Q2 26 EPS GAAP
$-0.23
MISS 155.56%
Est. $-0.09
Includes $20.7 million net interest expense (including non-cash imputed interest on 2024 Prepayment Agreement), $1.4 million foreign currency loss, $4.2 million noncash gain on contingent interest feature within 2024 Debt Repayment, and $10.3 million in Amazon transaction costs
Q2 26 Revenue
$64.8M
MISS 11.23%
Est. $73.0M
vs S&P Since Q2 26
-0.1%
TRAILING MARKET
GSAT -0.1% vs S&P +0.0%
Market Reaction
Did GSAT Beat Earnings? Q2 2026 Results
Globalstar delivered a sharply disappointing second quarter, missing on both the top and bottom lines as merger-related costs and weaker wholesale revenue weighed heavily on results. The satellite communications company reported Q2 2026 revenue of $6… Read more Globalstar delivered a sharply disappointing second quarter, missing on both the top and bottom lines as merger-related costs and weaker wholesale revenue weighed heavily on results. The satellite communications company reported Q2 2026 revenue of $64.77 million, falling 3.5% from a year ago and coming in 11.23% below the $72.96 million consensus, while GAAP EPS of $-0.23 missed the $-0.09 analyst estimate by 155.56%, with the reported figure reflecting $20.7 million in net interest expense, $10.3 million in Amazon transaction costs, a $1.4 million foreign currency loss, and a partially offsetting $4.2 million noncash gain on a contingent interest feature. The revenue shortfall was meaningfully shaped by a tough prior-year comparison, as Q2 2025 had included $6.60 million in out-of-period wholesale capacity services revenue. Net loss widened to $26.54 million from net income of $19.21 million a year ago, and Adjusted EBITDA fell to $25.95 million from $35.79 million. With the company continuing to suspend guidance and conference calls pending its proposed Amazon merger, which cleared its HSR waiting period in July 2026 and remains on track to close in 2027, investors are left watching satellite milestones and regulatory approvals rather than forward financial targets.
Key Takeaways
- • Record high Commercial IoT subscriber activations with over 20% increase in gross activations on LTM basis
- • Commercial IoT average subscribers grew to 580,427 from 534,505 year-over-year
- • Subscriber equipment sales increased 21% driven by Commercial IoT device volume and XCOM RAN system sales
- • Q2 2025 included $6.6 million out-of-period wholesale capacity services revenue that did not recur
- • Higher MG&A expenses from Amazon transaction-related legal and professional fees
- • Increased network operating costs for next-generation ground network infrastructure build-out
GSAT Forward Guidance & Outlook
Globalstar has suspended forward-looking guidance and earnings conference calls in connection with the pending merger transaction with Amazon. The Amazon transaction is expected to close in 2027, subject to remaining regulatory approvals (including FCC and international authorities) and achievement of certain HIBLEO-4 replacement satellite milestones. The first set of replacement satellites is scheduled for launch later in August 2026.
GSAT YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
GSAT Revenue by Segment
With YoY comparisons, source: SEC Filings
“During the second quarter, we remained focused on disciplined execution across our business while continuing to invest in the technologies and infrastructure that support our long-term strategy.”
— Paul E. Jacobs, Q2 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
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS Includes $20.7 million net interest expense (including non-cash imputed interest on 2024 Prepayment Agreement), $1.4 million foreign currency loss, $4.2 million noncash gain on contingent interest feature within 2024 Debt Repayment, and $10.3 million in Amazon transaction costs | $-0.09 | $-0.23 | -155.56% | $64.8M | -11.23% |
| Q1 26 MISS FY | $-0.01 | $-0.16 | -2,185.71% | $70.1M | -0.71% |
| FY Full Year | $0.34 | — | — | — | — |
| Q4 25 MISS FY | $0.01 | $-0.11 | -885.71% | $72.0M | +1.87% |
| FY Full Year | — | $-0.15 | — | $273.0M | — |
| 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 MISS | $-0.07 | $-0.16 | -128.57% | $60.0M | -5.95% |