Globalstar, Inc. (AMEX:GSAT) Q2 2023 Earnings Call Transcript

Rebecca Clary: Yes. Thanks for the question, Mike. So I mean, if you just take the run rate where we are right now, you get to the lower end of the guidance. So I’m not sure exactly if I followed the question. But I think that just based on the results year-to-date and midway through the year, as we sit here in early August, it makes sense. We know enough about the balance of the year to tighten that range.

Michael Crawford: Okay. I thought the company had $113.7 million of revenue in the first half of the year.

Rebecca Clary: Some of that is nonrecurring. As we talked about last quarter, just about $6 million or $7 million that we recognized in the first quarter. We’ve also talked about just kind of the variability and the lumpiness, I guess, that results from that and the revenue recognized under the contract. And that’s just one example. So while that particular item might not be recurring, there might be something else that replaces it. But it’s a little too soon to be precise on that, right? So if you remove that from the run rate, you get to the numbers that we’re forecasting.

Operator: If there are no further questions, I will turn the call back over to Jay Monroe for closing remarks.

James Monroe: Thanks, everyone, for joining the call today, whether you’re on the phone or on the webcast. We appreciate the attention and are obviously very, very pleased with the financial results and anticipate those results continuing and growing and look forward to an opportunity to talk to any of you who would like to, from time to time. Otherwise, we’ll reconvene again in 90 days. Have a great day. Thank you.

Operator: This meeting is now concluded. You may now disconnect.