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Globalstar’s $305 Million Revenue Target — Is A Bigger Satellite Growth Cycle Starting?

Globalstar Inc. reported record full-year 2025 revenue of $273 million, marking a 9% increase over 2024 and continuing its streak of four consecutive years of revenue growth. Service revenue rose 8% to $257.3 million, primarily driven by increased wholesale capacity services, while subscriber equipment revenue grew 24% to $15.7 million, reflecting a higher volume of commercial IoT device sales. In the fourth quarter, total revenue reached $72 million with service revenue up 17% and equipment sales rising 31% year-over-year. The revenue gains were mainly attributed to wholesale capacity services, commercial IoT subscriber growth, device sales, and contributions from a government partnership with Parsons, partially offset by churn in Duplex and SPOT subscribers and lower sales of the XCOM RAN product. Profitability improved with income from operations of $7.