Short answer
Globalstar, Inc. (GSAT) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $273M (+9.0% year over year) and net income of −$9M.
- Top risk flagged: Geopolitical risk from international markets, with 25 employees in Brazil under collective bargaining agreements
FY2025 key financial metrics · XBRL
- Revenue
- $273M
- +9.0% YoY
- Net income
- −$9M
- +86.3% YoY
- Operating margin
- 2.7%
- +3.1 pp YoY
- EPS (diluted)
- −$0.15
- +74.6% YoY
- ROE
- -2.4%
- +15.2 pp YoY
- Operating cash flow
- $622M
- +41.5% YoY
Source: XBRL data from the Globalstar, Inc. (GSAT) FY2025 10-K on SEC EDGAR. USD.
Globalstar, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Satellite-based communications and data services
- No new products or segments introduced or emphasized in 2026 filing
- Continued focus on contractual agreements, equity incentive plans, and amendments related to satellite procurement and financial instruments
- Executives and directors reaffirm authority, including Power of Attorney to Dr. Paul E. Jacobs and Rebecca S. Clary as of February 27, 2026
- Extensive incorporation by reference to Proxy Statement for executive compensation, security ownership, related transactions, and accounting firm information for 2026 Annual Meeting
Management Discussion & Analysis
- Preferred Stock: 149,425 shares Series A 7.0% perpetual preferred outstanding, liquidation preference $1,000/share
- Dividends: 7.0% annual fixed rate on Series A preferred, paid quarterly; no common stock dividends paid or planned
Risk Factors
- Geopolitical risk from international markets, with 25 employees in Brazil under collective bargaining agreements
- Intellectual property risk from reduced foreign patent filings and lapsing patents due to high maintenance costs abroad
- Seasonality risk with peak service revenues April-October and event-driven revenue fluctuations from emergencies and natural disasters
- Competitive risk from reliance on satellite MSS service revenues accounting for 94% of total revenues in 2025
- Employee-related operational risk with 477 employees across 15 countries, exposing to diverse labor and employment laws compliance
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