Globalstar (GSAT) financial statements
Globalstar reported revenue of $273M in fiscal 2025, up 12.2% a year over 9 years.
Net income was -$9M and the operating margin 2.7%, against -65.3% in 2016.
Free cash flow was $622M, and the company returned $11M in dividends.
The diluted share count rose 79% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Globalstar's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $97M | $113M | $130M | $132M | $128M | $124M | $149M | $224M | $250M | $273M |
| Cost of revenue | $10M | $10M | — | — | — | — | — | — | — | — |
| Gross profit | $87M | $103M | — | — | — | — | — | — | — | — |
| Research and development | $2M | $4M | $3M | $3M | $2M | $1M | $500,000 | $1M | $6M | $6M |
| Selling, general and admin | $41M | $39M | $55M | $45M | $42M | $35M | $33M | $43M | $43M | $51M |
| Operating income | -$63M | -$68M | -$47M | -$64M | -$59M | -$66M | -$221M | -$165,000 | -$949,000 | $7M |
| Pre-tax income | -$139M | -$89M | -$6M | $16M | -$109M | -$113M | -$257M | -$24M | -$61M | -$3M |
| Income tax | -$7M | $190,000 | $125,000 | $545,000 | $662,000 | -$299,000 | $73,000 | $1M | $2M | $6M |
| Net income | -$133M | -$89M | -$7M | $15M | -$110M | -$113M | -$257M | -$25M | -$63M | -$9M |
| EPS (diluted) | -$1.80 | -$1.20 | -$0.15 | -$1.05 | -$1.05 | -$0.90 | -$2.15 | -$0.29 | -$0.59 | -$0.15 |
| Diluted shares | 71M | 78M | 85M | 110M | 109M | 118M | 120M | 122M | 126M | 127M |
| Gross margin | 89.8% | 91.2% | — | — | — | — | — | — | — | — |
| Operating margin | -65.3% | -60.8% | -36.4% | -48.6% | -46.0% | -52.7% | -148.8% | -0.1% | -0.4% | 2.7% |
| Net margin | -136.9% | -79.1% | -5.0% | 11.6% | -85.3% | -90.6% | -173.0% | -11.0% | -25.2% | -3.2% |
Balance sheet
Fiscal years, from Globalstar's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10M | $42M | $15M | $8M | $13M | $14M | $32M | $57M | $391M | $447M |
| Receivables | $15M | $17M | $19M | $22M | $22M | $21M | $26M | $49M | $27M | $20M |
| Inventory | $8M | $7M | $14M | $16M | $14M | $14M | $9M | $15M | $11M | $10M |
| Total current assets | $38M | $136M | $123M | $63M | $68M | $69M | $81M | $143M | $448M | $497M |
| Property, plant and equipment | $1.0B | $971M | $883M | $800M | $716M | $672M | $560M | $624M | $674M | $1.3B |
| Goodwill | — | — | — | — | — | — | — | $31M | $31M | $31M |
| Total assets | $1.1B | $1.1B | $1.0B | $966M | $888M | $814M | $738M | $924M | $1.7B | $2.3B |
| Total current liabilities | $172M | $160M | $160M | $63M | $114M | $62M | $197M | $176M | $141M | $205M |
| Long-term debt | $501M | $435M | $367M | $464M | $327M | $238M | $132M | $326M | $477M | $452M |
| Total liabilities | $971M | $838M | $687M | $967M | $465M | $449M | $424M | $545M | $1.4B | $2.0B |
| Shareholders' equity | $162M | $291M | $359M | $407M | $423M | $365M | $315M | $379M | $359M | $356M |
| Net debt | $566M | $472M | $448M | $457M | $372M | $224M | $100M | $304M | $120M | $36M |
Cash flow
Fiscal years, from Globalstar's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9M | $14M | $6M | $3M | $22M | $132M | $64M | $74M | $439M | $622M |
| Capital spending | $9M | $6M | $7M | $5M | — | $395,000 | $0 | $9M | $10M | $0 |
| Free cash flow | -$572,000 | $8M | -$1M | -$2M | — | $131M | $64M | $66M | $429M | $622M |
| Stock-based compensation | $5M | $5M | $7M | $6M | $6M | $7M | $11M | $22M | $36M | $23M |
| Dividends paid | — | — | — | — | — | $0 | $0 | $12M | $11M | $11M |
| Free cash flow margin | -0.6% | 7.4% | -1.1% | -1.2% | — | 105.8% | 43.0% | 29.3% | 171.4% | 227.7% |
| Dividends per share | — | — | — | — | — | — | — | $0.10 | $0.08 | $0.08 |
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Open GSAT in InvestinglyQuestions
What was Globalstar's revenue in 2025?
$273M in fiscal 2025, from its 10-K filing.
How much free cash flow does Globalstar generate?
$622M in fiscal 2025 (operating cash flow minus capital spending).
From Globalstar's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.