Overview
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- TickerGSAT on Nasdaq1
- IndustryCommunications Services, NEC1
- HeadquartersCovington, Louisiana1
- Incorporated inDE3
- Business address1351 Holiday Square Blvd.,, Covington,, La 704333
- Filer categoryLarge accelerated filer3
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Through its global satellite network, Globalstar, Inc. (“we,” “us” or the “Company”) provides Mobile Satellite Services (“MSS”), including voice and data communications services to retail, business and governmental customers as well as wholesale satellite capacity services. We offer these services over our network of in-orbit satellites and ground stations (“gateways”) pursuant to our spectrum licenses, which we refer to collectively as the Globalstar System. In addition to supporting Internet of Things ("IoT") data transmissions in a variety of applications, we provide reliable connectivity in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters. By providing global mobile satellite communications services, we aim to meet our customers' increasing desire for …5 From its latest annual report
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.
Corporate structure
Globalstar, Inc. sits at the top of its group. 84 entities, 47 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Globalstar, Inc.
- FL INVESTMENT HOLDINGS LLC Filed SCHEDULE 13D/A on Globalstar, Inc., latest Apr 15, 2026
- Mudrick Capital Management, L.P. Filed SC 13G/A on Globalstar, Inc., latest Feb 14, 2022
- Globalstar, Inc. Covington, Louisiana
- Astral Technologies Investment Ltd. Subsidiary · British Virgin Islands
- Astral Technologies Nicaragua S.A. Subsidiary · Nicaragua
- ATSS Canada, Inc. Subsidiary · Delaware, United States
- GCL Licensee LLC Subsidiary · Delaware, United States
- Globalstar (Thailand) Ltd. Subsidiary · Thailand
- Globalstar Albania sh.p.k. Subsidiary · Albania
- Globalstar Americas Acquisitions, Ltd. Subsidiary · British Virgin Islands
- Globalstar Americas Holding Ltd. Subsidiary · British Virgin Islands
- Globalstar Americas Telecommunications Ltd. Subsidiary · British Virgin Islands
- Globalstar Argentina S.R.L. Subsidiary · Argentina
- Globalstar Asia Pacific Subsidiary · South Korea
- Globalstar Belize Ltd. Subsidiary · Belize
- Globalstar Bihoro LLC Subsidiary · Japan
- Globalstar Brazil Holdings, L.P. Subsidiary · Delaware, United States
- Globalstar Broadband Services, Inc. Subsidiary · Delaware, United States
- Globalstar C, LLC Subsidiary · Delaware, United States
- Globalstar Canada Satellite Co. Subsidiary · Canada
- Globalstar Caribbean Ltd. Subsidiary · Cayman Islands
- Globalstar Chile SpA Subsidiary · Chile
- Globalstar Colombia, Ltda. Subsidiary · Colombia
- Globalstar Communications Mongolia LLC Subsidiary · Mongolia
- Globalstar Communications Spain, S.L. Subsidiary · Spain
- Globalstar de El Salvador, SA de CV Subsidiary · El Salvador
- Globalstar de Venezuela, C.A. Subsidiary · Venezuela
- Globalstar do Brasil Holdings Ltda. Subsidiary · Brazil
- and 58 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Globalstar, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $2.3B2 Dec 31, 2025 | $1.7B2 Dec 31, 2024 | +37.3% |
| Property and equipment, net | $1.3B2 Dec 31, 2025 | $673.6M2 Dec 31, 2024 | +93.8% |
| Operating-lease assets (leased space) | $66.7M2 Dec 31, 2025 | $31.8M2 Dec 31, 2024 | +109.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $447.5M2 Dec 31, 2025 | $391.2M2 Dec 31, 2024 | +14.4% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $30.6M2 Dec 31, 2025 | $30.6M10 Dec 31, 2024 | 0% |
| Intangible assets, net (excluding goodwill) | $92.3M2 Dec 31, 2025 | $85.2M2 Dec 31, 2024 | +8.3% |
| Indefinite-lived intangibles (excluding goodwill) | $17.5M2 Dec 31, 2025 | $17.1M2 Dec 31, 2024 | +2.8% |
| Finite-lived intangibles, gross | $87.3M2 Dec 31, 2025 | $75.8M2 Dec 31, 2024 | +15.2% |
| Accumulated amortization | $12.5M2 Dec 31, 2025 | $7.6M2 Dec 31, 2024 | +64.1% |
| Finite-lived intangibles, net | $74.7M2 Dec 31, 2025 | $68.1M2 Dec 31, 2024 | +9.7% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $9.6M2 Dec 31, 2025 | $10.7M2 Dec 31, 2024 | −10.5% |
| Raw materials | $3.7M2 Dec 31, 2025 | $3.8M2 Dec 31, 2024 | −3.1% |
| Finished goods | $6.0M2 Dec 31, 2025 | $7.3M2 Dec 31, 2024 | −17.6% |
Properties, in its own words
As of December 31, 2025, our principal headquarters were located in Covington, Louisiana. We own or lease the facilities described in the following table (excludes land owned not currently used in operations):
Facility Use · Location
The rest of Item 2
Offices · Africa (Botswana)
Brazil (Rio de Janeiro)
Europe (Ireland)
India (Bangalore)
United States of America (California and Louisiana(1))
Gateways · Africa (Botswana and Rwanda)
Argentina (Bosque Alegre)
Asia (Japan, Singapore, South Korea and Thailand)
Australia (Dubbo, Meekatharra and Mount Isa)
Brazil (Manaus, Petrolina, Presidente Prudente and Sao Paulo)
Canada (Alberta and Ontario)
Europe (Estonia, France(1), Greece and Spain)
Mexico (Jocotitlan)
Oceania (New Zealand)
United States of America (Alaska, Florida, Hawaii, Nevada, Puerto Rico and Texas(1))
(1) Location includes a Network Operations Control Center to monitor both satellite and ground network operations
Item 2 of the 10-K filed Feb 27, 2026.5
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 now16
- Chief executive officerDavid B. Kagan Sep 6, 2018 to Aug 31, 202317
- Chief executive officerPeter J. Dalton Aug 13, 2009 to Sep 24, 200918
- Chief executive officerJames Monroe Iii. Nov 1, 2006 to Dec 9, 201919
- ChairJames Monroe Iii. Jan 28, 2010 to Apr 18, 201120
- PresidentDavid B. Kagan Jan 25, 2016 to Mar 1, 201821
- PresidentAnthony J. Navarra Aug 15, 2011 to May 20, 201422
- Chief financial officerRebecca Clary Aug 29, 2014 to now23
- Chief financial officerDirk J. Wild Apr 12, 2011 to Apr 12, 201124
- Chief financial officerFuad Ahmad Nov 1, 2006 to Mar 23, 201025
- Chief operating officerDavid B. Kagan Jan 25, 2016 to Mar 1, 201821
- Chief operating officerThomas M. Colby May 29, 2008 to Aug 13, 200826
Board members and other officers (22)
- Chief Accounting OfficerRebecca Clary Mar 8, 2013 to May 20, 201427
- Pres. Global Sales & Mkting.Frank John Bell Ii. Oct 11, 2012 to Oct 11, 201228
- VP & Chief Accounting OfficerStuart Mar Mar 18, 2010 to May 20, 201029
- SVP of FinanceDirk J. Wild Jul 22, 2010 to Jul 22, 201030
- VP & Chief Accounting OfficerJoseph F. Barnett Nov 12, 2010 to Nov 12, 201031
- VP - New Business VenturesMartin E. Neilsen Mar 20, 2008 to Dec 23, 200932
- Pres., Global OperationsAnthony J. Navarra Nov 1, 2006 to Dec 16, 201033
- SVP, Sales & MarketingDennis C. Allen Nov 1, 2006 to May 19, 200834
- SVP-Strat. Init & Space OpMegan L. Fitzgerald Nov 1, 2006 to Nov 1, 200635
- VP-Eng. & Prod. Develop.Paul A. Monte Nov 1, 2006 to Nov 12, 200936
- VP - Legal & Reg. AffairsWilliam F. Adler Nov 1, 2006 to Dec 23, 200937
- Board memberPaul E. Jacobs Aug 31, 2023 to now16
- Board memberBenjamin G. Wolff Jan 17, 2019 to now38
- Board memberKeith O. Cowan Jan 17, 2019 to now39
- Board memberMichael J. Lovett Jan 17, 2019 to Jan 4, 202440
- Board memberKenneth M. Young Nov 12, 2015 to May 10, 201841
- Board memberJohn Kneuer Feb 7, 2011 to May 10, 201842
- Board memberJ. Patrick McIntyre Jr. Jun 18, 2007 to Sep 25, 201843
- Board memberJames F. Lynch Nov 1, 2006 to now44
- Board memberJames Monroe Iii. Nov 1, 2006 to now19
- Board memberPeter J. Dalton Nov 1, 2006 to Sep 24, 200945
- General counselL. Barbee Ponder Iv. Jul 22, 2010 to now46
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- ATSS Canada, Inc. Delaware4
- Astral Technologies Investment Ltd. British Virgin Islands4
- Astral Technologies Nicaragua S.A. Nicaragua4
- GCL Licensee LLC Delaware4
- GSAT Bucharest S.R.L. Romania4
- GSAT NZ Limited New Zealand4
- GSSI, LLC Delaware4
- GUSA Licensee LLC Delaware4
- Globalstar (Thailand) Ltd. Thailand4
- Globalstar Albania sh.p.k. Albania4
- Globalstar Americas Acquisitions, Ltd. British Virgin Islands4
- Globalstar Americas Holding Ltd. British Virgin Islands4
- Globalstar Americas Telecommunications Ltd. British Virgin Islands4
- Globalstar Argentina S.R.L. Argentina4
- Globalstar Asia Pacific South Korea4
- Globalstar Belize Ltd. Belize4
- Globalstar Bihoro LLC Japan4
- Globalstar Brazil Holdings, L.P. Delaware4
- Globalstar Broadband Services, Inc. Delaware4
- Globalstar C, LLC Delaware4
- Globalstar Canada Satellite Co. Canada4
- Globalstar Caribbean Ltd. Cayman Islands4
- Globalstar Chile SpA Chile4
- Globalstar Colombia, Ltda. Colombia4
All 84 listed subsidiaries
- Globalstar Communications Mongolia LLC Mongolia4
- Globalstar Communications Spain, S.L. Spain4
- Globalstar Europe Satellite Services, Ltd. Ireland4
- Globalstar Europe, S.A.S. France4
- Globalstar France SAS France4
- Globalstar GE, SL Equatorial Guinea4
- Globalstar Gabon S.A. Gabon4
- Globalstar Gateway Company S.A. Nicaragua4
- Globalstar Germany GmbH Germany4
- Globalstar Guatemala S.A. Guatemala4
- Globalstar Holding US, LLC Delaware4
- Globalstar Honduras S.A. Honduras4
- Globalstar International, LLC Delaware4
- Globalstar Japan K.K. Japan4
- Globalstar Japan, Inc. Japan4
- Globalstar Leasing LLC Delaware4
- Globalstar Licensee LLC Delaware4
- Globalstar London Limited United Kingdom4
- Globalstar Majan LLC Oman4
- Globalstar Media, LLC Louisiana4
- Globalstar Mobile Satellite Services Argentina SRL Argentina4
- Globalstar Mobile Satellite Services Australia Pty Ltd Australia4
- Globalstar Mobile Satellite Services Brazil Ltda Brazil4
- Globalstar Mobile Satellite Services Canada Inc. Canada4
- Globalstar Mobile Satellite Services Chile SpA Chile4
- Globalstar Mobile Satellite Services India Private Limited India4
- Globalstar Mobile Satellite Services International, LLC Delaware4
- Globalstar Mobile Satellite Services Mexico Mexico4
- Globalstar Mobile Satellite Services Singapore Pte. Ltd. Singapore4
- Globalstar Montenegro Montenegro4
- Globalstar Moçamibque LDA Mozambique4
- Globalstar Netherlands B.V. Netherlands4
- Globalstar Nicaragua S.A. Nicaragua4
- Globalstar Panama Corp. Panama4
- Globalstar Republica Dominicana, S.A. Dominican Republic4
- Globalstar Satellite Namibia (PTY) LTD Namibia4
- Globalstar Satellite Services Pte., Ltd Singapore4
- Globalstar Satellite Services Pty., Ltd South Africa4
- Globalstar Security Services, LLC Delaware4
- Globalstar Seoul Co., Ltd South Korea4
- Globalstar Slovakia, S.R.O. Slovakia4
- Globalstar Telecomunicaciones Perú S.A.C. Peru4
- Globalstar USA, LLC Delaware4
- Globalstar Ukraine Limited Liability Company Ukraine4
- Globalstar de El Salvador, SA de CV El Salvador4
- Globalstar de Venezuela, C.A. Venezuela4
- Globalstar do Brasil Holdings Ltda. Brazil4
- Globalstar do Brasil Ltda. Brazil4
- HIBLEO Nigeria Limited Nigeria4
- Leosat Kenya Limited Kenya4
- Leosat Portugal, Unipessoal, LDA Portugal4
- Longhorns Holding Corporation Delaware4
- Longhorns Labs India Private Limited India4
- M87, Inc. Delaware4
- Mobile Satellite Services Australia Pty. Ltd. Australia4
- Mobile Satellite Services B.V. Netherlands4
- Mobile Satellite Services Mexico S. de R.L. de C.V. Mexico4
- Mobile Satellite Services Rwanda Ltd Rwanda4
- SPOT LLC Colorado4
- The World’s End (Pty) Ltd. Botswana4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 6, 20268-K Results of operations47
- May 15, 20268-K Shareholder vote48
- May 7, 20268-K Results of operations49
- Apr 14, 20268-K Entered a material agreement; New debt or obligation; Regulation FD disclosure50
- Feb 27, 20268-K Results of operations51
- Nov 6, 20258-K Results of operations52
- Aug 7, 20258-K Results of operations53
- May 21, 20258-K Bylaws or fiscal year changed; Shareholder vote54
- May 8, 20258-K Results of operations55
- Feb 27, 20258-K Results of operations56
- Feb 7, 20258-K Change to shareholders' rights; Bylaws or fiscal year changed; Other events57
- Jan 21, 20258-K Listing notice or transfer; Other events58
- Aug 31, 2023New chief executive Paul E. Jacobs becomes CEO16
- Sep 6, 2018New chief executive David B. Kagan becomes CEO17
- Aug 13, 2009New chief executive Peter J. Dalton becomes CEO18
- Nov 1, 2006New chief executive James Monroe Iii. becomes CEO19
Calendar
Coming up
- Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.01) a share, on Nov 6, 2025.59
When it reported results
- Aug 6, 2026Reported quarterly or annual results47
- May 7, 2026Reported quarterly or annual results49
- Feb 27, 2026Reported quarterly or annual results51
- Nov 6, 2025Reported quarterly or annual results52
- Aug 7, 2025Reported quarterly or annual results53
- May 8, 2025Reported quarterly or annual results55
- Feb 27, 2025Reported quarterly or annual results56
- Nov 7, 2024Reported quarterly or annual results60
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
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 five years, summarized. The full record is on SEC EDGAR.
Insider trades
135 open-market trades by officers, directors and large owners since October 2021: 52 buys and 83 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 21, 2026 | Ponder L Barbee IVGeneral Counsel | Sale | 1,692 | $82.96 | $140.4K | Form 4 |
| Sep 18, 2026 | Lynch James FDirector | Sale | 361,600 | $82.52 | $29.8M | Form 4 |
| Sep 18, 2026 | Monroe James IIIDirector | Buy | 361,600 | $82.52 | $29.8M | Form 4 |
| Aug 27, 2026 | Wolff Benjamin GDirector | Sale | 19,998 | $81.98 | $1.6M | Form 4 |
| Aug 26, 2026 | Lynch James FDirector | Sale | 110,000 | $81.78 | $9.0M | Form 4 |
| Aug 21, 2026 | Wolff Benjamin GDirector | Sale | 19,998 | $82.21 | $1.6M | Form 4 |
| Aug 14, 2026 | Clary RebeccaVP & Chief Financial Officer | Sale | 24,100 | $82.17 | $2.0M | Form 4 |
| Aug 13, 2026 | Taylor Timothy EvanVP, Finance & Operations | Sale | 75,000 | $82.82 | $6.2M | Form 4 |
| Aug 12, 2026 | Taylor Timothy EvanVP, Finance & Operations | Sale | 75,000 | $83.15 | $6.2M | Form 4 |
| Aug 12, 2026 | Wolff Benjamin GDirector | Sale | 32,711 | $83.19 | $2.7M | Form 4 |
| Aug 11, 2026 | Ponder L Barbee IVGeneral Counsel | Sale | 4,720 | $83.52 | $394.2K | Form 4 |
| Aug 11, 2026 | Wolff Benjamin GDirector | Sale | 24,000 | $83.54 | $2.0M | Form 4 |
| Aug 7, 2026 | Ponder L Barbee IVGeneral Counsel | Sale | 12,045 | $83.21 | $1.0M | Form 4 |
| Jun 4, 2026 | Clary RebeccaVP & Chief Financial Officer | Sale | 920 | $81.75 | $75.2K | Form 4 |
| Apr 28, 2026 | Clary RebeccaVP & Chief Financial Officer | Sale | 4,066 | $81.24 | $330.3K | Form 4 |
| Apr 15, 2026 | Clary RebeccaVP & Chief Financial Officer | Sale | 4,037 | $79.85 | $322.4K | Form 4 |
| Mar 19, 2026 | JACOBS PAUL EChief Executive Officer | Sale | 714 | $59.56 | $42.5K | Form 4 |
| Mar 11, 2026 | Clary RebeccaVP & Chief Financial Officer | Sale | 762 | $57.31 | $43.7K | Form 4 |
| Mar 11, 2026 | Ponder L Barbee IVGeneral Counsel | Sale | 682 | $57.31 | $39.1K | Form 4 |
| Mar 11, 2026 | JACOBS PAUL EChief Executive Officer | Sale | 1,153 | $57.31 | $66.1K | Form 4 |
All 135 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- FL INVESTMENT HOLDINGS LLCSCHEDULE 13D/A, 1 filing Apr 15, 202661
- Mudrick Capital Management, L.P.SC 13G/A, 1 filing Feb 14, 202262
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Rebecca S. ClaryVice President and Chief Financial Officer | $420.0K | $2.0M63 | |
| 2025 | Dr. Paul E. JacobsChief Executive Officer | $500.0K | $1.0M63 | |
| 2025 | L. Barbee Ponder IVGeneral Counsel and Vice President of Regulatory Affairs | $340.3K | $780.7K63 | |
| 2024 | Dr. Paul E. JacobsChief Executive Officer | $500.0K | $1.0M63 | |
| 2024 | Rebecca S. ClaryVice President and Chief Financial Officer | $330.4K | $716.2K63 | |
| 2024 | L. Barbee Ponder IVGeneral Counsel and Vice President of Regulatory Affairs | $326.6K | $705.1K63 | |
| 2023 | Dr. Paul E. JacobsChief Executive Officer | $142.3K | $36.2M63 | |
| 2023 | L. Barbee Ponder IVGeneral Counsel and Vice President of Regulatory Affairs | $311.1K | $734.7K63 | |
| 2023 | Rebecca S. ClaryVice President and Chief Financial Officer | $314.2K | $692.5K63 |
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.
SEC filer profile
How Globalstar, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARGlobalstar, Inc.1
- CIK0001366868
- Employer ID (EIN)41-21165085
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inDelaware5
- Fiscal year endsDecember 311
- Industry code (SIC)4899 Communications Services, NEC1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address1351 Holiday Square Blvd.,, Covington,, LA 704331
- Phone408-933-40001
- Shares outstanding128,554,348 Common Stock shares; 149,425 Preferred Stock shares as of Feb 20, 20265
- Public float$1.1B as of Jun 30, 20255
- AuditorErnst & Young LLP, New Orleans, Louisiana PCAOB ID 42; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceJul 17, 20061
- Filings1,339 in all: 4 (538), 8-K (234), 144 (62), 10-Q (60), SC 13G/A (36), 3 (35), CT ORDER (29), 5 (23)1
All 64 form types
10-K (20), DEF 14A (19), 424B3 (18), EFFECT (18), S-8 (18), SC 13D/A (16), SC 13G (16), 424B5 (15), CORRESP (14), UPLOAD (14), SD (13), ARS (12), S-3 (10), 4/A (9), PRE 14A (8), 10-K/A (7), DEF 14C (7), PRE 14C (7), S-1/A (7), 10-Q/A (6), S-3/A (5), POS AM (4), S-1 (4), S-3ASR (4), S-8 POS (4), 3/A (3), 424B4 (3), 8-A12B (3), 8-K/A (3), FWP (3), 424B1 (2), DEFA14A (2), NT 10-K (2), PRER14C (2), SC 13D (2), SEC STAFF LETTER (2), 10-12G (1), 15-12G (1), 25 (1), 25-NSE (1), 425 (1), 8-A12G (1), CERT (1), CERTNAS (1), CERTNYS (1), D (1), DEFM14C (1), DEFR14A (1), NT 10-Q (1), POSASR (1), RW (1), S-1MEF (1), S-4 (1), S-4/A (1), SC TO-I (1), SCHEDULE 13D/A (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 2, 2026
Latest 8-K (8-K) Aug 6, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.0001 per share | GSAT | The Nasdaq Stock Market LLC |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks Globalstar, Inc. names in Item 1A of its 10-K filed Feb 27, 2026: 40 risks under these headings, as written.5
- Risks Related to Our Business
- Risks Related to Government Regulations
- Risks Related to Our Common Stock
- Revenue under the Updated Services Agreements constitutes a majority of our current revenue, and there is no assurance that we will receive the revenue expected under the Updated Services Agreements.
- If we experience disruptions with respect to our gateways or operations centers, we may not be able to provide service to our customers.
- The actual orbital lives of our satellites may be shorter than we anticipate, and we may be required to reduce available capacity on our satellite network.
- Our satellites are exposed to a wide and unique range of risks, including collisions with space debris and other LEO satellites, natural disasters and other extreme space weather events, all of which could adversely affect the performance of our constellation.
- The implementation of our business plan and our ability to generate income from operations assume we are able to maintain a satellite network capable of providing commercially acceptable levels of coverage and service quality, which are contingent on a number of factors, many of which are out of our control.
- We may not be able to successfully or timely launch satellites, including due to construction and delivery delays, to support the Phase 2 Service Period or Services provided over the Extended MSS Network under the Updated Services Agreements.
- The implementation of our business plan depends on increased demand for wireless communications services via satellite and terrestrial mobile broadband networks, both for existing and new services and products.
- Our business will be negatively impacted if we fail to adequately anticipate our satellite capacity needs or are unable to obtain satellite network capacity.
- Rapid and significant technological changes in the satellite communications industry and our ability to service, upgrade and replace our equipment when needed may impair our competitive position and require us to make significant capital expenditures.
The other 31 risks
- We face intense competition in all of our markets, which could result in a loss of customers, lower revenues and difficulty entering new markets.
- Satellite-based Competitors
- Terrestrial Competitors
- Terrestrial Broadband Network Competitors and Other Spectrum Owners
- Uncertain global macro-economic and political conditions could materially adversely affect our results of operations and financial condition.
- Lack of availability and increased costs of equipment, component parts, and other materials required to operate our business could delay or adversely impact our operations.
- We are materially reliant on a limited number of key suppliers.
- Our business is capital intensive. We may not be able to raise adequate capital on reasonable terms to finance our business strategies, or we may be able to do so only on terms that significantly restrict our ability to operate our business.
- If we do not develop, acquire, maintain and protect proprietary information and intellectual property rights, it could limit the growth of our business and reduce our market share.
- We face special risks by doing business in international markets and developing markets, including currency and expropriation risks, which could increase our costs or reduce our revenues in these areas.
- Our financing arrangements may adversely affect our cash flow and our ability to operate our business, including our ability to incur additional indebtedness.
- Restrictive covenants in our financing arrangements may limit our operating and financial flexibility and our inability to comply with these covenants could have significant implications.
- Our networks and those of our third-party service providers and customers may be vulnerable to cyber-attacks and other security breaches, which could have significant negative consequences.
- We may be unable to obtain and maintain our insurance coverages, and the insurance we obtain may not cover all risks for which we have exposure. As a result, we may incur material uninsured or under-insured losses.
- Product Liability Insurance and Product Replacement or Recall Costs
- General Liability Insurance In-Orbit Exposures
- Spectrum values historically have been volatile, and may again be volatile in the future, which could cause the value of our business to fluctuate.
- We operate in many tax jurisdictions, and changes in tax rates or adverse results of tax examinations could materially increase our costs.
- We are exposed to trade credit risk in the ordinary course of our business activities.
- We have been in the past from time to time, and may be in the future, subject to litigation and investigations that could have a substantial, adverse impact on our business.
- Wireless devices' radio frequency emissions are the subject of regulation and litigation concerning their environmental effects, which includes alleged health and safety risks. As a result, we may be subject to new regulations, demand for our services may decrease, and we could face liability based on alleged health risks.
- Our global operations expose us to trade and economic sanctions, other restrictions, liabilities and exposure to penalties imposed by the United States, the European Union and other governments and organizations.
- Our business plan to use our licensed MSS spectrum to provide terrestrial wireless services depends upon our ability to maintain and expand our terrestrial authority as well as certain actions by third parties, which we cannot control.
- Other future regulatory decisions could reduce our existing spectrum allocation or impose additional spectrum sharing agreements on us, which could adversely affect our services and operations.
- If the FCC, our French regulator, or any other regulator, revokes, modifies or fails to renew or amend our licenses, our ability to operate may be limited.
- Changes in international trade regulations and other risks associated with foreign trade could adversely affect our sourcing from foreign manufacturers.
- Emerging and unsettled data privacy laws expose us to substantial risks.
- Restrictive covenants in our financing arrangements restrict our ability to pay dividends on our common stock for the foreseeable future, which may affect the market for our shares.
- There is a limited market for our common stock and our stock price may be volatile or may be subject to short selling.
- The future issuance of additional shares of our common stock could cause dilution of ownership interests and adversely affect our stock price.
- We have issued and may issue shares of preferred stock or debt securities with greater rights than our common stock.
- We are controlled by Thermo, whose interests may conflict with yours.
- Provisions in our charter documents, financing arrangements, customer contracts and Delaware corporate law may discourage takeovers, which could affect the rights of holders of our common stock.
Legal proceedings
In management's opinion, there is no pending litigation, dispute or claim, which could be expected to have a material adverse effect on the Company's financial condition, results of operations or liquidity. See Note 10: Commitments and Contingencies to our Consolidated Financial Statements in Part II, Item 8 of this Report for additional information.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 20SEC EDGARJames Monroe Iii., Chair
- 21SEC EDGARDavid B. Kagan, President
- 22SEC EDGARAnthony J. Navarra, President
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- 25SEC EDGARFuad Ahmad, Chief financial officer
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- 30SEC EDGARDirk J. Wild, SVP of Finance
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- 38SEC EDGARBenjamin G. Wolff, Board member
- 39SEC EDGARKeith O. Cowan, Board member
- 40SEC EDGARMichael J. Lovett, Board member
- 41SEC EDGARKenneth M. Young, Board member
- 42SEC EDGARJohn Kneuer, Board member
- 43
- 44SEC EDGARJames F. Lynch, Board member
- 45SEC EDGARPeter J. Dalton, Board member
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- 47SEC EDGARResults of operations
- 48SEC EDGARShareholder vote
- 49SEC EDGARResults of operations
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- 51SEC EDGARResults of operations
- 52SEC EDGARResults of operations
- 53SEC EDGARResults of operations
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- 55SEC EDGARResults of operations
- 56SEC EDGARResults of operations
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- 59NasdaqNasdaq calendar
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