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Space, defense and state enterprises · acquisition pending · United States

Globalstar

globalstar.com ↗

Globalstar runs satellite spectrum and IoT/MSS services, powering Apple's Emergency SOS, being bought by Amazon.

Protection under test
Assessed 24 July 2026 · Evidence as of 24 July 2026
Something worth protecting exists and is being tested right now.
On the recordSince 24 July 2026 · Checkable from H2 2026 · Every call on the record Checkpoint: FCC Space Bureau ruling on spectrum transfer to Amazon
The call

Globalstar's spectrum and Apple deal make it valuable enough for Amazon to buy outright, so its future now rides on regulators clearing that sale, not on fending off rivals alone.

Globalstar operates satellites that beam phone and data signals to remote areas where normal cell towers don't reach, and it owns government licenses to use certain radio frequencies in over 120 countries. Amazon agreed to buy the company for $11.6 billion, but the deal won't close until around 2027, and regulators still need to say yes. The real question is not whether Globalstar's business is strong on its own, because Amazon is buying it either way, but whether the government will actually approve handing Globalstar's valuable radio licenses to Amazon, especially since SpaceX runs a competing satellite service (Starlink) and might argue against the deal in front of the FCC.

Why
01
AI pressure: None apparent. No AI product threatens satellite spectrum licensing or MSS hardware links directly today. Could AI do the core job? Unlikely.
02
Bigger players: SpaceX Starlink Direct-to-Cell (backed by $17B EchoStar spectrum buy). Starlink already offers direct-to-phone satellite texting and is buying spectrum to expand, competing for the same connectivity niche. Could a giant copy it? No, they are blocked.
03
What protects it. FCC-licensed L/S-band spectrum in 120+ countries plus Apple's 85% capacity commitment, now backed by Amazon's $11.6B buyout.
What would change this call
FCC Space Bureau ruling on the Globalstar-to-Amazon spectrum transfer. Approval or delay shows whether the deal, and Globalstar's independent path, stays on track.
SpaceX or Iridium files a petition to block or reshape the transfer. Would show a direct competitor trying to slow or derail Amazon's acquisition.
HIBLEO-4 satellite replenishment launch outcome with SpaceX. A failed or delayed launch would jeopardize a closing condition for the Amazon deal.
Key numbers
  • Amazon acquiring Globalstar for $11.57B at $90/share (2026-04-14)
  • Apple-linked customer was 58% of 2024 revenue (2024)
  • Q1 2026 revenue $70.1M, up 17% YoY (2026-03-31)
Named risks
  • Amazon acquisition close (targeted 2027) depends on FCC, antitrust, and foreign-investment approvals. Severity: high
  • SpaceX or Iridium could petition to block or delay the FCC spectrum transfer. Severity: high
  • HIBLEO-4 satellite replenishment launch with SpaceX is a closing condition; failure or delay could push back the deal. Severity: medium
  • Extreme customer concentration: Apple-linked revenue was 58% of 2024 total, with no other customer above 10%. Severity: high
  • Company has suspended guidance and earnings calls pending merger, reducing visibility into operations. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
SpaceX (Starlink Direct-to-Cell)losing toSpaceX's $17B EchoStar spectrum deal makes it the market-leading direct-to-cell player as of 2026
AST SpaceMobilelosing toFCC approved 248-satellite expansion for AST SpaceMobile on 2026-04-22, dwarfing Globalstar's 24-25 satellite fleet
Iridium (Rocket Lab)contestingRocket Lab's ~$8B Iridium acquisition announced June 2026 consolidates a rival MSS operator with 2.55M subscribers
Amazon Leogaining onAmazon is acquiring Globalstar itself (deal announced 2026-04-14) to fold spectrum into its own Leo constellation
Questions people ask
Is Globalstar being acquired by Amazon in 2026?
Yes, Amazon signed a definitive agreement on April 14, 2026 to acquire Globalstar for about $11.57 billion at $90.00 per share, cash or stock. Shareholders holding about 58% of voting power already approved it by written consent, with close targeted for 2027 pending FCC and antitrust approval.
Is Globalstar profitable?
No. Globalstar posted a Q1 2026 net loss of $17.4 million (-$0.16 per share) despite revenue of $70.1 million, up 17% year over year. The loss was driven partly by a jump in non-cash imputed interest tied to Apple's prepayment agreement, as of March 31, 2026.
How dependent is Globalstar on Apple?
Very dependent. An Apple-linked wholesale customer accounted for 58% of Globalstar's 2024 revenue with no other customer above 10%. Apple also holds 85% of network capacity and a 20% equity stake in Globalstar Licensee LLC as of May 27, 2026, which Amazon is acquiring as part of the deal.
Could AI replace what Globalstar does?
No, not the core business. Globalstar's moat is FCC-licensed L/S-band spectrum harmonized across 120+ countries plus a physical LEO satellite constellation and ground network, which are regulatory and hardware assets AI cannot replicate. Its 'Realm' analytics layer for IoT data is a vendor-marketed, minor AI-adjacent feature, not the core moat.
Who is Globalstar's biggest competitor?
SpaceX's Starlink Direct-to-Cell is the dominant force in satellite-to-phone connectivity, backed by a $17 billion EchoStar spectrum acquisition. AST SpaceMobile also won FCC approval on April 22, 2026 to expand its constellation to 248 satellites, intensifying pressure on Globalstar's niche.
What happens to Globalstar employees after the Amazon deal?
Globalstar reported 477 employees as of December 31, 2025, up 22.6% from 389 a year earlier, per its 10-K. The company plans to fold its spectrum and satellites into Amazon Leo, but no public headcount or integration plan beyond the 2027 target close has been disclosed.
Timeline
  • 2026-07-21ITIF and other parties file FCC comments supporting Globalstar spectrum transfer to Amazon
  • 2026-06Rocket Lab announces ~$8B acquisition of Iridium, closing around June 2026
  • 2026-05-27Amazon files to acquire Apple's 20% stake in Globalstar Licensee LLC
  • 2026-04-22FCC approves AST SpaceMobile direct-to-cell request, expansion to 248 satellites
  • 2026-04-14Amazon signs definitive agreement to acquire Globalstar for $11.57B at $90.00/share
  • 2026-03-31Globalstar reports Q1 2026 revenue of $70.1M, up 17% YoY, net loss $17.4M
  • 2025-12-31Globalstar 10-K reports 477 employees, up 22.6% from prior year
  • 2025 earlyAmazon invests roughly $2B for a strategic stake in Globalstar
  • 2024-10Apple expands agreement, raising investment toward $1.1-1.5B and committing to 48-satellite upgrade
Revision history
24 July 2026
First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.
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