Globalstar, Inc. (GSAT)

Over the past six months, Globalstar reported an 11% increase in total revenue for Q2 2025, driven by Wholesale Capacity Services and Equipment sales, along with modest growth in Commercial IoT subscribers. An analyst upgraded GSAT to a "Strong Buy" rating with a price target of $55.48, citing new government and defense contracts worth over $60 million and the expansion of its LEO satellite constellation. Globalstar announced its Q3 2025 financial results. Globalstar announced significant progress towards its $2 billion pledge to the International Telecommunication Union (ITU) Partner2Connect initiative, having invested over $1 billion to strengthen its global satellite network and expand broadband and IoT connectivity. The company has commissioned new replacement satellites and commenced the global buildout of its third-generation C-3 system. Globalstar received FCC approval to extend its authorization for 15 years to operate up to 26 replacement satellites. The company's stock price has seen significant movement, with a 114.18% change over the past year, and a 52-week range between $17.24 and $65.52. As of November 26, 2025, the share price was $61.04.

Demand for Globalstar's products and services is influenced by various factors, including diverse market segments with seasonal operational cycles. Demand for emergency communication systems and remote connectivity might be less seasonal and more driven by unpredictable events. Demand for wholesale satellite capacity could be influenced by the growth and expansion plans of its partners. The company acknowledges that demand for wireless communication services via satellite may not grow, or could even shrink, generally or in specific geographic markets, for particular services, or during certain periods. The nature of its diverse customer base suggests that demand could fluctuate based on the seasonal activities within those industries.

Globalstar, Inc. is an American telecommunications company operating a low Earth orbit satellite constellation, providing mobile satellite services globally. Its core business includes satellite phone services, low-speed data transmission, and Earth observation. Major products include duplex two-way voice and data products, commercial IoT products, SPOT consumer retail products, wholesale satellite capacity and terrestrial spectrum, and engineering services. Globalstar serves diverse markets, including recreation, government, oil and gas, maritime, construction, transportation, mining, leisure, emergency services, agriculture, and forestry.

Globalstar operates a satellite network covering approximately 80% of the Earth's surface, providing mobile satellite services in over 120 countries, including the United States, Canada, Europe, Central and South America. The company is actively expanding its global infrastructure, with ground station construction projects underway at 14 sites in 8 countries across 4 continents.

Strategic partnerships, such as the collaboration with Apple Inc. for Emergency SOS via satellite, enhance Globalstar's visibility and reputation. Network expansion and investment, evidenced by its $2 billion ITU pledge and over $1 billion investment, reinforce its image as a reliable provider. Securing new government and defense contracts demonstrates trust in Globalstar's technology. The commercial rollout of new products like the RM200M Two-Way Satellite IoT Module indicates innovation and market relevance. These developments suggest a positive brand perception, emphasizing reliability, innovation, and critical service provision.

Globalstar, Inc.'s ownership structure includes institutional, retail, and individual investors. Insiders hold a significant portion of the company's stock, with individual insiders possessing the majority stake, approximately 61%, with James Monroe III holding about 58% of the company's shares. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Greenhouse Funds LLLP, Susquehanna International Group, Llp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Ashford Capital Management Inc, Hood River Capital Management LLC, State Street Corp, Geode Capital Management, Llc, and American Century Companies Inc. Apple Inc. holds a 20% ownership stake in Globalstar.