Globalstar

Rocket Lab has a $143,000,000 subcontract from MDA to lead the design and manufacture of 17 spacecraft buses for Globalstar’s new Low Earth Orbit satellites.

Globalstar expects 2023 revenue of $200,000,000 to $230 million, representing 35% to 55% growth over 2022.

Globalstar selected MDA to build its Apple-backed third-generation LEO satellites within the past 18 months.

Globalstar contracted SpaceX to launch Apple-backed satellites in 2025 to replenish its low Earth orbit connectivity constellation.

Globalstar reached 0.44 million satellite IoT subscribers by the end of Q4-2022.

Globalstar contracted SpaceX to launch Apple-backed satellites in 2025 to replenish its low Earth orbit connectivity constellation.

Globalstar will pay a total $64,000,000 to launch the first set of satellites ordered from MDA.

Globalstar will pay a total $64,000,000 to launch the first set of satellites ordered last year from MDA.

Rocket Lab expects revenues and gross margins to improve in 2024 as Electron launches increase and as it begins to deliver Globalstar satellites under a contract with MDA.

MDA has contracted to build 17 satellites for Globalstar, 198 satellites for Telesat, and 36 satellites for an unnamed GEO customer starting in 2025.

MDA won a 2022 contract to build Globalstar’s third-generation low Earth orbit network with financial backing from Apple.

Apple has used Globalstar’s current network of 31 L-band satellites since 2022 to enable iPhones to access emergency services when terrestrial networks are unavailable.

Apple will inject $1,700,000,000 for a new Globalstar constellation to improve space-based communications for iPhones.

After Apple agreed in 2022 to cover most of the costs to replenish Globalstar’s constellation, Globalstar awarded MDA a $327,000,000 contract to build 17 satellites.

The article was updated 2024-11-04 to correct details about the $232,000,000 Globalstar would be getting from Apple to reduce debt.

Apple will make $1,100,000,000 in staggered cash prepayments to Globalstar to help fund the new network.

Apple would take a 20% equity stake in the new Globalstar constellation for $400,000,000 if the deal closes as expected 2024-11-05.

Apple is providing about $232,000,000 to Globalstar to refinance debt due in 2029.

Apple will invest $1,100,000,000 in satellite communications company Globalstar alongside a further $400,000,000 for a 20% equity stake in the business.

Globalstar will use the $1,100,000,000 in preservice payments to deliver a new satellite service constellation, expand ground infrastructure, and increase global mobile satellite services (MSS) licensing.