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COVINGTON, La. - Globalstar, Inc. (NASDAQ:GSAT), which has delivered an impressive 90% return over the past year according to InvestingPro data, has started construction to double the size of its ground station in Estonia, the company announced Monday in a press release.
The telecommunications infrastructure provider, currently valued at $4.45 billion, plans to add three additional 6-meter antennas and associated infrastructure to its existing facility in Kilingi-Nõmme, which currently houses three tracking antennas. The expansion represents an investment of approximately $9 million and will support the company’s third-generation C-3 mobile satellite system across Northern Europe. With a healthy current ratio of 2.81, InvestingPro analysis shows Globalstar maintains strong liquidity to fund its expansion initiatives.
Globalstar has contracted AS Connecto Infra, based in Tallinn, to design and construct the ground station expansion.
The original Estonian facility was commissioned in 2021 after Globalstar acquired land from the Saarde municipality with assistance from the Estonian Investment Agency and U.S. Commercial Service personnel at the U.S. Embassy in Tallinn.
"Our ground station in Estonia, like our facilities in Greece, Spain and France, are supporting critical communications, including emergency SOS services, to millions of people across Europe," said L. Barbee Ponder, General Counsel & Vice President of Regulatory Affairs for Globalstar.
The Estonian expansion is part of a broader global initiative that includes up to 90 new tracking antennas supporting Globalstar’s satellite system. The company has demonstrated solid growth, with revenue reaching $260.66 million in the last twelve months, representing a 15% year-over-year increase. For deeper insights into Globalstar’s growth strategy and financial outlook, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.
Külli Karu, Deputy Mayor of Saarde municipality, noted that the facilities provide wireless communications via satellite to people across Europe who would otherwise be unconnected during emergencies or crises.
Globalstar’s satellite services provide connectivity in areas without terrestrial mobile networks or in situations where such networks are disabled due to natural disasters or other events.
In other recent news, Globalstar, Inc. reported its second-quarter earnings for 2025, showcasing a notable increase in revenue alongside strategic advancements in product development and market expansion. In addition, the company has secured multiple government contracts expected to generate at least $60 million in revenue over the next five years. These contracts involve collaboration with Parsons for satellite-enabled software-defined communications, moving into the commercial phase with an executed access agreement. Globalstar has also initiated the expansion of its ground station in Singapore, adding two 6-meter tracking antennas to support its third-generation C-3 mobile satellite system. This expansion is part of its 17-year partnership with Singtel, enhancing service offerings across Southeast Asia. These developments indicate Globalstar’s ongoing efforts to strengthen its market position and expand its technological capabilities.
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