Filing Flows › Globalstar (GSAT) › Q2 2026 › vs Q2 2025
Globalstar (GSAT) Q2 2026 vs Q2 2025 (year over year)
Globalstar's revenue fell $2.4M (-4%) from $67.1M in Q2 2025 to $64.8M in Q2 2026. The biggest changes: Total service revenue −$3.2M (-5%); Subscriber equipment sales +$842K (+21%).
Globalstar, Q2 2026: revenue $64.8M (-4% year over year), operating margin -7.4%, net loss $26.5M, operating cash flow $125M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 152.2% | 231.4% | -79.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Wholesale capacity services | $40.1M | $42.4M | −$2.3M | -5% |
| SPOT | $8.6M | $9.2M | −$620K | -7% |
| Commercial IoT | $7.5M | $7.1M | $461K | +7% |
| Duplex | $2.7M | $3.7M | −$962K | -26% |
| Government and other services | $1.1M | $879K | $174K | +20% |
| Total service revenue | $60.0M | $63.2M | −$3.2M | -5% |
| Subscriber equipment sales | $4.8M | $3.9M | $842K | +21% |
| Revenue | $64.8M | $67.1M | −$2.4M | -4% |
| Net loss | $26.5M | −$19.2M | $45.7M | — |
| Costs & expenses | $91.3M | $80.2M | $11.1M | +14% |
| Operating costs | $69.5M | $61.0M | $8.5M | +14% |
| Interest & other, net | $17.9M | −$11.2M | $29.1M | — |
| Income tax | $3.9M | −$1.8M | $5.7M | — |
| SG&A | $23.0M | $9.7M | $13.3M | +138% |
| Other operating costs | $46.5M | $51.3M | −$4.8M | -9% |
| Operating cash sources | $151M | $139M | $12.4M | +9% |
| Depreciation & amortization | $16.8M | $23.0M | −$6.2M | -27% |
| Share-based compensation | $2.7M | $5.9M | −$3.2M | -54% |
| Working capital & other | $132M | $110M | $21.8M | +20% |
| Net loss absorbed | $26.5M | −$19.2M | $45.7M | — |
| Operating cash flow | $125M | $158M | −$33.3M | -21% |
| Free cash flow (OCF − capex) | $98.6M | $155M | −$56.8M | -37% |
| Capital expenditures | $26.0M | $2.5M | $23.4M | +928% |
Questions
How much did Globalstar's revenue grow year over year in Q2 2026?
Globalstar's revenue fell $2.4M (-4%) from $67.1M in Q2 2025 to $64.8M in Q2 2026.
What drove Globalstar's revenue change in Q2 2026?
Total service revenue −$3.2M (-5%); Subscriber equipment sales +$842K (+21%).