Globalstar's service growth accelerates thanks to Duplex

|By:, SA News Editor

Globalstar's (NYSEMKT:GSAT) service revenue rose 16% Y/Y in Q2 to $17.9M; that's a much faster clip than Q1's 6%. A 30% revenue increase for Globalstar's high-ARPU Duplex voice/data service to $6.9M fueled the growth.

SPOT service revenue +3% Y/Y to $7M, Simplex service revenue +37% to $2.2M.

Duplex subs fell by 11.1K Q/Q to 60.3K, but ARPU rose by $10.98 to $38.41. SPOT subs grew by 3.8K to 226.8K; ARPU fell $0.18 to $10.34. Simplex subs grew by 16.4K to 257.4K; ARPU rose $0.30 to $2.88.

Equipment revenue +38% Y/Y to $6.1M. Adjusted EBITDA +70% to $5M.

GSAT +1% AH. Q2 results, PR.