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Globalstar Inc. (GSAT)) delivers critical mobile satellite communications services worldwide, providing essential connectivity where traditional networks falter. This dedicated news hub offers investors and professionals a centralized source for tracking the company’s latest developments.
Find timely updates on quarterly earnings, satellite technology advancements, and strategic partnerships directly from official press releases and verified sources. Our curated collection spans operational milestones, regulatory filings, and market expansions relevant to industries like maritime, energy, and emergency response.
Bookmark this page for streamlined access to Globalstar’s evolving role in satellite communications. Check regularly for updates on network upgrades, service expansions, and financial performance indicators that shape the company’s trajectory in the connectivity sector.
MDA Space has secured a definitive contract worth $1.1 billion CAD with Globalstar to serve as the prime contractor for their next-generation low Earth orbit (LEO) constellation. The agreement involves the manufacture of more than 50 MDA AURORA software-defined digital satellites.
This contract follows an initial Authorization to Proceed (ATP) contract announced on November 17, 2023. Approximately $750 million will be added to MDA's backlog in Q1 fiscal 2025, supplementing the previous ATP value of $350 million.
Globalstar (GSAT) announced plans to transfer its stock listing from NYSE American to the Nasdaq Global Select Market, effective February 11, 2025. The company will implement a previously-disclosed 1-for-15 reverse stock split effective February 10, 2025. Following the transfer, Globalstar expects to meet eligibility requirements for inclusion in the Nasdaq Composite Index.
The reverse stock split will automatically combine every 15 shares of issued and outstanding Common Stock into one share, with fractional shares rounded up to the next whole number. The company's authorized shares will be reduced to 143,333,334. Trading under the symbol 'GSAT' will continue on Nasdaq with a new CUSIP number 378973507.
CEO Dr. Paul E. Jacobs stated this strategic move aims to enhance visibility, attract diverse institutional shareholders, and improve overall liquidity, reflecting the company's strong growth trajectory.
Global Telesat Communications (GTC), a Globalstar reseller and NextPlat Corp subsidiary, reported a 35% year-over-year increase in Globalstar SPOT and satellite IoT device sales in 2024. GTC sold over 10,800 Globalstar devices in 2024, reaching a total of 45,000 device sales overall by May 2024.
The growth was primarily driven by sales of SPOT Gen4, SPOT X, SPOT Trace, and SmartOne C satellite IoT transmitters. GTC attributes the success to SPOT's user-friendly features and competitive pricing. Customers include both individual consumers and organizations, such as utilities suppliers, civil and national defence organizations, and humanitarian aid NGOs operating in unstable regions.
The company also reported strong demand for commercial IoT devices, particularly the SmartOne C transmitter, with a notable implementation in oil and gas pipeline monitoring.
Globalstar (GSAT) has announced its intention to voluntarily delist from NYSE American and transfer to the Nasdaq Global Select Market. This transition is contingent upon completing a previously disclosed reverse stock split of its common stock. The company expects the last trading day on NYSE American to be around February 10, 2025, with trading on Nasdaq beginning around February 11, 2025.
The company will maintain its current trading symbol 'GSAT' on both exchanges. Globalstar believes this strategic move, combined with the reverse stock split, could enhance the stock's appeal to a broader investor base. The stock will continue trading on NYSE American under 'GSAT' until the Nasdaq transfer is complete.
Globalstar (NYSE American: GSAT) and Peiker Holding GmbH have announced a strategic partnership to develop satellite-based emergency services and telematics capabilities for the automotive industry. Peiker, a pioneer in vehicle connectivity modules and emergency call services, will represent Globalstar in Europe and provide technical support for relevant projects. The partnership leverages Peiker's experience with their Polestar telematics system and Globalstar's SPOT satellite messenger technology, which has facilitated over 10,000 rescues.
Peiker will contribute product development resources to optimize Globalstar technologies for automotive applications. The collaboration aims to enhance road safety and improve communication reliability in critical situations. This partnership represents Globalstar's expansion into the automotive sector, focusing on providing critical services for both passengers and vehicles.
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.
