Globalstar Inc (AMEX:GSAT)
$ 1.2 0.03 (2.56%) Market Cap: 2.26 Bil Enterprise Value: 2.57 Bil PE Ratio: 0 PB Ratio: 6.00 GF Score: 77/100
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Q2 2023 Globalstar Inc Earnings Call Transcript

Aug 03, 2023 / 01:00PM GMT
Release Date Price: $1.17 (+4.46%)
Operator

Good morning, and welcome to the Globalstar Second Quarter 2023 Earnings Conference Call. I will now turn the call over to Jay Monroe.

James Monroe
Globalstar, Inc. - Executive Chairman

Thanks, everybody, for joining today's Globalstar's Second Quarter 2023 Investor Call.

In keeping with recent practice, I will make very brief opening remarks, and then we'll move straight to Q&A.

But first, please note that today's call contains forward-looking statements intended to fall within the safe harbor provided under the securities laws. Factors that could cause the results to differ materially are described in the forward-looking statements and Risk Factors section of Globalstar's SEC filings including its annual report on Form 10-K and for the financial year ending 2022 as well as this morning's earnings release.

As outlined in the release, Globalstar continued to see robust growth and a significant improvement in profitability, resulting in a 50% increase in revenue over the prior year's quarter. Adjusted EBITDA was up 86% over the

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