Globalstar Stock Price, News & Analysis

Globalstar, Inc. (NYSE: GSAT) announced a purchase agreement to issue $200 million in 13% Senior Notes due 2029, aimed at strengthening its balance sheet. Closing is anticipated around March 31, 2023. Proceeds will primarily cover $148 million under its 2019 facility agreement, with the remainder for general corporate purposes. CFO Rebecca Clary emphasized the financing's role in bolstering their position amid tough capital markets. CEO Dave Kagan highlighted a focus on wholesale revenue, expanding IoT services, legacy business, and spectrum monetization opportunities.

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.