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COVINGTON, La. - Globalstar, Inc. (NASDAQ:GSAT), a $3.5 billion market cap satellite communications company that has delivered strong returns over the last three months according to InvestingPro, announced on Tuesday it has entered into a Cooperative Research and Development Agreement (CRADA) with the United States Army to evaluate the company’s satellite data solutions for military applications.
Under the agreement, the telecommunications infrastructure provider will work with Army research and development teams to assess performance of its satellite technology for defense purposes, including low probability of intercept/low probability of detect communications, covert sensing, and tracking applications.
The collaboration will focus on testing Globalstar’s ultra-low size, weight, power and cost devices designed for long-duration field deployment in remote environments where traditional communications infrastructure is limited or unavailable.
The company’s technology features onboard processing capabilities that allow terminals to make decisions without user intervention, with messaging structures that provide inherent security features. These characteristics, combined with Globalstar’s low Earth orbit constellation, make the platform suitable for defense applications in contested environments, according to the press release.
"We’re proud to bring our decades of satellite expertise and emerging terrestrial innovation to support the Army’s evaluation of next-generation satellite capabilities," said Globalstar CEO Dr. Paul E. Jacobs. The company maintains healthy liquidity with a current ratio of 2.27 and impressive gross margins of 66.71%, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Globalstar operates a low Earth orbit satellite constellation that provides data transmission services for connecting assets and transmitting operational data. The company also offers terrestrial spectrum services and Internet of Things hardware and software products, driving 14.55% revenue growth over the last twelve months. For deeper insights into GSAT’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers 1,400+ top US stocks with expert analysis and actionable intelligence.
In other recent news, Globalstar, Inc. has announced several significant developments that may interest investors. The company has signed an agreement with SpaceX for a Falcon 9 launch to deploy nine replacement satellites. These satellites, authorized by the Federal Communications Commission, will operate under Globalstar’s HIBLEO-4 filing for a 15-year term. This launch, expected next year, is part of Globalstar’s ongoing construction and launch plan. Additionally, Globalstar is expanding its Alcazar Teleport facility in Spain, doubling its footprint with three new tracking antennas to enhance its Low Earth Orbit constellation. The expansion aims to improve mobile satellite connectivity across Europe. Globalstar is also continuing its partnership with CERES TAG to provide satellite connectivity for livestock monitoring technology amid a screwworm outbreak in Mexico. This partnership includes CERES TAG’s commitment to purchase a minimum of 30,000 units from Globalstar. Furthermore, the Federal Communications Space Bureau has accepted Globalstar’s C-3 System petition for filing, marking a procedural milestone in the company’s efforts to enhance its Mobile Satellite Services network.
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