Globalstar, Inc. (GSAT) financial statements: income statement, balance sheet and cash flow
Globalstar, Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Globalstar, Inc. reported revenue of $273.0M (+9.0% year on year) and net income of ($19.3M) (+73.9% year on year).
Income statement
Globalstar, Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Total revenue
$273.0M
$250.3M
$223.8M
$148.5M
Cost of goods and services
$96.1M
$82.4M
$69.5M
$56.5M
Cost of subscriber equipment sales - reduction in the value of inventory
$0
$327.0K
$0
$8.6M
Marketing, general and administrative
$51.4M
$43.4M
$43.5M
$44.1M
Stock-based compensation
$23.4M
$35.5M
$22.5M
—
Reduction in the value and disposal of long-lived assets
$7.2M
$556.0K
$363.0K
$166.5M
Depreciation, amortization and accretion
$87.4M
$89.0M
$88.2M
$93.9M
Total operating expenses
$265.6M
$251.3M
$224.0M
$369.5M
Income (loss) from operations
$7.4M
($949.0K)
($165.0K)
($221.0M)
Loss on extinguishment of debt
$0
($27.4M)
($10.4M)
—
Loss on equity issuance
$0
$0
($5.0M)
—
Interest income and expense, net of amounts capitalized
($40.9M)
($13.6M)
($14.6M)
($30.2M)
Foreign currency gain (loss)
$15.7M
($16.6M)
$4.9M
($6.6M)
Derivative gain (loss) and other income (expense)
$15.0M
($2.5M)
$1.7M
$463.0K
Total other expense
($10.2M)
($60.1M)
($23.4M)
($35.8M)
Loss before income taxes
($2.8M)
($61.0M)
($23.6M)
($256.8M)
Income tax expense
$5.9M
$2.1M
$1.1M
$73.0K
Net loss
($8.7M)
($63.2M)
($24.7M)
($256.9M)
Net loss attributable to common shareholders (Note 14)
($19.3M)
($73.8M)
($35.3M)
($258.3M)
Basic (in dollars per share)
-$0.15
-$0.59
-$0.02
-$0.14
Diluted (in dollars per share)
-$0.15
-$0.59
-$0.02
-$0.14
Basic (in shares)
126.8M
125.9M
1.8B
1.8B
Diluted (in shares)
126.8M
125.9M
1.8B
1.8B
Globalstar, Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Total revenue
$64.8M
$70.1M
$73.8M
$67.1M
Cost of goods and services
$27.0M
$25.9M
$25.6M
$22.4M
Marketing, general and administrative
$23.0M
$14.8M
$11.3M
$9.7M
Stock-based compensation
$2.7M
$2.7M
$4.9M
$5.9M
Reduction in the value and disposal of long-lived assets
$0
$64.0K
$115.0K
$0
Depreciation, amortization and accretion
$16.8M
$18.4M
$21.7M
$23.0M
Total operating expenses
$69.5M
$61.9M
$63.7M
$61.0M
(Loss) income from operations
($4.8M)
$8.2M
$10.2M
$6.1M
Interest income and expense, net of amounts capitalized
($20.7M)
($19.8M)
($11.0M)
($7.4M)
Foreign currency (loss) gain
($1.4M)
($1.6M)
($588.0K)
$12.0M
Gain on contingent interest feature within the 2024 Debt Repayment
$4.2M
—
—
—
Derivative gain and other income
$0
($2.6M)
$3.7M
$6.7M
Total other (expense) income
($17.9M)
($24.0M)
($8.0M)
$11.2M
(Loss) income before income taxes
($22.6M)
($15.8M)
$2.2M
$17.4M
Income tax expense (benefit)
$3.9M
$1.6M
$1.1M
($1.8M)
Net (loss) income
($26.5M)
($17.4M)
$1.1M
$19.2M
Foreign currency translation adjustments
$1.3M
$2.0M
$1.0M
($7.6M)
Comprehensive (loss) income
($25.2M)
($15.4M)
$2.1M
$11.6M
Net (loss) income attributable to common shareholders (Note 12)
($29.2M)
($20.0M)
($1.6M)
$16.6M
Basic (in dollars per share)
-$0.23
-$0.16
-$0.01
$0.13
Diluted (in dollars per share)
-$0.23
-$0.16
-$0.01
$0.13
Basic (in shares)
129.1M
128.4M
126.7M
126.6M
Diluted (in shares)
129.1M
128.4M
126.7M
127.9M
Balance sheet
Globalstar, Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$447.5M
$391.2M
$56.7M
$32.1M
Accounts receivable, net of allowance for credit losses of $1,468 and $1,504, respectively
$20.0M
$27.0M
$48.7M
$26.3M
Inventory
$9.6M
$10.7M
$14.6M
$9.3M
Prepaid expenses and other current assets
$19.7M
$18.7M
$22.6M
$13.6M
Total current assets
$496.7M
$447.6M
$142.7M
$81.2M
Property and equipment, net
$1.3B
$673.6M
$624.0M
$560.4M
Operating lease right of use assets, net
$66.7M
$31.8M
$34.2M
$30.9M
Prepaid network costs
$198.4M
$312.3M
—
—
Derivative asset
$114.5M
$108.8M
—
—
Intangible and other assets, net of accumulated amortization of $12,511 and $7,625, respectively
$144.5M
$136.1M
$111.0M
$38.4M
Total assets
$2.3B
$1.7B
$924.3M
$833.4M
Current portion of long-term debt
$31.8M
$34.6M
$34.6M
—
Accounts payable and accrued expenses
$56.0M
$29.7M
—
—
Accrued network construction costs
$55.2M
$15.6M
$58.2M
—
Payables to affiliates
$391.0K
$394.0K
$459.0K
$326.0K
Deferred revenue, net
$62.0M
$61.2M
$53.7M
$74.6M
Total current liabilities
$205.5M
$141.5M
$175.9M
$197.1M
Long-term debt
$452.0M
$476.8M
$325.7M
$132.1M
Operating lease liabilities
$54.5M
$26.3M
$29.2M
$27.6M
Deferred revenue, net
$806.9M
$288.2M
$3.2M
$157.8M
Other non-current liabilities
$451.6M
$418.6M
$11.3M
$4.0M
Total non-current liabilities
$1.8B
$1.2B
$369.4M
$321.5M
Total liabilities
$2.0B
$1.4B
—
—
Preferred stock
$0
$0
$0
$0
Common stock
$13.0K
$13.0K
$188.0K
$181.0K
Additional paid-in capital (1)
$2.5B
$2.5B
$2.4B
$2.3B
Accumulated other comprehensive income
$3.3M
$13.5M
$5.1M
$9.2M
Retained deficit
($2.1B)
($2.1B)
($2.1B)
($2.0B)
Total stockholders’ equity
$355.7M
$358.9M
$379.0M
$314.8M
Total liabilities and stockholders’ equity
$2.3B
$1.7B
$924.3M
$833.4M
Globalstar, Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$409.8M
$358.4M
$346.3M
$308.2M
Accounts receivable, net of allowance for credit losses of $1,390 and $1,468, respectively
$20.5M
$19.8M
$26.0M
$24.8M
Inventory
$10.9M
$10.1M
$11.4M
$11.5M
Prepaid expenses and other current assets
$22.2M
$18.3M
$17.3M
$18.9M
Total current assets
$463.5M
$406.5M
$401.0M
$363.4M
Property and equipment, net
$1.5B
$1.4B
$1.2B
$900.8M
Operating lease right of use assets, net
$65.2M
$67.0M
$67.4M
$60.5M
Prepaid network costs
$227.1M
$217.8M
$220.6M
$324.1M
Derivative asset
$0
$111.9M
$120.8M
$117.2M
Intangible and other assets, net of accumulated amortization of $15,747 and $12,511, respectively
$145.7M
$145.5M
$143.3M
$143.1M
Total assets
$2.4B
$2.4B
$2.2B
$1.9B
Current portion of long-term debt
$51.4M
$42.4M
$23.5M
$22.7M
Accounts payable and accrued expenses
$120.8M
$72.6M
$45.2M
$39.0M
Accrued network construction costs
$71.1M
$84.3M
$27.9M
$16.0M
Payables to affiliates
$353.0K
$176.0K
$175.0K
$315.0K
Deferred revenue, net
$56.2M
$54.0M
$61.6M
$51.2M
Total current liabilities
$299.9M
$253.5M
$158.4M
$129.2M
Long-term debt
$307.4M
$432.2M
$485.1M
$468.8M
Operating lease liabilities
$53.0M
$54.3M
$56.2M
$51.4M
Deferred revenue, net
$1.0B
$837.7M
$672.8M
$473.3M
Other non-current liabilities
$462.5M
$457.0M
$425.1M
$425.5M
Total non-current liabilities
$1.9B
$1.8B
$1.6B
$1.4B
Total liabilities
$2.2B
$2.0B
$1.8B
$1.5B
Series A Perpetual Preferred Stock of $0.0001 par value; 300,000 shares authorized and 149,425 issued and outstanding at June 30, 2026 and December 31, 2025, respectively
0
0
0
0
Voting Common Stock of $0.0001 par value; 143,333,334 shares authorized; 129,562,435 and 128,050,400 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively
13.0K
13.0K
13.0K
13.0K
Additional paid-in capital
$2.5B
$2.5B
$2.5B
$2.5B
Accumulated other comprehensive income
$6.7M
$5.3M
$4.0M
$3.0M
Retained deficit
($2.2B)
($2.2B)
($2.1B)
($2.1B)
Total stockholders’ equity
$292.6M
$342.8M
$364.8M
$360.9M
Total liabilities and stockholders’ equity
$2.4B
$2.4B
$2.2B
$1.9B
Cash flow statement
Globalstar, Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net loss
($8.7M)
($63.2M)
($24.7M)
($256.9M)
Depreciation, amortization and accretion
$87.4M
$89.0M
$88.2M
$93.9M
Stock-based compensation expense
$23.4M
$35.5M
$22.5M
$10.8M
Reduction in the value and disposal of long-lived assets and inventory
$7.2M
—
—
—
Noncash interest and accretion expense
$49.9M
$6.5M
$14.7M
$29.7M
Noncash portion of loss on extinguishment of debt
$0
$14.0M
$10.2M
($2.8M)
Loss on equity issuance
$0
$0
$5.0M
—
Noncash expenses associated with SSA, net of amortization
$4.1M
$7.7M
$3.1M
—
Unrealized foreign currency (gain) loss
($15.8M)
$16.7M
($5.0M)
$6.6M
Other, net
($17.3M)
($657.0K)
($816.0K)
($2.6M)
Accounts receivable
$7.5M
$26.7M
$12.7M
($1.0M)
Inventory
$1.5M
$2.8M
($4.2M)
($2.4M)
Prepaid expenses and other current assets
($1.5M)
($856.0K)
($3.2M)
$952.0K
Other assets
($1.1M)
$294.0K
$610.0K
($183.0K)
Accounts payable and accrued expenses
$1.1M
($1.4M)
($3.4M)
($11.4M)
Payables to affiliates
($3.0K)
($65.0K)
$133.0K
($118.0K)
Other non-current liabilities
$2.4M
$3.6M
($53.0K)
($2.6M)
Deferred revenue
$481.5M
$301.8M
($38.6M)
$23.1M
Net cash provided by operating activities
$621.6M
$439.2M
$74.3M
$63.8M
Payments for network upgrades to support the Phase 1 and Phase 2 Service Period
($97.1M)
—
($135.9M)
($14.0M)
Payments for network upgrades to support the Extended MSS Network
($442.3M)
($131.7M)
—
—
Payments of capitalized interest
$0
($10.0M)
($8.8M)
—
Payments for network upgrades to support product development
($5.5M)
($6.8M)
($6.9M)
($7.1M)
Purchase of intangible assets
($5.5M)
($6.8M)
($1.1M)
($643.0K)
Net cash used in investing activities
($550.4M)
($260.6M)
($175.6M)
($40.0M)
Proceeds from 2023 Funding Agreement
$27.1M
$37.7M
$117.3M
—
Principal payments of 2021 Funding Agreement
($34.6M)
($34.6M)
($12.5M)
—
Dividends paid on Series A Preferred Stock
($10.6M)
($10.6M)
($11.9M)
—
Proceeds from issuance of Customer Class B units
$0
$176.2M
$0
$0
Proceeds from issuance of 2024 Debt Repayment
$0
$221.6M
$0
$0
Principal and make-whole payment of 2023 13% Notes
$0
($234.9M)
—
—
Principal and interest payments of the 2019 Facility Agreement
$0
$0
($148.3M)
($6.3M)
Proceeds from 2023 13% Notes
$0
$0
$190.0M
—
Payments for debt and equity issuance costs
$0
$0
($8.6M)
($626.0K)
Proceeds from issuance of common stock and exercise of options
$1.9M
$1.8M
—
$919.0K
Net cash (used in) provided by financing activities
($16.2M)
$157.2M
$125.8M
($6.0M)
Effect of exchange rate changes on cash and cash equivalents
$1.2M
($1.4M)
$140.0K
($22.0K)
Net increase in cash and cash equivalents
$56.3M
$334.4M
$24.7M
$17.8M
Cash and cash equivalents, beginning of period
$391.2M
$56.7M
$32.1M
$14.3M
Cash and cash equivalents, end of period
$447.5M
$391.2M
$56.7M
—
Interest
$0
$15.7M
$13.5M
$0
Increase in capitalized accrued interest including in accrued expenses and deferred revenue
$34.0M
$8.1M
$5.6M
$12.2M
Network construction assets included in accrued expenses
$55.2M
$15.6M
$58.2M
$36.1M
Fair value of common stock issued
$0
$7.5M
$70.4M
—
Construction in progress assets acquired through XCOM SSA
$1.8M
$6.1M
$2.8M
—
Globalstar, Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net (loss) income
($41.4M)
($17.4M)
$3.0M
$1.9M
Depreciation, amortization and accretion
$35.2M
$18.4M
$67.0M
$45.3M
Stock-based compensation expense
$5.4M
$2.7M
$17.8M
$12.9M
Noncash interest and accretion expense
$46.2M
$23.0M
$30.7M
$17.3M
Unrealized foreign currency loss (gain)
$3.1M
$1.7M
($15.6M)
($16.2M)
Reduction in the value and disposal of long-lived assets and inventory
$64.0K
$64.0K
$7.2M
—
Other, net
($1.3M)
$4.1M
($9.2M)
($5.9M)
Accounts receivable
($501.0K)
$414.0K
$1.7M
$5.1M
Inventory, prepaid expenses and other assets
($4.7M)
$943.0K
($780.0K)
($4.1M)
Accounts payable and accrued expenses
$3.3M
$1.4M
$6.6M
($172.0K)
Other non-current liabilities
$877.0K
$336.0K
($2.7M)
$988.0K
Deferred revenue
$113.5M
($340.0K)
$340.2M
$145.6M
Net cash provided by operating activities
$159.8M
$35.2M
$445.8M
$209.7M
Payments for network upgrades to support the Phase 1 and Phase 2 Service Period
($30.5M)
($4.5M)
($94.3M)
($41.8M)
Payments for network upgrades to support the Extended MSS Network
($171.9M)
($108.8M)
($383.4M)
($223.7M)
Payments for network upgrades to support product development
($3.1M)
($1.5M)
($4.2M)
($2.8M)
Purchase of intangible assets
($2.9M)
($1.7M)
($4.0M)
($3.5M)
Net cash used in investing activities
($208.3M)
($116.4M)
($485.9M)
($271.8M)
Proceeds from 2023 Funding Agreement
$19.9M
—
$27.1M
$0
Principal payments of 2021 Funding Agreement
($6.3M)
($6.3M)
($25.9M)
($17.3M)
Dividends paid on Series A Preferred Stock
($5.3M)
($2.6M)
($7.9M)
($5.3M)
Proceeds from issuance of common stock and exercise of options and other
$2.2M
$829.0K
$651.0K
$535.0K
Net cash provided by (used in) financing activities
$10.6M
($8.0M)
($6.1M)
($22.0M)
Effect of exchange rate changes on cash and cash equivalents
$289.0K
$211.0K
$1.3M
$1.1M
Net decrease in cash and cash equivalents
($37.7M)
($89.0M)
($44.9M)
($82.9M)
Cash and cash equivalents, beginning of period
$447.5M
$447.5M
$391.2M
$391.2M
Cash and cash equivalents, end of period
$409.8M
$358.4M
$346.3M
$308.2M
Increase in capitalized accrued interest including in accrued expenses and deferred revenue
$21.3M
$9.0M
—
—
Network construction assets included in accrued expenses
$71.1M
$84.3M
$27.9M
$16.0M
Derecognition of embedded derivative asset within the 2024 Debt Repayment upon adoption of ASU 2025-07
$114.5M
—
—
—
Construction in progress assets acquired through XCOM SSA