MDA Space has liquidated damages clauses with its suppliers concerning the Globalstar contract.
Apple is paying for 95% of the upgraded network expenses for Globalstar’s satellites.
CEO Paul Jacobs stated that Globalstar's MSS spectrum, experience in constellation operations, and engineering capabilities highlight the company's value.
Globalstar is entitled to liquidated damages from MDA Space due to the delivery delay, but the amount has not been disclosed.
Globalstar ordered 17 satellites from MDA Space in February 2022, with MDA subcontracting Rocket Lab to provide the satellite buses.
Globalstar is exploring a potential sale and has talked with SpaceX as a potential buyer.
MDA Space is delayed in delivering Globalstar’s constellation refresh, pushing the first launch to 2026.
Globalstar reiterated its financial guidance for the year, expecting revenue between $260 million and $285 million and an adjusted EBITDA margin of approximately 50%.
Globalstar's investment aims to provide increased service functionality and capacity for hundreds of millions of users globally.
Globalstar has announced construction projects related to its third-generation C-3 satellite system that are ongoing at 14 different locations in eight countries on four continents.
Globalstar's Q3 revenue increased by 2% year-over-year, driven by the Apple deal and higher commercial IoT service revenue.
Globalstar contracted SpaceX to launch the satellites in two batches and is working with SpaceX to establish an updated window for the first batch due to delays.
Globalstar reported a net income of $1.1 million for Q3 2025, down from $9.9 million in the prior year’s third quarter.
Globalstar reported record revenue of $73.8 million in Q3 2025, consisting of $69.6 million in service revenue and $4.2 million in subscriber equipment sales.
Globalstar expects MDA Space to deliver the satellites in early 2026, later than specified in the procurement contract.
Globalstar's upgrades are designed to improve service quality and add redundancy across its network.
Globalstar's broader expansion will include up to 90 new tracking antennas supporting its third-generation C-3 satellite system.
Globalstar's new infrastructure addresses connectivity needs in regions of Brazil and South America not served by terrestrial networks.
The satellites will serve as a refresh of Globalstar’s current satellites and support Apple’s satellite messaging service, which Globalstar has enabled since 2022.
Mersad Cavcic is the Chief Product Officer at Globalstar.