NASDAQ$GSAT
Globalstar · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported a significant improvement in profitability driven by a 53% increase in total revenue.
Globalstar announced its Q3 2023 results, marked by a 53% increase in total revenue and a 125% increase in Adjusted EBITDA compared to the same quarter last year. The company is increasing its full year 2023 total revenue guidance to a range between $215 and $230 million.
- Total revenue increased by 53% to $57.7 million compared to Q3 2022, driven by higher service revenue.
- Adjusted EBITDA increased by 125% to $32.0 million compared to the prior year's quarter.
- Commercial IoT revenue increased by 36% from the third quarter of 2022.
- Net loss was $6.2 million, compared to a net loss of $204.4 million for the third quarter of 2022.
Headline financials
Revenue & EPS history
Globalstar · Revenue · Quarterly
$57.7M
Revenue by segment
Globalstar · $53.2M total across 4 segments · Q3 2023
- Wholesale Capacity$27.5M+294.7%51.7%
- SPOT$11.4M-3.4%21.3%
- Duplex$7.98M-11.6%15.0%
- Commercial IoT$6.35M+35.8%11.9%
Forward guidance
Globalstar updated its financial guidance for full year 2023, excluding revenue from terrestrial spectrum opportunities.
Tailwinds
- Total revenue between $215 million and $230 million, representing approximately 45% to 55% increase over 2022 total revenue.
- Adjusted EBITDA margin of approximately 55%, compared to 39% in 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
-0.3%
Avg return
Earnings day
+1.2%
Avg return
5 days after
+4.8%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+24.0%
Q4 2021
Best reaction
-18.0%
Q3 2011
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | +0.8% | -0.6% | |
| Q4 2025 | +7.5% | +5.9% | +10.9% | |
| Q3 2025 | +4.6% | +33.4% | +41.9% | |
| Q1 2025 | -12.9% | -7.6% | -1.4% | |
| Q4 2024 | +0.1% | +7.1% | -1.3% | |
| Q3 2024 | +6.5% | +2.2% | +18.8% | |
| Q2 2024 | +7.3% | +11.0% | +14.7% | |
| Q1 2024 | -6.2% | -9.3% | -15.5% | |
| Q4 2023 | -10.3% | -20.1% | -15.5% | |
| Q3 2023 | +1.4% | -2.9% | +10.7% | |
| Q2 2023 | +5.4% | +11.6% | +32.1% | |
| Q1 2023 | -0.8% | +8.5% | +25.5% | |
| Q4 2022 | -7.0% | -9.4% | -9.4% | |
| Q3 2022 | -6.5% | -10.6% | -13.8% | |
| Q2 2022 | +2.5% | -3.1% | +26.7% | |
| Q1 2022 | -7.4% | -12.4% | +9.9% | |
| Q4 2021 | +24.0% | +25.0% | +53.1% | |
| Q3 2021 | +1.2% | +5.5% | -20.0% | |
| Q2 2021 | +7.0% | +10.1% | +70.5% | |
| Q1 2021 | -8.3% | -8.3% | -2.5% | |
| Q4 2020 | -16.6% | -18.3% | -17.8% | |
| Q3 2020 | +9.7% | +10.0% | +10.0% | |
| Q2 2020 | -3.5% | +0.0% | -18.4% | |
| Q1 2020 | +4.1% | -3.2% | +12.9% | |
| Q4 2019 | -13.0% | -6.4% | -27.7% | |
| Q3 2019 | -2.2% | -2.5% | +0.0% | |
| Q2 2019 | -3.2% | -7.1% | -11.9% | |
| Q1 2019 | +6.8% | +15.1% | +5.7% | |
| Q4 2018 | -7.1% | -10.0% | -14.0% | |
| Q3 2018 | +9.2% | +2.9% | +11.4% | |
| Q2 2018 | -14.5% | -3.6% | -7.3% | |
| Q1 2018 | +10.2% | +10.0% | -15.0% | |
| Q4 2017 | -0.7% | +3.3% | -23.9% | |
| Q3 2017 | +1.8% | -1.2% | -4.8% | |
| Q2 2017 | +2.6% | +7.9% | +5.8% | |
| Q1 2017 | -1.1% | +3.9% | +14.4% | |
| Q4 2016 | -3.5% | -4.2% | +14.7% | |
| Q3 2016 | -5.8% | +12.5% | -8.0% | |
| Q2 2016 | +1.7% | +1.7% | +26.3% | |
| Q1 2016 | -12.0% | — | — | |
| Q4 2015 | +3.9% | — | — | |
| Q3 2015 | +5.5% | — | — | |
| Q2 2015 | +2.1% | — | — | |
| Q1 2015 | -2.5% | — | — | |
| Q4 2014 | +0.8% | — | — | |
| Q3 2014 | +5.6% | — | — | |
| Q2 2014 | +0.3% | — | — | |
| Q1 2014 | +3.4% | — | — | |
| Q4 2013 | -0.8% | — | — | |
| Q3 2013 | +6.1% | — | — | |
| Q2 2013 | +1.6% | — | — | |
| Q1 2013 | +6.1% | — | — | |
| Q1 2010 | -2.9% | — | — | |
| Q4 2012 | +1.4% | — | — | |
| Q3 2012 | -12.5% | — | — | |
| Q1 2011 | -6.4% | — | — | |
| Q2 2012 | +4.9% | — | — | |
| Q1 2012 | +16.3% | — | — | |
| Q2 2011 | -6.3% | — | — | |
| Q4 2009 | -6.3% | — | — | |
| Q4 2011 | -6.3% | — | — | |
| Q3 2010 | -18.0% | — | — | |
| Q3 2011 | -18.0% | — | — | |
| Q4 2010 | +16.7% | — | — | |
| Q2 2010 | +16.7% | — | — |
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