Company Overview - Globalstar, Inc. is a leading provider of mobile satellite communications, enabling connectivity in remote and underserved regions worldwide [5] - The company leverages its proprietary satellite network to deliver mission-critical voice, data, and IoT solutions to enterprise and government clients, as well as individual consumers [5] - As of the latest market close, Globalstar's stock price is $50.48, with a market capitalization of $6.4 billion, revenue of $260.7 million, and a net income of -$38.4 million [4] Recent Developments - Essex Investment Management disclosed a new position in Globalstar valued at approximately $7.1 million, acquiring 194,343 shares during the third quarter [1][2] - Globalstar now represents 1.1% of Essex's $653.4 million in reportable U.S. equity holdings [2] - The company reported record third-quarter revenue of $73.8 million, up from $72.3 million a year earlier, driven by strong wholesale capacity services and subscriber equipment sales [8] Strategic Focus - Globalstar aims to expand its 5G capabilities and commercialize Band n53 spectrum to strengthen its competitive position in the telecommunications landscape [6] - The company is focused on becoming a hybrid satellite-terrestrial network provider, with growing partnerships and improved commercialization representing a durable growth runway [10] Market Performance - Globalstar shares have increased by 82% over the past year, significantly outperforming the S&P 500's 12% gain in the same period [3] - The company reaffirmed its full-year guidance for revenue between $260 million and $285 million, with a 50% adjusted EBITDA margin [8]