2023 Q4 Form 10-K Financial Statement

#000136686824000028 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $52.41M $223.8M $148.5M
YoY Change 26.88% 50.71% 19.48%
Cost Of Revenue $18.11M $69.47M $65.02M
YoY Change 24.6% 6.85% 25.13%
Gross Profit $34.30M $154.3M $83.48M
YoY Change 28.12% 84.87% 15.41%
Gross Profit Margin 65.45% 68.96% 56.22%
Selling, General & Admin $23.47M $43.46M $44.10M
YoY Change 63.39% -1.46% 6.64%
% of Gross Profit 68.41% 28.16% 52.83%
Research & Development $1.400M $500.0K
YoY Change 180.0% -50.0%
% of Gross Profit 0.91% 0.6%
Depreciation & Amortization $22.50M $87.21M $85.48M
YoY Change 3.54% 2.03% 1.48%
% of Gross Profit 65.6% 56.51% 102.38%
Operating Expenses $45.97M $44.86M $44.60M
YoY Change 27.36% 0.57% 5.3%
Operating Profit -$11.66M -$165.0K -$221.0M
YoY Change 25.16% -99.93% 237.43%
Interest Expense -$2.147M -$14.61M -$30.17M
YoY Change -295.54% -51.57% -30.71%
% of Operating Profit
Other Income/Expense, Net -$23.43M -$35.81M
YoY Change -34.58% -24.48%
Pretax Income -$14.14M -$23.60M -$256.8M
YoY Change 166.14% -90.81% 127.45%
Income Tax $938.0K $1.123M $73.00K
% Of Pretax Income
Net Earnings -$17.75M -$24.72M -$256.9M
YoY Change 232.73% -90.38% 128.12%
Net Earnings / Revenue -33.87% -11.04% -173.0%
Basic Earnings Per Share -$0.02 -$0.14
Diluted Earnings Per Share -$0.01 -$0.02 -$0.14
COMMON SHARES
Basic Shares Outstanding 1.835B shares 1.801B shares
Diluted Shares Outstanding 1.835B shares 1.801B shares

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $56.74M $56.74M $32.08M
YoY Change 76.87% 76.87% 124.29%
Cash & Equivalents $56.74M $56.74M $32.08M
Short-Term Investments
Other Short-Term Assets $22.58M $22.58M $13.57M
YoY Change 66.44% 66.44% -30.62%
Inventory $14.58M $14.58M $9.264M
Prepaid Expenses
Receivables $48.74M $48.74M $26.33M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $142.7M $142.7M $81.24M
YoY Change 75.59% 75.59% 17.96%
LONG-TERM ASSETS
Property, Plant & Equipment $624.0M $658.2M $591.2M
YoY Change 11.36% 11.32% -16.04%
Goodwill $30.60M
YoY Change
Intangibles $60.65M
YoY Change 99.47%
Long-Term Investments
YoY Change
Other Assets $3.703M $24.33M $128.7M
YoY Change 136.61% -81.1% 1492.38%
Total Long-Term Assets $781.7M $781.7M $752.2M
YoY Change 3.92% 3.92% 0.93%
TOTAL ASSETS
Total Short-Term Assets $142.7M $142.7M $81.24M
Total Long-Term Assets $781.7M $781.7M $752.2M
Total Assets $924.3M $924.3M $833.4M
YoY Change 10.91% 10.91% 2.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.027M $2.027M $3.843M
YoY Change -47.25% -47.25% -38.48%
Accrued Expenses $26.96M $80.86M $53.20M
YoY Change -53.88% 52.0% 125.54%
Deferred Revenue $53.68M
YoY Change -28.08%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $34.60M $34.60M $16.00K
YoY Change -42.16% 216150.0% 166.67%
Total Short-Term Liabilities $175.9M $175.9M $197.1M
YoY Change -10.74% -10.74% 220.11%
LONG-TERM LIABILITIES
Long-Term Debt $325.7M $325.7M $132.2M
YoY Change 146.53% 146.4% -44.44%
Other Long-Term Liabilities $11.27M $43.39M $189.0M
YoY Change 181.98% -77.05% 26.98%
Total Long-Term Liabilities $369.4M $369.1M $321.2M
YoY Change 14.89% 14.9% -16.96%
TOTAL LIABILITIES
Total Short-Term Liabilities $175.9M $175.9M $197.1M
Total Long-Term Liabilities $369.4M $369.1M $321.2M
Total Liabilities $545.3M $545.3M $518.6M
YoY Change 5.15% 5.15% 15.59%
SHAREHOLDERS EQUITY
Retained Earnings -$2.065B
YoY Change 1.21%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $379.0M $379.0M $314.8M
YoY Change
Total Liabilities & Shareholders Equity $924.3M $924.3M $833.4M
YoY Change 10.91% 10.91% 2.37%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income -$17.75M -$24.72M -$256.9M
YoY Change 232.73% -90.38% 128.12%
Depreciation, Depletion And Amortization $22.50M $87.21M $85.48M
YoY Change 3.54% 2.03% 1.48%
Cash From Operating Activities $5.785M $74.34M $63.80M
YoY Change -81.98% 16.52% -51.62%
INVESTING ACTIVITIES
Capital Expenditures $33.23M $166.8M $39.95M
YoY Change 126.87% 317.51% -187.74%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$8.810M $0.00
YoY Change -100.0%
Cash From Investing Activities -$33.23M -$175.6M -$39.95M
YoY Change 126.87% 339.56% -11.58%
FINANCING ACTIVITIES
Cash Dividend Paid $11.94M $0.00
YoY Change
Common Stock Issuance & Retirement, Net $0.00 $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 19.89M $125.8M -$6.048M
YoY Change -12378.4% -2179.91% -95.69%
NET CHANGE
Cash From Operating Activities 5.785M $74.34M $63.80M
Cash From Investing Activities -33.23M -$175.6M -$39.95M
Cash From Financing Activities 19.89M $125.8M -$6.048M
Net Change In Cash -7.551M $24.66M $17.78M
YoY Change -143.68% 38.72% -133.09%
FREE CASH FLOW
Cash From Operating Activities $5.785M $74.34M $63.80M
Capital Expenditures $33.23M $166.8M $39.95M
Free Cash Flow -$27.44M -$92.46M $23.85M
YoY Change -257.27% -487.71% -86.56%

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CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022 us-gaap Net Income Loss
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NoncashConsiderationWholesaleContract
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CY2022 gsat Noncash Consideration Wholesale Contract
NoncashConsiderationWholesaleContract
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CY2021 gsat Noncash Consideration Wholesale Contract
NoncashConsiderationWholesaleContract
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CY2023 gsat Asset Impairment Charges And Inventory Write Down
AssetImpairmentChargesAndInventoryWriteDown
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CY2022 gsat Asset Impairment Charges And Inventory Write Down
AssetImpairmentChargesAndInventoryWriteDown
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CY2021 gsat Asset Impairment Charges And Inventory Write Down
AssetImpairmentChargesAndInventoryWriteDown
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CY2022 gsat Non Cash Interest Expense Cash Flow
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CY2021 gsat Non Cash Interest Expense Cash Flow
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CY2022 gsat Gain Loss On Issuance Of Warrants
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CY2021 gsat Gain Loss On Issuance Of Warrants
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CY2023 gsat Noncash Ssa Expense Net
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CY2023 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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CY2021 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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CY2023 us-gaap Increase Decrease In Accounts Receivable
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CY2022 us-gaap Increase Decrease In Accounts Receivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
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CY2023 us-gaap Increase Decrease In Inventories
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CY2022 us-gaap Increase Decrease In Inventories
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CY2021 us-gaap Increase Decrease In Inventories
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CY2023 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
183000 usd
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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CY2023 us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
133000 usd
CY2022 us-gaap Increase Decrease In Due To Affiliates
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CY2021 us-gaap Increase Decrease In Due To Affiliates
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CY2022 us-gaap Increase Decrease In Other Operating Liabilities
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CY2021 us-gaap Increase Decrease In Other Operating Liabilities
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CY2023 us-gaap Increase Decrease In Contract With Customer Liability
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CY2022 us-gaap Increase Decrease In Contract With Customer Liability
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CY2021 us-gaap Increase Decrease In Contract With Customer Liability
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63800000 usd
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CY2023 gsat Payments For Network Upgrades
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CY2022 gsat Payments For Network Upgrades
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CY2023 gsat Payment Of Interest
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CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2023 us-gaap Payments To Acquire Intangible Assets
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CY2022 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
643000 usd
CY2021 us-gaap Payments To Acquire Intangible Assets
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Proceeds From Notes Payable
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CY2022 us-gaap Proceeds From Notes Payable
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CY2023 gsat Partnership Agreement Proceeds
PartnershipAgreementProceeds
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CY2022 gsat Partnership Agreement Proceeds
PartnershipAgreementProceeds
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CY2021 gsat Partnership Agreement Proceeds
PartnershipAgreementProceeds
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CY2023 gsat Partnership Agreement Principal Payment
PartnershipAgreementPrincipalPayment
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CY2022 gsat Partnership Agreement Principal Payment
PartnershipAgreementPrincipalPayment
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CY2021 gsat Partnership Agreement Principal Payment
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CY2023 us-gaap Payments Of Dividends
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CY2023 us-gaap Payment Of Financing And Stock Issuance Costs
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CY2022 us-gaap Payment Of Financing And Stock Issuance Costs
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CY2021 us-gaap Payment Of Financing And Stock Issuance Costs
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CY2023 gsat Proceeds From Payments For Equity Plan Transactions
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CY2022 gsat Proceeds From Payments For Equity Plan Transactions
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CY2021 gsat Proceeds From Payments For Equity Plan Transactions
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CY2023 us-gaap Proceeds From Issuance Of Common Stock
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CY2021 us-gaap Proceeds From Issuance Of Common Stock
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CY2023 gsat Proceeds From Debt Premium Refund
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CY2022 gsat Proceeds From Debt Premium Refund
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CY2021 gsat Proceeds From Debt Premium Refund
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021 us-gaap Interest Paid Net
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CY2022 us-gaap Income Taxes Paid
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CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
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CY2022 us-gaap Interest Costs Incurred Capitalized
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CY2021 us-gaap Interest Costs Incurred Capitalized
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CY2023 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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CY2022 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
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CY2021 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
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CY2023 gsat Satellite Construction Assets Acquired Through Vendor Financing Arrangement
SatelliteConstructionAssetsAcquiredThroughVendorFinancingArrangement
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CY2022 gsat Satellite Construction Assets Acquired Through Vendor Financing Arrangement
SatelliteConstructionAssetsAcquiredThroughVendorFinancingArrangement
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CY2021 gsat Satellite Construction Assets Acquired Through Vendor Financing Arrangement
SatelliteConstructionAssetsAcquiredThroughVendorFinancingArrangement
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CY2023 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2022 us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
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CY2023 us-gaap Debt Conversion Converted Instrument Amount1
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CY2022 us-gaap Debt Conversion Converted Instrument Amount1
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149425000 usd
CY2021 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
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CY2023 gsat Forgiveness Of Principal And Interest Of Ppp Loan
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CY2022 gsat Forgiveness Of Principal And Interest Of Ppp Loan
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CY2021 gsat Forgiveness Of Principal And Interest Of Ppp Loan
ForgivenessOfPrincipalAndInterestOfPPPLoan
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CY2023 gsat Re Characterization Of Funding Agreement To Debt
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CY2022 gsat Re Characterization Of Funding Agreement To Debt
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CY2021 gsat Re Characterization Of Funding Agreement To Debt
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CY2023 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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2776000 usd
CY2022 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2021 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2023 gsat Warrants Issued
WarrantsIssued
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CY2022 gsat Warrants Issued
WarrantsIssued
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CY2021 gsat Warrants Issued
WarrantsIssued
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023 us-gaap Use Of Estimates
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates in Preparation of Financial Statements</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:15.75pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from estimates. Certain reclassifications have been made to prior year Consolidated Financial Statements to conform to current year presentation. The Company evaluates estimates on an ongoing basis.</span></div>
CY2023 us-gaap Concentration Risk Credit Risk
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<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="text-align:justify;text-indent:27pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents. Cash and cash equivalents consists primarily of highly liquid short-term investments deposited with financial institutions that are of high credit quality. </span></div>The Company performs credit evaluations of its customers’ financial condition and records reserves to provide for estimated credit losses
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
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CY2023 gsat Allowance For Doubtful Accounts Receivable Provision Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableProvisionNetOfRecoveries
519000 usd
CY2022 gsat Allowance For Doubtful Accounts Receivable Provision Net Of Recoveries
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1087000 usd
CY2021 gsat Allowance For Doubtful Accounts Receivable Provision Net Of Recoveries
AllowanceForDoubtfulAccountsReceivableProvisionNetOfRecoveries
409000 usd
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1099000 usd
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1157000 usd
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1799000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2312000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2892000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
2962000 usd
CY2022 us-gaap Inventory Write Down
InventoryWriteDown
8600000 usd
CY2021 us-gaap Inventory Write Down
InventoryWriteDown
1000000 usd
CY2023 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
46700000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
52700000 usd
CY2023 gsat Warrants And Rights Outstanding Amortization Of Fair Value Adjustment
WarrantsAndRightsOutstandingAmortizationOfFairValueAdjustment
2600000 usd
CY2022 gsat Warrants And Rights Outstanding Amortization Of Fair Value Adjustment
WarrantsAndRightsOutstandingAmortizationOfFairValueAdjustment
200000 usd
CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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5300000 usd
CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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4400000 usd
CY2023 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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4900000 usd
CY2022 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-6600000 usd
CY2021 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2022Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
3000000 usd
CY2023Q4 us-gaap Asset Retirement Obligations Noncurrent
AssetRetirementObligationsNoncurrent
3000000 usd
CY2023 us-gaap Asset Retirement Obligation Liabilities Incurred
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0 usd
CY2023 us-gaap Asset Retirement Obligation Liabilities Settled
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0 usd
CY2023 us-gaap Research And Development Expense
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1400000 usd
CY2022 us-gaap Research And Development Expense
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500000 usd
CY2021 us-gaap Research And Development Expense
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1000000 usd
CY2023Q4 us-gaap Goodwill Impairment Loss
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0 usd
CY2023Q4 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2023 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
700000 usd
CY2022 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1200000 usd
CY2021 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2100000 usd
CY2023 gsat Capitalized Costs To Fulfill A Contract Amortization
CapitalizedCostsToFulfillAContractAmortization
400000 usd
CY2022 gsat Capitalized Costs To Fulfill A Contract Amortization
CapitalizedCostsToFulfillAContractAmortization
100000 usd
CY2021 gsat Capitalized Costs To Fulfill A Contract Amortization
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0 usd
CY2023 us-gaap Advertising Expense
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2800000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
2000000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
2300000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
32248000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
30382000 usd
CY2023 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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2930000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
223808000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
148504000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
124297000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
223808000 usd
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
148504000 usd
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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124297000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
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48743000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
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26329000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
48743000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
42429000 usd
CY2023 gsat Accounts Receivable Reclassification To Current
AccountsReceivableReclassificationToCurrent
16100000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
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53677000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
74639000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
3213000 usd
CY2022Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
62877000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
56890000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
137516000 usd
CY2023Q4 gsat Contract With Customer Liability Funding Agreement Additional Consideration
ContractWithCustomerLiabilityFundingAgreementAdditionalConsideration
16104000 usd
CY2022Q4 gsat Contract With Customer Liability Funding Agreement Additional Consideration
ContractWithCustomerLiabilityFundingAgreementAdditionalConsideration
0 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
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48300000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
34164000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
30859000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3004000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2747000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
29244000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
27635000 usd
CY2022 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1782000 usd
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1986000 usd
CY2023 gsat Operating Lease Interest Expense
OperatingLeaseInterestExpense
2646000 usd
CY2022 gsat Operating Lease Interest Expense
OperatingLeaseInterestExpense
2524000 usd
CY2021 gsat Operating Lease Interest Expense
OperatingLeaseInterestExpense
1948000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
862000 usd
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
498000 usd
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
213000 usd
CY2023 us-gaap Lease Cost
LeaseCost
6438000 usd
CY2022 us-gaap Lease Cost
LeaseCost
4804000 usd
CY2021 us-gaap Lease Cost
LeaseCost
4147000 usd
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2021 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 usd
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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P4Y7M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P9Y9M18D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P10Y1M6D
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.102
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
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0.102
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.086
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.085
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
5853000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
5299000 usd
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
5445000 usd
CY2021 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
100000 usd
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
100000 usd
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
100000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5638000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
23000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5667000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
23000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
5714000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
23000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5593000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
15000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5577000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
19028000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
47217000 usd
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
84000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
14969000 usd
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
14000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
32248000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
70000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1634891000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1507776000 usd
CY2023Q4 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
1010889000 usd
CY2022Q4 us-gaap Property Plant And Equipment Owned Accumulated Depreciation
PropertyPlantAndEquipmentOwnedAccumulatedDepreciation
947405000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
624002000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
560371000 usd
CY2023 gsat Gross Interest Costs Capitalized
GrossInterestCostsCapitalized
39143000 usd
CY2022 gsat Gross Interest Costs Capitalized
GrossInterestCostsCapitalized
45609000 usd
CY2021 gsat Gross Interest Costs Capitalized
GrossInterestCostsCapitalized
47580000 usd
CY2023 gsat Capitalized Interest Expensed During Period
CapitalizedInterestExpensedDuringPeriod
15271000 usd
CY2022 gsat Capitalized Interest Expensed During Period
CapitalizedInterestExpensedDuringPeriod
29836000 usd
CY2021 gsat Capitalized Interest Expensed During Period
CapitalizedInterestExpensedDuringPeriod
43325000 usd
CY2023 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
23872000 usd
CY2022 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
15773000 usd
CY2021 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
4255000 usd
CY2023 us-gaap Depreciation
Depreciation
87213000 usd
CY2022 us-gaap Depreciation
Depreciation
85475000 usd
CY2021 us-gaap Depreciation
Depreciation
84225000 usd
CY2023 us-gaap Adjustment For Amortization
AdjustmentForAmortization
978000 usd
CY2022 us-gaap Adjustment For Amortization
AdjustmentForAmortization
8409000 usd
CY2021 us-gaap Adjustment For Amortization
AdjustmentForAmortization
12012000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
624002000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
560371000 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
16929000 usd
CY2023Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
16929000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
16803000 usd
CY2022Q4 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
16803000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
53809000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10085000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
43724000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
22212000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8608000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13604000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
70738000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10085000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
60653000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
39015000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8608000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
30407000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1575000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1254000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1225000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1161000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
646000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
1594000 usd
CY2023Q4 gsat Finite Lived Intangible Assets Excluding Assets In Progress
FiniteLivedIntangibleAssetsExcludingAssetsInProgress
7455000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
30600000 usd
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
6886000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1770000 usd
CY2023Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
5094000 usd
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
0 usd
CY2023Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
2791000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
3552000 usd
CY2023Q4 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Asset
EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset
1295000 usd
CY2022Q4 us-gaap Embedded Derivative Fair Value Of Embedded Derivative Asset
EmbeddedDerivativeFairValueOfEmbeddedDerivativeAsset
0 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
3703000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2696000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
19769000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
8018000 usd
CY2023 gsat Contract With Customer Receivable Number Of Customers
ContractWithCustomerReceivableNumberOfCustomers
1 customer
CY2023 gsat Contract With Customer Receivable Billing Period
ContractWithCustomerReceivableBillingPeriod
P5Y
CY2023Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
398661000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
38361000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
360300000 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
202788000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
11098000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
191690000 usd
CY2023Q4 gsat Debt Instrument Face Amount Current
DebtInstrumentFaceAmountCurrent
34600000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
0 usd
CY2023Q4 gsat Long Term Debt Current Maturities And Vendor Financing
LongTermDebtCurrentMaturitiesAndVendorFinancing
34600000 usd
CY2022Q4 gsat Debt Instrument Face Amount Current
DebtInstrumentFaceAmountCurrent
59575000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
0 usd
CY2022Q4 gsat Long Term Debt Current Maturities And Vendor Financing
LongTermDebtCurrentMaturitiesAndVendorFinancing
59575000 usd
CY2023Q4 gsat Debt Instrument Face Amount Noncurrent
DebtInstrumentFaceAmountNoncurrent
364061000 usd
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
38361000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
325700000 usd
CY2022Q4 gsat Debt Instrument Face Amount Noncurrent
DebtInstrumentFaceAmountNoncurrent
143213000 usd
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
11098000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
132115000 usd
CY2023 gsat Partnership Agreement Proceeds
PartnershipAgreementProceeds
117300000 usd
CY2022Q1 gsat Vendor Financing Payment Terms
VendorFinancingPaymentTerms
P45D
CY2022Q1 gsat Vendor Financing Percent Of Contract Price Deferred
VendorFinancingPercentOfContractPriceDeferred
0.23
CY2022Q1 gsat Vendor Financing Payment Period Within Due Date
VendorFinancingPaymentPeriodWithinDueDate
P6M
CY2022Q4 gsat Vendor Financing Current
VendorFinancingCurrent
59575000 usd
CY2021Q4 gsat Vendor Financing Current
VendorFinancingCurrent
0 usd
CY2023 gsat Vendor Financing Deferral Of Milestone Payments
VendorFinancingDeferralOfMilestonePayments
0 usd
CY2022 gsat Vendor Financing Deferral Of Milestone Payments
VendorFinancingDeferralOfMilestonePayments
73575000 usd
CY2023 gsat Repayment Of Vendor Financing
RepaymentOfVendorFinancing
59575000 usd
CY2022 gsat Repayment Of Vendor Financing
RepaymentOfVendorFinancing
14000000 usd
CY2023Q4 gsat Vendor Financing Current
VendorFinancingCurrent
0 usd
CY2022Q4 gsat Vendor Financing Current
VendorFinancingCurrent
59575000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
34600000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
44023000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
41222000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
34972000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
34972000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
208872000 usd
CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
398661000 usd
CY2023 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
The fair value of each embedded derivative is marked-to-market at the end of each reporting period, or more frequently as deemed necessary, with any changes in value reported in the consolidated statements of operations and consolidated statements of cash flows as a non-cash operating activity. The instruments and related features embedded in the debt instruments that are required to be accounted for as derivatives are described below.
CY2022Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-122000 usd
CY2021Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
-880000 usd
CY2023 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationIssues
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CY2022 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Issues
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FilingSummary.xml Edgar Link unprocessable
gsat-20231231_cal.xml Edgar Link unprocessable
gsat-20231231_def.xml Edgar Link unprocessable