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Globalstar, Inc.
American communications services company, incorporated in Delaware.
Price unavailable
Last updated Oct 18, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
2.7%Operating margin2
-3.2%Net margin2
9.0%Revenue growth, 20252
-2.4%Return on equity2
1.27×Debt to equity2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Services, Wholesale Capacity brought in 63% of the revenue Globalstar, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Services, Wholesale Capacity | $109.1M | $145.3M | $172.7M |
| Services, SPOT | $44.2M | $41.1M | $37.3M |
| Commercial loT | $22.9M | $26.2M | $27.3M |
| Product | $19.6M | $12.7M | $15.7M |
| Services, Duplex | $25.9M | $20.2M | $15.2M |
| Services, Other | $2.1M | $4.8M | $4.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development2¢$6.1M
- Selling, general and admin19¢$51.4M
- Other costs77¢$209.6M
- Income tax2¢$5.9M
Out of $273.0M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid2¢$10.6M
- Kept or used elsewhere98¢$611.0M
Out of $621.6M of cash from operations.2
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenue | $273.0M | $250.3M | $223.8M |
| Cost of subscriber equipment sales - reduction in the value of inventory | $0 | $327.0K | $0 |
| Marketing, general and administrative | $51.4M | $43.4M | $43.5M |
| Stock-based compensation | $23.4M | $35.5M | $22.5M |
| Reduction in the value and disposal of long-lived assets | $7.2M | $556.0K | $363.0K |
| Depreciation, amortization and accretion | $87.4M | $89.0M | $88.2M |
| Total operating expenses | $265.6M | $251.3M | $224.0M |
| Income (loss) from operations | $7.4M | -$949.0K | -$165.0K |
| Loss on extinguishment of debt | $0 | -$27.4M | -$10.4M |
| Loss on equity issuance | $0 | $0 | -$5.0M |
| Interest income and expense, net of amounts capitalized | -$40.9M | -$13.6M | -$14.6M |
| Foreign currency gain (loss) | $15.7M | -$16.6M | $4.9M |
| Derivative gain (loss) and other income (expense) | $15.0M | -$2.5M | $1.7M |
| Total other expense | -$10.2M | -$60.1M | -$23.4M |
| Loss before income taxes | -$2.8M | -$61.0M | -$23.6M |
| Income tax expense | $5.9M | $2.1M | $1.1M |
| Net loss | -$8.7M | -$63.2M | -$24.7M |
| Net loss attributable to common shareholders (Note 14) | -$19.3M | -$73.8M | -$35.3M |
| Basic (in dollars per share) | -$0.15 | -$0.59 | -$0.29 |
| Diluted (in dollars per share) | -$0.15 | -$0.59 | -$0.29 |
| Basic (in shares) | 126.8M shares | 125.9M shares | 122.3M shares |
| Diluted (in shares) | 126.8M shares | 125.9M shares | 122.3M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.2
| Period ending | 2025-12-31 | 2025-01-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $447.5M | $391.2M | |||
| Accounts receivable, net of allowance for credit losses of $1,468 and $1,504, respectively | $20.0M | $27.0M | |||
| Inventory | $9.6M | $10.7M | |||
| Prepaid expenses and other current assets | $19.7M | $18.7M | |||
| Total current assets | $496.7M | $447.6M | |||
| Property and equipment, net | $1.3B | $673.6M | |||
| Operating lease right of use assets, net | $66.7M | $31.8M | |||
| Prepaid network costs | $198.4M | $312.3M | |||
| Derivative asset | $114.5M | $108.8M | |||
| Intangible and other assets, net of accumulated amortization of $12,511 and $7,625, respectively | $144.5M | $136.1M | |||
| Total assets | $2.3B | $1.7B | |||
| Current portion of long-term debt | $31.8M | $34.6M | |||
| Accounts payable and accrued expenses | $56.0M | $29.7M | |||
| Accrued network construction costs | $55.2M | $15.6M | |||
| Payables to affiliates | $391.0K | $394.0K | |||
| Deferred revenue, net | $62.0M | $61.2M | |||
| Total current liabilities | $205.5M | $141.5M | |||
| Long-term debt | $452.0M | $476.8M | |||
| Operating lease liabilities | $54.5M | $26.3M | |||
| Deferred revenue, net | $806.9M | $288.2M | |||
| Other non-current liabilities | $451.6M | $418.6M | |||
| Total non-current liabilities | $1.8B | $1.2B | |||
| Total liabilities | $2.0B | $1.4B | |||
| Additional paid-in capital (1) | $2.5B | $2.5B | |||
| Accumulated other comprehensive income | $3.3M | $13.5M | |||
| Retained deficit | -$2.1B | -$2.1B | |||
| Total stockholders equity | $355.7M | $358.9M | $379.0M | $314.8M | |
| Total liabilities and stockholders equity | $2.3B | $1.7B | |||
| Accounts receivable, allowance | $1.5M | $1.5M | |||
| Intangible and other assets, accumulated amortization | $12.5M | $7.6M | |||
| Common stock, shares authorized (in shares) | 2.1B shares | ||||
| Common stock, shares outstanding (in shares) | 1.9B shares | ||||
| Reverse stock split | 1 pure |
| Period ending | 2025-12-31 | 2025-01-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $447.5M | $391.2M | |||
| Accounts receivable, net of allowance for credit losses of $1,468 and $1,504, respectively | $20.0M | $27.0M | |||
| Inventory | $9.6M | $10.7M | |||
| Prepaid expenses and other current assets | $19.7M | $18.7M | |||
| Total current assets | $496.7M | $447.6M | |||
| Property and equipment, net | $1.3B | $673.6M | |||
| Operating lease right of use assets, net | $66.7M | $31.8M | |||
| Prepaid network costs | $198.4M | $312.3M | |||
| Derivative asset | $114.5M | $108.8M | |||
| Intangible and other assets, net of accumulated amortization of $12,511 and $7,625, respectively | $144.5M | $136.1M | |||
| Total assets | $2.3B | $1.7B | |||
| Current portion of long-term debt | $31.8M | $34.6M | |||
| Accounts payable and accrued expenses | $56.0M | $29.7M | |||
| Accrued network construction costs | $55.2M | $15.6M | |||
| Payables to affiliates | $391.0K | $394.0K | |||
| Deferred revenue, net | $62.0M | $61.2M | |||
| Total current liabilities | $205.5M | $141.5M | |||
| Long-term debt | $452.0M | $476.8M | |||
| Operating lease liabilities | $54.5M | $26.3M | |||
| Deferred revenue, net | $806.9M | $288.2M | |||
| Other non-current liabilities | $451.6M | $418.6M | |||
| Total non-current liabilities | $1.8B | $1.2B | |||
| Total liabilities | $2.0B | $1.4B | |||
| Additional paid-in capital (1) | $2.5B | $2.5B | |||
| Accumulated other comprehensive income | $3.3M | $13.5M | |||
| Retained deficit | -$2.1B | -$2.1B | |||
| Total stockholders equity | $355.7M | $358.9M | $379.0M | $314.8M | |
| Total liabilities and stockholders equity | $2.3B | $1.7B | |||
| Accounts receivable, allowance | $1.5M | $1.5M | |||
| Intangible and other assets, accumulated amortization | $12.5M | $7.6M | |||
| Common stock, shares authorized (in shares) | 2.1B shares | ||||
| Common stock, shares outstanding (in shares) | 1.9B shares | ||||
| Reverse stock split | 1 pure |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$8.7M | -$63.2M | -$24.7M |
| Depreciation, amortization and accretion | $87.4M | $89.0M | $88.2M |
| Stock-based compensation expense | $23.4M | $35.5M | $22.5M |
| Reduction in the value and disposal of long-lived assets and inventory | $7.2M | $883.0K | $363.0K |
| Noncash interest and accretion expense | $49.9M | $6.5M | $14.7M |
| Noncash portion of loss on extinguishment of debt | $0 | $14.0M | $10.2M |
| Loss on equity issuance | $0 | $0 | $5.0M |
| Noncash expenses associated with SSA, net of amortization | $4.1M | $7.7M | $3.1M |
| Unrealized foreign currency (gain) loss | -$15.8M | $16.7M | -$5.0M |
| Other, net | -$17.3M | -$657.0K | -$4.0M |
| Accounts receivable | $7.5M | $26.7M | $12.7M |
| Inventory | $1.5M | $2.8M | -$4.2M |
| Prepaid expenses and other current assets | -$1.5M | -$856.0K | -$3.2M |
| Other assets | -$1.1M | $294.0K | $610.0K |
| Accounts payable and accrued expenses | $1.1M | -$1.4M | -$3.4M |
| Payables to affiliates | -$3.0K | -$65.0K | $133.0K |
| Other non-current liabilities | $2.4M | $3.6M | -$53.0K |
| Deferred revenue | $481.5M | $301.8M | -$38.6M |
| Net cash provided by operating activities | $621.6M | $439.2M | $74.3M |
| Payments for network upgrades to support the Phase 1 and Phase 2 Service Period | -$97.1M | -$105.3M | -$158.8M |
| Payments for network upgrades to support the Extended MSS Network | -$442.3M | -$131.7M | $0 |
| Payments of capitalized interest | $0 | -$10.0M | -$8.8M |
| Payments for network upgrades to support product development | -$5.5M | -$6.8M | -$6.9M |
| Purchase of intangible assets | -$5.5M | -$6.8M | -$1.1M |
| Net cash used in investing activities | -$550.4M | -$260.6M | -$175.6M |
| Proceeds from 2023 Funding Agreement | $27.1M | $37.7M | $117.3M |
| Principal payments of 2021 Funding Agreement | -$34.6M | -$34.6M | -$12.5M |
| Dividends paid on Series A Preferred Stock | -$10.6M | -$10.6M | -$11.9M |
| Proceeds from issuance of Customer Class B units | $0 | $176.2M | $0 |
| Proceeds from issuance of 2024 Debt Repayment | $0 | $221.6M | $0 |
| Principal and make-whole payment of 2023 13% Notes | $0 | -$234.9M | $0 |
| Proceeds from 2023 13% Notes | $0 | $0 | $190.0M |
| Payments for debt and equity issuance costs | $0 | $0 | -$8.6M |
| Proceeds from issuance of common stock and exercise of options | $1.9M | $1.8M | -$181.0K |
| Net cash (used in) provided by financing activities | -$16.2M | $157.2M | $125.8M |
| Effect of exchange rate changes on cash and cash equivalents | $1.2M | -$1.4M | $140.0K |
| Net increase in cash and cash equivalents | $56.3M | $334.4M | $24.7M |
| Interest | $0 | $15.7M | $13.5M |
| Increase in capitalized accrued interest including in accrued expenses and deferred revenue | $34.0M | $8.1M | $5.6M |
| Network construction assets included in accrued expenses | $55.2M | $15.6M | $58.2M |
| Construction in progress assets acquired through XCOM SSA | $1.8M | $6.1M | $2.8M |
| Extended MSS Network assets acquired through Globalstar SPE | $0 | $223.8M | $0 |
| Re-characterization of 2021 Funding Agreement to debt due to 2023 amendment | $0 | $0 | $88.0M |
| Fair value of the warrant issued to Thermo for the guarantee associated with the 2023 Funding Agreement | $0 | $0 | $5.0M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Globalstar, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
2010201520202025
- Chief executive officerPaul E. Jacobs Aug 31, 2023 to now14
- Chief executive officerDavid B. Kagan Sep 6, 2018 to Aug 31, 202315
- Chief executive officerPeter J. Dalton Aug 13, 2009 to Sep 24, 200916
- Chief executive officerJames Monroe Iii. Nov 1, 2006 to Dec 9, 201917
- ChairJames Monroe Iii. Jan 28, 2010 to Apr 18, 201118
- PresidentDavid B. Kagan Jan 25, 2016 to Mar 1, 201819
- PresidentAnthony J. Navarra Aug 15, 2011 to May 20, 201420
- Chief financial officerRebecca Clary Aug 29, 2014 to now21
- Chief financial officerDirk J. Wild Apr 12, 2011 to Apr 12, 201122
- Chief financial officerFuad Ahmad Nov 1, 2006 to Mar 23, 201023
- Chief operating officerDavid B. Kagan Jan 25, 2016 to Mar 1, 201819
- Chief operating officerThomas M. Colby May 29, 2008 to Aug 13, 200824
Board members and other officers (22)
- Chief Accounting OfficerRebecca Clary Mar 8, 2013 to May 20, 201425
- Pres. Global Sales & Mkting.Frank John Bell Ii. Oct 11, 2012 to Oct 11, 201226
- VP & Chief Accounting OfficerStuart Mar Mar 18, 2010 to May 20, 201027
- SVP of FinanceDirk J. Wild Jul 22, 2010 to Jul 22, 201028
- VP & Chief Accounting OfficerJoseph F. Barnett Nov 12, 2010 to Nov 12, 201029
- VP - New Business VenturesMartin E. Neilsen Mar 20, 2008 to Dec 23, 200930
- Pres., Global OperationsAnthony J. Navarra Nov 1, 2006 to Dec 16, 201031
- SVP, Sales & MarketingDennis C. Allen Nov 1, 2006 to May 19, 200832
- SVP-Strat. Init & Space OpMegan L. Fitzgerald Nov 1, 2006 to Nov 1, 200633
- VP-Eng. & Prod. Develop.Paul A. Monte Nov 1, 2006 to Nov 12, 200934
- VP - Legal & Reg. AffairsWilliam F. Adler Nov 1, 2006 to Dec 23, 200935
- Board memberPaul E. Jacobs Aug 31, 2023 to now14
- Board memberBenjamin G. Wolff Jan 17, 2019 to now36
- Board memberKeith O. Cowan Jan 17, 2019 to now37
- Board memberMichael J. Lovett Jan 17, 2019 to Jan 4, 202438
- Board memberKenneth M. Young Nov 12, 2015 to May 10, 201839
- Board memberJohn Kneuer Feb 7, 2011 to May 10, 201840
- Board memberJ. Patrick McIntyre Jr. Jun 18, 2007 to Sep 25, 201841
- Board memberJames F. Lynch Nov 1, 2006 to now42
- Board memberJames Monroe Iii. Nov 1, 2006 to now17
- Board memberPeter J. Dalton Nov 1, 2006 to Sep 24, 200943
- General counselL. Barbee Ponder Iv. Jul 22, 2010 to now44
Timeline
Filings
407 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 48 major events, 226 insider forms, 4 large holders, 108 other. The latest 20:
- Sep 22, 20264 EDGAR
- Sep 21, 2026144 EDGAR
- Sep 21, 20264 EDGAR
- Sep 21, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 27, 2026144 EDGAR
- Aug 26, 2026144 EDGAR
- Aug 26, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 21, 2026144 EDGAR
- Aug 18, 2026DEFM14C EDGAR
- Aug 17, 20264 EDGAR
- Aug 14, 2026144 EDGAR
- Aug 13, 2026144 EDGAR
- Aug 13, 20264 EDGAR
- Aug 12, 2026144 EDGAR
- Aug 12, 20264 EDGAR
- Aug 11, 20264 EDGAR
- Aug 11, 2026144 EDGAR
- Aug 10, 20264 EDGAR
The 407 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last three years, summarized. The full record is on SEC EDGAR.
Insider trades and holders
Large holders
Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 4 such filings since October 2021:
- Apr 15, 2026SCHEDULE 13D/A
- Sep 12, 2022SC 13D/A
- Sep 7, 2022SC 13D/A
- Feb 14, 2022SC 13G/A
From Forms 4 and Schedules 13D and 13G filed with the SEC.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| BlackRock, Inc. | 3,235,377 | $263.0M | 0.0% | −767,621 |
| Vanguard Capital Management LLC | 2,317,631 | $188.4M | 0.0% | +43,400 |
| Vanguard Portfolio Management LLC | 2,192,445 | $178.2M | 0.0% | −216,639 |
| Norges Bank | 2,084,853 | $169.5M | 0.0% | New |
| Van Eck Associates Corp | 1,427,218 | $116.0M | 0.1% | +452,931 |
| Pentwater Capital Management LP | 1,355,000 | $110.1M | 0.9% | New |
| State Street Corp | 1,288,488 | $104.7M | 0.0% | −249,733 |
| Geode Capital Management, LLC | 1,206,463 | $98.1M | 0.0% | −245,950 |
| Beck Mack & Oliver LLC | 1,104,340 | $89.8M | 1.8% | −12,779 |
| Millennium Management LLC | 1,030,034 | $83.7M | 0.1% | +1,025,963 |
| Arrowstreet Capital, Limited Partnership | 991,118 | $80.6M | 0.0% | +905,612 |
| LMR Partners LLP | 849,611 | $69.1M | 0.6% | New |
| Citadel Advisors LLC | 542,467 | $44.1M | 0.0% | New |
| Ashford Capital Management Inc | 509,700 | $41.4M | 4.4% | −397,831 |
| Alpine Associates Management Inc. | 467,647 | $38.0M | 2.4% | New |
| Citigroup Inc | 447,463 | $36.4M | 0.0% | +440,725 |
| Fmr LLC | 418,658 | $34.0M | 0.0% | −490,355 |
| Susquehanna International Group, Llp | 413,418 | $33.6M | 0.0% | −95,248 |
| American Century Companies Inc | 394,851 | $32.1M | 0.0% | −1,114,471 |
| Qube Research & Technologies Ltd | 377,911 | $30.7M | 0.0% | +330,438 |
| Slotnik Capital, LLC | 350,000 | $28.5M | 7.9% | New |
| Vanguard Fiduciary Trust Co | 332,214 | $27.0M | 0.0% | −19,468 |
| Charles Schwab Investment Management Inc | 325,564 | $26.5M | 0.0% | −91,663 |
| Softbank Group Corp. | 321,003 | $26.1M | 0.1% | No change |
| Ameriprise Financial Inc | 304,428 | $24.7M | 0.0% | +4,751 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 18SEC EDGARJames Monroe Iii., Chair
- 19SEC EDGARDavid B. Kagan, President
- 20SEC EDGARAnthony J. Navarra, President
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- 22
- 23SEC EDGARFuad Ahmad, Chief financial officer
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- 28SEC EDGARDirk J. Wild, SVP of Finance
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- 36SEC EDGARBenjamin G. Wolff, Board member
- 37SEC EDGARKeith O. Cowan, Board member
- 38SEC EDGARMichael J. Lovett, Board member
- 39SEC EDGARKenneth M. Young, Board member
- 40SEC EDGARJohn Kneuer, Board member
- 41
- 42SEC EDGARJames F. Lynch, Board member
- 43SEC EDGARPeter J. Dalton, Board member
- 44