New York, March 2, 2026, 09:17 EST — Premarket
- GSAT slips roughly 1.6% in early premarket trade, pulling back after a 7.6% surge the previous session.
- The company is targeting 2026 revenue between $280 million and $305 million, and sees the adjusted EBITDA margin landing close to 50%.
- Attention turns to cash requirements tied to the satellite and network buildout, with the latest filing highlighting concerns over reliance on a handful of customers.
Globalstar slipped 1.6% to $61.25 before the bell Monday, trimming some of Friday’s 7.6% jump that had pushed the stock up to $62.27. 1
The shares whipsawed from $56 up to $64 during the last regular session, coming off an 8.8% drop the day before. 2
The initial slide is notable: Globalstar’s working to bankroll a costly network upgrade as it pushes harder into selling satellite services to businesses. Investors want to see that growth translating into actual quarterly results—product demos alone won’t cut it.
Globalstar is projecting 2026 total revenue in a range of $280 million to $305 million, and it’s aiming for an adjusted EBITDA margin near 50%. “A transformational year,” is how Chief Executive Dr. Paul E. Jacobs described 2025, pointing to the company’s growth in satellite IoT and its private wireless efforts. 3
The company cited a boost from wholesale capacity services and performance bonuses in the fourth quarter, plus increased sales of Commercial IoT devices. But there were weaker spots: churn affected the Duplex and SPOT lines, and XCOM RAN system sales came in softer.
Globalstar posted fourth-quarter revenue of $72.0 million, trimming its net loss to $11.6 million. The company finished 2025 holding $447.5 million in cash and equivalents. Operating cash flow reached $621.7 million, though $430.6 million of that total was from an infrastructure prepayment. Capital expenditures for the period landed at $550.4 million, and debt tallied $410.0 million, according to the company. 4
The most recent annual filing spotlights a major reliance: roughly 63% of 2025 revenue hinges on consideration tied to the Updated Services Agreements, the report noted. Certain fees get paid out only if those agreements’ conditions are satisfied. 5
The trade’s now hanging on every detail of deployment timing and those key network expansion targets—even if short-term revenue stays solid. Miss the mark on spending, deadlines, or customer delivery, and what looked “steady” could unravel in a hurry.
Globalstar’s XCOM RAN unit has a spot on the roster at Mobile World Congress Barcelona, running March 2-5—a hotspot for fresh enterprise connectivity agreements. 6
All eyes on GSAT after Friday’s breakout—traders want to see if it sticks when trading kicks off at 9:30 a.m. ET. Globalstar’s next earnings are slated for May 14, according to Zacks. 7
