Globalstar Inc (GSAT)

[@LaughinPaulRyan]

Mr. Kagan continued, "The other two devices recently launched expand our award-winning SPOT family of products, the SPOT Gen4™ and the Jeep branded SPOT X®. The SPOT Gen4™ is the latest generation of our SPOT Satellite GPS Messenger™ and offers increased functionality with more tracking features, an enhanced mapping interface, improved product specifications, and a modern look and feel. The launch of the exclusive SPOT X® Jeep® Edition 2-way satellite messenger is the first product launch since SPOT recently entered a licensing deal with the Jeep brand. We are excited about the potential for these products and look forward to the full rollout in the third quarter. In addition to product development efforts, we also continued to make progress with improving our global gateway performance and coverage through ongoing efforts to develop and deploy new gateway antennas, as well as the expansion of second-generation service in South America with a new gateway in Argentina. A critical step in our global growth strategy, this expanded coverage enables us to sell affordable voice and data products into the surrounding territories."

Jay Monroe, Executive Chairman of Globalstar(GSAT), added, "Echoing Dave's sentiment, I am encouraged by Globalstar's(GSAT) continued productivity and resiliency as an organization, and with the financial results reported for the second quarter. While the full extent of the pandemic’s impact on the telecommunications industry will play out over the coming quarters, I think that we can have confidence that the importance of wireless connectivity has increased, and that is true both in populated settings and remote environments. The early ST100 demand is proof of the growing need for remote connectivity. In a post-pandemic world, it’s rational to expect that most industries will seek even greater automation or remote control of their processes to limit the impacts of shutdowns like we have experienced. Also, in this new world the importance of reliable wireless connections for new types of dispersed collaboration increase. All of this will require spectrum like we can offer."

Mr. Monroe continued, "We remain focused on pursuing meaningful revenue opportunities to augment our current revenue streams. In addition to launching new products and geographies, we are committed to monetizing Globalstar's(GSAT) significant portfolio of satellite and terrestrial spectrum assets in new and innovative ways. In partnership with Nokia, we are very pleased to announce that we have signed our first commercial deal for the use of Band 53 in a private LTE network deployment serving a logistics operator in a port automation use case. Band 53 was chosen over other spectrum options because of the reliability of the band in all locations including coastal areas. While Globalstar’s revenue share from this deal is expected to be relatively modest, it is a significant milestone for Band 53 and we expect it to be the first of many more to come. We are confident that executing this deal will help further the momentum we are seeing in the development of the Band 53/n53 ecosystem. More infrastructure and device options increase the attractiveness of the band and make it easier to engage us as a partner. We also continue to pursue our international regulatory agenda, although it has slowed due to travel restrictions. We expect progress on that front in this calendar year. I believe the future is very bright for Globalstar(GSAT)."