Company profile · free preview
GSAT
GSAT · Updated 11/10/2026
Revenue
$273.0M
Fiscal 2025
Net income
(8.7M)
Fiscal 2025
Free cash flow
—
Fiscal 2025
Net cash / (debt)
—
Fiscal 2025
Five-year financials
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | $273.0M | $250.3M | $223.8M | $148.5M | $124.3M |
| Net income | (8.7M) | (63.2M) | (24.7M) | (256.9M) | (112.6M) |
| Diluted EPS | — | — | — | — | — |
| Operating cash flow | $621.6M | $439.2M | $74.3M | $63.8M | $131.9M |
| Free cash flow | — | — | — | — | — |
| Cash | $447.5M | $391.2M | $56.7M | $32.1M | $14.3M |
| Total debt | — | — | — | — | — |
Where the cash went
Cumulative, fiscal 2021–2025, straight from the reported cash-flow statements.
Reinvested in capex
—
of operating cash flow
Returned to owners
—
of free cash flow (buybacks + dividends)
Diluted share count
—
change 2021–2025
| Operating cash flow | $1.3B |
| Capital expenditure | — |
| Free cash flow | — |
| Share buybacks | — |
| Dividends paid | — |
| Acquisitions (net) | — |
| Net debt issued / (repaid) | — |
| Stock-based compensation (non-cash) | — |
"—" means a year didn't report that line, so no total is shown rather than an estimate.
GSAT return on capital (fiscal 2025)
ROIC
—
Return on capital
—
Return on equity
-5.4%
Return on assets
-0.4%
Gross margin
64.8%
Operating margin
5.4%
Net debt / EBITDA
0.38x
GSAT insider buying and selling
Recent open-market trades reported on Form 4. Context only — not a reason to buy or sell.
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-09-21 | Ponder L Barbee IV | Sale | 1,692 | $82.96 |
| 2026-09-18 | Lynch James F | Sale | 361,600 | $82.52 |
| 2026-09-18 | Monroe James III | Purchase | 361,600 | $82.52 |
| 2026-08-27 | Wolff Benjamin G | Sale | 19,998 | $81.98 |
SEC filings
Analyst overview
Globalstar provides mobile satellite services, delivering two-way voice, Internet of Things (IoT) connectivity, and wholesale satellite capacity across a proprietary low-Earth-orbit constellation. The company generates revenue through subscription service contracts, specialized hardware sales, and long-term wholesale capacity agreements with major consumer technology partners. Its competitive moat relies heavily on its scarce, globally licensed mobile satellite service spectrum and direct device-to-satellite connectivity capabilities.
Financial performance from 2021 through 2025 highlights steady top-line growth alongside significantly improved operating cash flow. Revenue rose consistently from 124.3 million in 2021 to 273.0 million in 2025, while bottom-line results progressed from a steep loss of 256.9 million in 2022 to a narrowed net loss of 8.7 million in 2025. Over the same multi-year span, operating cash flow surged from 131.9 million to 621.6 million, enabling the cash position to expand from 14.3 million to 447.5 million by 2025.
The company's primary strengths include its unique satellite spectrum holdings, expanding operational cash flow generation, and high-profile enterprise agreements. Offsetting these advantages are key risks, notably high customer concentration and the sustained capital intensity required to construct, launch, and maintain space infrastructure. Looking ahead, investors should watch for an inflection into positive GAAP net income and progress on upcoming constellation upgrade milestones.
AI-generated from published financials and filings · 11/10/2026. Not investment advice.
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