{"id":796575,"date":"2024-12-20T16:06:04","date_gmt":"2024-12-20T21:06:04","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/"},"modified":"2024-12-20T16:06:04","modified_gmt":"2024-12-20T21:06:04","slug":"globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/","title":{"rendered":"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day<\/b><\/p>\n<p>COVINGTON, La.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nGlobalstar, Inc. (NYSE American: GSAT) (\u201cGlobalstar\u201d or the \u201cCompany\u201d), a next-generation telecommunications infrastructure and technology provider, held an investor day on Thursday, December 12, 2024. The Company\u2019s executive leadership team outlined Globalstar\u2019s strategic priorities and vision for the future by optimizing value for its core assets and providing updates to its short and long-term financial outlook.<\/p>\n<p>\nAdditionally, the Company hosted several customer panels during the event, which are available for replay on Globalstar\u2019s investor relations <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.globalstar.com%2Fevents-and-presentations%2Fevents&amp;esheet=54170179&amp;newsitemid=20241220677087&amp;lan=en-US&amp;anchor=website&amp;index=1&amp;md5=cd28757e070927fc3bda52aa49183dfb\">website<\/a> under \u201cEvents and Presentations\u201d. A summary of the event is detailed below:<\/p>\n<p><b><span class=\"bwuline\">Terrestrial Wireless<\/span><\/b><\/p>\n<p><b>XCOM RAN<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Differentiated high-performance<\/b> 5G architecture enabling automation, industrial 5G, and critical infrastructure applications with ease of deployment for mission-critical applications\n<\/li>\n<li><b>Strategic focus<\/b> on high-value market segments including warehouse automation \/ dense industrial 4.0, manufacturing, ports, and logistics facilities\n<\/li>\n<li><b>Major global retailer<\/b> deploying XCOM RAN solution with ongoing implementation in 2025\n<\/li>\n<\/ul>\n<p><b>Band n53<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nDeployed in <b>12 countries covering nearly 1 billion POPs<\/b>, including 100% coverage across the U.S., Canada, and Mexico<\/p>\n<\/li>\n<li>\nRepresents a <b>strategic spectrum asset that enables mission-critical applications<\/b>, with potential for aggregation with CBRS for expanded capabilities<\/p>\n<\/li>\n<li>\nBand n53 <b>ecosystem keeps growing<\/b> and building revenue opportunities<\/p>\n<\/li>\n<li><b>First live 5G Radio Access Network<\/b> over Band n53 demonstrated, showing quadrupled speeds as <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.globalstar.com%2Fnews-releases%2Fnews-release-details%2Fglobalstar-achieves-first-5g-data-call-xcom-ran-band-n53&amp;esheet=54170179&amp;newsitemid=20241220677087&amp;lan=en-US&amp;anchor=announced&amp;index=2&amp;md5=01c0e71de54e6e6f76c5107bbe7c98e5\">announced<\/a> on December 12, 2024\n<\/li>\n<\/ul>\n<p><b><span class=\"bwuline\">Mobile Satellite Services (MSS)<\/span><\/b><\/p>\n<p><b>Retail Consumer<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Strong revenue generation<\/b> with ~260,000 active subscribers contributing $44 million in 2023 annual service revenue\n<\/li>\n<li>\nAchieved milestone of <b>10,000 rescues<\/b> in 2024<\/p>\n<\/li>\n<li><b>Established brand presence<\/b> in outdoor\/adventure segment with loyal customer base and robust distribution channels\n<\/li>\n<li>\nExecuting on <b>strategic investment in growth segments<\/b> through enhanced product capabilities, enterprise market expansion, and selective consumer focus while maintaining profitable core business<\/p>\n<\/li>\n<\/ul>\n<p><b>Commercial IoT:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Currently serving ~481,000 <\/b>average active devices across diverse market verticals\n<\/li>\n<li><b>Generated<\/b> $23 million in annual service revenue for 2023\n<\/li>\n<li><b>Targeting significant market growth <\/b>with projected TAM of $2.4B through various verticals including transportation &amp; supply chain logistics, fleet management, animal tracking and automotive IoT\n<\/li>\n<li><b>Strategic focus on <\/b>emerging two-way technology to expand market opportunities, product enhancements (cost, size, weight, power), and increased ARPU through new capabilities all enabled through a growing market\n<\/li>\n<\/ul>\n<p><b>Government &amp; Wholesale Consumer:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Exclusive partnership with Parsons <\/b>for public sector and defense applications as <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestors.globalstar.com%2Fnews-releases%2Fnews-release-details%2Fparsons-and-globalstar-announce-partnership-demonstrate-first&amp;esheet=54170179&amp;newsitemid=20241220677087&amp;lan=en-US&amp;anchor=announced&amp;index=3&amp;md5=72ce5de666f2c2f80e782ee812f33c1f\">announced<\/a> on December 3, 2024\n<\/li>\n<li><b>Updated services agreement <\/b>with wholesale customer includes new satellite constellation, expanded ground infrastructure and increased global MSS licensing per November 2024 Form 8-K\n<\/li>\n<li><b>Globalstar will retain 100%<\/b> of all terrestrial, MSS and other revenue and will continue to allocate 85% of its network capacity to render the Satellite Services to the Customer across existing and new satellites\n<\/li>\n<li>\nGlobalstar <b>reserved 15%<\/b> to service the Company\u2019s direct MSS customers<\/p>\n<\/li>\n<\/ul>\n<p><b>Financial Performance &amp; Outlook:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li><b>Reiterated <\/b>full year 2024 revenue guidance range to $245-250 million and Adjusted EBITDA margin to 54%\n<\/li>\n<li><b>Introduced <\/b>full year 2025 revenue guidance of $260-285 million and Adjusted EBITDA margin of ~50%, driven by incremental strategic investments in terrestrial network and other long-term growth initiatives\n<\/li>\n<li><b>Longer term, the Company expects revenue to more than double <\/b>to over $495 million, with Adjusted EBITDA margins in excess of 54% in the first full year of extend MSS network service\n<\/li>\n<li><b>Additional upside potential from terrestrial spectrum and XCOM RAN.<\/b><\/li>\n<\/ul>\n<p><b>About Globalstar, Inc.<\/b><\/p>\n<p>\nGlobalstar empowers its customers to connect, transmit, and communicate in smarter ways \u2013 easily, quickly, securely, and affordably \u2013 offering reliable satellite and terrestrial connectivity services as an international telecom infrastructure provider. The Company\u2019s LEO satellite constellation ensures secure data transmission for connecting and protecting assets, transmitting critical operational data, and saving lives for consumers, businesses, and government agencies across the globe. Globalstar\u2019s terrestrial spectrum, Band 53, and its 5G variant, n53, offers carriers, cable companies, and system integrators a versatile, fully licensed channel for private networks with a growing ecosystem to improve customer wireless connectivity, while Globalstar\u2019s XCOM RAN product offers significant capacity gains in dense wireless deployments. In addition to SPOT GPS messengers, Globalstar offers next-generation IoT hardware and software products for efficiently tracking and monitoring assets, processing smart data at the edge, and managing analytics with cloud-based telematics solutions to drive safety, productivity, and profitability. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.globalstar.com&amp;esheet=54170179&amp;newsitemid=20241220677087&amp;lan=en-US&amp;anchor=www.globalstar.com&amp;index=4&amp;md5=5d2295d613130d72bdff8d181ba97595\">www.globalstar.com<\/a>.<\/p>\n<p><b>Forward Looking Statements<\/b><\/p>\n<p>\nCertain statements contained in this press release other than purely historical information, including, but not limited to, expectations regarding future revenue, financial performance, financial condition, liquidity, projections, estimates and guidance, statements relating to our business plans, objectives and expected operating results, our anticipated financial resources, our ability to integrate the licensed technology into our current line of business, our expectations with respect to the pursuit of terrestrial spectrum authorities globally, the success of current and potential future applications for our terrestrial spectrum, our ability to meet our obligations and attain the attempted benefits under the updated services agreements, and the assumptions upon which those statements are based, are \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words \u201cbelieve,\u201d \u201cproject,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cstrategy,\u201d \u201cplan,\u201d \u201cmay,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cwould,\u201d \u201cwill be,\u201d \u201cwill continue,\u201d \u201cwill likely result,\u201d and similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from the forward-looking statements. Risks and uncertainties that could cause or contribute to such differences include, without limitation, those described under Item 1A. Risk Factors of the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and in the Company\u2019s other filings with the SEC. The Company undertakes no obligation to update any of the forward-looking statements after the date of this press release to reflect actual results, future events or circumstances or changes in our assumptions, business plans or other changes.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241220677087r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20241220677087\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20241220677087\/en\/<\/a><\/span><\/p>\n<p><b>Investor Contact Information:<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:investorrelations@globalstar.com\">investorrelations@globalstar.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Louisiana United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Mobile\/Wireless Technology Other Communications 5G Satellite Communications Telecommunications Networks Internet IOT (Internet of Things)<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20241220677087\/en\/1876374\/3\/Globalstar_logotype_orange_grey_rgb.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day COVINGTON, La.&#8211;(BUSINESS WIRE)&#8211; Globalstar, Inc. (NYSE American: GSAT) (\u201cGlobalstar\u201d or the \u201cCompany\u201d), a next-generation telecommunications infrastructure and technology provider, held an investor day on Thursday, December 12, 2024. The Company\u2019s executive leadership team outlined Globalstar\u2019s strategic priorities and vision for the future by optimizing value for its core assets and providing updates to its short and long-term financial outlook. Additionally, the Company hosted several customer panels during the event, which are available for replay on Globalstar\u2019s investor relations website under \u201cEvents and Presentations\u201d. A summary of the event is detailed below: Terrestrial Wireless XCOM RAN Differentiated high-performance 5G architecture enabling automation, industrial 5G, and critical infrastructure applications with ease of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-796575","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day COVINGTON, La.&#8211;(BUSINESS WIRE)&#8211; Globalstar, Inc. (NYSE American: GSAT) (\u201cGlobalstar\u201d or the \u201cCompany\u201d), a next-generation telecommunications infrastructure and technology provider, held an investor day on Thursday, December 12, 2024. The Company\u2019s executive leadership team outlined Globalstar\u2019s strategic priorities and vision for the future by optimizing value for its core assets and providing updates to its short and long-term financial outlook. Additionally, the Company hosted several customer panels during the event, which are available for replay on Globalstar\u2019s investor relations website under \u201cEvents and Presentations\u201d. A summary of the event is detailed below: Terrestrial Wireless XCOM RAN Differentiated high-performance 5G architecture enabling automation, industrial 5G, and critical infrastructure applications with ease of &hellip; Continue reading &quot;Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-20T21:06:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241220677087r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day\",\"datePublished\":\"2024-12-20T21:06:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\\\/\"},\"wordCount\":1003,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20241220677087r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\\\/\",\"name\":\"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day - 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(NYSE American: GSAT) (\u201cGlobalstar\u201d or the \u201cCompany\u201d), a next-generation telecommunications infrastructure and technology provider, held an investor day on Thursday, December 12, 2024. The Company\u2019s executive leadership team outlined Globalstar\u2019s strategic priorities and vision for the future by optimizing value for its core assets and providing updates to its short and long-term financial outlook. Additionally, the Company hosted several customer panels during the event, which are available for replay on Globalstar\u2019s investor relations website under \u201cEvents and Presentations\u201d. A summary of the event is detailed below: Terrestrial Wireless XCOM RAN Differentiated high-performance 5G architecture enabling automation, industrial 5G, and critical infrastructure applications with ease of &hellip; Continue reading \"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/","og_site_name":"Market Newsdesk","article_published_time":"2024-12-20T21:06:04+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241220677087r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day","datePublished":"2024-12-20T21:06:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/"},"wordCount":1003,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20241220677087r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/globalstar-outlines-growth-strategy-and-financial-outlook-at-investor-day\/","name":"Globalstar Outlines Growth Strategy and Financial Outlook at Investor Day - 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