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COVINGTON, La. - Globalstar, Inc. (NASDAQ:GSAT), an international telecom infrastructure provider, today announced the appointment of two new executives to lead its terrestrial spectrum and network solutions and wholesale satellite capacity businesses. The company, which offers satellite and terrestrial connectivity services and has achieved 11.86% revenue growth over the last twelve months, aims to expand its private network solutions and wholesale satellite offerings through these strategic leadership placements. According to InvestingPro data, the company maintains a healthy liquidity position with a current ratio of 3.16.
Dr. Tamer Kadous has been named Vice President and General Manager of the terrestrial spectrum and network solutions business. With over twenty years of experience in wireless communications, Kadous’ expertise is expected to propel the development and integration of Globalstar’s XCOM RAN technology and Band n53 assets. CEO Dr. Paul E. Jacobs commended Kadous for his role in building the XCOM RAN technology and integrating it into Globalstar’s product portfolio.
Daaman Hejmadi will take on the role of Vice President and General Manager of the wholesale satellite capacity business. Hejmadi’s previous experience includes transformative roles at Qualcomm and Intel, where he managed large engineering teams and contributed significantly to revenue growth. Jacobs praised Hejmadi’s extensive experience and his ability to deliver complex technical products at scale.
Globalstar’s services are designed to facilitate secure and affordable connectivity for a wide range of customers, including businesses and government agencies. The company’s low Earth orbit satellite constellation is instrumental in secure data transmission, while its terrestrial spectrum and XCOM RAN technology offer solutions for private networks and dense wireless deployments. For detailed analysis of Globalstar’s market position and growth potential, investors can access comprehensive research reports and financial metrics through InvestingPro, which offers exclusive insights into the company’s valuation and future prospects.
The company’s forward-looking statements indicate plans for integrating licensed technology, growth prospects for customers and markets, and the benefits of strategic partnerships. While InvestingPro analysis shows the company faces profitability challenges with negative earnings in the last twelve months, its strong liquidity position supports ongoing operational initiatives. However, these statements are subject to risks and uncertainties that could affect actual results.
This leadership change is part of Globalstar’s ongoing efforts to enhance its service offerings and market presence in the telecommunications industry. The information for this article is based on a press release statement from Globalstar, Inc.
In other recent news, Globalstar, Inc. reported its fourth-quarter 2024 earnings, revealing a notable shortfall in earnings per share (EPS), which came in at -$0.42 compared to the forecasted -$0.0012. Despite this, the company experienced a 17% year-over-year revenue increase, reaching $61.17 million, surpassing expectations of $60.24 million. Globalstar concluded the year with a strong cash position, holding $391.2 million. The company has projected revenue between $260 million and $285 million for 2025, with an anticipated adjusted EBITDA margin of around 50%. In other developments, Globalstar inaugurated a new Satellite Operations Control Center in Covington, Louisiana, enhancing its satellite management capabilities. The company plans to create 75 new jobs in Louisiana by the end of the year, further boosting its local workforce. Additionally, Globalstar’s strategic initiatives include the launch of new satellite solutions and expansion into 5G. Analysts, including those from B. Riley Securities and Morgan Stanley, have been closely monitoring these developments, reflecting on the company’s strategic positioning and future growth potential.
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