$GSAT · Globalstar, Inc.
Globalstar reported Q3 2026 results: revenue of $70.9M (down from $73.8M a year ago), net loss of $15.7M versus $1.1M profit, and GAAP EPS of $(0.14). The loss was driven by higher non-cash imputed interest on the 2024 Prepayment Agreement and lower service revenue. Adjusted EBITDA fell to $30.3M from $37.6M. The company suspended financial outlook and conference calls pending the Amazon merger.
- Q3 revenue fell to $70.9M from $73.8M, with service revenue down $4.2M.
- Net loss of $15.7M versus $1.1M profit a year earlier; GAAP EPS $(0.14).
- Adjusted EBITDA declined to $30.3M from $37.6M.
- Cash fell to $329.9M from $447.5M at year-end 2025.
- FCC approved Amazon's acquisition of Globalstar's FCC licensing in October.
Extended-hours last trade $84.35, down 0.27% vs regular close but up 0.69% vs filing price, suggesting a muted reaction to the loss given the pending Amazon merger backdrop.
The quarter shows deteriorating standalone financials, but the Amazon merger and FCC approval remain the dominant value driver.
The pending Amazon acquisition dominates the investment thesis, with the FCC licensing approval in October marking a key regulatory milestone toward the 2027 close.
Merger completion depends on remaining regulatory approvals and HIBLEO-4 satellite milestones; failure could trigger a termination fee. Rising MG&A costs reflect legal and professional fees tied to the Amazon transaction.