全球星 2025年季度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and GLOBALSTAR, INC.TABLE OF CONTENTS CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS Certain statements contained in or incorporated by reference into this Quarterly Report on Form 10-Q (this "Report"), other than purelyhistorical information, including, but not limited to, estimates, projections, statements relating to our business plans, objectives and expectedoperating results, our anticipated financial resources, our expectations about the future operational performance of our satellites (includingtheir projected operational lives), our expectations regarding the outcomes of regulatory and licensing proceedings, the expected growthprospects of our existing customers and the markets that we serve, and the assumptions upon which those statements are based, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generallyare identified by the words "believe," "might," "could," "project," "expect," "anticipate," "estimate," "intend," "strategy," "plan," "may," Important factors that may cause our actual results to differ materially from those anticipated in forward-looking statements, include, butare not limited to, our ability to meet our obligations and attain anticipated benefits under the Updated Services Agreements (as definedherein), the operational performance and orbital lives of our satellites, including damage to or failure of our satellites, disruptions or otherproblems at our ground facilities, change in our operating plans or corporate strategies, commercial acceptance of and demand for ourproducts and services, our ability to adequately anticipate our satellite capacity needs and maintain sufficient satellite capacity to meetcurrent and increased demand, our ability to exploit and respond to technological innovation, including integrating licensed technology intoour products and services and developing, acquiring, maintaining and protecting information and intellectual property rights, our ability toeffectively compete in the markets in which we operate, geopolitical and economic conditions and risks associated with doing business on aglobal basis, including in developing markets, the availability of equipment, component parts and other materials used in our businessoperations, the reliance on key suppliers, our ability to raise capital on reasonable terms, our ability to manage costs, our ability to developand expand our business (including our ability to maintain, expand and monetize our spectrum rights), our compliance with andinterpretation of a diverse and fluid array of complex laws and regulations (including tax laws and regulations), including those related to theuse of our spectrum, our ability to comply with the restrictive covenants of our financing arrangements and limitations on our ability to incuradditional indebtedness, any cyber-related attacks and other security breaches, our ability to obtain and maintain adequate insurance PART I - FINANCIAL INFORMATION GLOBALSTAR, INC.CONSOLIDATED BALANCE SHEETS(In thousands, except par value and share data)(Unaudited) See accompanying notes to unaudited interim condensed consolidated financial statements. GLOBALSTAR, INC. 1. BASIS OF PRESENTATION Through its global satellite network, Globalstar, Inc. (“Globalstar” or the “Company”) provides Mobile Satellite Services (“MSS”)including wholesale capacity services and voice and data communications services to retail, business and governmental customers. TheCompany’s only reportable segment is its MSS business.Thermo Companies, through commonly controlled affiliates (collectively, The Company has prepared the accompanying unaudited interim condensed consolidated financial statements in accordance withgenerally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information. Certaininformation and footnote disclosures normally included in financial statements have been condensed or omitted pursuant to the rules andregulations of the Securities and Exchange Commission (the “SEC”); however, management believes the disclosures made are adequate to The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimatesand assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of thefinancial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ fromestimates. The Company evaluates estimates on an ongoing basis. Certain reclassifications have been made to prior period condensed