Filing Flows › Globalstar (GSAT) › Q3 2026 › vs Q3 2025
Globalstar (GSAT) Q3 2026 vs Q3 2025 (year over year)
Globalstar's revenue fell $2.9M (-4%) from $73.8M in Q3 2025 to $70.9M in Q3 2026. The biggest changes: Total service revenue −$4.2M (-6%); Subscriber equipment sales +$1.3M (+31%).
Globalstar, Q3 2026: revenue $70.9M (-4% year over year), operating margin 10.7%, net loss $15.7M, operating cash flow $137M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 172.5% | 248.6% | -76.1 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Wholesale capacity services | $44.6M | $47.3M | −$2.7M | -6% |
| SPOT | $8.6M | $9.5M | −$858K | -9% |
| Commercial IoT | $7.7M | $6.9M | $827K | +12% |
| Duplex | $3.3M | $4.7M | −$1.4M | -31% |
| Government and other services | $1.2M | $1.2M | −$32K | -3% |
| Total service revenue | $65.4M | $69.6M | −$4.2M | -6% |
| Subscriber equipment sales | $5.5M | $4.2M | $1.3M | +31% |
| Revenue | $70.9M | $73.8M | −$2.9M | -4% |
| Net loss | $15.7M | −$1.1M | $16.8M | — |
| Costs & expenses | $86.6M | $73.8M | $12.7M | +17% |
| Operating costs | $63.3M | $63.7M | −$397K | -0.6% |
| Interest & other, net | $21.9M | $8.0M | $14.0M | +175% |
| Income tax | $1.4M | $1.1M | $265K | +24% |
| SG&A | $14.8M | $11.3M | $3.4M | +30% |
| Other operating costs | $48.5M | $52.3M | −$3.8M | -7% |
| Operating cash sources | $153M | $235M | −$82.1M | -35% |
| Depreciation & amortization | $16.9M | $21.7M | −$4.8M | -22% |
| Share-based compensation | $2.5M | $4.9M | −$2.4M | -49% |
| Working capital & other | $133M | $208M | −$75.0M | -36% |
| Net loss absorbed | $15.7M | −$1.1M | $16.8M | — |
| Operating cash flow | $137M | $236M | −$98.9M | -42% |
| Free cash flow (OCF − capex) | $122M | $184M | −$61.3M | -33% |
| Capital expenditures | $14.8M | $52.4M | −$37.6M | -72% |
Questions
How much did Globalstar's revenue grow year over year in Q3 2026?
Globalstar's revenue fell $2.9M (-4%) from $73.8M in Q3 2025 to $70.9M in Q3 2026.
What drove Globalstar's revenue change in Q3 2026?
Total service revenue −$4.2M (-6%); Subscriber equipment sales +$1.3M (+31%).