Globalstar - GSAT STOCK NEWS

Globalstar, Inc. (NYSE American: GSAT) has received authorization from the Kingdom of Thailand's National Broadcasting and Telecommunications Commission (NBTC) to provide mobile satellite services across Thailand. This includes the operation of a new ground station located at Thaicom’s Teleport Center in Patumthani province, just north of Bangkok. Globalstar is the first and only Low Earth Orbit (LEO) satellite constellation permitted to operate in Thailand. This partnership with Thaicom is expected to enhance satellite service offerings, including critical Emergency SOS communications, and foster long-term growth and collaboration in the satellite industry.

Globalstar (NYSE American: GSAT) has launched Realm Cloud, a mobile device and data management platform that enhances visibility and control over asset tracking solutions. This platform allows VARs and customers to quickly deploy customized solutions while reducing ownership costs. Realm Cloud includes features like custom dashboards, API integrations, and standard data decoding for Globalstar products, as well as the ability to manage other devices. According to Chirag Patel from Globalstar, this innovation aims to improve time-to-market and functionality for users.

Globalstar, Inc. (NYSE: GSAT) has entered a significant partnership with Qualcomm Technologies, Inc. to enhance 5G Private Network capabilities. This collaboration focuses on 5G RAN technologies, integrating Qualcomm's FSM platforms with Globalstar's Band n53 spectrum globally. The deal includes licensing of the Band n53 spectrum to system integrators for deploying 5G solutions and emphasizes the use of the Qualcomm Edgewise Suite for efficient management. Globalstar's VP, Kyle Pickens, noted this alliance as essential for fostering a robust terrestrial ecosystem. This initiative aims to improve connectivity solutions swiftly for enterprises worldwide.

Globalstar, Inc. (GSAT) reported its Q4 and full-year 2022 financial results, showing a 19% revenue growth to $148.5 million, driven by increased service revenue. Q4 total revenue rose 20% year-over-year, with service revenue up 22% thanks to wholesale capacity contracts.

Despite supply chain disruptions, Commercial IoT revenue surged by over 100%. Loss from operations decreased by 40% to $9.3 million, with net loss falling to $5.3 million. Adjusted EBITDA improved 48% to $18.3 million. Globalstar is poised to benefit from a stronger capital structure and market opportunities, including a new terrestrial services authorization in Spain.

Globalstar, Inc. (NYSE American: GSAT) will announce its fourth quarter and annual 2022 financial results on March 1, 2023, before the market opens. A conference call is scheduled for March 7, 2023, at 9:00 a.m. ET for discussing these results. Investors can access a live webcast of the earnings call through the company's website and are encouraged to register online for participation. Globalstar provides satellite and terrestrial connectivity services and operates a LEO satellite constellation, catering to various sectors including government and consumer markets.

Globalstar, Inc. (NYSE American: GSAT) announced that Spain has authorized it to provide complementary terrestrial services, utilizing its mobile satellite spectrum for LTE and 5G services via Band 53/n53. This development positions Spain as the first European country to adopt this innovative approach, which aims to enhance global connectivity and safety. The new Spanish ground station joins other European stations in France, Greece, and Estonia, ensuring quality service and coverage across Europe and North Africa. The company appreciates the contributions of various partners, including the Spanish Ministry for the Economy and Digital Transformation.

Globalstar (AMEX: GSAT) has entered a commercial agreement with Wiagro, an Agtech start-up in Argentina, to supply 2,500 ST100 satellite modem transmitters. These modems will enhance the Smart Silobag®, which enables remote monitoring of grain storage conditions, aiding efficiency in the post-harvest process. The collaboration aims to deploy this technology by the end of 2024. The ST100's compact size, low power consumption, and reliability make it suitable for the IoT application in agriculture, reflecting Globalstar's commitment to empowering agricultural technology in Latin America.

Rocket Lab USA has been selected by MDA Ltd to develop the Satellite Operations Control Center (SOCC) for Globalstar's expanding Low Earth Orbit constellation. This contract enhances Rocket Lab's existing partnership with MDA and Globalstar, building on a previous $143 million contract for 17 spacecraft buses. The SOCC, developed in Denver, will ensure constant monitoring and control of Globalstar's satellites. The project underlines Rocket Lab's commitment to providing comprehensive space mission solutions beyond just launch services.

Globalstar, Inc. (NYSE: GSAT) reported a 15% increase in total revenue for Q3 2022, up $5 million from Q3 2021, driven by higher service revenue. Service revenue rose $5.5 million mainly from wholesale capacity, despite supply chain challenges impacting subscriber equipment sales. Loss from operations ballooned to $186.6 million due to a $174.5 million non-cash charge related to Duplex assets abandonment. Adjusted EBITDA improved by 35% year-over-year. Looking ahead, Globalstar anticipates 2023 revenue between $185 million and $230 million.