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Globalstar: Inside the C-3 Constellation Road Map—Will 90 New Antennas Redefine Its Global Reach?

Globalstar Inc.’s financial performance in the third quarter of 2025 highlights several key areas contributing to its business trajectory. The company posted a noteworthy increase in revenue, reaching $73.8 million for the quarter, marking a record achievement and a demonstration of growth over the same period in the previous year. This growth was largely driven by two segments: wholesale capacity services and Commercial IoT. The wholesale capacity services benefited from the timing of service fees tied to network-related cost reimbursements, while the Commercial IoT sector saw a rise in revenue due to a 6% increase in average subscribers, totaling 543,000, and enhanced equipment sales up by 60% year-over-year. Operating income also saw an increase, though net income declined due to noncash factors including higher interest expenses related to the 2024 prepayment agreement and foreign currency losses. However, these were somewhat counterbalanced by a noncash gain from derivative asset adjustments.