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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $15.8M, roughly 4.5× Spire Global, Inc.). Globalstar, Inc. runs the higher net margin — -16.1% vs -176.6%, a 160.5% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs -26.9%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -32.6%).
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.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
GSAT vs SPIR — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $15.8M |
| Net Profit | $-11.6M | $-28.0M |
| Gross Margin | — | 40.2% |
| Operating Margin | -0.5% | -164.1% |
| Net Margin | -16.1% | -176.6% |
| Revenue YoY | 17.6% | -26.9% |
| Net Profit YoY | 76.9% | 42.7% |
| EPS (diluted) | $-0.11 | $-0.85 |
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 | $15.8M | ||
| Q3 25 | $73.8M | $12.7M | ||
| Q2 25 | $67.1M | $19.2M | ||
| Q1 25 | $60.0M | $23.9M | ||
| Q4 24 | $61.2M | $21.7M | ||
| Q3 24 | $72.3M | $28.6M | ||
| Q2 24 | $60.4M | $25.4M | ||
| Q1 24 | $56.5M | $34.8M |
| Q4 25 | $-11.6M | $-28.0M | ||
| Q3 25 | $1.1M | $-19.7M | ||
| Q2 25 | $19.2M | $119.6M | ||
| Q1 25 | $-17.3M | $-20.7M | ||
| Q4 24 | $-50.2M | $-48.8M | ||
| Q3 24 | $9.9M | $-12.5M | ||
| Q2 24 | $-9.7M | $-16.6M | ||
| Q1 24 | $-13.2M | $-25.5M |
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | -0.5% | -164.1% | ||
| Q3 25 | 13.8% | -166.1% | ||
| Q2 25 | 9.2% | -122.7% | ||
| Q1 25 | -14.2% | -106.5% | ||
| Q4 24 | -6.9% | -144.1% | ||
| Q3 24 | 13.0% | -48.0% | ||
| Q2 24 | -2.4% | -48.6% | ||
| Q1 24 | -8.3% | -34.4% |
| Q4 25 | -16.1% | -176.6% | ||
| Q3 25 | 1.5% | -155.3% | ||
| Q2 25 | 28.6% | 623.4% | ||
| Q1 25 | -28.9% | -86.5% | ||
| Q4 24 | -82.1% | -225.2% | ||
| Q3 24 | 13.7% | -43.7% | ||
| Q2 24 | -16.0% | -65.2% | ||
| Q1 24 | -23.4% | -73.3% |
| Q4 25 | $-0.11 | $-0.85 | ||
| Q3 25 | $-0.01 | $-0.61 | ||
| Q2 25 | $0.13 | $3.72 | ||
| Q1 25 | $-0.16 | $-0.77 | ||
| Q4 24 | $-0.57 | $-1.93 | ||
| Q3 24 | $0.00 | $-0.50 | ||
| Q2 24 | $-0.01 | $-0.68 | ||
| Q1 24 | $-0.01 | $-1.17 |
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 | $81.8M |
| Total DebtLower is stronger | $483.8M | — |
| Stockholders' EquityBook value | $355.7M | $112.9M |
| Total Assets | $2.3B | $211.0M |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $81.8M | ||
| Q3 25 | $346.3M | $96.8M | ||
| Q2 25 | $308.2M | $117.6M | ||
| Q1 25 | $241.4M | $35.9M | ||
| Q4 24 | $391.2M | $19.2M | ||
| Q3 24 | $51.9M | $36.6M | ||
| Q2 24 | $64.3M | $45.8M | ||
| Q1 24 | $59.3M | $63.7M |
| Q4 25 | $483.8M | — | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | $103.7M | ||
| Q4 24 | $511.4M | $103.1M | ||
| Q3 24 | $394.4M | $4.9M | ||
| Q2 24 | $393.1M | $4.9M | ||
| Q1 24 | $398.7M | $123.1M |
| Q4 25 | $355.7M | $112.9M | ||
| Q3 25 | $364.8M | $133.1M | ||
| Q2 25 | $360.9M | $149.2M | ||
| Q1 25 | $344.3M | $3.7M | ||
| Q4 24 | $358.9M | $-11.7M | ||
| Q3 24 | $394.1M | $30.8M | ||
| Q2 24 | $383.0M | $40.3M | ||
| Q1 24 | $377.1M | $52.5M |
| Q4 25 | $2.3B | $211.0M | ||
| Q3 25 | $2.2B | $224.3M | ||
| Q2 25 | $1.9B | $239.5M | ||
| Q1 25 | $1.7B | $208.8M | ||
| Q4 24 | $1.7B | $193.6M | ||
| Q3 24 | $917.6M | $224.2M | ||
| Q2 24 | $926.2M | $230.8M | ||
| Q1 24 | $917.0M | $252.3M |
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | 27.92× | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.00× | 0.16× | ||
| Q2 24 | 1.03× | 0.12× | ||
| Q1 24 | 1.06× | 2.35× |
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 | $-4.3M |
| Free Cash FlowOCF − Capex | — | $-16.2M |
| FCF MarginFCF / Revenue | — | -102.1% |
| Capex IntensityCapex / Revenue | — | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $-4.3M | ||
| Q3 25 | $236.0M | $-12.0M | ||
| Q2 25 | $157.9M | $-35.1M | ||
| Q1 25 | $51.9M | $-8.4M | ||
| Q4 24 | $340.7M | $-19.2M | ||
| Q3 24 | $32.0M | $14.0M | ||
| Q2 24 | $36.7M | $-4.4M | ||
| Q1 24 | $29.8M | $-8.8M |
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | — | $-38.7M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $-24.3M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $-9.9M | ||
| Q1 24 | — | $-15.9M |
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | — | -201.7% | ||
| Q1 25 | — | -72.6% | ||
| Q4 24 | — | -112.2% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | -39.0% | ||
| Q1 24 | — | -45.7% |
| Q4 25 | — | 75.1% | ||
| Q3 25 | — | 66.2% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 37.3% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 31.2% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | 216.53× | — | ||
| Q2 25 | 8.22× | -0.29× | ||
| 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% |
SPIR
Segment breakdown not available.
