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