New York, March 2, 2026, 09:17 EST — Premarket
- GSAT down about 1.6% premarket after a 7.6% jump in the prior session
- Company guided 2026 revenue at $280 million-$305 million, with adjusted EBITDA margin near 50%
- Focus shifts to cash needs for satellite/network buildout and customer concentration flagged in latest filing
Globalstar shares eased 1.6% to $61.25 in premarket trading on Monday, paring part of Friday’s advance that lifted the stock 7.6% to $62.27. 1
The stock swung sharply in the last regular session, trading between $56 and $64, a day after sliding 8.8%. 2
The early pullback matters because Globalstar is trying to fund a capital-heavy network refresh while selling more satellite connectivity to businesses. Investors are now looking for proof the next leg of growth is showing up in quarterly numbers, not just in product demos.
Globalstar guided 2026 total revenue between $280 million and $305 million and said it expects an adjusted EBITDA margin of about 50%. Chief Executive Dr. Paul E. Jacobs called 2025 “a transformational year” as the company expanded satellite IoT (internet-connected devices) and its private wireless push. 3
Under the hood, the company pointed to higher wholesale capacity services and performance bonuses in the fourth quarter, alongside higher Commercial IoT device sales. It also flagged churn in its Duplex and SPOT lines and softer XCOM RAN system sales as offsets.
For the fourth quarter, Globalstar reported $72.0 million in revenue and said net loss narrowed to $11.6 million. It ended 2025 with $447.5 million in cash and equivalents, while operating cash flow of $621.7 million included $430.6 million tied to an infrastructure prepayment; capital expenditures were $550.4 million and debt stood at $410.0 million, it said. 4
But the latest annual filing underscores a key dependency: consideration under the Updated Services Agreements made up about 63% of 2025 revenue, and some fees are payable only if conditions in those agreements are met, the report said. 5
That leaves the trade unusually sensitive to any slip in deployment timelines or milestones tied to the extended network build, even if near-term revenue holds up. A miss on spend, schedule, or customer outcomes can turn a “steady” year into a messy one fast.
On the calendar, Globalstar’s XCOM RAN operation is slated to be at Mobile World Congress Barcelona from March 2-5, a venue closely watched for new enterprise connectivity deals across the sector. 6
Traders will watch whether GSAT can hold Friday’s breakout once regular trading opens at 9:30 a.m. ET. Zacks expects Globalstar’s next earnings report on May 14. 7
