Globalstar, Inc. (GSAT) Q4 2024 Earnings Call Transcript

Globalstar, Inc. (NASDAQ:GSAT) Q4 2024 Earnings Conference Call February 27, 2025 5:00 PM ET

Company Participants

Rebecca Clary - VP & CFO
Paul Jacobs - CEO & Director

Conference Call Participants

Mike Crawford - B. Riley Securities
Simon Flannery - Morgan Stanley
Walter Piecyk - LightShed Partners
Chris Quilty - Quilty Space
Lyman Delano - Beck, Mack & Oliver
George Sutton - Craig-Hallum

Operator

Good day, and thank you for standing by. Welcome to the Globalstar Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Rebecca Clary, CFO. Please go ahead.

Rebecca Clary

Thank you, operator, and good afternoon, everyone. Before we begin, please note that today's call contains forward-looking statements intended to fall within the safe harbor provided under the securities laws. Factors that could cause the results to differ materially are described in the Risk Factors section of Globalstar's SEC filings including its most recent annual report on Form 10-K and its other SEC filings as well as today's earnings release. Also note that management may reference EBITDA or adjusted EBITDA on this call, which are financial measures not recognized under U.S. GAAP. As required by SEC rules and regulations, these non-GAAP financial measures are reconciled to their most comparable GAAP financial measures in the earnings release, which is available on our website.

I'll begin today by sharing our fourth quarter and full year 2024 results. I'll then turn it over to Paul, who will cover key business updates. Before I get into the financials, I am pleased to share 2 strategic actions we have recently completed. In an effort to enhance our stock's liquidity and marketability, we successfully completed our uplifting to the NASDAQ Global Select Market earlier this month. This milestone