Globalstar, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 05, 2022 at 05:03 pm EDT
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Globalstar, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported revenue was USD 32.77 million compared to USD 26.93 million a year ago. Net loss was USD 20.46 million compared to USD 36.33 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.02 a year ago.
Globalstar, Inc. provides mobile satellite services (MSS) including voice and data communications services through its global satellite network. The Company offers voice and data communication services over its network of in-orbit satellites and its active ground stations (gateways), which it refers to as the Globalstar System. In addition to supporting Internet of things (IoT) data transmissions in a variety of applications, it provides connectivity in areas not served or underserved by terrestrial wireless and wireline networks. It offers two-way voice communication and data transmission via the GSP-1600 and GSP-1700 phones (Duplex). The Company offers one-way or two-way communications and data transmissions using mobile devices, including the SPOT family of products, such as SPOT X , SPOT Gen4 and SPOT Trace, that transmit messages and the location of the device (SPOT). It also provides satellite network access and related services.