Globalstar reported second quarter 2026 revenue of $64.8 million, a decrease from $67.1 million in the prior-year period. The company posted a net loss of $26.5 million, or ($0.23) per share, compared to net income of $19.2 million, or $0.13 per share, in the second quarter of 2025. Both revenue and earnings per share missed consensus analyst expectations.
Key Highlights
- The company swung to a loss from operations of $4.8 million from an income of $6.1 million year-over-year, driven by lower service revenue and higher operating expenses, including costs related to the pending Amazon transaction.
- Despite the overall revenue decline, Globalstar achieved record high Commercial IoT subscriber activations, which contributed to an over 20% increase in gross activations on a last-twelve-month basis.
- The pending merger with Amazon is progressing, with the HSR waiting period having expired in July. The company now expects the transaction to close in 2027, subject to remaining regulatory approvals.