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Side-by-side financial comparison of Globalstar, Inc. (GSAT) and VIASAT INC (VSAT). Click either name above to swap in a different company.
VIASAT INC is the larger business by last-quarter revenue ($1.2B vs $72.0M, roughly 16.1× Globalstar, Inc.). VIASAT INC runs the higher net margin — 2.2% vs -16.1%, a 18.3% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs 3.0%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs 0.3%).
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.
Viasat, Inc. is an American communications company based in Carlsbad, California, with additional operations across the United States and worldwide. Viasat is a provider of high-speed satellite broadband services and secure networking systems covering military and commercial markets.
GSAT vs VSAT — Head-to-Head
Income Statement — Q4 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $1.2B |
| Net Profit | $-11.6M | $25.0M |
| Gross Margin | — | — |
| Operating Margin | -0.5% | 2.3% |
| Net Margin | -16.1% | 2.2% |
| Revenue YoY | 17.6% | 3.0% |
| Net Profit YoY | 76.9% | 115.8% |
| EPS (diluted) | $-0.11 | $0.18 |
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 | $1.2B | ||
| Q3 25 | $73.8M | $1.1B | ||
| Q2 25 | $67.1M | $1.2B | ||
| Q1 25 | $60.0M | $1.1B | ||
| Q4 24 | $61.2M | $1.1B | ||
| Q3 24 | $72.3M | $1.1B | ||
| Q2 24 | $60.4M | $1.1B | ||
| Q1 24 | $56.5M | $1.2B |
| Q4 25 | $-11.6M | $25.0M | ||
| Q3 25 | $1.1M | $-61.4M | ||
| Q2 25 | $19.2M | $-56.4M | ||
| Q1 25 | $-17.3M | $-246.1M | ||
| Q4 24 | $-50.2M | $-158.4M | ||
| Q3 24 | $9.9M | $-137.6M | ||
| Q2 24 | $-9.7M | $-32.9M | ||
| Q1 24 | $-13.2M | $-100.3M |
| Q4 25 | -0.5% | 2.3% | ||
| Q3 25 | 13.8% | 3.1% | ||
| Q2 25 | 9.2% | 4.0% | ||
| Q1 25 | -14.2% | -13.4% | ||
| Q4 24 | -6.9% | 1.9% | ||
| Q3 24 | 13.0% | -2.2% | ||
| Q2 24 | -2.4% | 5.3% | ||
| Q1 24 | -8.3% | 0.0% |
| Q4 25 | -16.1% | 2.2% | ||
| Q3 25 | 1.5% | -5.4% | ||
| Q2 25 | 28.6% | -4.8% | ||
| Q1 25 | -28.9% | -21.5% | ||
| Q4 24 | -82.1% | -14.1% | ||
| Q3 24 | 13.7% | -12.3% | ||
| Q2 24 | -16.0% | -2.9% | ||
| Q1 24 | -23.4% | -8.7% |
| Q4 25 | $-0.11 | $0.18 | ||
| Q3 25 | $-0.01 | $-0.45 | ||
| Q2 25 | $0.13 | $-0.43 | ||
| Q1 25 | $-0.16 | $-1.92 | ||
| Q4 24 | $-0.57 | $-1.23 | ||
| Q3 24 | $0.00 | $-1.07 | ||
| Q2 24 | $-0.01 | $-0.26 | ||
| Q1 24 | $-0.01 | $-1.14 |
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 | $1.3B |
| Total DebtLower is stronger | $483.8M | $6.2B |
| Stockholders' EquityBook value | $355.7M | $4.6B |
| Total Assets | $2.3B | $14.9B |
| Debt / EquityLower = less leverage | 1.36× | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $1.3B | ||
| Q3 25 | $346.3M | $1.2B | ||
| Q2 25 | $308.2M | $1.2B | ||
| Q1 25 | $241.4M | $1.6B | ||
| Q4 24 | $391.2M | $1.6B | ||
| Q3 24 | $51.9M | $3.5B | ||
| Q2 24 | $64.3M | $1.8B | ||
| Q1 24 | $59.3M | $1.9B |
| Q4 25 | $483.8M | $6.2B | ||
| Q3 25 | $508.6M | $6.5B | ||
| Q2 25 | $491.5M | $6.5B | ||
| Q1 25 | $502.7M | $6.5B | ||
| Q4 24 | $511.4M | $6.5B | ||
| Q3 24 | $394.4M | $6.4B | ||
| Q2 24 | $393.1M | $7.1B | ||
| Q1 24 | $398.7M | $7.1B |
| Q4 25 | $355.7M | $4.6B | ||
| Q3 25 | $364.8M | $4.5B | ||
| Q2 25 | $360.9M | $4.6B | ||
| Q1 25 | $344.3M | $4.6B | ||
| Q4 24 | $358.9M | $4.8B | ||
| Q3 24 | $394.1M | $4.9B | ||
| Q2 24 | $383.0M | $5.0B | ||
| Q1 24 | $377.1M | $5.0B |
| Q4 25 | $2.3B | $14.9B | ||
| Q3 25 | $2.2B | $14.8B | ||
| Q2 25 | $1.9B | $14.9B | ||
| Q1 25 | $1.7B | $15.4B | ||
| Q4 24 | $1.7B | $15.6B | ||
| Q3 24 | $917.6M | $17.8B | ||
| Q2 24 | $926.2M | $16.1B | ||
| Q1 24 | $917.0M | $16.3B |
| Q4 25 | 1.36× | 1.37× | ||
| Q3 25 | 1.39× | 1.44× | ||
| Q2 25 | 1.36× | 1.43× | ||
| Q1 25 | 1.46× | 1.43× | ||
| Q4 24 | 1.43× | 1.37× | ||
| Q3 24 | 1.00× | 1.30× | ||
| Q2 24 | 1.03× | 1.42× | ||
| Q1 24 | 1.06× | 1.42× |
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 | $726.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 29.11× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.9M | $726.9M | ||
| Q3 25 | $236.0M | $282.2M | ||
| Q2 25 | $157.9M | $258.5M | ||
| Q1 25 | $51.9M | $298.4M | ||
| Q4 24 | $340.7M | $219.5M | ||
| Q3 24 | $32.0M | $239.2M | ||
| Q2 24 | $36.7M | $151.1M | ||
| Q1 24 | $29.8M | $232.0M |
| Q4 25 | — | 29.11× | ||
| 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% |
VSAT
| Products | $334.2M | 29% |
| Aviation Services | $303.7M | 26% |
| Government Satcom Services | $202.4M | 17% |
| Maritime Services | $114.9M | 10% |
| Information Security And Cyber Defense Products | $97.0M | 8% |
| Tactical Networking Products | $93.9M | 8% |
| Navarino Uk And Jsat Mobile | $15.5M | 1% |
| Advanced Technologies And Other Products | $6.1M | 1% |
