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 on-going 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.

Space Services, the largest business unit, increased Q3 revenues by 11% vs the previous quarter, underpinned by a new US$700 million, 15-year government contract, which started on 1 July, following the successful launch of Thuraya-4, as well as double-digit revenue growth in Managed Solutions. This momentum is expected to continue 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, "Since the formation of Space42 one year ago, we have laid the foundation for sustainable growth. We have strengthened our dual-use capabilities, optimized our cost base, and continue to transition the Smart Solution business to programmatic engagements aligned to our strategic capabilities of Earth observation, geospatial analytics and AI whilst retiring legacy non-aligned projects.

"The third quarter demonstrates our progress with both business units delivering quarter-on-quarter revenue growth whilst simultaneously advancing critical strategic initiatives such as the launch of Equatys for Direct-to-Device connectivity, with potential to significantly transform the company’s growth trajectory.”