$GSAT Cashflow Statement | Understand Stock

$GSAT

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Cash flows provided by operating activities:
Net loss
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization and accretion
Change in fair value of derivatives
Stock-based compensation expense
Noncash consideration, net, associated with wholesale capacity contract
Amortization of deferred financing costs
Provision for credit losses
Reduction in the value and disposal of long-lived assets and inventory
Noncash interest and accretion expense
Change to estimated impact upon adoption of ASC 606
Loss on pension settlement
Noncash revenue recognized from terminated contract
Noncash reversal of tariff accrual
Loss on equity issuance
Noncash expenses associated with SSA, net of amortization
Unrealized foreign currency (gain) loss
Other, net
Changes in operating assets and liabilities:
Accounts receivable
Inventory
Prepaid expenses and other current assets
Other assets
Accounts payable and accrued expenses
Payables to affiliates
Other non-current liabilities
Deferred revenue

Net cash provided by operating activities
Cash flows used in investing activities:
Payments for network upgrades to support the Phase 2 Service Period
Payments for network upgrades to support the Phase 1 and Phase 2 Service Period
Payments for other network upgrades to support the Service Agreements
Payments for network upgrades to support the Extended MSS Network
Payments of capitalized interest
Payments for network upgrades to support product development
Sale of property and equipment
Purchase of intangible assets
Net cash used in investing activities
Cash flows (used in) provided by financing activities:
Proceeds from 2023 Funding Agreement
Principal payments of 2021 Funding Agreement
Dividends paid on Series A Preferred Stock
Proceeds from issuance of Customer Class B units
Proceeds from issuance of 2024 Debt Repayment
Proceeds from PPP Loan
Proceeds from Subordinated Loan Agreement
Payoff of Subordinated Loan Agreement
Proceeds from 2019 Facility Agreement
Principal and make-whole payment of 2023 13% Notes
Principal and interest payments of the 2019 Facility Agreement
2019 Facility Agreement
2009 Facility Agreement
Total principal and interest payments of the 2019 Facility Agreement

Proceeds from 2023 13% Notes
Payments for debt and equity issuance costs
Proceeds from issuance of common stock and exercise of options
Net cash (used in) provided by financing activities

Effect of exchange rate changes on cash and cash equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents, beginning of period
Cash and cash equivalents, end of period
Restricted cash (See Note 6 for further discussion on restrictions)
Supplemental disclosure of cash flow information:
Cash paid for:
Interest
Income taxes
Supplemental disclosure of non-cash financing and investing activities:
Increase in capitalized accrued interest including in accrued expenses and deferred revenue
Capitalized accretion of debt discount and amortization of prepaid financing costs
Network construction assets included in accrued expenses
Fair value of common stock issued
Fair value of common stock issued for XCOM SSA
Fair value of common stock issued for XCOM License Agreement
Construction in progress assets acquired through XCOM SSA
Extended MSS Network assets acquired through Globalstar SPE
Re-characterization of 2021 Funding Agreement to debt due to 2023 amendment
Fair value of the warrant issued to Thermo for the guarantee associated with the 2023 Funding Agreement
Satellite construction assets acquired through vendor financing arrangement
Principal amount of 2019 Facility Agreement converted into preferred equity
Forgiveness of principal and interest of PPP Loan
Principal amount of Loan Agreement with Thermo converted into common stock
Reduction of debt discount and issuance costs due to conversion of Loan Agreement with Thermo
2009 Facility Agreement
Total reduction of debt discount and issuance costs due to conversion of Loan Agreement with Thermo
Fair value of common stock issued upon conversion of Loan Agreement with Thermo
Reduction in derivative liability due to conversion of Loan Agreement with Thermo
Fair value of warrants issued with 2019 Facility Agreement

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