Globalstar Expands IoT Reach With Conekt.ai Collaboration

Core Insights - Globalstar (GSAT) is expanding its presence in the Internet of Things (IoT) connectivity market through a partnership with Conekt.ai, integrating its Band 53 spectrum and XCOM RAN technology with Conekt.ai's orchestration platform for enhanced multi-network connectivity [1][2][3] Company Developments - The collaboration allows Conekt.ai to provide turnkey connectivity solutions for IoT deployments, enabling enterprise clients to manage and scale IoT applications through a unified orchestration system [2] - GSAT's integration of Band 53 spectrum and XCOM RAN solutions enhances its market capabilities, granting access to a broader customer base in the IoT and enterprise sectors [3] - GSAT's second-quarter 2025 results indicate growth in wholesale capacity services and commercial IoT initiatives, with an increase in average subscribers driven by strong activations [4] - Innovations like the RM200 two-way module and XCOM RAN are expected to further boost GSAT's revenue, with the RM200 module gaining traction in sectors such as oil & gas and defense [5] Competitive Landscape - The satellite and communication industry is highly competitive, with significant players like Iridium Communications and Viasat expanding their market reach, which could impact GSAT's revenue if execution falters [6][9] - Iridium's commercial service segment, which accounts for 59% of its total revenues, is experiencing growth, driven by strong IoT performance [7] - Viasat's acquisition of Inmarsat has enhanced its capabilities, with plans to launch the ViaSat-3 Flight 2 satellite, which will double its bandwidth capacity [10] Financial Performance - GSAT stock has increased by 18.5% in the past month, outperforming the Zacks Satellite and Communication industry, which rose by 2% [11] - The stock is trading at a forward 12-month price/sales ratio of 18.23X, significantly higher than the industry's 1.5X [11] - Earnings estimates for GSAT have been revised upward, with a 77.1% increase for 2025 and a 200% increase for 2026 [11]