Globalstar, Inc. reported fourth‑quarter 2025 revenue of $71.96 million, a 17.6% year‑over‑year increase that surpassed the consensus estimate of $71.8 million. Full‑year revenue rose to $273.0 million, up 9% from $250.3 million in 2024, reflecting continued demand for the company’s satellite‑based connectivity services.
The revenue growth was driven primarily by a 17% rise in wholesale capacity services, which now represent 63% of total revenue, and a 31% increase in subscriber‑equipment sales in the fourth quarter. Commercial IoT revenue for the year reached $6.9 million, with a 6% increase in subscribers, underscoring the expansion of the company’s data‑centric offerings.
Globalstar posted a net loss of $8.7 million for 2025, a significant improvement over the $63.2 million loss in 2024. The company’s earnings per share fell to –$0.11, missing the consensus estimate of $0.01 (or –$0.0005 in some estimates). The miss was largely attributable to higher operating expenses related to satellite and ground‑station development, which offset the revenue gains.
Adjusted EBITDA for the year was $32.37 million, giving a margin of 50%, in line with guidance. The margin was supported by disciplined cost management despite the capital‑intensive investments in the Extended MSS Network and XCOM RAN initiatives, which are expected to generate higher‑margin revenue as the network scales.
Management reaffirmed its 2026 guidance, projecting full‑year revenue between $280 million and $305 million and maintaining an adjusted EBITDA margin of approximately 50%. The guidance reflects confidence in continued demand for the company’s high‑margin infrastructure services and the expected acceleration of the commercial rollout of its two‑way IoT module and XCOM RAN platform.
CEO Dr. Paul E. Jacobs highlighted that 2025 was a transformational year, noting that the company advanced its strategy across infrastructure expansion, product innovation, and commercial adoption. CFO Rebecca Clary emphasized the company’s focus on scaling next‑generation infrastructure while managing the cost impact of ongoing investments.
Market reaction was tempered by the EPS miss, which outweighed the revenue beat. Investors focused on the negative earnings figure and the higher-than‑expected operating expenses, leading to a cautious response despite the company’s strong revenue growth and reaffirmed guidance.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.