Globalstar Inc. Advances Satellite Expansion Plans

Globalstar Inc., a communication services company based in Covington, United States, has recently made significant strides in its satellite expansion efforts. The Federal Communications Commission (FCC) has accepted the company’s petition to expand its mobile satellite services network. This approval is a crucial step forward in Globalstar’s strategic plans, potentially enhancing its operations and growth prospects.

The company, which operates within the Communication Services sector and the Diversified Telecommunication Services industry, offers mobile voice and data communications services via satellite. Its primary customer base includes businesses, government entities, and individuals located in remote areas worldwide.

Financial Overview

As of June 3, 2025, Globalstar Inc.’s close price stood at $19.62. The company’s market capitalization is approximately $2.34 billion. Over the past year, the stock has experienced fluctuations, reaching a 52-week high of $41.1 on December 9, 2024, and a low of $15 on October 23, 2024. The price-to-earnings ratio is currently at -28.14, reflecting the company’s financial performance dynamics.

Strategic Developments

In addition to the FCC’s approval, Globalstar has entered into a significant contract with DXN Limited. This agreement involves the delivery of high-spec modular data centers, valued at approximately AU$4.6 million. This partnership is expected to bolster Globalstar’s infrastructure capabilities, further strengthening its position in the telecommunications industry.

These developments indicate a positive trajectory for Globalstar Inc., as it continues to expand its services and infrastructure to meet the growing demand for satellite-based communication solutions.