Globalstar grew revenue 17% year-over-year in the first quarter of 2026, which Globalstar reported as the operator is now in a process to be acquired by Amazon. 

Globalstar provided a few updates on its business on Friday, but will not hold further investor calls because of the pending acquisition. 

Overall the company reported $70 million in revenue for the first quarter and a net loss of $17.4 million. 

Increased revenue in the first quarter was due to higher wholesale capacity revenue, which Globalstar noted was part of additional service fees as it is reimbursed for its network refresh. Apple, Globalstar’s wholesale customer, is paying most of the costs associated with its constellation refresh and next-generation constellation. 

Globalstar also noted that commercial IoT service revenue increased due to growth in the subscriber base and government and other services revenue increased because of the company’s service agreement with Parsons Corporation. 

Subscriber equipment sales increased as well to $3.4 million, up 13% compared to the same time last year. 

“We delivered strong operational and financial results in the first quarter, continuing the momentum we built entering 2026,” Paul Jacobs, Globalstar CEO said in a statement. “Demand is growing across our government, defense, and private wireless businesses, reflecting the market’s need for scalable, integrated solutions across both satellite and terrestrial based connectivity.”

Globalstar confirmed it has two launches planned for this year to launch the 17-satellite refresh of its constellation. Manufacturer MDA Space said this week it recently delivered the first batch of satellites for the replacement constellation.