Mobile satellite service operator Globalstar: Q1 revenue up, net loss down, MDA/Rocket Lab payments up to date

by Peter B. de Selding

PARIS — Mobile satellite services provider Globalstar Inc., its transformational direct-to-smartphone contract with Apple now kicking in with cash, reported a 79% increase in revenue for the three months ending March 31 and a sharp decrease in its net loss.

Globalstar said the agreement with Apple — its “Partner” in Globalstar’s financial filings as the company still shies away from using the Apple name — was responsible for 52% of Q1 revenue, which totaled $58.64 million, up from $32.8 million for the same period a year ago . . .

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