Globalstar (GSAT)
Globalstar (GSAT) is a downstream mobile satellite services operator that sells voice and data services plus wholesale satellite capacity, including the link behind direct-to-device Emergency SOS on phones. In ETFpedia it represents the consumer-facing end of the U.S. space tech theme. In April 2026 it agreed to be acquired by Amazon.
| Ticker | GSAT |
|---|---|
| Exchange | Nasdaq |
| Sector | Space · Mobile Satellite Services |
| Country | United States |
| Wikidata | Q1202533 |
| Last updated | 2026-06-04 |
Next event:Next earnings · Q2 2026, estimated · Calendar-estimated from prior years and not confirmed by Globalstar; check IR. Last report: Q1 2026 on 2026-05-07. Closing of the Amazon merger could change reporting. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-07)
Globalstar posted Q1 2026 total revenue of $70.1 million, up 17% year over year on higher wholesale capacity services, and an operating profit of $8.2 million, but higher interest expense and derivative losses left a net loss of $17.4 million, or $0.16 per share.
| Total revenue | $70.1M+17%YoY · Service $66.7M; equipment $3.4M |
|---|---|
| Wholesale capacity services | 66% of revenue · Largely tied to its major technology customer |
| Operating income | $8.2M+196%YoY |
| Net loss | -$17.4M · Interest expense and derivative losses; -$0.16 per share |
Revenue by segment
| Service revenue | $66.7M · 95%of revenue+17% YoY |
|---|---|
| Subscriber equipment sales | $3.4M |
Recent & upcoming events
- · Q1 2026 results.Revenue $70.1M (+17%) and operating income $8.2M, with a net loss of $17.4M ($0.16 per share). (source)
- · Agreed to be acquired by Amazon.Entered a merger agreement under which Amazon intends to acquire Globalstar, enabling Amazon Leo to add direct-to-device services to its low Earth orbit network; subject to conditions and approvals. (source)
Figures are from the Q1 2026 earnings release (Form 8-K, Exhibit 99.1) reported May 7, 2026. The Amazon transaction had not closed as of this snapshot.
Figures are as of 2026-06-04 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Globalstar do?
Globalstar operates a low Earth orbit satellite constellation and turns it into two revenue streams: retail mobile satellite voice and data services, and wholesale satellite capacity sold to a large technology partner. The wholesale piece is the engine. It powers direct-to-device features such as Emergency SOS via satellite, and in Q1 2026 wholesale capacity services made up 66% of revenue (Globalstar 8-K, May 7, 2026). Globalstar moved its listing from NYSE American to the Nasdaq Global Select Market in February 2025 alongside a 1-for-15 reverse split (Globalstar / Business Wire).
Why is Globalstar a U.S. space tech company?
The U.S. space tech theme spans the whole value chain, from launch and hardware upstream to services downstream. Globalstar sits firmly at the downstream end. It does not build rockets; it converts an already-orbiting constellation into recurring service and wholesale-capacity revenue, which is how satellite connectivity actually reaches a consumer’s phone. That position is exactly why a hyperscaler wanted it. On April 13, 2026, Globalstar entered a merger agreement under which Amazon intends to acquire the company so that Amazon Leo can add direct-to-device services to future generations of its low Earth orbit network (Globalstar 8-K).
“Subsequent to the quarter end, we announced our entry into a merger agreement with Amazon, which we believe marks a significant milestone, one that validates the long-term strategy Globalstar has pursued for more than 30 years and positions us to deliver on the vision of connecting users and devices anywhere and anytime.”
— Dr. Paul E. Jacobs, CEO, Globalstar (Q1 2026 results)
What did Globalstar report most recently?
In Q1 2026 (the quarter ended March 31, 2026), Globalstar reported total revenue of $70.1 million, up 17% year over year, made up of $66.7 million of service revenue and $3.4 million of subscriber equipment sales, with the service gain driven mainly by higher wholesale capacity services (Globalstar 8-K). The company posted an operating profit of $8.2 million, but it was not net-income positive: higher interest expense and derivative losses pushed it to a net loss of $17.4 million, or $0.16 per share. For full-year 2025, Globalstar generated revenue of $273.0 million, up about 9%, with a net loss of $8.7 million (10-Q).
What is Globalstar’s outlook?
Globalstar’s near-term story is dominated by the pending Amazon transaction rather than formal financial guidance. Management framed the deal as validation of a 30-year strategy and pointed to growing demand across its government, defense, and private wireless businesses. The merger remains subject to conditions and regulatory approvals and had not closed as of June 2026, so its timing and terms are not yet final (Globalstar 8-K).
What are the risks for Globalstar?
- Customer concentration. Wholesale capacity services tied to a single large technology customer made up 66% of Q1 2026 revenue, so the relationship dominates the financial profile.
- Net losses and leverage. Despite an operating profit, interest expense and derivative losses left a net loss; the company carries meaningful debt.
- Deal risk. The Amazon merger is subject to conditions and regulatory approvals and could be delayed, repriced, or blocked.
- Constellation capex. Maintaining and replenishing the satellite constellation, including planned launches and next-generation satellites, requires continued heavy investment.
Related securities, concepts & terms
- U.S. Space Techparent
- EchoStar (SATS)sibling
Related indices & ETFs
- Akros U.S. Space Tech Index · AkrosThe U.S. space-tech index that includes Globalstar as a downstream member.
Frequently asked questions about Globalstar
What does Globalstar do?
Globalstar operates a low Earth orbit satellite constellation and sells mobile satellite voice and data services plus wholesale satellite capacity. The wholesale capacity, largely tied to a major technology customer, powers direct-to-device features such as Emergency SOS, and accounted for 66% of revenue in Q1 2026.
Why is Globalstar part of the U.S. space tech theme?
Globalstar sits at the downstream, consumer-facing end of the space value chain. Rather than building rockets, it converts an in-orbit constellation into recurring service and wholesale-capacity revenue, including the satellite link behind direct-to-device messaging on phones and watches.
Is Globalstar being acquired by Amazon?
On April 13, 2026, Globalstar entered a merger agreement under which Amazon intends to acquire the company, subject to conditions and regulatory approvals. The deal is meant to let Amazon Leo add direct-to-device services to future generations of its low Earth orbit satellite network. As of June 2026 the transaction had not closed.
What was Globalstar's latest revenue, and is it profitable?
Globalstar reported Q1 2026 revenue of $70.1 million, up 17% year over year, and an operating profit of $8.2 million. It is not yet net-income positive: higher interest expense and derivative losses pushed it to a net loss of $17.4 million, or $0.16 per share. Full-year 2025 revenue was $273.0 million with a net loss of $8.7 million.
When does Globalstar report its next earnings?
Globalstar is expected to report Q2 2026 results around August 6, 2026. That date is calendar-estimated and unconfirmed, so check Globalstar's investor relations page. It last reported Q1 2026 on May 7, 2026.
Sources & references
- Globalstar Announces First Quarter 2026 Financial Results (Form 8-K, Exhibit 99.1) · Globalstar, Inc. / SEC EDGAR, 2026-05-07
- Globalstar, Inc. · Q1 2026 quarterly report (Form 10-Q) · Globalstar, Inc. / SEC EDGAR, 2026-05-08
- Globalstar Transfers to Nasdaq Global Select Market · Globalstar, Inc. / Business Wire, 2025-02-11
- Globalstar Announces First Quarter 2026 Financial Results · Globalstar, Inc. / Nasdaq, 2026-05-07
- Globalstar (GSAT) earnings estimates, EPS & revenue · Benzinga, 2026-06-04