Income Statement Research
Review the full annual statement in one scroll, from headline results to detailed SEC line items, margin conversion, and growth diagnostics.
Commentary
A written read of the filing-backed figures above. The statement itself remains the source of truth.
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Over the past five years, Globalstar, Inc. has experienced a marked improvement in its revenue base despite ongoing challenges with profitability. Revenue grew from approximately 124.3 million USD in 2021 to 273.0 million USD in 2025, representing a consistent upward trend and reflecting a significant jump of nearly 50% from 2022’s 148.5 million USD to 223.8 million USD in 2023. However, gross profit and operating income exhibited extreme volatility. In 2021, both gross profit and operating income were deeply negative (-65.5 million USD). The situation worsened in 2022 with figures plunging to -221.0 million USD before showing a dramatic turnaround in 2023 where the losses nearly evaporated (-0.165 million USD), improved slightly in 2024, and then reached a positive inflection point of 7.43 million USD in 2025. Net income followed a similar erratic pathway, escalating to a significant loss of -256.9 million USD in 2022, then markedly recovering to -24.7 million USD in 2023 before settling near break-even levels at -8.65 million USD in 2025. This data-driven analysis suggests that Globalstar has managed to harness its expanding revenue base to gradually mitigate its operational losses. The year-over-year swings, particularly the >20% changes moving from 2022’s steep downturn to subsequent near break-even results, indicate that the company may have implemented improved cost controls or operational efficiencies amid challenging market conditions. Although rising revenues and narrowing losses are positive indicators, the persistence of net losses underscores ongoing concerns regarding profitability. Overall, while the upward revenue trend offers an encouraging signal, continued focus on cost management and margin improvement will be critical for ensuring sustainability and long-term financial health in a competitive industry landscape.
This analysis is for informational purposes only and does not constitute financial advice or a recommendation for any investment decision. Please consult a qualified financial professional for personalised guidance.
Snapshot
GLOBALSTAR, INC.'s top line, gross profit, operating income, and bottom-line conversion. Values in USD millions.
Revenue
+21.7%Compound growth, FY2021 to FY2025
Gross profit
FY2025Latest annual filing, FY2025
Operating Income
FY2025Latest annual filing, FY2025
Net income
FY2025Latest annual filing, FY2025
Headline results
Four lines, five fiscal years, straight from the filings.
GLOBALSTAR, INC. headline income statement — FY2025
Trend
The same four lines drawn across the window.
All values shown in USD millions unless noted otherwise.
Line items
The full annual income statement layer for GLOBALSTAR, INC., from revenue down to share counts.
Statement basis
USD millions, except per-share and share-count rows.
GLOBALSTAR, INC. expanded income statement — FY2025
Expanded annual statement lines sourced from the SEC EDGAR database for GLOBALSTAR, INC..
Margins
How much of GLOBALSTAR, INC.'s revenue survives through gross profit, operating income, and net income.
Gross margin
N/AFY2025, versus FY2021
Operating Margin
+5542 bpsFY2025, versus FY2021
Net income margin
+8744 bpsFY2025, versus FY2021
Observation window
yearsFY2021 through FY2025
Margin table
Side-by-side read of gross, operating and net margin.
GLOBALSTAR, INC. margins — FY2025
Margin trend
The shape of profitability across the window.
Margins are calculated from annual SEC facts using reported revenue as the denominator.
Year on year
Every headline line of GLOBALSTAR, INC.'s statement measured against the immediately prior period.
Revenue YoY
FY2024FY2025 versus FY2024
Gross profit YoY
FY2024FY2025 versus FY2024
Op. income YoY
FY2024FY2025 versus FY2024
Net income YoY
FY2024FY2025 versus FY2024
Year-on-year table
Contractions are tinted so slowdowns are obvious.
GLOBALSTAR, INC. year-on-year change — FY2025
Momentum
Whether the business is accelerating or rolling over.
Year-on-year change compares each annual period against the immediately prior year inside the selected window.
Compound growth
Compounded annual growth from FY2021 to FY2025, which filters out one-year noise.
Revenue CAGR
4yrFY2021 to FY2025
Gross profit CAGR
4yrFY2021 to FY2025
Op. income CAGR
4yrFY2021 to FY2025
Net income CAGR
4yrFY2021 to FY2025
Compound rates use the first and last reported year in the window, so a gap in either endpoint suppresses the figure.
