Globalstar (NASDAQ: GSAT) reported Q2 2026 revenue of $64.8 million on August 6, 2026, per the company's press release on GlobeNewswire — down from $70.1 million in Q1 2026, which itself represented a 17% increase over the prior year's first quarter.
The Q2 figure came alongside what the company described as record high Commercial IoT subscriber activations, though no specific subscriber addition numbers appeared in the available press release excerpt.
On the regulatory front, Globalstar confirmed continued progress on approval for its previously announced merger agreement with Amazon, with the waiting period under the HSR Act expiring in July 2026, per the August 6 GlobeNewswire release. In connection with the pending transaction, Globalstar stated it does not intend to hold future earnings conference calls or provide updates to forward-looking guidance — meaning Thursday's release stands as the primary public record of the quarter.
Apple partnered with Globalstar for the iPhone 14 in 2022, making it the first mainstream smartphone brand to offer satellite connectivity, per Satellite Today. Globalstar has since provided emergency connectivity for iPhone models 14, 15, and 16, and under an expanded deal will allocate 85% of its network capacity to Apple. In a separate filing cited by Satellite Today, Globalstar said it expects revenue to more than double from 2024 levels once the expanded satellite services are operational.
On the balance sheet, Globalstar carried $358.45 million in cash and cash equivalents per Motley Fool (data dated May 22, 2026), against total debt of $423.7 million at June 30, 2026 — up from $410.0 million at December 31, 2025, per the August 6 GlobeNewswire release.
Satellite infrastructure is also advancing. Globalstar said in the August 6 release that the first set of replacement satellites under its next-generation constellation initiative has been rescheduled for launch later in August, with third-generation satellite development also continuing.
CEO Paul E. Jacobs, PhD, is named in the filing. No executive quotes were available in the sourced press release excerpt.
Q2 revenue of $64.8 million came in below Q1's $70.1 million. Globalstar cited the pending Amazon transaction as its reason for declining to provide forward-looking guidance or hold further earnings calls, per the August 6 GlobeNewswire release — leaving the Q3 revenue outlook unaddressed in any sourced public statement.
The Nasdaq fell 0.47% on August 6, 2026, per TheStreet, providing a soft backdrop for the print.