GSAT Q1 2026 Earnings
Reported Feb 27, 2026 at 3:15 AM ET · SEC Source
Q1 26 EPS
$-0.11
MISS 885.71%
Est. $0.01
Q1 26 Revenue
$72.0M
vs S&P Since Q1 26
+43.9%
BEATING MARKET
GSAT +49.0% vs S&P +5.1%
Market Reaction
Did GSAT Beat Earnings? Q1 2026 Results
Globalstar delivered a mixed first-quarter picture for fiscal 2026, posting revenue of $71.96 million, up 17.6% year-over-year, but falling well short on the bottom line, with a loss of $0.11 per share against a consensus estimate of $0.01, a miss of… Read more Globalstar delivered a mixed first-quarter picture for fiscal 2026, posting revenue of $71.96 million, up 17.6% year-over-year, but falling well short on the bottom line, with a loss of $0.11 per share against a consensus estimate of $0.01, a miss of 885.71%. The headline earnings gap was largely shaped by a sharp rise in interest expense, which climbed to $14.52 million from $3.26 million in the prior-year period, driven by non-cash imputed interest tied to the company's 2024 Prepayment Agreement. On the revenue side, wholesale capacity services led the charge, surging to $46.29 million as performance bonuses and network-related cost reimbursements bolstered the top line, while early traction in government and defense contracts signaled that Globalstar's pivot toward high-value satellite infrastructure is gaining momentum. Looking ahead, management guided 2026 revenue between $280 million and $305 million with an Adjusted EBITDA margin of approximately 50%, framing the current investment cycle as a foundation for durable growth.
Key Takeaways
- • Performance bonuses earned during Q4 2025 from wholesale capacity services
- • Higher wholesale capacity services revenue from additional service fees for network-related cost reimbursement
- • Commercial IoT average subscribers increased 6% year-over-year
- • IoT hardware sales revenue and gross activations each grew 50% year-over-year
- • Government and other services revenue growth driven by Parsons Corporation engagement moving beyond proof of concept
GSAT Forward Guidance & Outlook
For 2026, Globalstar guided total revenue between $280 million and $305 million with an Adjusted EBITDA margin of approximately 50%. The company expects to move from groundwork to growth, with replacement 2nd generation satellites rolling off the production line, continued progress on regulatory and network infrastructure initiatives, commercial rollout of two-way IoT capabilities, and growing traction for XCOM RAN.
GSAT YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
GSAT Revenue by Segment
With YoY comparisons, source: SEC Filings
“2025 was a transformational year for Globalstar. We advanced our strategy across every dimension of the business: from global infrastructure expansion to product innovation and growing commercial adoption across government, enterprise, and industrial markets. We expanded our addressable markets and validated technologies that position us at the center of next-generation satellite and private wireless connectivity. Throughout the year, we have made significant progress with our satellite and ground station partners and are now poised to deploy not only the satellites to replenish our existing constellation but also extend our reach with our third-generation system.”
— Paul E. Jacobs, Q1 2026 Earnings Press Release
GSAT Earnings Trends
GSAT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
GSAT EPS Trend
Earnings per share: estimate vs actual
GSAT Revenue Trend
Quarterly revenue: estimate vs actual
GSAT Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS FY | $0.01 | $-0.11 | -885.71% | $72.0M | — |
| FY Full Year | $0.34 | — | — | — | — |
| Q3 25 BEAT | $-0.03 | $-0.01 | +66.67% | $73.8M | +7.12% |
| Q2 25 BEAT | $-0.09 | $0.13 | +244.44% | $67.1M | +6.35% |
| Q1 25 | — | $-0.16 | — | $60.0M | — |