Space42 reports strong Q1 2026 results
Summary
Space42 reported strong Q1 2026 financial results with revenue of USD 116 million, EBITDA of USD 52 million (45% margin), net profit of USD 5 million, and more than USD 1 billion in cash. Space Services revenue rose 15% year-on-year, supported by a USD 700 million, 15-year government capacity services contract tied to Thuraya-4, and the company has USD 6.4 billion in contracted future revenues. Smart Solutions advanced its geospatial and AI offerings, completed in-orbit testing of multiple Foresight satellites developed with ICEYE, and scaled the GIQ geospatial intelligence platform now available on the Microsoft Azure marketplace. The company progressed partnerships and initiatives including a Viasat joint venture for Direct-to-Device connectivity, advanced HAPS development, and several MoUs for mapping, wildlife monitoring, and autonomous mobility in the region.