Core Thesis - Globalstar, Inc. is positioned as a compelling investment opportunity due to its strategic partnerships, particularly with Apple, and its strong financial growth metrics [1][3][6] Company Overview - Globalstar operates a global network of low-earth orbit (LEO) satellites that facilitate data and voice communication in remote areas, supporting applications like GPS tracking and emergency communication [2] - The partnership with Apple enhances Globalstar's visibility and relevance in consumer safety through emergency messaging capabilities on iPhones [3] Financial Performance - The company has achieved a three-year compound annual revenue growth rate of 24%, with a gross margin of 66.7% and a free cash flow margin of 51.4%, indicating strong operational efficiency [4] - Despite a negative return on invested capital due to high infrastructure costs, Globalstar maintains a market capitalization of $5.33 billion and a low beta of 0.98, suggesting moderate market volatility [5] Stock Performance - Over the past five years, Globalstar's stock has experienced a 58.5% compound annual growth rate, driven by strategic partnerships and improving fundamentals [6] - The company's growth metrics and expanding commercial applications position it as a unique player in next-generation connectivity [6]