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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
DULUTH HOLDINGS INC. is the larger business by last-quarter revenue ($114.9M vs $72.0M, roughly 1.6× Globalstar, Inc.). DULUTH HOLDINGS INC. runs the higher net margin — -8.8% vs -16.1%, a 7.4% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -9.6%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
DLTH vs GSAT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $72.0M |
| Net Profit | $-10.1M | $-11.6M |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | -0.5% |
| Net Margin | -8.8% | -16.1% |
| Revenue YoY | -9.6% | 17.6% |
| Net Profit YoY | 64.6% | 76.9% |
| EPS (diluted) | $-0.29 | $-0.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $114.9M | $72.0M | ||
| Q3 25 | $131.7M | $73.8M | ||
| Q2 25 | $102.7M | $67.1M | ||
| Q1 25 | $241.3M | $60.0M | ||
| Q4 24 | $127.1M | $61.2M | ||
| Q3 24 | $141.6M | $72.3M | ||
| Q2 24 | $116.7M | $60.4M | ||
| Q1 24 | $245.6M | $56.5M |
| Q4 25 | $-10.1M | $-11.6M | ||
| Q3 25 | $1.3M | $1.1M | ||
| Q2 25 | $-15.3M | $19.2M | ||
| Q1 25 | $-5.6M | $-17.3M | ||
| Q4 24 | $-28.2M | $-50.2M | ||
| Q3 24 | $-2.0M | $9.9M | ||
| Q2 24 | $-7.9M | $-9.7M | ||
| Q1 24 | $6.4M | $-13.2M |
| Q4 25 | 53.8% | — | ||
| Q3 25 | 54.7% | — | ||
| Q2 25 | 52.0% | — | ||
| Q1 25 | 44.1% | — | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 52.3% | — | ||
| Q2 24 | 52.8% | — | ||
| Q1 24 | 48.2% | — |
| Q4 25 | -7.7% | -0.5% | ||
| Q3 25 | 1.8% | 13.8% | ||
| Q2 25 | -12.0% | 9.2% | ||
| Q1 25 | -1.8% | -14.2% | ||
| Q4 24 | -17.4% | -6.9% | ||
| Q3 24 | -1.1% | 13.0% | ||
| Q2 24 | -7.7% | -2.4% | ||
| Q1 24 | 3.6% | -8.3% |
| Q4 25 | -8.8% | -16.1% | ||
| Q3 25 | 1.0% | 1.5% | ||
| Q2 25 | -14.9% | 28.6% | ||
| Q1 25 | -2.3% | -28.9% | ||
| Q4 24 | -22.2% | -82.1% | ||
| Q3 24 | -1.4% | 13.7% | ||
| Q2 24 | -6.7% | -16.0% | ||
| Q1 24 | 2.6% | -23.4% |
| Q4 25 | $-0.29 | $-0.11 | ||
| Q3 25 | $0.04 | $-0.01 | ||
| Q2 25 | $-0.45 | $0.13 | ||
| Q1 25 | $-0.17 | $-0.16 | ||
| Q4 24 | $-0.84 | $-0.57 | ||
| Q3 24 | $-0.06 | $0.00 | ||
| Q2 24 | $-0.24 | $-0.01 | ||
| Q1 24 | $0.20 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.2M | $447.5M |
| Total DebtLower is stronger | — | $483.8M |
| Stockholders' EquityBook value | $160.6M | $355.7M |
| Total Assets | $468.0M | $2.3B |
| Debt / EquityLower = less leverage | — | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $447.5M | ||
| Q3 25 | $5.7M | $346.3M | ||
| Q2 25 | $8.6M | $308.2M | ||
| Q1 25 | $3.3M | $241.4M | ||
| Q4 24 | $9.3M | $391.2M | ||
| Q3 24 | $9.8M | $51.9M | ||
| Q2 24 | $6.8M | $64.3M | ||
| Q1 24 | $32.2M | $59.3M |
| Q4 25 | — | $483.8M | ||
| Q3 25 | — | $508.6M | ||
| Q2 25 | — | $491.5M | ||
| Q1 25 | — | $502.7M | ||
| Q4 24 | — | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | — | $398.7M |
| Q4 25 | $160.6M | $355.7M | ||
| Q3 25 | $170.0M | $364.8M | ||
| Q2 25 | $167.9M | $360.9M | ||
| Q1 25 | $182.7M | $344.3M | ||
| Q4 24 | $188.1M | $358.9M | ||
| Q3 24 | $215.7M | $394.1M | ||
| Q2 24 | $218.4M | $383.0M | ||
| Q1 24 | $222.8M | $377.1M |
| Q4 25 | $468.0M | $2.3B | ||
| Q3 25 | $433.8M | $2.2B | ||
| Q2 25 | $463.7M | $1.9B | ||
| Q1 25 | $452.4M | $1.7B | ||
| Q4 24 | $533.1M | $1.7B | ||
| Q3 24 | $488.6M | $917.6M | ||
| Q2 24 | $471.4M | $926.2M | ||
| Q1 24 | $491.2M | $917.0M |
| Q4 25 | — | 1.36× | ||
| Q3 25 | — | 1.39× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | — | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.7M | $175.9M |
| Free Cash FlowOCF − Capex | $-8.9M | — |
| FCF MarginFCF / Revenue | -7.8% | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $175.9M | ||
| Q3 25 | $32.0M | $236.0M | ||
| Q2 25 | $-56.5M | $157.9M | ||
| Q1 25 | $41.2M | $51.9M | ||
| Q4 24 | $-41.1M | $340.7M | ||
| Q3 24 | $16.6M | $32.0M | ||
| Q2 24 | $-33.7M | $36.7M | ||
| Q1 24 | $69.7M | $29.8M |
| Q4 25 | $-8.9M | — | ||
| Q3 25 | $29.8M | — | ||
| Q2 25 | $-57.8M | — | ||
| Q1 25 | $38.7M | — | ||
| Q4 24 | $-43.7M | — | ||
| Q3 24 | $15.0M | — | ||
| Q2 24 | $-35.2M | — | ||
| Q1 24 | $60.6M | — |
| Q4 25 | -7.8% | — | ||
| Q3 25 | 22.6% | — | ||
| Q2 25 | -56.3% | — | ||
| Q1 25 | 16.0% | — | ||
| Q4 24 | -34.4% | — | ||
| Q3 24 | 10.6% | — | ||
| Q2 24 | -30.2% | — | ||
| Q1 24 | 24.7% | — |
| Q4 25 | 2.0% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 1.0% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 1.2% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 3.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | 216.53× | ||
| Q2 25 | — | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.86× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
