EBITDA for Q2 2025 was $8.1 million, a significant improvement from a loss of $1.2 million in Q2 2024.
For the first half of 2025, adjusted EBITDA increased 83.4% to $30.8 million from $16.8 million in the prior year period.
Gross profit increased 36.1% year-over-year to $85.9 million, with gross margin expanding by 270 basis points to 26.8%.
Net loss attributable to common shareholders narrowed to $17 million ($0.16 per diluted share) from $29.6 million ($0.28 per diluted share) in Q2 2024.
The Gaming Components and Systems segment grew revenue by 30% year-over-year, while the Gamer and Creator Peripherals segment grew 9%.
Adjusted EBITDA rose to $35.8 million from $32.6 million in the prior year quarter, despite a 300 basis point margin decline due to higher costs supporting XCOM RAN development.
Adjusted free cash flow for the first six months of 2025 was $77.9 million, up from $51.9 million in the prior year period.
Globalstar reported strong Q2 2025 financial results with total revenue increasing 11% to $67.1 million compared to $60.4 million in the prior year period.
Service revenue grew 10%, driven primarily by wholesale capacity services and increased service fees following network expansion.
The company ended the quarter with $308.2 million in cash on hand.