Globalstar, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 08:00 am EDT
Share
Globalstar, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 57.68 million compared to USD 37.63 million a year ago. Net loss was USD 6.17 million compared to USD 204.36 million a year ago.
For the nine months, revenue was USD 171.4 million compared to USD 107.2 million a year ago. Net loss was USD 9.64 million compared to USD 251.58 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.14 a year ago.
Globalstar, Inc. is an international telecom infrastructure provider. The Company provides mobile satellite services, including voice and data communications services, as well as wholesale capacity services through its global satellite network. It offers these services over its network of in-orbit satellites and ground stations (gateways) pursuant to its spectrum licenses (collectively, Globalstar System). Its communications services include two-way voice communication and data transmissions via its GSP-1600 and GSP-1700 phone; one-way or two-way communication and data transmissions using mobile devices, including its SPOT family of products; one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station; satellite network access and related services utilizing its satellite spectrum and network of satellites and gateways, and engineering and other communication services using the Globalstar System.
GLOBALSTAR, INC. 
