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Globalstar GLOBALSTAR ANNOUNCES SECOND QUARTER 2021 RESULTS Covington , LA , August 5 , 2021 -- Globalstar , Inc. ( NYSE American : GSAT ) today announced its operating and financial results for the quarter ended June 30 , 2021 . Dave Kagan , Chief Executive Officer of Globalstar , commented , “ We are pleased with the improvement of several key performance indicators during the second quarter , including a significant increase in SPOT and Commercial IoT equipment sales , which is a leading indicator of future subscriber activations and service revenue growth . SPOT activations continue at record levels with LTM gross activations up 26 % from the prior period , while Commercial IoT ARPU continues to increase driven by higher usage and a favorable rate plan mix . We have executed on our robust sales pipeline while opening up new opportunities that would expand the customer relationships and distribution channels that we currently serve . " Kagan continued , " Many people in our organization are focused on the blocking and tackling associated with supporting our existing VAR relationships , progressing our product development efforts , and developing our next generation of network assets . These fundamental roles are critical to our success and they have been hitting on all cylinders . However , what will be essential to our ability to meaningfully capitalize on the vast opportunities available to us , particularly in the Commercial IoT space , is identifying , pursuing and closing large deals . One such opportunity in particular is remote monitoring in the alternative energy industry , which has progressed over the last few months with successful field testing . While this opportunity isn't yet secured , deployments such as this one will expand the use cases and industries that our products can support , which would further reduce the oil and gas concentration that contributed to lower demand during 2020 and provide a more diverse revenue base . " We also continue to reduce leverage , and I am happy to report that we have less than $ 50 million of net first lien principal outstanding and we are working to continue to optimize our balance sheet . " Jay Monroe , Executive Chairman of Globalstar , commented , " Dave and his team are executing on the plan to transition the satellite business to an internet of things focused service and I am confident that the new products in the pipeline will meet the evolution of the IoT space beyond the reach of cellular . The spectrum opportunity is also progressing very rapidly , and its potential gets clearer to us every quarter . While Nokia , Airspan and XCom continue to pursue Band 53 opportunities , we have added to the growing list of Band 53 supporters to now include a large global systems integrator . We have deployed our first revenue producing private network in Africa at a large mining complex and have made promising inroads with several large potential partners across the continent while continuing to execute on opportunities in the western hemisphere . " Monroe concluded , " Lastly , the international regulatory effort continues across four continents and we expect to announce additional regulatory wins that will take us to over one billion people covered by Band 53 authorities . This is a very nice time to be at Globalstar with the capital structure greatly improved and the realization of our long held strategy closer and closer to our grasp . " FINANCIAL REVIEW Revenue Total Revenue Total revenue for the second quarter of 2021 decreased slightly from the second quarter of 2020. Higher revenue generated from subscriber equipment sales was offset by lower service revenue . Service Revenue Service revenue decreased over the prior year's quarter due primarily to fewer Duplex subscribers . While the decline in Duplex subscribers is expected to continue as we focus our resources on other revenue streams , we continue to see consistent subscriber activations and recurring service revenue ; however , these activations are limited by the amount of devices available for sale . 1