Space42, the Abu Dhabi-based, AI-powered SpaceTech company listed on the Abu Dhabi Securities Exchange (ADX: SPACE42), has reported strong results for the first nine months of 2026, with double-digit revenue growth and a sharp rise in profitability.
9M 2026 results at a glance
- Revenue: USD 404 million, up 11% year on year
- Normalized EBITDA: USD 194 million, up 30%, a 48% margin
- Space Services revenue: USD 340 million, up 11%, its strongest nine months yet
- Smart Solutions revenue: up 16%, a second straight quarter of profitable growth
- Cash: more than USD 1.3 billion
- Backlog: USD 6.2 billion
- Share buyback: about 37% of a programme of up to 2.5% of share capital completed
What drove the growth
Space Services benefited from a robust government business, including the USD 700 million, 15-year capacity services contract that began in July 2025 after the launch of the Thuraya-4 satellite. The division is on course for its best annual performance ever in 2026.
Smart Solutions grew on rising government demand for geospatial intelligence and situational awareness, as its transformation towards higher-value, dual-use Earth Observation and geospatial analytics work gathers pace.
Strategic milestones
- Foresight-3, -4 and -5 satellites entered service, with their imagery now commercialised
- Mira Aerospace, with Telespazio Ibérica, began wildfire monitoring in Spain using the ApusNeo18 high-altitude platform
- Continued development of the GIQ and GIX geospatial AI platforms
- A binding agreement with Viasat to co-found Equatys, a shared space and ground infrastructure platform for Direct-to-Device and advanced MSS connectivity
Management comment
Karim Michel Sabbagh, Managing Director of Space42, said: “Space42 has delivered another outstanding performance, with both business units delivering double-digit revenue growth during the nine-month period, underpinned by a robust government business, increased demand for Earth Observation (EO) and geospatial analytics and continued strategic execution.”
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