vs
Side-by-side financial comparison of Globalstar, Inc. (GSAT) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Shoals Technologies Group, Inc. is the larger business by last-quarter revenue ($140.6M vs $72.0M, roughly 2.0× Globalstar, Inc.). Shoals Technologies Group, Inc. runs the higher net margin — -0.2% vs -16.1%, a 15.9% gap on every dollar of revenue. On growth, Shoals Technologies Group, Inc. posted the faster year-over-year revenue change (74.9% vs 17.6%). Over the past eight quarters, Shoals Technologies Group, Inc.'s revenue compounded faster (19.0% CAGR vs 12.9%).
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.
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
GSAT vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $140.6M |
| Net Profit | $-11.6M | $-297.0K |
| Gross Margin | — | 29.2% |
| Operating Margin | -0.5% | 5.5% |
| Net Margin | -16.1% | -0.2% |
| Revenue YoY | 17.6% | 74.9% |
| Net Profit YoY | 76.9% | -5.3% |
| EPS (diluted) | $-0.11 | $0.00 |
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.
| Q1 26 | — | $140.6M | ||
| Q4 25 | $72.0M | $148.3M | ||
| Q3 25 | $73.8M | $135.8M | ||
| Q2 25 | $67.1M | $110.8M | ||
| Q1 25 | $60.0M | $80.4M | ||
| Q4 24 | $61.2M | $107.0M | ||
| Q3 24 | $72.3M | $102.2M | ||
| Q2 24 | $60.4M | $99.2M |
| Q1 26 | — | $-297.0K | ||
| Q4 25 | $-11.6M | $8.1M | ||
| Q3 25 | $1.1M | $11.9M | ||
| Q2 25 | $19.2M | $13.9M | ||
| Q1 25 | $-17.3M | $-282.0K | ||
| Q4 24 | $-50.2M | $7.8M | ||
| Q3 24 | $9.9M | $-267.0K | ||
| Q2 24 | $-9.7M | $11.8M |
| Q1 26 | — | 29.2% | ||
| Q4 25 | — | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 40.3% |
| Q1 26 | — | 5.5% | ||
| Q4 25 | -0.5% | 11.7% | ||
| Q3 25 | 13.8% | 13.7% | ||
| Q2 25 | 9.2% | 14.4% | ||
| Q1 25 | -14.2% | 5.4% | ||
| Q4 24 | -6.9% | 15.4% | ||
| Q3 24 | 13.0% | 4.4% | ||
| Q2 24 | -2.4% | 18.7% |
| Q1 26 | — | -0.2% | ||
| Q4 25 | -16.1% | 5.5% | ||
| Q3 25 | 1.5% | 8.7% | ||
| Q2 25 | 28.6% | 12.5% | ||
| Q1 25 | -28.9% | -0.4% | ||
| Q4 24 | -82.1% | 7.3% | ||
| Q3 24 | 13.7% | -0.3% | ||
| Q2 24 | -16.0% | 11.9% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $-0.11 | $0.05 | ||
| Q3 25 | $-0.01 | $0.07 | ||
| Q2 25 | $0.13 | $0.08 | ||
| Q1 25 | $-0.16 | $0.00 | ||
| Q4 24 | $-0.57 | $0.04 | ||
| Q3 24 | $0.00 | $0.00 | ||
| Q2 24 | $-0.01 | $0.07 |
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 | $1.9M |
| Total DebtLower is stronger | $483.8M | — |
| Stockholders' EquityBook value | $355.7M | $601.6M |
| Total Assets | $2.3B | $1.0B |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.9M | ||
| Q4 25 | $447.5M | $7.3M | ||
| Q3 25 | $346.3M | $8.6M | ||
| Q2 25 | $308.2M | $4.7M | ||
| Q1 25 | $241.4M | $35.6M | ||
| Q4 24 | $391.2M | $23.5M | ||
| Q3 24 | $51.9M | $11.1M | ||
| Q2 24 | $64.3M | $3.2M |
| Q1 26 | — | — | ||
| Q4 25 | $483.8M | — | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | $141.8M | ||
| Q4 24 | $511.4M | $141.8M | ||
| Q3 24 | $394.4M | $141.8M | ||
| Q2 24 | $393.1M | $146.8M |
| Q1 26 | — | $601.6M | ||
| Q4 25 | $355.7M | $600.0M | ||
| Q3 25 | $364.8M | $589.6M | ||
| Q2 25 | $360.9M | $575.4M | ||
| Q1 25 | $344.3M | $558.9M | ||
| Q4 24 | $358.9M | $556.8M | ||
| Q3 24 | $394.1M | $545.2M | ||
| Q2 24 | $383.0M | $544.6M |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $2.3B | $904.1M | ||
| Q3 25 | $2.2B | $851.8M | ||
| Q2 25 | $1.9B | $795.0M | ||
| Q1 25 | $1.7B | $788.4M | ||
| Q4 24 | $1.7B | $793.1M | ||
| Q3 24 | $917.6M | $801.3M | ||
| Q2 24 | $926.2M | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | 0.25× | ||
| Q4 24 | 1.43× | 0.25× | ||
| Q3 24 | 1.00× | 0.26× | ||
| Q2 24 | 1.03× | 0.27× |
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 | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $175.9M | $-4.1M | ||
| Q3 25 | $236.0M | $19.4M | ||
| Q2 25 | $157.9M | $-13.8M | ||
| Q1 25 | $51.9M | $15.6M | ||
| Q4 24 | $340.7M | $14.0M | ||
| Q3 24 | $32.0M | $15.7M | ||
| Q2 24 | $36.7M | $37.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-11.3M | ||
| Q3 25 | — | $9.0M | ||
| Q2 25 | — | $-26.0M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | — | $13.3M | ||
| Q2 24 | — | $35.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | -7.6% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | -23.5% | ||
| Q1 25 | — | 15.4% | ||
| Q4 24 | — | 11.6% | ||
| Q3 24 | — | 13.0% | ||
| Q2 24 | — | 36.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 11.0% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 2.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.50× | ||
| Q3 25 | 216.53× | 1.63× | ||
| Q2 25 | 8.22× | -1.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | 3.23× | — | ||
| Q2 24 | — | 3.21× |
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% |
SHLS
Segment breakdown not available.
