GSATGlobalstar, Inc.
Communications Services, NEC · $10.4B market cap · 477 employees
0.5×
Less likely than average to be taken private
Top 37% of the Russell 3000 for a buyout by a private-equity firm, holdco or insiders. How it works
Takeover signals
What an activist or buyer would see: cheap, overpaid, diluted or under pressure.
4of 15 firedHow well they predict deals →
- Quiet on AIYes0.5 per 10K words · 21st pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.5× EBITDAMore cash than debt, positive EBITDA
- Active 13DYes1 filingActive-intent 13D in 18 months
- Net insider sellingYes−$37M netNet sales over $10M in 12 months
11 other checks
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo9% of revenueOver 10% of revenue
- Payouts exceed cash flowNo2% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo91% lowest supportAny vote under 80% support
- Low revenue per employeeNo$572K · 52nd pctBottom quartile of its SIC industry
- Buyout-sizedNo$10.4B market capMarket cap $500M–$5B
- Recurring revenueNo6 of 1010-K business scored 7+ of 10 for recurring revenue
- AI-rollup shapedNo1 of 1010-K business scored 5+ of 10 as an AI-rollup target
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Apr 14, 2026 | 8-K | Amazon.com, Inc. | — | — |
Key numbers
- Revenue
- $273M
- 9.0% YoY
- Operating margin
- 2.7%
- 818% YoY
- EBITDA
- $94M
- 7.5% YoY
- Net debt / EBITDA
- -0.5×
- −$51M net debt
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $124M | $149M | $224M | $250M | $273M | 9.0% |
| Operating income | −$66M | −$221M | −$165K | −$949K | $7M | 883% |
| Net income | −$113M | −$257M | −$25M | −$63M | −$9M | 86% |
| Operating cash flow | $132M | $64M | $74M | $439M | $622M | 42% |
| Stock-based comp | $7M | $11M | $22M | $36M | $23M | 34% |
| Dividends | $0 | $0 | $12M | $11M | $11M | 0.3% |
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Apr 15, 2026 | FL INVESTMENT HOLDINGS LLC | SCHEDULE 13D/A | 19.0% | Active |
| Sep 12, 2022 | Globalstar, Inc. | SC 13D/A | 21.0% | Passive |
| Sep 7, 2022 | Globalstar, Inc. | SC 13D/A | 21.0% | Passive |
| Feb 25, 2020 | Globalstar, Inc. | SC 13D/A | 13.8% | Passive |
| Jan 3, 2020 | Globalstar, Inc. | SC 13D/A | 0.0% | Passive |
| May 10, 2019 | Mudrick Capital Management, L.P. | SC 13D/A | 0.2% | Passive |
| Jan 4, 2019 | FL INVESTMENT HOLDINGS LLC | SC 13D/A | 9.8% | Passive |
Insider trading
−$37Mnet selling by insiders, open market, last 12 months
Bought $30M · 1 tradeSold $67M · 40 trades
Pay vs performance
No pay-versus-performance disclosure yet.