Globalstar(NASDAQ) GSAT

Globalstar, Inc. helps people communicate where cell phones fail. Its satellites send messages for hikers, travelers, and remote businesses. These tools keep people safe in isolated places.

Connecting the Unreachable

• Wholesale Capacity: Satellite network access provided to large corporate partners; accounts for 64% of total revenue for the six months ended June 30, 2026.
• Commercial IoT: Data services for the Internet of Things, which connects industrial machines to the internet; represented 11% of total revenue for the first half of 2026.
• SPOT Products: Handheld messaging and tracking devices used for emergency location and personal safety; contributed 13% of total revenue for the six months ended June 30, 2026.
• Duplex Services: Two-way voice and data communication for remote work and recreation; made up 4% of total revenue for the six-month period ended June 30, 2026.
• Government Services: Custom engineering and secure connectivity solutions for public safety and disaster relief agencies.

The Path to Amazon

• Agreed to a merger with Amazon.com, Inc. on April 13, 2026, to be completed in 2027.
• Signed updated agreements with Apple Inc. in October 2024 to build a new network of satellites and ground stations.
• Acquired wireless technology assets from XCOM Labs in January 2026 to help build private data networks for businesses.
• Partnered with Parsons Corporation to provide secure communication services for government and national security agencies.
• Secured a 15-year license renewal from the Federal Communications Commission in August 2024 to operate a replacement satellite system.

How the Network Functions

Globalstar manages a network of low-Earth-orbit satellites that provide communication services in areas where standard cell phone towers do not work. The company also holds rights to specific radio frequencies used for 5G wireless broadband in the United States and 11 other countries.

Financial Milestones

• Total revenue reached $134.8 million for the six months ended June 30, 2026, up 6% year over year.
• Wholesale capacity services revenue was $86.4 million for the six-month period ended June 30, 2026, up 9% year over year.
• Total Mobile Satellite Services subscribers were approximately 811,000 as of June 30, 2026.
• Cash and cash equivalents totaled $409.8 million as of June 30, 2026.
• The principal amount of debt outstanding was $423.7 million at the end of the second quarter of 2026.

The Bottom Line

Globalstar has evolved from a traditional satellite communications provider into a specialized infrastructure partner for major technology companies. Its integration with consumer devices and its pending merger with Amazon highlight its transition toward large-scale wholesale and terrestrial services.