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. (NASDAQ: GSAT) is a global telecommunications provider that regularly issues news on its satellite and terrestrial connectivity business. The company operates a low Earth orbit (LEO) satellite constellation and holds licensed Band 53/n53 spectrum, and its news flow reflects developments across mobile satellite services, IoT solutions, and private network offerings.
Recent Globalstar announcements have focused on expansion of its ground infrastructure and progress on its third-generation C-3 Satellite System. The company has reported new and expanded ground stations in regions such as Brazil, South Korea, and Alaska, adding multiple C-3 tracking antennas to support mobile satellite services, IoT connectivity, and device-to-device (D2D) solutions across large geographic areas.
News items also highlight Globalstar’s investment program to expand its space and ground network, including commissioning new replacement satellites and advancing initiatives tied to international connectivity pledges. Updates on the HIBLEO XL-1 satellite system filing and broader C-3 buildout provide insight into how the company is preparing for higher-capacity and more resilient satellite services.
In addition, Globalstar’s news coverage includes product and technology developments such as the commercial rollout of the RM200M two-way satellite IoT module and the evolution of its XCOM RAN private 5G platform. The company has reported collaborations and trials with partners in areas like autonomous drones, warehouse automation, and multi-network IoT connectivity, demonstrating how its spectrum and private network solutions are being applied in real-world use cases.
Investors and observers can use the GSAT news page on Stock Titan to follow earnings releases, infrastructure expansion updates, product launches, and partnership announcements, providing a consolidated view of Globalstar’s operational and strategic developments over time.
Globalstar, Inc. (GSAT) is set to announce its fourth quarter and annual 2021 financial results on February 24, 2022, after market close. The company is known for its SPOT Satellite GPS Messenger and operates a low-earth orbit (LEO) satellite constellation that provides connectivity and safety solutions across 120 countries. Its offerings include IoT products, cloud-based telematics solutions, and various GPS messaging devices, aimed at enhancing safety and operational efficiencies for consumers and businesses.
Globalstar Inc. (GSAT) announced its collaboration with the University of Toronto Trash Team to study plastic pollution in Lake Ontario using its innovative SmartOne C Satellite Trackers. This project, part of the Tagging Trash Project, aims to track the movement of plastic litter to identify sources and accumulation zones. Initial results will be shared in a webinar on November 23, 2021. The partnership highlights Globalstar's commitment to environmental solutions through its IoT satellite technology, which is critical for monitoring and managing remote assets.
Globalstar, Inc. (GSAT) announced third-quarter 2021 results, highlighting a revenue increase in SPOT and Commercial IoT services. SPOT activations rose 17% year-over-year, with total subscriber base exceeding pre-COVID levels at approximately 275,000. Revenue from Commercial IoT equipment sales surged about 50%, despite a decline in Duplex service revenue. The company reported an operating loss of $14.7 million and a net loss that increased by $5.9 million. Cash and cash equivalents totaled $11.3 million as of September 30, 2021.
Globalstar (NYSE: GSAT) reported its Q2 2021 financial results, showing a slight decline in total revenue compared to Q2 2020, with service revenue affected by fewer Duplex subscribers. Notably, SPOT activations increased by 33%, and commercial IoT equipment sales doubled, indicating future service revenue potential. The company has reduced its net first lien debt to under $50 million and achieved a net loss of $16 million, slightly higher than the previous year. Despite challenges, including a decrease in ARPU, Globalstar remains optimistic about new opportunities in the Commercial IoT space.
Globalstar (NYSE American: GSAT) announced a partnership with FocusPoint International Inc. to offer the Global Overwatch & Rescue™ Plan for crisis assistance to its customers. This plan includes travel medical services, security assistance, and no-cost evacuations for annual plan users. Available immediately for $24.95 per year, it aims to enhance safety for Globalstar and SPOT customers traveling in hazardous conditions. CEO David Kagan highlighted the service's value for users involved in extreme sports and frequent travel.
SPOT LLC, a subsidiary of Globalstar (GSAT), has partnered with Desert Vets Racing, a non-profit organization founded by military veterans. This partnership aims to enhance communication and safety for off-road racing participants in remote areas. SPOT provides critical goods and services, including satellite messaging devices that have facilitated nearly 7,500 rescues to date. The initiative supports veterans and active-duty personnel by promoting team building and mental health through racing activities, with all travel and lodging costs covered for participants.
Globalstar announced its Q1 2021 operating and financial results, reporting a 16% decrease in total revenue compared to Q1 2020 due to timing of engineering services. However, Commercial IoT revenue increased, with a sales pipeline showing strong future potential. The company shipped 10,000 IoT units for animal tracking, enhancing its market position. Despite an increased operating loss of $19.3 million, net loss decreased by $1.9 million. Cash and equivalents totaled $8.4 million as of March 31, 2021, following a successful capital raise of $47.3 million.
Globalstar, Inc. (NYSE American: GSAT) is set to announce its first quarter 2021 financial results on May 6, 2021, after market close. The company specializes in Satellite IoT Solutions across various industries, including oil and gas, transportation, and emergency management. Globalstar is known for its SmartOne asset tracking products, commercial IoT transmitters, and SPOT product line for safety and messaging. These products enhance operational efficiency and remote monitoring capabilities, supported by the Globalstar Satellite Network.
Globalstar, Inc. (NYSE American: GSAT) will virtually participate in the 24th Annual Burkenroad Reports Investment Conference on April 23, 2023, at 10:00 a.m. CDT. CEO David Kagan will present, with a live stream and presentation materials available on Globalstar's investor relations page. The event is free and open to the public; registration can be completed at burkenroad.org.
Globalstar do Brasil Ltda., a subsidiary of Globalstar (NYSE: GSAT), has partnered with Cisa Trading to enhance asset management solutions in Brazil's oil and gas sector. Their collaboration has improved operations for a major oil company, utilizing Globalstar SmartOne Solar devices for satellite tracking of 4,400 containers in remote areas. These solar-powered devices promise efficiency and low maintenance over a decade. The partnership aims to expand Globalstar's IoT business, capitalizing on Brazil's increasing crude oil exports and potential market growth.