The Q2 miss is noise — the stock trades on Amazon merger probability. Monitor FCC and international regulatory approvals; the next catalyst is the first HIBLEO-4 satellite launch (rescheduled for later this month), which is a closing condition. Any delay or regulatory setback would be bearish.
Price Chart
Executive Summary
Globalstar reported Q2 2026 revenue of $64.8M, down 3.5% YoY from $67.1M, and swung to a net loss of $26.5M from net income of $19.2M in the prior year. The miss was driven by a $6.6M out-of-period wholesale capacity revenue benefit in Q2 2025 that did not recur, and elevated M&A-related legal costs. The stock is primarily driven by the pending Amazon merger (HSR waiting period expired July 17, 2026), not quarterly operating results, making this a neutral update on the deal timeline.
Key Financial Metrics
Key Facts
- Q2 2026 revenue $64.8M vs $67.1M YoY (-3.5%)
- GAAP EPS -$0.23 vs +$0.13 YoY; Street consensus was -$0.09
- Adjusted EBITDA $26.0M vs $35.8M YoY, down 27%
- Commercial IoT subscribers hit record activations; total subs 803,980 vs 781,470 YoY
- HSR waiting period for Amazon merger expired July 17, 2026; deal expected to close in 2027
- Cash and equivalents $409.8M; debt $423.7M; operating cash flow $159.7M YTD
- Guidance suspended due to pending merger; no conference calls
Financial Impact
Revenue miss of ~$8.2M vs consensus ($64.8M actual vs $73.0M est); EPS miss of -$0.14 vs consensus -$0.09
Risk Factors
- Amazon merger fails to close (regulatory or satellite milestone risk)
- Continued cash burn from satellite capex ($208.3M YTD) without deal proceeds
- Further subscriber churn in legacy Duplex/SPOT segments
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001366868-26-000037 |
| Document: gsat-20260806.htm | 0001366868-26-000037 |
| Document: 0001366868-26-000037-index-headers.html | 0001366868-26-000037 |
| Document: 0001366868-26-000037-index.html | 0001366868-26-000037 |
| Document: 0001366868-26-000037.txt | 0001366868-26-000037 |
| 8-K Data (Synthetic) | 0001366868-26-000037 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 28, 2026 4w ago | Insider Cluster | $81.55 $82.45 | ▲ +1.10% | ▲ +1.04% | $83.15 (+1.96%) |
Aug 26, 2026 5w ago | Insider Cluster | $82.05 $82.46 | ▼ −0.50% | ▼ −1.01% | $83.15 (−1.34%) |
Aug 24, 2026 5w ago | Insider Cluster | $82.11 $82.52 | ▲ +0.50% | ▼ −0.81% | $83.15 (+1.27%) |
Aug 17, 2026 6w ago | Insider Cluster | $83.03 $81.83 | ▲ +1.45% | ▼ −0.53% | $83.15 (−0.14%) |
Aug 13, 2026 7w ago | Insider Cluster | $82.39 $81.99 | ▲ +0.49% | ▼ −1.51% | $83.15 (−0.92%) |
Aug 12, 2026 7w ago | Insider Cluster | $83.22 $81.97 | ▲ +1.50% | ▼ −0.40% | $83.15 (+0.08%) |
Aug 6, 2026 8w ago | 8-K | $83.24 $81.98 | ▼ −1.51% | ▼ −2.11% | $83.15 (−0.11%) |
Jun 11, 2026 16w ago | Institutional Cluster | $81.11 $80.02 | ▼ −1.34% | ▼ −3.23% | $83.15 (+2.52%) |
Feb 28, 2026 30w ago | Institutional Cluster | $62.00 $61.82 | ▼ −0.29% | ▲ +7.65% | $83.15 (+34.11%) |
Feb 27, 2026 31w ago | 8-K | $62.27 $64.16 | ▲ +3.04% | ▲ +10.59% | $83.15 (+33.53%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access