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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $51.6M, roughly 1.4× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -16.1%, a 83.5% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 17.6%). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
GSAT vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $51.6M |
| Net Profit | $-11.6M | $34.8M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | 97.0% |
| Net Margin | -16.1% | 67.3% |
| Revenue YoY | 17.6% | 32.8% |
| Net Profit YoY | 76.9% | 67.0% |
| EPS (diluted) | $-0.11 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $73.8M | $49.1M | ||
| Q2 25 | $67.1M | $47.6M | ||
| Q1 25 | $60.0M | $37.5M | ||
| Q4 24 | $61.2M | $38.9M | ||
| Q3 24 | $72.3M | $35.1M | ||
| Q2 24 | $60.4M | $32.4M | ||
| Q1 24 | $56.5M | $29.5M |
| Q4 25 | $-11.6M | $34.8M | ||
| Q3 25 | $1.1M | $25.4M | ||
| Q2 25 | $19.2M | $26.0M | ||
| Q1 25 | $-17.3M | $18.9M | ||
| Q4 24 | $-50.2M | $20.8M | ||
| Q3 24 | $9.9M | $15.8M | ||
| Q2 24 | $-9.7M | $14.8M | ||
| Q1 24 | $-13.2M | $17.3M |
| Q4 25 | -0.5% | 97.0% | ||
| Q3 25 | 13.8% | 72.1% | ||
| Q2 25 | 9.2% | 71.3% | ||
| Q1 25 | -14.2% | 71.7% | ||
| Q4 24 | -6.9% | 82.5% | ||
| Q3 24 | 13.0% | 60.6% | ||
| Q2 24 | -2.4% | 61.3% | ||
| Q1 24 | -8.3% | 78.8% |
| Q4 25 | -16.1% | 67.3% | ||
| Q3 25 | 1.5% | 51.7% | ||
| Q2 25 | 28.6% | 54.6% | ||
| Q1 25 | -28.9% | 50.4% | ||
| Q4 24 | -82.1% | 53.5% | ||
| Q3 24 | 13.7% | 45.1% | ||
| Q2 24 | -16.0% | 45.6% | ||
| Q1 24 | -23.4% | 58.5% |
| Q4 25 | $-0.11 | $0.90 | ||
| Q3 25 | $-0.01 | $0.65 | ||
| Q2 25 | $0.13 | $0.69 | ||
| Q1 25 | $-0.16 | $0.51 | ||
| Q4 24 | $-0.57 | $0.56 | ||
| Q3 24 | $0.00 | $0.44 | ||
| Q2 24 | $-0.01 | $0.42 | ||
| Q1 24 | $-0.01 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $483.8M | — |
| Stockholders' EquityBook value | $355.7M | $672.5M |
| Total Assets | $2.3B | $7.4B |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $92.1M | ||
| Q3 25 | $346.3M | $99.0M | ||
| Q2 25 | $308.2M | $79.6M | ||
| Q1 25 | $241.4M | $51.7M | ||
| Q4 24 | $391.2M | $49.9M | ||
| Q3 24 | $51.9M | $44.1M | ||
| Q2 24 | $64.3M | $47.4M | ||
| Q1 24 | $59.3M | $34.8M |
| 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 | $355.7M | $672.5M | ||
| Q3 25 | $364.8M | $634.3M | ||
| Q2 25 | $360.9M | $597.9M | ||
| Q1 25 | $344.3M | $563.2M | ||
| Q4 24 | $358.9M | $516.9M | ||
| Q3 24 | $394.1M | $484.6M | ||
| Q2 24 | $383.0M | $471.3M | ||
| Q1 24 | $377.1M | $452.9M |
| Q4 25 | $2.3B | $7.4B | ||
| Q3 25 | $2.2B | $7.0B | ||
| Q2 25 | $1.9B | $6.5B | ||
| Q1 25 | $1.7B | $6.0B | ||
| Q4 24 | $1.7B | $5.5B | ||
| Q3 24 | $917.6M | $5.2B | ||
| Q2 24 | $926.2M | $4.9B | ||
| Q1 24 | $917.0M | $4.6B |
| 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 | $175.9M | $18.2M |
| Free Cash FlowOCF − Capex | — | $17.9M |
| FCF MarginFCF / Revenue | — | 34.6% |
| Capex IntensityCapex / Revenue | — | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $18.2M | ||
| Q3 25 | $236.0M | $11.5M | ||
| Q2 25 | $157.9M | $7.7M | ||
| Q1 25 | $51.9M | $3.5M | ||
| Q4 24 | $340.7M | $37.8M | ||
| Q3 24 | $32.0M | $-17.6M | ||
| Q2 24 | $36.7M | $11.5M | ||
| Q1 24 | $29.8M | $10.6M |
| Q4 25 | — | $17.9M | ||
| Q3 25 | — | $11.4M | ||
| Q2 25 | — | $7.6M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $37.5M | ||
| Q3 24 | — | $-17.6M | ||
| Q2 24 | — | $11.4M | ||
| Q1 24 | — | $10.5M |
| Q4 25 | — | 34.6% | ||
| Q3 25 | — | 23.2% | ||
| Q2 25 | — | 15.9% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 96.4% | ||
| Q3 24 | — | -50.3% | ||
| Q2 24 | — | 35.1% | ||
| Q1 24 | — | 35.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | 216.53× | 0.45× | ||
| Q2 25 | 8.22× | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 3.23× | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
