Globalstar reported Q4 2025 total revenue of USD 72.0 million, including USD 67.4 million of service revenue and USD 4.6 million of subscriber equipment sales. Q4 net loss was USD 11.6 million and adjusted EBITDA was USD 32.4 million (+7.0%). For FY 2025, Globalstar posted total revenue of USD 273.0 million (+9.0%), including USD 257.3 million of service revenue and USD 15.7 million of subscriber equipment sales. FY 2025 net loss was USD 8.7 million and adjusted EBITDA was USD 136.1 million, with an adjusted EBITDA margin of 50%. Cash and cash equivalents were USD 447.5 million at December 31, 2025, and principal debt was USD 410.0 million. Business updates for 2025 included progress on global ground station expansion in Europe, Asia and North America; completion of the critical design review for next-generation C-3 satellites by MDA Space; rollout of two-way satellite IoT capabilities; Commercial IoT average subscribers up 6% year-over-year with IoT hardware sales revenue and gross activations each up 50%; a Boingo proof-of-concept trial for XCOM RAN in private 5G; defense and government activity including work with Parsons and a Phase II SBIR selection via Virewirx (formerly XCOM Labs); and a transition to trading on the Nasdaq Global Select Market. Globalstar guided for FY 2026 total revenue of USD 280 million to USD 305 million and an adjusted EBITDA margin of approximately 50%.

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