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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $58.0M, roughly 1.2× indie Semiconductor, Inc.). Globalstar, Inc. runs the higher net margin — -16.1% vs -53.8%, a 37.7% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -0.0%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs 5.3%).
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.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
GSAT vs INDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $58.0M |
| Net Profit | $-11.6M | $-31.2M |
| Gross Margin | — | 37.3% |
| Operating Margin | -0.5% | -58.5% |
| Net Margin | -16.1% | -53.8% |
| Revenue YoY | 17.6% | -0.0% |
| Net Profit YoY | 76.9% | 9.1% |
| EPS (diluted) | $-0.11 | $-0.16 |
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 | $72.0M | $58.0M | ||
| Q3 25 | $73.8M | $53.7M | ||
| Q2 25 | $67.1M | $51.6M | ||
| Q1 25 | $60.0M | $54.1M | ||
| Q4 24 | $61.2M | $58.0M | ||
| Q3 24 | $72.3M | $54.0M | ||
| Q2 24 | $60.4M | $52.4M | ||
| Q1 24 | $56.5M | $52.4M |
| Q4 25 | $-11.6M | $-31.2M | ||
| Q3 25 | $1.1M | $-38.3M | ||
| Q2 25 | $19.2M | $-39.0M | ||
| Q1 25 | $-17.3M | $-34.5M | ||
| Q4 24 | $-50.2M | $-34.4M | ||
| Q3 24 | $9.9M | $-49.7M | ||
| Q2 24 | $-9.7M | $-19.2M | ||
| Q1 24 | $-13.2M | $-31.2M |
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 40.1% | ||
| Q2 25 | — | 40.6% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | — | 42.6% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 42.2% | ||
| Q1 24 | — | 42.5% |
| Q4 25 | -0.5% | -58.5% | ||
| Q3 25 | 13.8% | -71.4% | ||
| Q2 25 | 9.2% | -83.3% | ||
| Q1 25 | -14.2% | -72.0% | ||
| Q4 24 | -6.9% | -58.4% | ||
| Q3 24 | 13.0% | -92.5% | ||
| Q2 24 | -2.4% | -70.0% | ||
| Q1 24 | -8.3% | -94.8% |
| Q4 25 | -16.1% | -53.8% | ||
| Q3 25 | 1.5% | -71.3% | ||
| Q2 25 | 28.6% | -75.6% | ||
| Q1 25 | -28.9% | -63.9% | ||
| Q4 24 | -82.1% | -59.2% | ||
| Q3 24 | 13.7% | -92.1% | ||
| Q2 24 | -16.0% | -36.6% | ||
| Q1 24 | -23.4% | -59.6% |
| Q4 25 | $-0.11 | $-0.16 | ||
| Q3 25 | $-0.01 | $-0.19 | ||
| Q2 25 | $0.13 | $-0.20 | ||
| Q1 25 | $-0.16 | $-0.18 | ||
| Q4 24 | $-0.57 | $-0.18 | ||
| Q3 24 | $0.00 | $-0.28 | ||
| Q2 24 | $-0.01 | $-0.11 | ||
| Q1 24 | $-0.01 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $447.5M | $145.5M |
| Total DebtLower is stronger | $483.8M | $353.4M |
| Stockholders' EquityBook value | $355.7M | $358.0M |
| Total Assets | $2.3B | $840.8M |
| Debt / EquityLower = less leverage | 1.36× | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $145.5M | ||
| Q3 25 | $346.3M | $160.9M | ||
| Q2 25 | $308.2M | $192.6M | ||
| Q1 25 | $241.4M | $236.6M | ||
| Q4 24 | $391.2M | $274.2M | ||
| Q3 24 | $51.9M | $96.9M | ||
| Q2 24 | $64.3M | $112.3M | ||
| Q1 24 | $59.3M | $138.2M |
| Q4 25 | $483.8M | $353.4M | ||
| Q3 25 | $508.6M | $353.5M | ||
| Q2 25 | $491.5M | $352.5M | ||
| Q1 25 | $502.7M | $379.0M | ||
| Q4 24 | $511.4M | $381.3M | ||
| Q3 24 | $394.4M | — | ||
| Q2 24 | $393.1M | — | ||
| Q1 24 | $398.7M | — |
| Q4 25 | $355.7M | $358.0M | ||
| Q3 25 | $364.8M | $369.2M | ||
| Q2 25 | $360.9M | $390.4M | ||
| Q1 25 | $344.3M | $405.6M | ||
| Q4 24 | $358.9M | $417.9M | ||
| Q3 24 | $394.1M | $458.6M | ||
| Q2 24 | $383.0M | $470.7M | ||
| Q1 24 | $377.1M | $432.9M |
| Q4 25 | $2.3B | $840.8M | ||
| Q3 25 | $2.2B | $855.1M | ||
| Q2 25 | $1.9B | $867.6M | ||
| Q1 25 | $1.7B | $909.0M | ||
| Q4 24 | $1.7B | $941.4M | ||
| Q3 24 | $917.6M | $797.5M | ||
| Q2 24 | $926.2M | $797.3M | ||
| Q1 24 | $917.0M | $803.6M |
| Q4 25 | 1.36× | 0.99× | ||
| Q3 25 | 1.39× | 0.96× | ||
| Q2 25 | 1.36× | 0.90× | ||
| Q1 25 | 1.46× | 0.93× | ||
| Q4 24 | 1.43× | 0.91× | ||
| 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 | $175.9M | $-14.4M |
| Free Cash FlowOCF − Capex | — | $-16.1M |
| FCF MarginFCF / Revenue | — | -27.8% |
| Capex IntensityCapex / Revenue | — | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $-14.4M | ||
| Q3 25 | $236.0M | $-6.2M | ||
| Q2 25 | $157.9M | $-7.6M | ||
| Q1 25 | $51.9M | $-29.0M | ||
| Q4 24 | $340.7M | $-6.7M | ||
| Q3 24 | $32.0M | $-22.8M | ||
| Q2 24 | $36.7M | $-19.7M | ||
| Q1 24 | $29.8M | $-9.3M |
| Q4 25 | — | $-16.1M | ||
| Q3 25 | — | $-10.3M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | — | $-31.4M | ||
| Q4 24 | — | $-8.6M | ||
| Q3 24 | — | $-29.3M | ||
| Q2 24 | — | $-23.4M | ||
| Q1 24 | — | $-11.7M |
| Q4 25 | — | -27.8% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | -26.4% | ||
| Q1 25 | — | -58.0% | ||
| Q4 24 | — | -14.8% | ||
| Q3 24 | — | -54.3% | ||
| Q2 24 | — | -44.7% | ||
| Q1 24 | — | -22.3% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 11.6% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | — | 3.2% | ||
| Q3 24 | — | 12.1% | ||
| Q2 24 | — | 7.0% | ||
| Q1 24 | — | 4.4% |
| Q4 25 | — | — | ||
| Q3 25 | 216.53× | — | ||
| Q2 25 | 8.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.23× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
