MDA Space<\/b> is delayed with delivery of Globalstar<\/b>\u2019s constellation refresh, pushing the first launch to 2026, Globalstar disclosed Friday. Also in its Q3 investor call, Globalstar CEO Paul Jacobs would not comment on reports of a potential company sale, but highlighted the value of the company\u2019s MSS spectrum. <\/p>\n
Globalstar disclosed in its 10-Q filing that it expects MDA Space to deliver the satellites in early 2026, later than specified in the procurement contract. Globalstar said it is entitled to liquidated damages from MDA Space, but did not disclose the amount. <\/p>\n
Globalstar ordered 17 satellites from MDA Space in February of 2022, with MDA subcontracting Rocket Lab to provide the satellite buses. When the deal was announced, the satellites were expected to launch by the end of 2025. <\/p>\n
Globalstar contracted SpaceX to launch the satellites in two batches, and said in the 10-Q it is working with the launcher to establish an updated window for the first batch because of this delay, expected for the first half of 2026. <\/p>\n
These satellites will serve as a refresh of Globalstar\u2019s current satellites and support Apple\u2019s satellite messaging service, which Globalstar has enabled since 2022. Apple is paying for 95% of the upgraded network expenses. <\/p>\n
Globalstar has been in the news after a Bloomberg report last week that the satellite operator is exploring a potential sale and talked with SpaceX as a potential buyer. <\/p>\n
SpaceX recently paid $17 billion for EchoStar\u2019s mobile satellite service (MSS) spectrum to bolster its direct-to-device (D2D) service, and made an additional $2.6 billion spectrum deal with EchoStar this week. <\/p>\n
CEO Jacobs told investors Friday the company won\u2019t comment on the report as a matter of policy, but he addressed how recent transactions have demonstrated the value of Globalstar\u2019s MSS spectrum, experience in constellation operations, and engineering capabilities. <\/p>\n
\u201cOther participants in the direct-to-device solution space have spent tens of billions to acquire L- and S-band assets that, while useful, lack the global coverage, priority rights, and harmonization with an established hardware ecosystem that defines our portfolio, one that has been deployed for decades by our Globalstar customers,\u201d Jacobs said. <\/p>\n
\u201cGlobalstar holds the critical jigsaw pieces that complete the broader D2D puzzle,\u201d he added. \u201cThis moment is a strategic inflection point that could shape or reshape the future of a rapidly converging communications industry.\u201d <\/p>\n
Globalstar reported record revenue in its Q3 results on Friday of $73.8 million. This consists of $69.6 million of service revenue and $4.2 million of subscriber equipment sales.<\/p>\n
Revenue in Q3 increased 2% year-over-year compared to the same time last year. Globalstar reported a year-over-year increase in revenue from wholesale capacity ($700,000), which is the Apple deal, along with higher commercial IoT service revenue and more consumer IoT equipment sales. <\/p>\n
Net income was $1.1 million for the third quarter of 2025, compared to $9.9 million for the prior year\u2019s third quarter. <\/p>\n
Globalstar reiterated its financial guidance for the year, with revenue expected to be in the range of $260 million to $285 million, and adjusted EBITDA margin of approximately 50%.<\/p>\n","protected":false},"excerpt":{"rendered":"
MDA Space is delayed with delivery of Globalstar\u2019s constellation refresh, pushing the first launch to 2026, Globalstar disclosed Friday. Also in its Q3 investor call, Globalstar CEO Paul Jacobs would not comment on reports of a potential company sale, but highlighted the value of the company\u2019s MSS spectrum. Globalstar disclosed in its 10-Q filing that […]<\/p>\n","protected":false},"author":1,"featured_media":47018,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-48086","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/48086"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=48086"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/48086\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/47018"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=48086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=48086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=48086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}