Globalstar, Inc. reported a total revenue of $273.0 million for the fiscal year ending December 31, 2025, marking a 9% increase from $250.3 million in 2024. The growth was primarily driven by a significant rise in wholesale capacity services revenue, which increased by 19% to $172.7 million, accounting for 63% of total revenue. However, the company experienced declines in revenue from its SPOT and Duplex services, which fell by 9% and 25%, respectively. The net loss for the year was $8.7 million, a notable improvement from a loss of $63.2 million in the previous year, reflecting a more favorable operational environment.
In terms of operational metrics, Globalstar's subscriber base grew to approximately 791,000 Mobile Satellite Services (MSS) subscribers, up from 778,753 in 2024. The company also reported a 6% increase in average subscribers for its Commercial IoT services, which reached 539,283. Despite the overall growth in subscriber numbers, the average revenue per user (ARPU) for Commercial IoT and SPOT services saw slight declines, indicating potential pricing pressures in these segments.
Strategically, Globalstar has made significant advancements in its satellite capabilities. The company entered into agreements with Macdonald, Dettwiler and Associates Corporation (MDA Space) for the procurement of at least 17 replacement satellites, with an expected delivery in 2026. Additionally, Globalstar has partnered with SpaceX for the launch of these satellites, with the first launch anticipated in the first half of 2026. The company also amended its service agreements with Apple Inc., which now require Globalstar to allocate network capacity for expanded services over a new MSS network, enhancing its operational infrastructure.
Looking ahead, Globalstar's management expressed optimism regarding future growth, particularly in the Commercial IoT sector, where they anticipate continued increases in subscriber activations due to the recent launch of new products. The company is also focused on expanding its ground network to support the Extended MSS Network, with construction underway at various global sites. However, the company acknowledged potential risks, including reliance on key customers and the impact of market conditions on its service offerings. Overall, Globalstar aims to leverage its enhanced satellite capabilities and strategic partnerships to drive future revenue growth and improve profitability.
About Globalstar, Inc.
Globalstar, Inc. provides satellite-based mobile voice and data communication services, including wholesale capacity, IoT connectivity, and consumer products. Operating a Low Earth Orbit satellite constellation and terrestrial spectrum licenses, it serves remote, mobile, and government markets worldwide. The company leverages innovative satellite and spectrum technologies to deliver reliable, cost-effective connectivity beyond terrestrial networks, competing in the global MSS and wireless spectrum industries.
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