Globalstar, Inc. reported a total revenue of $70.1 million for the first quarter of 2026, marking a 17% increase from $60.0 million in the same period of 2025. The growth was primarily driven by a 26% rise in wholesale capacity services revenue, which reached $46.3 million, up from $36.7 million a year earlier. Service revenue accounted for 96% of total revenue, with subscriber equipment sales contributing the remaining 4%. Despite the revenue increase, the company recorded a net loss of $17.4 million, slightly higher than the $17.3 million loss reported in the prior year.
Operating expenses decreased to $61.9 million from $68.5 million year-over-year, largely due to the absence of a significant noncash loss on asset disposal that occurred in the first quarter of 2025. However, costs associated with network operations and personnel increased, reflecting ongoing investments in infrastructure and service capabilities. The company also noted a rise in marketing, general, and administrative expenses, attributed to higher personnel costs and legal fees related to the pending merger with Amazon.
As of March 31, 2026, Globalstar had approximately 797,000 mobile satellite service (MSS) subscribers, an increase from 776,000 in the previous year. The company’s subscriber base includes 565,844 Commercial IoT users, 211,115 SPOT users, and 16,786 Duplex users. Average revenue per user (ARPU) for Commercial IoT increased to $4.39, while SPOT and Duplex ARPU remained relatively stable. The company continues to focus on expanding its subscriber base and enhancing service offerings, particularly in the Commercial IoT sector.
In a significant strategic development, Globalstar entered into a merger agreement with Amazon on April 13, 2026, which is expected to close in 2027, subject to regulatory approvals. This merger is anticipated to enhance Globalstar's operational capabilities and market reach. The company has also amended its service agreements with Apple Inc. to support expanded services over a new mobile satellite network, which includes a new satellite constellation and upgraded ground infrastructure. As part of its ongoing initiatives, Globalstar is investing in the construction of new gateways and upgrading existing ones to support the Extended MSS Network.
Looking ahead, Globalstar expects to continue leveraging its satellite network to meet growing demand for mobile satellite services. The company is focused on achieving operational milestones related to its satellite launches and service expansions, which are critical for the successful execution of its merger with Amazon and the realization of anticipated benefits from the Updated Services Agreements.
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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