The combination of strong revenue growth, high EBITDA margins, and positive 2026 guidance suggests Globalstar is executing well on its strategy. Traders should monitor IoT subscriber growth and defense sector traction as key indicators of sustained momentum.
Price Chart
Executive Summary
Globalstar reported strong 2025 results with 9% year-over-year revenue growth to a record $273.0 million and an Adjusted EBITDA margin of 50%, in line with guidance. The company launched two-way satellite IoT capabilities, expanded its ground infrastructure, and secured defense sector wins. For 2026, it forecasts revenue between $280M and $305M with a 50% Adjusted EBITDA margin.
Key Financial Metrics
Key Facts
- Full year 2025 revenue was $273.0 million, up 9% YoY, reaching a record high for the fourth consecutive year
- Adjusted EBITDA was $136.1 million in 2025, representing a 50% margin
- Commercial IoT average subscribers increased 6% YoY, with IoT hardware sales and gross activations each growing 50%
- Fourth quarter 2025 revenue was $72.0 million, up 17.6% YoY
- 2026 guidance: revenue between $280M and $305M, Adjusted EBITDA margin of approximately 50%
- Cash and cash equivalents increased to $447.5 million as of December 31, 2025, from $391.2 million in 2024
Financial Impact
Revenue increased by $22.6 million year-over-year to $273.0 million, with Adjusted EBITDA at $136.1 million (50% margin). 2026 revenue guidance suggests 2.6% to 11.7% growth.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Commercial IoT | $27.3M | +50.0% |
| SPOT | $37.3M | -9.3% |
| Duplex | $15.2M | -24.4% |
Risk Factors
- Increased operating expenses due to investments in growth opportunities could pressure margins
- Tariff-related costs on imported equipment could impact profitability
- Dependence on future satellite deployments and regulatory approvals for next-generation services
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001366868-26-000009 |
| Document: gsat-20260227.htm | 0001366868-26-000009 |
| Document: 0001366868-26-000009-index-headers.html | 0001366868-26-000009 |
| Document: 0001366868-26-000009-index.html | 0001366868-26-000009 |
| Document: 0001366868-26-000009.txt | 0001366868-26-000009 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 28, 2026 4w ago | Insider Cluster | $81.55 $82.45 | ▲ +1.10% | ▲ +1.04% | $83.22 (+2.05%) |
Aug 26, 2026 5w ago | Insider Cluster | $82.05 $82.46 | ▼ −0.50% | ▼ −1.01% | $83.22 (−1.43%) |
Aug 24, 2026 5w ago | Insider Cluster | $82.11 $82.52 | ▲ +0.50% | ▼ −0.81% | $83.22 (+1.35%) |
Aug 17, 2026 6w ago | Insider Cluster | $83.03 $81.83 | ▲ +1.45% | ▼ −0.53% | $83.22 (−0.23%) |
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Aug 12, 2026 7w ago | Insider Cluster | $83.22 $81.97 | ▲ +1.50% | ▼ −0.40% | $83.22 (−0.00%) |
Aug 6, 2026 8w ago | 8-K | $83.24 $81.98 | ▼ −1.51% | ▼ −2.11% | $83.22 (−0.02%) |
Jun 11, 2026 16w ago | Institutional Cluster | $81.11 $80.02 | ▼ −1.34% | ▼ −3.23% | $83.22 (+2.60%) |
Feb 28, 2026 30w ago | Institutional Cluster | $62.00 $61.82 | ▼ −0.29% | ▲ +7.65% | $83.22 (+34.23%) |
Feb 27, 2026 31w ago | 8-K | $62.27 $64.16 | ▲ +3.04% | ▲ +10.59% | $83.22 (+33.64%) |
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