NASDAQ : GSAT
Globalstar, Inc. — Financial statements
Communication Services · Telecom Services · United States
Last price 82.3 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 10.66B
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Financial statements
Globalstar, Inc. (GSAT) reported revenue of 280.64M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 280.64M | 272.99M | 250.35M | 223.81M | 148.50M | 124.30M |
| Cost of Revenue | 105.95M | 98.79M | 82.77M | 69.47M | 65.02M | 51.96M |
| Gross Profit | 174.69M | 174.20M | 167.57M | 154.34M | 83.48M | 72.33M |
| Selling, General & Admin | 68.01M | 52.63M | 43.43M | 43.46M | 33.35M | 34.63M |
| Operating Expenses | 161.26M | 163.44M | 167.97M | 154.14M | 137.99M | 137.59M |
| Operating Income | 13.43M | 10.76M | -393.00K | 198.00K | -54.50M | -65.26M |
| Interest Expense | -66.02M | -40.92M | -13.56M | -14.61M | -30.17M | -43.54M |
| Currency Exchange Gain (Loss) | -3.32M | 15.75M | -16.61M | 4.86M | -6.59M | -6.31M |
| Other Non Operating Income (Expenses) | 8.73M | 14.97M | -2.53M | -3.28M | -1.84M | -675.00K |
| EBT Excluding Unusual Items | -47.18M | 555.00K | -33.09M | -12.83M | -93.11M | -115.78M |
| Asset Writedown | -254.00K | -7.23M | -556.00K | -363.00K | -166.53M | -242.00K |
| Other Unusual Items | 4.18M | 3.90M | -27.38M | -10.40M | 2.79M | 3.10M |
| Pretax Income | -43.25M | -2.77M | -61.03M | -23.59M | -256.84M | -112.92M |
| Income Tax Expense | 8.63M | 5.88M | 2.13M | 1.12M | 73.00K | -299.00K |
| Net Income | -51.88M | -8.65M | -63.16M | -24.72M | -256.92M | -112.62M |
| Preferred Dividends & Other Adjustments | 10.61M | 10.61M | 10.63M | 10.61M | 1.34M | |
| Net Income to Common | -62.49M | -19.26M | -73.80M | -35.32M | -258.25M | -112.62M |
| Shares Outstanding (Basic) | 127.87M | 126.76M | 125.88M | 122.33M | 120.06M | 117.68M |
| Shares Outstanding (Diluted) | 127.87M | 126.76M | 125.88M | 122.33M | 120.06M | 117.68M |
| EPS (Basic) | -0.49 | -0.15 | -0.59 | -0.29 | -2.15 | -0.96 |
| EPS (Diluted) | -0.49 | -0.15 | -0.59 | -0.29 | -2.15 | -0.96 |
| Free Cash Flow | 89.72M | 76.79M | 185.39M | -100.17M | 24.49M | 88.14M |
| Free Cash Flow Per Share | 0.70 | 0.61 | 1.47 | -0.82 | 0.20 | 0.75 |
| Gross Margin | 62.25% | 63.81% | 66.94% | 68.96% | 56.22% | 58.19% |
| Operating Margin | 4.79% | 3.94% | -0.16% | 0.09% | -36.70% | -52.50% |
| Profit Margin | -22.27% | -7.05% | -29.48% | -15.78% | -173.90% | -90.61% |
| Free Cash Flow Margin | 31.97% | 28.13% | 74.05% | -44.76% | 16.49% | 70.91% |
| EBITDA | 90.75M | 98.16M | 88.59M | 88.39M | 39.38M | 30.98M |
| EBITDA Margin | 32.34% | 35.96% | 35.39% | 39.49% | 26.52% | 24.92% |
| D&A For EBITDA | 77.31M | 87.40M | 88.99M | 88.19M | 93.88M | 96.24M |
| EBIT | 13.43M | 10.76M | -393.00K | 198.00K | -54.50M | -65.26M |
| EBIT Margin | 4.79% | 3.94% | -0.16% | 0.09% | -36.70% | -52.50% |
| Revenue as Reported | 280.64M | 272.99M | 250.35M | 223.81M | 148.50M | 124.30M |
| Advertising Expenses | 3.60M | 3.00M | 2.80M | 2.00M | 2.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 409.77M | 447.47M | 391.16M | 56.74M | 32.08M | 14.30M |
| Cash & Short-Term Investments | 409.77M | 447.47M | 391.16M | 56.74M | 32.08M | 14.30M |
| Accounts Receivable | 20.53M | 19.98M | 26.95M | 48.74M | 26.33M | 21.18M |
| Other Receivables | 2.00M | 2.50M | 2.20M | |||
| Receivables | 20.53M | 21.98M | 29.45M | 50.94M | 26.33M | 21.18M |
| Inventory | 10.94M | 9.61M | 10.74M | 14.58M | 9.26M | 13.83M |
| Prepaid Expenses | 22.23M | 17.67M | 16.21M | 20.38M | 13.57M | 19.56M |
| Total Current Assets | 463.46M | 496.73M | 447.57M | 142.65M | 81.24M | 68.87M |
| Property, Plant & Equipment | 1.61B | 1.37B | 705.47M | 658.17M | 591.23M | 704.20M |
| Goodwill | 30.60M | |||||
| Other Intangible Assets | 145.74M | 92.30M | 85.20M | 60.65M | 30.41M | 31.91M |
| Long-Term Accounts Receivable | 3.23M | 3.52M | 5.09M | 16.10M | ||
| Long-Term Deferred Charges | 6.19M | 6.27M | 6.89M | 1.77M | 1.73M | |
| Other Long-Term Assets | 227.09M | 325.07M | 462.21M | 50.86M | 17.72M | 7.41M |
| Total Assets | 2.44B | 2.33B | 1.71B | 924.31M | 738.47M | 814.11M |
| Accounts Payable | 97.35M | 12.82M | 5.37M | 2.49M | 4.17M | 6.69M |
| Accrued Expenses | 16.50M | 29.65M | 16.85M | 19.67M | 14.57M | 20.93M |
| Short-Term Debt | 59.58M | |||||
| Current Portion of Long-Term Debt | 51.40M | 31.84M | 34.60M | 34.60M | ||
| Current Portion of Leases | 7.35M | 8.00M | 4.25M | 3.00M | 2.75M | 2.50M |
| Current Unearned Revenue | 56.18M | 62.02M | 61.20M | 53.68M | 74.64M | 25.93M |
| Other Current Liabilities | 71.13M | 61.16M | 19.21M | 62.47M | 41.37M | 5.52M |
| Total Current Liabilities | 299.91M | 205.49M | 141.49M | 175.91M | 197.08M | 61.56M |
| Long-Term Debt | 307.39M | 451.95M | 476.82M | 325.70M | 132.12M | 237.93M |
| Long-Term Leases | 53.01M | 54.55M | 26.26M | 29.24M | 27.64M | 29.24M |
| Long-Term Unearned Revenue | 1.03B | 806.93M | 288.17M | 3.21M | 62.88M | 112.05M |
| Pension & Post-Retirement Benefits | 3.29M | |||||
| Long-Term Deferred Tax Liabilities | 1.04M | 711.00K | 329.00K | 322.00K | 296.00K | |
| Other Long-Term Liabilities | 462.53M | 450.57M | 417.91M | 10.94M | 3.67M | 4.30M |
| Total Liabilities | 2.15B | 1.97B | 1.35B | 545.33M | 423.70M | 448.68M |
| Common Stock | 13.00K | 13.00K | 13.00K | 13.00K | 181.00K | 180.00K |
| Additional Paid-In Capital | 2.49B | 2.49B | 2.47B | 2.44B | 2.35B | 2.15B |
| Retained Earnings | -2.21B | -2.14B | -2.13B | -2.06B | -2.04B | -1.78B |
| Comprehensive Income & Other | 6.66M | 3.29M | 13.45M | 5.07M | 9.24M | 1.89M |
| Shareholders' Equity | 292.61M | 355.73M | 358.88M | 378.98M | 314.77M | 365.43M |
| Total Liabilities & Equity | 2.44B | 2.33B | 1.71B | 924.31M | 738.47M | 814.11M |
| Total Debt | 419.15M | 546.34M | 541.93M | 392.55M | 222.07M | 269.67M |
| Net Cash (Debt) | -9.38M | -98.86M | -150.76M | -335.80M | -189.99M | -255.37M |
| Net Cash Per Share | -0.07 | -0.78 | -1.20 | -2.74 | -1.58 | -2.17 |
| Filing Date Shares Outstanding | 129.56M | 128.55M | 126.44M | 126.67M | 120.73M | 119.80M |
| Total Common Shares Outstanding | 129.56M | 128.05M | 126.42M | 125.41M | 120.74M | 119.77M |
| Working Capital | 163.56M | 291.24M | 306.09M | -33.26M | -115.83M | 7.31M |
| Book Value Per Share | 2.26 | 2.78 | 2.84 | 3.02 | 2.61 | 3.05 |
| Tangible Book Value | 146.87M | 232.83M | 273.68M | 318.33M | 284.36M | 333.53M |
| Tangible Book Value Per Share | 1.13 | 1.82 | 2.16 | 2.54 | 2.36 | 2.78 |
| Land | 3.91M | 3.85M | 3.22M | 2.68M | 1.68M | 1.15M |
| Machinery | 1.21B | 1.21B | 1.28B | 1.35B | 1.36B | 1.52B |
| Construction In Progress | 1.37B | 1.10B | 387.10M | 257.12M | 124.55M | 54.52M |
| Leasehold Improvements | 2.45M | 2.46M | 2.18M | 2.15M | 2.08M | 2.09M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -51.88M | -8.65M | -63.16M | -24.72M | -256.92M | -112.62M |
| Depreciation & Amortization | 77.31M | 87.40M | 88.99M | 88.19M | 93.88M | 98.22M |
| Other Amortization | -3.10M | |||||
| Asset Writedown & Restructuring Costs | 254.00K | 7.23M | 556.00K | 363.00K | 166.53M | 242.00K |
| Stock-Based Compensation | 15.94M | 23.41M | 35.55M | 22.49M | 10.75M | 6.73M |
| Other Operating Activities | 73.65M | 20.88M | 44.48M | 24.02M | 43.08M | 43.41M |
| Change in Accounts Receivable | 1.89M | 7.49M | 26.66M | 12.69M | -1.01M | 1.36M |
| Change in Inventory | 940.00K | 1.52M | 2.80M | -4.15M | -2.38M | -80.00K |
| Change in Accounts Payable | 4.50M | 1.05M | -1.38M | -3.41M | -11.37M | -3.65M |
| Change in Unearned Revenue | 449.41M | 481.54M | 301.77M | -38.59M | 23.14M | 107.30M |
| Change in Other Net Operating Assets | -328.00K | -217.00K | 2.93M | -2.54M | -1.91M | -5.93M |
| Operating Cash Flow | 571.68M | 621.65M | 439.19M | 74.34M | 63.80M | 131.88M |
| Capital Expenditures | -481.96M | -544.86M | -253.80M | -174.51M | -39.31M | -43.74M |
| Sale of Property, Plant & Equipment | 350.00K | |||||
| Sale (Purchase) of Intangibles | -4.96M | -5.52M | -6.77M | -1.10M | -643.00K | -1.80M |
| Investing Cash Flow | -486.92M | -550.38M | -260.57M | -175.61M | -39.95M | -45.19M |
| Long-Term Debt Issued | 27.15M | 259.37M | 307.25M | |||
| Total Debt Issued | 47.07M | 27.15M | 259.37M | 307.25M | ||
| Long-Term Debt Repaid | -34.60M | -269.53M | -160.78M | -6.34M | -186.99M | |
| Total Debt Repaid | -23.55M | -34.60M | -269.53M | -160.78M | -6.34M | -186.99M |
| Net Debt Issued (Repaid) | 23.52M | -7.45M | -10.15M | 146.47M | -6.34M | -186.99M |
| Issuance of Common Stock | 3.50M | 1.88M | 177.97M | 919.00K | 44.42M | |
| Preferred Dividends Paid | -10.61M | -10.61M | -10.63M | -11.94M | ||
| Dividends Paid | -10.61M | -10.61M | -10.63M | -11.94M | ||
| Other Financing Activities | -8.74M | -626.00K | 2.28M | |||
| Financing Cash Flow | 16.41M | -16.18M | 157.18M | 125.79M | -6.05M | -140.28M |
| Foreign Exchange Rate Adjustments | 376.00K | 1.22M | -1.38M | 140.00K | -22.00K | -132.00K |
| Net Cash Flow | 101.55M | 56.31M | 334.42M | 24.66M | 17.78M | -53.72M |
| Free Cash Flow | 89.72M | 76.79M | 185.39M | -100.17M | 24.49M | 88.14M |
| Free Cash Flow Margin | 31.97% | 28.13% | 74.05% | -44.76% | 16.49% | 70.91% |
| Free Cash Flow Per Share | 0.70 | 0.61 | 1.47 | -0.82 | 0.20 | 0.75 |
| Levered Free Cash Flow | -290.44M | -388.25M | -150.93M | -107.14M | 92.86M | -5.61M |
| Unlevered Free Cash Flow | -249.18M | -362.68M | -142.45M | -98.01M | 111.72M | 24.70M |
| Cash Interest Paid | 15.67M | 13.51M | 5.53M | |||
| Cash Income Tax Paid | 6.48M | 6.48M | 1.90M | 300.00K | 197.00K | 188.00K |
| Change in Working Capital | 456.41M | 491.38M | 332.79M | -36.00M | 6.47M | 99.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 10.75B | 7.74B | 3.92B | 3.64B | 2.39B | 2.08B |
| Enterprise Value | 10.76B | 7.97B | 4.29B | 3.95B | 2.73B | 2.39B |
| Last Close Price | 82.30 | 61.04 | 31.05 | 29.10 | 19.95 | 17.40 |
| Forward PE | 231.01 | 192.72 | 192.72 | 192.72 | 192.72 | |
| PS Ratio | 38.40 | 28.36 | 15.66 | 16.26 | 16.12 | 16.74 |
| PB Ratio | 36.44 | 21.76 | 10.92 | 9.60 | 7.61 | 5.69 |
| P/TBV Ratio | 73.38 | 33.25 | 14.33 | 11.43 | 8.42 | 6.24 |
| P/FCF Ratio | 120.13 | 100.82 | 21.15 | 97.78 | 23.60 | |
| P/OCF Ratio | 18.85 | 12.45 | 8.93 | 48.96 | 37.53 | 15.77 |
| EV/Sales Ratio | 38.43 | 29.19 | 17.14 | 17.64 | 18.41 | 19.22 |
| EV/EBITDA Ratio | 118.86 | 81.18 | 48.44 | 44.66 | 69.43 | 77.12 |
| EV/EBIT Ratio | 802.92 | 740.69 | 19,936.42 | |||
| EV/FCF Ratio | 120.23 | 103.77 | 23.15 | 111.64 | 27.10 | |
| Debt / Equity Ratio | 1.43 | 1.54 | 1.51 | 1.04 | 0.71 | 0.74 |
| Debt / EBITDA Ratio | 4.14 | 5.09 | 5.69 | 4.14 | 5.03 | 8.65 |
| Debt / FCF Ratio | 4.67 | 7.12 | 2.92 | 9.07 | 3.06 | |
| Net Debt / Equity Ratio | 0.03 | 0.28 | 0.42 | 0.89 | 0.60 | 0.70 |
| Net Debt / EBITDA Ratio | 0.10 | 1.01 | 1.70 | 3.80 | 4.82 | 8.24 |
| Net Debt / FCF Ratio | 0.10 | 1.29 | 0.81 | -3.35 | 7.76 | 2.90 |
| Asset Turnover | 0.13 | 0.14 | 0.19 | 0.27 | 0.19 | 0.15 |
| Inventory Turnover | 9.45 | 9.71 | 6.54 | 5.83 | 5.63 | 3.77 |
| Quick Ratio | 1.44 | 2.29 | 2.97 | 0.61 | 0.30 | 0.58 |
| Current Ratio | 1.54 | 2.42 | 3.16 | 0.81 | 0.41 | 1.12 |
| Return on Equity (ROE) | -15.88% | -2.42% | -17.12% | -7.13% | -75.54% | -28.57% |
| Return on Assets (ROA) | 0.39% | 0.33% | -0.02% | 0.01% | -4.39% | -4.79% |
| Return on Invested Capital (ROIC) | 3.26% | 2.23% | -0.06% | 0.03% | -9.69% | -9.12% |
| Return on Capital Employed (ROCE) | 0.60% | 0.50% | 0.00% | 0.00% | -10.10% | -8.70% |
| Earnings Yield | -0.59% | -0.11% | -1.61% | -0.68% | -10.73% | -5.41% |
| FCF Yield | 0.83% | 0.99% | 4.73% | -2.75% | 1.02% | 4.24% |
| Buyback Yield / Dilution | -1.19% | -0.70% | -2.90% | -1.90% | -2.02% | -7.48% |