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Globalstar Partner Global Telesat Communications Sees Massive 35% YoY Growth in SPOT and Satellite IoT Device Sales in 2024

1. Globalstar's sales increased by 35% in 2024 compared to the previous year. 2. GTC sold over 10,800 Globalstar devices in 2024, driven by SPOT products. 3. Demand is rising from consumers and organizations for remote safety solutions. 4. Commercial IoT devices like SmartOne C are experiencing high demand as well. 5. Globalstar's SPOT devices are favored for their ease of use and affordability.

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FAQ

Why Bullish?

Increased sales and demand reflect strong market performance, similar to past sales boosts.

How important is it?

Sales growth and increased demand for Globalstar products directly impact GSAT’s market perception and stock.

Why Short Term?

Current sales trends suggest immediate revenue growth; however, long-term sustainability needs monitoring.

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NXPLGTC
DUBLIN--(BUSINESS WIRE)--Globalstar Europe Satellite Services Ltd., a wholly owned subsidiary of Globalstar, Inc. (NYSE American: GSAT), the next-generation mobile satellite and communications service provider, today announced that UK-based wireless and satellite technology reseller, Global Telesat Communications (GTC), a subsidiary of NextPlat Corp. (NASDAQ: NXPL), has seen sales of Globalstar SPOT and satellite IoT devices dramatically increase, a 35% boost compared to the same period in 2023. “We’ve seen extraordinary growth in sales of Globalstar’s products this year, particularly for SPOT,” reports David Phipps, Managing Director of GTC and CEO of Global Operations of NextPlat Corp. One of Europe’s most successful Globalstar resellers, GTC has achieved another milestone of having sold over 10,800 Globalstar devices in 2024, driven by SPOT Gen4, SPOT X, SPOT Trace and SmartOne C satellite IoT transmitters. Phipps says that SPOT’s ease of use and economical price are the key drivers in accelerated uptake. “SPOT is really easy to use and has a very economical price; for many people, it simply ticks all the boxes,” he says. In May 2024, GTC celebrated reaching a total of 45,000 Globalstar device sales overall, shortly after Globalstar announced the 10,000th rescue worldwide, thanks to the reliable and ubiquitous satellite-enabled tracking and SOS capabilities in Globalstar’s product portfolio. Phipps says new sales are coming from a mix of individual consumers and organisations choosing SPOT to safeguard remote-working and at-risk employees. Commercial customers include utilities suppliers, as well as civil and national defence organisations. GTC has seen accelerated demand from humanitarian aid NGOs, and other parties operating in regions affected by political instability or conflict. GTC has also seen increased uptake of Globalstar’s commercial IoT devices, for applications in a range of industries. Phipps reports continuous demand for SmartOne C, GTC’s bestseller in this category, with one customer having recently procured a large number of units to monitor oil and gas pipelines. “We are extremely proud of our partnership with GTC, and we congratulate the company for its ongoing success,” said Mark O’Connell, Globalstar EMEA & APAC General Manager. About Globalstar, Inc. Globalstar empowers its customers to connect, transmit, and communicate in smarter ways – easily, quickly, securely, and affordably – offering reliable satellite and terrestrial connectivity services as an international telecom infrastructure provider. The Company’s LEO satellite constellation ensures secure data transmission for connecting and protecting assets, transmitting critical operational data, and saving lives for consumers, businesses, and government agencies across the globe. Globalstar’s terrestrial spectrum, Band 53, and its 5G variant, n53, offers carriers, cable companies, and system integrators a versatile, fully licensed channel for private networks with a growing ecosystem to improve customer wireless connectivity, while Globalstar’s XCOM RAN product offers significant capacity gains in dense wireless deployments. In addition to SPOT GPS messengers, Globalstar offers next-generation IoT hardware and software products for efficiently tracking and monitoring assets, processing smart data at the edge, and managing analytics with cloud-based telematics solutions to drive safety, productivity, and profitability. For more information, visit www.globalstar.com and connect with us on LinkedIn. About GTC Global Telesat Communications Ltd (GTC), a subsidiary of NextPlat Corp. (NASDAQ: NXPL), is a supplier of mobile voice and data communications services via satellite. GTC provides equipment and airtime for use on all the major satellite networks, including Globalstar, allowing users in remote locations to make phone calls, connect to the internet and track assets or personnel anywhere in the world. www.gtc.co.uk About NextPlat Corp NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the Company intends to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications division offering voice, data, tracking, and IoT products and services worldwide serving more than 70,000 customers located in over 165 countries and also provides pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care Inc.

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