Welcome to our dedicated page for Globalstar news (Ticker: GSAT), a resource for investors and traders seeking the latest updates and insights on Globalstar stock.
Globalstar, Inc. (GSAT) is a leading provider of mobile satellite voice and data services. The company offers these services to both commercial customers and recreational consumers in over 120 countries globally. Globalstar's product lineup includes mobile and fixed satellite telephones, simplex and duplex satellite data modems, and the SPOT family of mobile satellite consumer products, such as the SPOT Satellite GPS Messenger™. The company also offers flexible airtime service packages to meet diverse customer needs.
Globalstar's services are crucial for many land-based and maritime industries, enabling increased productivity in remote areas where cellular and landline services are unavailable. Key customer segments include the oil and gas industry, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity. Additionally, individual recreational consumers benefit from Globalstar's wide range of satellite communication products and services.
The company's satellite data solutions are ideal for various applications, including asset and personal tracking, data monitoring, and SCADA. Globalstar derives its revenue primarily from providing mobile satellite services, which are particularly useful in areas where terrestrial wireline and wireless communication networks are impaired or non-existent. The company offers both two-way voice and data transmission services, as well as one-way data transmission, using mobile or fixed devices.
Globalstar owns significant satellite assets and generates the majority of its revenue within the United States. The company is dedicated to enhancing its service offerings and expanding its market reach through strategic partnerships and continuous technological advancements.
Globalstar (NYSE: GSAT) held an investor day outlining its growth strategy and financial outlook. The company highlighted progress in three key areas: Terrestrial Wireless XCOM RAN, offering 5G solutions for industrial applications with deployment planned with a major retailer in 2025; Band n53 spectrum deployment across 12 countries covering nearly 1 billion POPs; and Mobile Satellite Services (MSS) with ~260,000 active subscribers generating $44M in 2023 revenue.
The company's Commercial IoT segment serves ~481,000 active devices, generating $23M in 2023 service revenue. Globalstar provided 2024 revenue guidance of $245-250M with 54% EBITDA margin, and 2025 guidance of $260-285M with ~50% EBITDA margin. Long-term revenue is expected to exceed $495M with EBITDA margins over 54%.
Globalstar (NYSE American: GSAT) has announced a collaboration with Hawk Networks to streamline access to its Band 53 spectrum. The partnership aims to simplify spectrum acquisition by bundling it with core network components and infrastructure, eliminating traditional procurement complexities.
Band 53 Spectrum is available across the United States and eleven other countries, suitable for fixed wireless broadband, autonomous vehicles, enterprise operations, and IoT systems. The collaboration integrates with Hawk's Althea Core, an LTE/5G stack, and the Althea platform for routing, billing, and network management.
The partnership offers operators a faster path to network deployment through a simplified application process available at hawknetworks.net.
Globalstar (NYSE: GSAT) has achieved its first 5G data call on band n53™ spectrum, reaching 100 Mbps download and 60 Mbps upload speeds. The test was conducted using XCOM RAN prototype radios and 5G modules, building upon their 4G testing announced in October at Mobile World Congress Las Vegas.
Band n53, a licensed mid-band spectrum operating at 2483.5-2495 MHz, offers interference-free capacity for small-cell deployment and private networks. The spectrum has gained approval in 12 nations and from the Third Generation Partnership Project (3GPP). This advancement enables mission-critical applications including robotics, autonomous forklifts, and augmented reality to operate seamlessly.
Parsons (NYSE: PSN) and Globalstar (NYSE American: GSAT) have formed an exclusive partnership to serve public, government, and defense sectors. The collaboration successfully demonstrated Parsons' software-defined satellite communications solution using Globalstar's Low Earth Orbit (LEO) satellite constellation, marking the first of its kind in North America.
The partnership aims to enhance resilience against disrupted communication pathways in complex and congested areas. The Proof of Concept, initiated earlier this year, is advancing toward commercial service. The demonstration showcases the solution's capability to provide communications connectivity in areas with radio frequency congestion challenges.
Globalstar (NYSE American: GSAT) has secured a significant 15-year renewal from the FCC for its mobile earth terminal operations authorization. The renewal, granted to GUSA Licensee , allows Globalstar to operate various categories of mobile earth terminals with its U.S. and French-licensed NGSO satellites across the United States and its territories. The authorization maintains Globalstar's ability to expand its ancillary terrestrial network and support hundreds of millions of users requiring direct-to-device connectivity. This follows the August renewal of Globalstar's HIBLEO-4 system, completing the reauthorization of their current mobile satellite system.
Globalstar partner Spotter has achieved significant growth in satellite IoT horse tracking technology, with over 30,000 Horse Tracker collars deployed across Mongolia, Kazakhstan, and Kyrgyzstan. The company has seen sales more than double in the last 24 months, with a nearly 160% increase since October 2022. Each collar is equipped with Globalstar's SmartOne C satellite IoT transmitter, enabling reliable monitoring of free-roaming horses in areas beyond cellular coverage. The solution's success is attributed to SmartOne C's compact size, versatility, and cost-effectiveness, along with Globalstar's expanded Eurasian ground station gateway network.
Globalstar (NYSE: GSAT) has announced an upcoming Analyst & Investor Day scheduled for Thursday, December 12, 2024, starting at 9:00 a.m. ET. The event will feature presentations from the company's senior management team, who will provide detailed updates on strategic initiatives, growth opportunities, and long-term financial framework.
The event will include formal presentations and Q&A sessions, with presentation materials being made available on Globalstar's investor relations website. Interested participants can register through the company's dedicated event webpage.
Globalstar (NYSE American: GSAT) has announced plans to transfer its common stock listing to the Nasdaq Global Select Market in the first quarter of 2025. The company's Board of Directors has authorized a reverse stock split to coincide with the uplisting. These strategic moves aim to align trading fundamentals with peers, improve liquidity, and attract greater institutional investor participation. The company will continue trading on NYSE American until the uplisting process is complete. CEO Paul E. Jacobs stated these changes reflect the company's momentum and growth trajectory, expecting to enhance visibility and attract a more diverse shareholder base.
Globalstar (NYSE: GSAT) has been selected as the winning bidder in Mexico's public Auction #13 by the Instituto Federal de Telecomunicaciones (IFT). The auction grants terrestrial authorization for frequencies 2483.5 to 2495 MHz in Mexico through Globalstar's subsidiary, Mobile Satellite Services Mexico. Upon payment completion, Globalstar will receive a 10-year terrestrial authorization from IFT, enabling the expansion of terrestrial applications throughout Mexico.
Globalstar (NYSE American: GSAT) announced its participation in Deutsche Bank's Global Space Summit on November 20, 2024, in New York. Dr. Paul Jacobs will deliver a presentation at 9:00 a.m. EST. CFO Rebecca Clary, Dr. Jacobs, and other management team members will be available for one-on-one meetings during the event. Interested parties can arrange meetings through their Deutsche Bank sales representatives.
FAQ
What is the current stock price of Globalstar (GSAT)?
What is the market cap of Globalstar (GSAT)?
What services does Globalstar, Inc. provide?
Who are the primary customers of Globalstar?
In how many countries does Globalstar operate?
What products are included in Globalstar's SPOT family?
Where does Globalstar generate most of its revenue?
What industries benefit from Globalstar's services?
What type of satellite solutions does Globalstar offer?
Are Globalstar's services suitable for individual recreational consumers?
What is the primary use case for Globalstar's mobile satellite services?
Does Globalstar offer one-way data transmission?
