# Globalstar, Inc. Common Stock (GSAT) — Stock CV

Globalstar, Inc. is a $10.8B communication services company. Revenue grew 7.7% over the last year, it currently loses money, and its net debt equals ~0.0 years of free cash flow.

> Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services. Mobile satellite services, including voice and data communications services to retail, business, and governmental customers, as well as wholesale satellite capacity services.

## Identity

- **Ticker**: GSAT
- **Sector**: Communication Services
- **Industry**: Communications Services, Nec
- **Headquarters**: COVINGTON,, LA
- **Employees**: 477
- **Website**: https://www.globalstar.com
- **Market cap**: $10.8B
- **Last price**: $83.74
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $281M
- **Net income**: -$51.9M
- **Free cash flow**: $566M
- **Net debt**: $4.48M
- **Revenue growth (YoY)**: 7.7%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 30 |
| Growth | 25 |
| Profitability | 5 |
| Health | 51 |
| Quality | 35 |
| Moat | 35 |

## Qualifications (beginner checklist) — 7 of 10 passed

- [x] Revenue growing — +7.7% YoY
- [ ] Profitable — -$51.9M TTM
- [x] Profit growing — +86.3% YoY
- [x] Generates cash — $566M TTM
- [x] Debt under control — ~0.0y of cash flow to repay
- [x] Established company — $10.8B market cap
- [ ] Not printing shares — +15.8% shares over ~5y
- [ ] Proven track record — 1/10 profitable years
- [x] Financially stable — Altman Z 1.9 — grey
- [x] Pays a dividend — yield 0.10%

## Experience (career milestones)

- **Apr 14, 2026** — Amazon announced an agreement to acquire Globalstar for $11.57 billion
- **2024** — Globalstar disclosed that Apple had agreed to acquire a 20% stake in the company
- **FY2020** — Positive free cash flow every year since: 6-year streak
- **FY2019** — Turned profitable: $15.3M net income after a loss year
- **FY2019** — Best year on record: $15.3M net income
- **2018** — SPOT X, a two-way satellite messenger with GPS location tracking, navigational capabilities, social media linking…
- **2007** — Globalstar launched eight additional first-generation satellites to supplement failing spacecraft
- **2006** — Globalstar LLC was incorporated in April 2006 to become Globalstar, Inc
- **2004** — When the new Globalstar emerged from bankruptcy in April 2004, it was owned by Thermo Capital Partners (81.25%) and…
- **2001** — Following the September 11 attacks in 2001, Qualcomm developed an experimental airborne Globalstar system using…
- **1998** — The first satellites were launched in February 1998
- **1995** — Globalstar Telecommunications Ltd. raised $200 million from its initial public offering in the…
- **1991** — The Globalstar project was launched in 1991 as a joint venture between Loral Space & Communications and Qualcomm

## Strengths

- High gross margin (62.3%)
- Strong cash conversion — FCF is 201.6% of revenue
- Could repay net debt from ~0.0 years of free cash flow

## Watch-outs

- Not profitable — 18.5% net margin
- Thin interest coverage (0.9×)
- Loss-making in 9 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $124M | -$113M | $126M |
| FY2022 | $149M | -$257M | $56.7M |
| FY2023 | $224M | -$24.7M | $67.4M |
| FY2024 | $250M | -$63.2M | $432M |
| FY2025 | $273M | -$8.65M | $616M |

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Source: https://stockcv.com/GSAT — derived from company filings; may be delayed or incomplete. Information, not investment advice.