Globalstar (GSAT) has wrapped up FY 2025 with fourth quarter revenue of US$72 million and a basic EPS loss of US$0.11, while trailing twelve month revenue came in at US$273 million alongside a full year basic EPS loss of US$0.15. Over recent periods the business has seen quarterly revenue range from US$60 million to US$74 million, with EPS swinging between a profit of US$0.13 and losses including US$0.16. This gives investors a mixed picture on how consistently revenue is translating into earnings. Overall, the latest print keeps the spotlight firmly on how efficiently Globalstar can convert its growing top line into more stable margins.

See our full analysis for Globalstar.

With the headline numbers on the table, the next step is to see how these results line up with the widely followed growth and risk narratives around Globalstar, and where those stories might be challenged by the data.

Losses Narrow On A 12‑Month View

• Over the last twelve months, Globalstar booked total revenue of about US$273 million and a net loss of US$19.3 million, which compares with an earlier twelve month loss of US$77.9 million on US$253.9 million of revenue.
• Consensus narrative points to revenue growth of 14.9% a year and a shift from a US$19.3 million loss to US$76.2 million of earnings by around 2029. This trailing loss reduction already visible in the data both supports that optimism and raises the bar for keeping margins improving.
  • Trailing twelve month basic EPS moved from a loss of US$0.62 to a smaller loss of US$0.15. This lines up with analysts expecting margins to move from about -7.1% to 18.4% in three years.
  • The last five years are cited as showing a 20.2% annual reduction in losses, so the current negative margin still leaves work to do for the consensus earnings path to play out.

Quarterly Profitability Still Very Choppy

• Single quarter results swing from a profit of US$16.6 million in FY 2025 Q2 to losses of US$19.9 million in Q1 and US$14.3 million in Q4, with basic EPS moving between a profit of US$0.13 and losses including US$0.16 and US$0.11.
• Bears focus on this volatility and argue that heavy capital spending and competition could keep earnings unstable even if revenue grows. These sharp moves from profit to loss in 2025 give that cautious view real data behind it.
  • FY 2025 Q4 revenue was US$72.0 million, close to Q3’s US$73.8 million, yet net income moved from a US$1.6 million loss to a US$14.3 million loss, which fits the concern that costs and investment can quickly absorb incremental revenue.
  • Compared with FY 2024 Q4, where revenue was US$61.2 million and the loss was US$52.9 million, the scale of quarterly losses has come down, but the pattern still reflects the long sales cycles and contract concentration highlighted in the bearish narrative.

Skeptics warn that choppy profits and big capex could bite harder than bulls expect, so it can be useful to see how the detailed bearish case lines up with these swings in the actual numbers 🐻 Globalstar Bear Case.

Rich Valuation Versus DCF And Telecom Peers

• Globalstar trades on a trailing P/S of 38.4x against 1.4x for the broader US Telecom industry and 2.1x for peers, and the current share price of US$81.48 sits well above a DCF fair value estimate of US$34.69.
• Bulls see this as a price placed on strong growth potential, including forecast earnings growth of 78.85% a year and revenue growth of 13.2% a year. The gap to both peers and the DCF fair value means those expectations already ask a lot from future execution.
  • Analysts looking for a bullish outcome talk about revenue reaching US$412.1 million and margins rising toward roughly 24.9%, which would be a clear step up from the current twelve month revenue base of US$273.0 million and negative earnings.
  • That same bullish view implies the stock would still trade on a very high P/E multiple compared with the US Telecom industry, which is referenced at 15.2x. Any slowdown from the 13.2% revenue growth forecast or the 78.85% earnings growth forecast would leave the current P/S multiple exposed.

Bulls argue that spectrum, IoT partnerships, and margin expansion can justify a premium, and comparing that story with current revenue, losses, and the DCF fair value helps you judge how much optimism is already in the price 🐂 Globalstar Bull Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Globalstar on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

With bullish and bearish narratives both finding support in the same set of numbers, it makes sense to check the figures yourself and decide how comfortable you are with the trade off between risk and potential reward. To help frame that view against the current concerns and bright spots identified by other investors, start by reviewing the 2 key rewards and 1 important warning sign

See What Else Is Out There

Globalstar combines a history of losses with choppy quarterly earnings and a high P/S multiple, which makes the current pricing look demanding.

If that mix of volatility and rich valuation feels uncomfortable, you can quickly compare it with companies screened for stronger value profiles using the 51 high quality undervalued stocks right now.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.