Globalstar
GSAT · NasdaqCommunications Services, NEC · Fiscal year ends Dec 31
Globalstar reported revenue of $273M in the fiscal year ended Dec 2025, up 9.0% from the year before. Operating income was $7M, an operating margin of 2.7%, and net income was −$9M. Net debt was $36M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $124M | $149M | $224M | $250M | $273M |
| Research & development | $1M | $500,000 | $1M | $7M | $6M |
| Selling, general & admin | $35M | $33M | $43M | $43M | $51M |
| Operating income | −$66M | −$221M | −$165,000 | −$949,000 | $7M |
| Pre-tax income | −$113M | −$257M | −$24M | −$61M | −$3M |
| Income tax | −$299,000 | $73,000 | $1M | $2M | $6M |
| Net income | −$113M | −$257M | −$25M | −$63M | −$9M |
| Diluted EPS | −0.06 | −2.15 | −0.29 | −0.59 | −0.15 |
| Diluted shares | 1,765M | 120M | 122M | 126M | 127M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $14M | $32M | $57M | $391M | $447M |
| Receivables | $21M | $26M | $49M | $27M | $20M |
| Inventory | $14M | $9M | $15M | $11M | $10M |
| Current assets | $69M | $81M | $143M | $448M | $497M |
| Net PP&E | $672M | $560M | $624M | $674M | $1.3B |
| Goodwill | – | – | $31M | $31M | $31M |
| Total assets | $814M | $738M | $924M | $1.7B | $2.3B |
| Payables | $6M | $4M | $2M | – | – |
| Deferred revenue | $26M | $75M | $54M | $61M | $62M |
| Current liabilities | $62M | $197M | $176M | $141M | $205M |
| Short-term debt | $0 | $0 | $35M | $35M | $32M |
| Long-term debt | $238M | $132M | $326M | $477M | $452M |
| Total liabilities | – | – | $545M | $1.4B | $2B |
| Shareholders' equity | $365M | $315M | $379M | $359M | $356M |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $132M | $64M | $74M | $439M | $622M |
| Depreciation & amortisation | $96M | $94M | $88M | $89M | $87M |
| Stock-based compensation | $7M | $11M | $22M | $36M | $23M |
| Dividends paid | $0 | $0 | $12M | $11M | $11M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 19.5% | 50.7% | 11.9% | 9.0% |
| Operating margin | −52.7% | −148.8% | −0.1% | −0.4% | 2.7% |
| Net margin | −90.6% | −173.0% | −11.0% | −25.2% | −3.2% |
| Return on equityBlank when equity is negative | −30.8% | −81.6% | −6.5% | −17.6% | −2.4% |
| ROCEEBIT ÷ (assets − current liabilities) | −8.7% | −40.8% | −0.0% | −0.1% | 0.4% |
| Cash conversion (CFO ÷ net income) | −1.17x | −0.25x | −3.01x | −6.95x | −71.9x |
| Receivable days | 62 | 65 | 79 | 39 | 27 |
| Debt ÷ equity | 0.65x | 0.42x | 0.95x | 1.43x | 1.36x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $224M | $100M | $304M | $120M | $36M |
| Current ratio | 1.12x | 0.41x | 0.81x | 3.16x | 2.42x |
Recent filings
More in Communications Services, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.