Recent News
On August 6, 2026 Globalstar released second-quarter 2026 results and reiterated progress on its next‑generation constellation and commercial rollout of the RM200M satellite communications module. The company noted continued customer engagement across satellite and terrestrial connectivity offerings. The company’s 10‑Q filed for the period ended June 30, 2026 (filed August 6, 2026) discloses the April 13, 2026 Merger Agreement with Amazon and describes regulatory steps, with the HSR waiting period noted as expiring in July 2026. An information statement filed August 18, 2026 provides comparison pricing tables and merger‑related disclosures. A September 21, 2026 release announced completion of expanded ground‑station infrastructure in Greece to support constellation operations.
Technical Analysis
ADX at 9.83 indicates no trending regime; directional indicators show a bullish configuration where DI+ held at 21.57 with a dip & reversal and DI‑ at 20.72 with a peak & reversal, implying renewed directional interest but without strong trend confirmation from ADX. This suggests short-term directional moves rather than a sustained trend.
MACD reads 0.18 with a dip & reversal and sits above its signal line at 0.12; the cross above the signal line constitutes a bullish momentum signal and supports near‑term upside bias versus recent averages.
MRO at 21.32 registers positive, which implies price sits above an internal target and introduces mean‑reversion risk; the dip & reversal in MRO suggests momentum building, but the positive MRO tempers extension potential relative to valuation.
RSI at 53.36 with a dip & reversal places momentum in the neutral‑to‑mildly‑bullish band, consistent with signals from MACD and the directional indicators and pointing toward range‑bound upside unless ADX confirms trend strength.
Price structure shows the last close at $83.04 above the 20‑day average of $82.12, the 50‑day average of $81.68, and the 200‑day average of $73.30, indicating price leadership versus medium‑ and long‑term averages; price sits near the upper Bollinger band (upper ~ $82.66–$83.21), which narrows the margin for immediate extension without a volume pickup. Short‑term volume at ~518k remains below the 10‑day and 50‑day averages, suggesting limited conviction behind recent moves.
Fundamental Analysis
Revenue totaled $64,772,000 for the period ending June 30, 2026, with YoY revenue contraction of 1.64% and QoQ revenue growth of 186.53% as reported; operating cash flow reached $124,540,000 and free cash flow totaled $32,639,000, producing a cash flow margin of 56.96% and an operating cash conversion that supports ongoing capital and launch activity.
Operating income (EBIT) registered a loss of $4,775,000 and an EBIT margin of -7.37%, which sits below the industry peer mean margin of 22.79% and the industry peer median of 22.08%, indicating current operating profitability lags typical peer performance. EBITDA remained positive at $12,027,000, reflecting underlying cash earnings despite an operating loss.
Net income was negative at $-26,539,000 and EPS came in at $-0.16 versus an estimate of $-0.09, producing an EPS shortfall of $-0.07 and an EPS surprise ratio of -77.78%. Forward EPS sits at $0.0616 with a forward PE of ~1,018x, reflecting very low forward earnings and significant valuation dispersion against fundamental earnings power.
Balance sheet liquidity shows $409,771,000 in cash and short‑term investments versus total debt of $411,798,000; the cash ratio equals 1.37 and the current ratio stands at 1.55, indicating near‑term coverage of current liabilities. Debt‑to‑equity at 140.73% and debt‑to‑EBITDA of 34.24x reflect elevated leverage relative to cash earnings, while interest coverage remains negative at -1.66, indicating operating losses relative to net interest burden.
Market multiples appear elevated: price‑to‑book at 35.17x and price‑to‑sales at 158.89x both sit well above the industry peer mean and median values, and enterprise value totals approximately $10.29 billion against trailing revenue of $64.77 million (EV/Revenue ~158.92), which underpins the WMDST valuation judgment. Gross margin of 58.32% and strong operating cash flow partially justify investment in infrastructure, but high multiples and weak profitability metrics constrain valuation upside.
WMDST values the stock as over‑valued based on the combination of high market multiples, enterprise valuation relative to revenue, negative net earnings, and significant leverage metrics, despite positive cash flows and clear operational progress on satellite deployment and ground‑station expansion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 358.4 M |
| Operating Cash Flow | $ 124.5 M | |
| Capital Expenditures | $ -91.90 M | |
| Change In Working Capital | $ 109.7 M | |
| Dividends Paid | $ -2.64 M | |
| Cash Flow Delta | $ 51.3 M | |
| End Period Cash Flow | $ 409.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 64.8 M | |
| Forward Revenue | $ -4.87 M | |
| COSTS | ||
| Cost Of Revenue | $ 27.0 M | |
| Depreciation | $ 16.8 M | |
| Depreciation and Amortization | $ 16.8 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 69.5 M | |
| PROFITABILITY | ||
| Gross Profit | $ 37.8 M | |
| EBITDA | $ 12.0 M | |
| EBIT | $ -4.78 M | |
| Operating Income | $ -4.78 M | |
| Interest Income | $ -20.66 M | |
| Interest Expense | — | |
| Net Interest Income | $ -20.66 M | |
| Income Before Tax | $ -22.63 M | |
| Tax Provision | $ 3.9 M | |
| Tax Rate | 40.0 % | |
| Net Income | $ -26.54 M | |
| Net Income From Continuing Operations | $ -23.94 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.09 | |
| EPS Actual | $ -0.16 | |
| EPS Difference | $ -0.07 | |
| EPS Surprise | -77.778 % | |
| Forward EPS | $ 0.06 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.4 B | |
| Intangible Assets | $ 145.7 M | |
| Net Tangible Assets | $ 146.9 M | |
| Total Current Assets | $ 463.5 M | |
| Cash and Short-Term Investments | $ 409.8 M | |
| Cash | $ 409.8 M | |
| Net Receivables | $ 20.5 M | |
| Inventory | $ 10.9 M | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 120.8 M | |
| Short-Term Debt | $ 51.4 M | |
| Total Current Liabilities | $ 299.9 M | |
| Net Debt | — | |
| Total Debt | $ 411.8 M | |
| Total Liabilities | $ 2.2 B | |
| EQUITY | ||
| Total Equity | $ 292.6 M | |
| Retained Earnings | $ -2.21 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 2.26 | |
| Shares Outstanding | 129.562 M | |
| Revenue Per-Share | $ 0.50 | |
| VALUATION | Market Capitalization | $ 10.3 B |
| Enterprise Value | $ 10.3 B | |
| Enterprise Multiple | 855.866 | |
| Enterprise Multiple QoQ | 146.28 % | |
| Enterprise Multiple YoY | 625.665 % | |
| Enterprise Multiple IPRWA | GSAT: 855.866 high: 157.938 mean: 29.875 median: 22.162 low: -24.639 |
|
| EV/R | 158.919 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 8.355 | |
| Asset To Liability | 1.136 | |
| Debt To Capital | 0.585 | |
| Debt To Assets | 0.168 | |
| Debt To Assets QoQ | -24.28 % | |
| Debt To Assets YoY | -40.767 % | |
| Debt To Assets IPRWA | high: 0.8 mean: 0.407 median: 0.382 GSAT: 0.168 low: 0.008 |
|
| Debt To Equity | 1.407 | |
| Debt To Equity QoQ | -8.779 % | |
| Debt To Equity YoY | -6.454 % | |
| Debt To Equity IPRWA | high: 3.868 mean: 1.716 median: 1.578 GSAT: 1.407 low: 0.014 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 35.171 | |
| Price To Book QoQ | 32.725 % | |
| Price To Book YoY | 296.141 % | |
| Price To Book IPRWA | GSAT: 35.171 high: 9.984 median: 3.516 mean: 3.476 low: 0.044 |
|
| Price To Earnings (P/E) | -496.453 | |
| Price To Earnings QoQ | -36.753 % | |
| Price To Earnings YoY | -372.963 % | |
| Price To Earnings IPRWA | high: 381.602 mean: 55.412 median: 54.565 low: -205.48 GSAT: -496.453 |
|
| PE/G Ratio | -6.383 | |
| Price To Sales (P/S) | 158.888 | |
| Price To Sales QoQ | 22.545 % | |
| Price To Sales YoY | 232.985 % | |
| Price To Sales IPRWA | GSAT: 158.888 high: 71.074 mean: 9.769 median: 6.389 low: 0.191 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 1018.499 | |
| Forward PE/G | 13.095 | |
| Forward P/S | -1700.077 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 20.917 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.027 | |
| Asset Turnover Ratio QoQ | -9.836 % | |
| Asset Turnover Ratio YoY | -27.228 % | |
| Asset Turnover Ratio IPRWA | high: 0.132 median: 0.132 mean: 0.128 GSAT: 0.027 low: 0.004 |
|
| Receivables Turnover | 3.215 | |
| Receivables Turnover Ratio QoQ | -8.822 % | |
| Receivables Turnover Ratio YoY | 14.037 % | |
| Receivables Turnover Ratio IPRWA | high: 4.507 GSAT: 3.215 mean: 1.526 median: 0.985 low: 0.014 |
|
| Inventory Turnover | 2.569 | |
| Inventory Turnover Ratio QoQ | -2.331 % | |
| Inventory Turnover Ratio YoY | 24.369 % | |
| Inventory Turnover Ratio IPRWA | high: 7.633 mean: 3.375 median: 3.076 GSAT: 2.569 low: 0.973 |
|
| Days Sales Outstanding (DSO) | 28.381 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | -275.339 | |
| Cash Conversion Cycle Days QoQ | 185.262 % | |
| Cash Conversion Cycle Days YoY | 262.745 % | |
| Cash Conversion Cycle Days IPRWA | high: 122.314 mean: -19.718 median: -20.977 low: -139.043 GSAT: -275.339 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.396 | |
| CapEx To Revenue | -1.419 | |
| CapEx To Depreciation | -5.47 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 600.0 M | |
| Net Invested Capital | $ 651.4 M | |
| Invested Capital | $ 651.4 M | |
| Net Tangible Assets | $ 146.9 M | |
| Net Working Capital | $ 163.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.366 | |
| Current Ratio | 1.545 | |
| Current Ratio QoQ | -3.637 % | |
| Current Ratio YoY | -45.039 % | |
| Current Ratio IPRWA | high: 2.782 GSAT: 1.545 mean: 0.766 low: 0.714 median: 0.714 |
|
| Quick Ratio | 1.509 | |
| Quick Ratio QoQ | -3.52 % | |
| Quick Ratio YoY | -44.585 % | |
| Quick Ratio IPRWA | high: 2.314 GSAT: 1.509 mean: 0.706 low: 0.656 median: 0.656 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 34.239 | |
| Cost Of Debt | 0.366 % | |
| Interest Coverage Ratio | -1.663 | |
| Interest Coverage Ratio QoQ | -157.991 % | |
| Interest Coverage Ratio YoY | -177.693 % | |
| Interest Coverage Ratio IPRWA | high: 5.102 median: 4.497 mean: 3.405 GSAT: -1.663 low: -1089.8 |
|
| Operating Cash Flow Ratio | 0.123 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 340.741 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | -10.037 | |
| Dividend Payout Ratio | -0.1 | |
| Dividend Rate | $ 0.02 | |
| Dividend Yield | 0.0 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.833 % | |
| Revenue Growth | -7.553 % | |
| Revenue Growth QoQ | 186.533 % | |
| Revenue Growth YoY | -163.717 % | |
| Revenue Growth IPRWA | high: 5.828 % median: 1.785 % mean: 1.686 % low: -1.368 % GSAT: -7.553 % |
|
| Earnings Growth | 77.778 % | |
| Earnings Growth QoQ | 55.556 % | |
| Earnings Growth YoY | -131.818 % | |
| Earnings Growth IPRWA | GSAT: 77.778 % high: 20.0 % mean: 6.944 % median: 6.818 % low: -98.98 % |
|
| MARGINS | ||
| Gross Margin | 58.32 % | |
| Gross Margin QoQ | -7.479 % | |
| Gross Margin YoY | -12.564 % | |
| Gross Margin IPRWA | high: 86.546 % mean: 64.1 % median: 63.329 % GSAT: 58.32 % low: 25.365 % |
|
| EBIT Margin | -7.372 % | |
| EBIT Margin QoQ | -162.73 % | |
| EBIT Margin YoY | -180.542 % | |
| EBIT Margin IPRWA | high: 37.972 % mean: 22.789 % median: 22.079 % GSAT: -7.372 % low: -297.03 % |
|
| Return On Sales (ROS) | -7.372 % | |
| Return On Sales QoQ | -162.73 % | |
| Return On Sales YoY | -180.542 % | |
| Return On Sales IPRWA | high: 25.728 % mean: 22.914 % median: 22.843 % GSAT: -7.372 % low: -297.51 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 32.6 M | |
| Free Cash Flow Yield | 0.317 % | |
| Free Cash Flow Yield QoQ | -135.459 % | |
| Free Cash Flow Yield YoY | -86.753 % | |
| Free Cash Flow Yield IPRWA | high: 4.062 % median: 2.134 % mean: 1.917 % GSAT: 0.317 % low: -5.965 % |
|
| Free Cash Growth | -140.197 % | |
| Free Cash Growth QoQ | 19.14 % | |
| Free Cash Growth YoY | -9.708 % | |
| Free Cash Growth IPRWA | high: 121.582 % mean: 25.004 % median: -5.686 % GSAT: -140.197 % low: -157.772 % |
|
| Free Cash To Net Income | -1.23 | |
| Cash Flow Margin | 56.958 % | |
| Cash Flow To Earnings | -1.39 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.101 % | |
| Return On Assets QoQ | 48.583 % | |
| Return On Assets YoY | -204.261 % | |
| Return On Assets IPRWA | high: 1.686 % mean: 1.333 % median: 1.331 % GSAT: -1.101 % low: -3.259 % |
|
| Return On Capital Employed (ROCE) | -0.223 % | |
| Return On Equity (ROE) | -0.091 | |
| Return On Equity QoQ | 78.508 % | |
| Return On Equity YoY | -270.393 % | |
| Return On Equity IPRWA | high: 0.081 mean: 0.056 median: 0.056 GSAT: -0.091 low: -0.15 |
|
| DuPont ROE | -8.352 % | |
| Return On Invested Capital (ROIC) | -0.44 % | |
| Return On Invested Capital QoQ | -172.848 % | |
| Return On Invested Capital YoY | -177.193 % | |
| Return On Invested Capital IPRWA | high: 16.98 % mean: 4.221 % median: 3.584 % GSAT: -0.44 % low: -3.325 % |
|