Globalstar, Inc. (GSAT) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
1351 HOLIDAY SQUARE BLVD., COVINGTON,, LA 70433 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 4899 - Communications Services, Not Elsewhere Classified (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 391,164 | 56,744 | 32,082 | 14,304 | 13,330 | 7,606 | |||
| Cash and cash equivalent | 391,164 | 56,744 | 32,082 | 14,304 | 13,330 | 7,606 | |||
| Restricted cash and investments | 3,625 | 622 | |||||||
| Receivables | 29,452 | 50,943 | 28,029 | 26,782 | 22,147 | 21,760 | |||
| Inventory, net of allowances, customer advances and progress billings | 10,741 | 14,582 | 9,264 | 13,829 | 13,736 | 16,341 | |||
| Inventory | 10,741 | 14,582 | 9,264 | 13,829 | 13,736 | 16,341 | |||
| Contract with customer, asset, after allowance for credit loss | 2,200 | ||||||||
| Other undisclosed current assets | 16,214 | 20,384 | 11,869 | 13,958 | 15,649 | 14,731 | |||
| Total current assets: | 447,571 | 142,653 | 81,244 | 68,873 | 68,487 | 63,260 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 104 | 8 | 19 | 95 | |||||
| Operating lease, right-of-use asset | 31,835 | 34,164 | 30,859 | 32,041 | 14,400 | 15,871 | |||
| Nontrade receivables | 6,300 | 2,300 | 3,100 | ||||||
| Property, plant and equipment | 673,632 | 624,002 | 560,371 | 672,156 | 715,909 | 799,914 | |||
| Long-term investments and receivables | 240 | 1,589 | 2,089 | ||||||
| Long-term investments | 240 | 1,589 | 2,089 | ||||||
| Intangible assets, net (including goodwill) | 115,805 | 91,253 | 30,407 | 30,986 | 27,520 | 25,208 | |||
| Goodwill | 30,600 | 30,600 | |||||||
| Intangible assets, net (excluding goodwill) | 85,205 | 60,653 | 30,407 | 30,986 | 27,520 | 25,208 | |||
| Derivative instruments and hedges | 108,799 | ||||||||
| Restricted cash and investments | 51,068 | 50,900 | |||||||
| Other noncurrent assets | 3,774 | 3,703 | 1,565 | 1,725 | 1,132 | 535 | |||
| Other undisclosed noncurrent assets | 322,521 | 26,234 | 125,745 | 8,077 | 7,969 | 7,718 | |||
| Total noncurrent assets: | 1,262,666 | 781,656 | 752,151 | 745,233 | 819,606 | 902,330 | |||
| TOTAL ASSETS: | 1,710,237 | 924,309 | 833,395 | 814,106 | 888,093 | 965,590 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 29,677 | 28,985 | 62,289 | 35,194 | 28,833 | 32,889 | |||
| Accounts payable | 2,027 | 3,843 | 6,247 | 2,917 | 8,015 | ||||
| Accrued liabilities | 24,700 | 26,958 | 58,446 | 28,947 | 25,916 | 24,874 | |||
| Other undisclosed accounts payable and accrued liabilities | 4,977 | ||||||||
| Deferred revenue | 61,201 | 53,677 | 74,639 | 25,927 | 25,977 | ||||
| Debt | 34,600 | 34,600 | 58,824 | 1,702 | |||||
| Liability for uncertainty in income taxes | 2,300 | ||||||||
| Other liabilities | 394 | 459 | |||||||
| Due to related parties | ✕ | ✕ | ✕ | 326 | 444 | 581 | 261 | ||
| Other undisclosed current liabilities | 13,313 | 58,187 | 59,822 | 28,208 | |||||
| Total current liabilities: | 141,485 | 175,908 | 197,076 | 61,565 | 114,215 | 63,060 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 476,822 | 325,700 | 132,115 | 267,169 | 340,312 | 478,923 | |||
| Long-term debt, excluding current maturities | 476,822 | 325,700 | 132,115 | 237,932 | 326,586 | 464,176 | |||
| Liabilities, other than long-term debt | 733,047 | 43,722 | 189,433 | 119,941 | 10,501 | 16,264 | |||
| Deferred revenue | 288,171 | 3,213 | 157,803 | 112,054 | 3,280 | 5,273 | |||
| Liability, pension and other postretirement and postemployment benefits | 3,650 | 4,128 | |||||||
| Other liabilities | 418,620 | 11,265 | 3,995 | 7,887 | 3,448 | 3,071 | |||
| Operating lease, liability | 26,256 | 29,244 | 27,635 | 29,237 | 13,726 | 14,747 | |||
| Derivative instruments and hedges, liabilities | 123 | 3,792 | |||||||
| Total noncurrent liabilities: | 1,209,869 | 369,422 | 321,548 | 387,110 | 350,813 | 495,187 | |||
| Total liabilities: | 1,351,354 | 545,330 | 518,624 | 448,675 | 465,028 | 558,247 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 358,883 | 378,979 | 314,771 | 365,431 | 423,065 | 407,343 | |||
| Additional paid in capital | 2,473,564 | 2,438,703 | 2,345,612 | 2,146,710 | 2,096,566 | 1,970,047 | |||
| Accumulated other comprehensive income (loss) | 13,452 | 5,070 | 9,242 | 1,890 | (2,944) | (3,449) | |||
| Accumulated deficit | (2,128,146) | (2,064,982) | (2,040,264) | (1,783,349) | (1,670,724) | (1,559,401) | |||
| Other undisclosed equity, attributable to parent | 13 | 188 | 181 | 180 | 167 | 146 | |||
| Total equity: | 358,883 | 378,979 | 314,771 | 365,431 | 423,065 | 407,343 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,710,237 | 924,309 | 833,395 | 814,106 | 888,093 | 965,590 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 250,349 | 223,808 | 148,504 | 124,297 | 128,487 | 131,718 | ||
| Cost of revenue | (197,208) | (177,352) | (160,539) | (145,053) | (138,689) | (144,020) | ||
| Gross profit: | 53,141 | 46,456 | (12,035) | (20,756) | (10,202) | (12,302) | ||
| Operating expenses | (54,090) | (46,621) | (208,994) | (44,747) | (48,961) | (51,744) | ||
| Operating income (loss): | (949) | (165) | (221,029) | (65,503) | (59,163) | (64,046) | ||
| Nonoperating income (expense) | (60,080) | (23,430) | (35,813) | (47,421) | (49,814) | 79,915 | ||
| Investment income, nonoperating | (805) | (1,043) | 2,897 | 145,073 | ||||
| Gain (loss), foreign currency transaction, before tax | (16,609) | 4,862 | (6,592) | (6,308) | (727) | |||
| Interest and debt expense | (14,008) | (10,194) | (3) | (1) | (17,963) | (15,896) | ||
| Other undisclosed income (loss) from continuing operations before equity method investments, income taxes | 17,963 | 15,896 | ||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | (75,037) | (33,789) | (256,845) | (112,925) | (108,977) | 15,869 | ||
| Other undisclosed income from continuing operations before income taxes | 14,008 | 10,194 | 3 | 1 | ||||
| Income (loss) from continuing operations before income taxes: | (61,029) | (23,595) | (256,842) | (112,924) | (108,977) | 15,869 | ||
| Income tax expense (benefit) | (2,135) | (1,123) | (73) | 299 | (662) | (545) | ||
| Income (loss) from continuing operations: | (63,164) | (24,718) | (256,915) | (112,625) | (109,639) | 15,324 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (112,625) | (109,639) | 15,324 | |
| Net income (loss) attributable to parent: | (63,164) | (24,718) | (256,915) | (112,625) | (109,639) | 15,324 | ||
| Other undisclosed net loss available to common stockholders, basic | (10,634) | (10,605) | (1,337) | (126,007) | ||||
| Net loss available to common stockholders, diluted: | (73,798) | (35,323) | (258,252) | (112,625) | (109,639) | (110,683) | ||
Comprehensive Income ($ in thousands)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (63,164) | (24,718) | (256,915) | (112,625) | (109,639) | 15,324 | ||
| Comprehensive income (loss): | (63,164) | (24,718) | (256,915) | (112,625) | (109,639) | 15,324 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 8,382 | (4,172) | 7,352 | 4,834 | 505 | 390 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (54,782) | (28,890) | (249,563) | (107,791) | (109,134) | 15,714 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.