Globalstar Q2 2026 earnings: Higher costs drive an operating loss

Globalstar (GSAT) reported Q2 2026 revenue of $64.8 million, down about 4% year over year, and diluted EPS of -$0.23 versus $0.13. Adjusted EBITDA declined 27% to $26.0 million as higher network, XCOM development and transaction-related costs outweighed Commercial IoT growth and higher equipment sales. The prior-year quarter also included $6.6 million of out-of-period wholesale capacity revenue. For the first half, adjusted free cash flow fell to $43.5 million while capital expenditures reached $208.3 million amid continued satellite and ground-network investment.