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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.
Globalstar, Inc. (NYSE American: GSAT) reported strong financial results for Q1 2024, exceeding expectations with total revenue higher sequentially and year-over-year. The company re-iterated its full-year 2024 revenue and Adjusted EBITDA guidance. Significant progress was made on new initiatives driving future revenue growth, including government contracts, new technology testing, and commercial product shipments. Operational highlights include testing XCOM RAN products, customer wins, and advancements in satellite services. Financially, service revenue increased with a government services agreement, while subscriber equipment sales revenue declined. Loss from operations was driven by higher expenses and lower equipment revenue, leading to a net loss increase. Adjusted EBITDA slightly decreased, and liquidity remains stable with cash and cash equivalents of $59.3 million as of March 31, 2024.
Globalstar, Inc. (NYSE American: GSAT) will announce its first quarter 2024 financial results on May 8, 2024. The earnings call will be held at 5:00 p.m. ET on the same day. Details for participation are provided.
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