Commercial IoT Parts Problems Should Be Clearing, Globalstar Says

Though Globalstar's commercial IoT business was hit by component parts shortages in its most-recent quarter, it has several thousand units on back order and expects to resume production in Q2 to fill them, the company said Thursday, announcing its latest earnings. It said Q1 revenue was $5.8 million, up 22% year over year due to increased engineering services revenue more than offsetting a decline in subscriber equipment sales revenue.