Abu dhabi: Space42 today announced consolidated financial results for the first nine months of 2025, reporting revenue of US$363 million. For the nine-month period, the company's consolidated revenues declined by 15%, reflecting the ongoing strategic and operational transformation of Smart Solutions, as it refocuses on programmatic engagements aligned to its strategic capabilities of Earth Observation, geospatial analytics, and AI.
According to Emirates News Agency, Space Services, the largest business unit, increased Q3 revenues by 11% compared to the previous quarter. This growth was underpinned by a new US$700 million, 15-year government contract, which began on 1 July, following the successful launch of Thuraya-4. Additionally, there was double-digit revenue growth in Managed Solutions, with expectations of continued momentum as new defense and commercial applications are launched. Strong operational optimization ensured that the company's consolidated margins remained robust.
The company closed the period with US$755 million in cash and short-term deposits, contracted future revenues of US$6.7 billion, and a newly secured US$696 million ECA-backed financing facility for the Al Yah 4 and Al Yah 5 satellite programme. In October, it received a further US$300 million advance from the UAE government as part of the US$5.1 billion, 17-year related contract, providing additional balance sheet capacity to execute its strategy.
Karim Sabbagh, Managing Director of Space42, commented on the company's progress, stating that since the formation of Space42 one year ago, they have laid the foundation for sustainable growth. The company has strengthened its dual-use capabilities, optimized its cost base, and continues to transition the Smart Solution business to programmatic engagements aligned to its strategic capabilities of Earth observation, geospatial analytics, and AI while retiring legacy non-aligned projects. He emphasized the third quarter's progress, with both business units delivering quarter-on-quarter revenue growth while advancing critical strategic initiatives such as the launch of Equatys for Direct-to-Device connectivity, which has the potential to significantly transform the company's growth trajectory.