Space42 Reports Full-Year 2025 Earnings and returns to Quarterly Growth

Final quarter revenues increase 7% year-on-year, with accelerating momentum in the second half

Space Services grows revenues by 6% year-on-year and records highest-ever normalized EBITDA

Strategic execution lays foundation for long-term, sustainable growth

Abu Dhabi, UAE, February 26, 2026: Space42, the UAE-based AI-powered SpaceTech company with global reach, today announced its consolidated financial results for the full year of 2025. The company is listed on the Abu Dhabi Securities Exchange under symbol SPACE42 (ISIN: AEE01122B228).

In 2025, Space42 advanced its strategy-based transformation, delivering measurable progress across each of its four core strategic pillars while expanding its partnerships with leading global players. The business, comprising Space Services and Smart Solutions, showed accelerating momentum during the second half, with final quarter revenues increasing 7% compared to 2024, setting the stage for a return to growth in 2026.

Space Services, accounting for more than three quarters of consolidated revenue, recorded one of its strongest ever performances, increasing revenue by 6% and posting its highest-ever normalized EBITDA and net profit. This was driven by the new USD 700 million, 15-year government contract, which started on July 1, following the successful launch of the Thuraya-4 satellite, as well as an exceptionally strong performance across the portfolio of managed solutions. Space Services recorded consecutive quarterly revenue growth throughout 2025, a trajectory that is set to continue in 2026, as new government and commercial applications are launched to complement Thuraya-4.

Smart Solutions, accounting for less than one quarter of consolidated revenue, recorded revenue of USD 124 million, a decline of 39%, reflecting its ongoing strategic and operational transformation, as it refocuses on programmatic engagements aligned to its strategic capabilities of Earth Observation, geospatial analytics and AI.

The company's full year consolidated revenues of USD 577 million declined 8% year-on-year, reflecting the transition underway in Smart Solutions alongside continued investment in the company's strategy-based transformation. Full year results include one-off impairment charges of USD 129 million relating to pre-merger Smart Solutions. Excluding one-off items, Space42 delivered a normalized EBITDA of USD 224 million, generating a margin of 39%.

The company closed the year with approximately USD 1 billion in cash and short-term deposits and USD 6.5 billion in contracted future revenues, providing significant balance sheet capacity to execute its strategy.

Karim Sabbagh, Managing Director of Space42, commented: In 2025 we laid the foundations for Space42's future. We invested in infrastructure, global partnerships and capabilities that will define Space42 in the years to come, whilst retiring legacy practices that no longer serve our ambition. Our financial results confirm that we are on the right track: Space Services delivered one of its strongest ever performances and Smart Solutions transition to programmatic engagements aligned to our strategic capabilities is progressing as planned. We enter 2026 with renewed momentum: an accelerating revenue profile, an optimized cost base, a strong balance sheet and a relentless focus on strategic execution.

Delivering Across Four Strategic Pillars and Sectorial Priority

Preferred Partner for Premium Geospatial Data

Expansion of the Foresight constellation following successful launch of Foresight-3, -4, and -5 satellites in November 2025, developed in partnership with ICEYE, significantly enhancing Smart Solutions' programmatic dual-use capabilities. These satellites were fully integrated and tested in the Middle East's first dedicated commercial Synthetic Aperture Radar (SAR) satellite manufacturing facility, developed in partnership with the Abu Dhabi Investment Office (ADIO).

Announced a partnership with Microsoft and Esri to deliver high-resolution base maps across 54 African countries over the next 5 years, providing geospatial data to support infrastructure development and investment decisions while expanding Smart Solutions' capabilities and positioning it for future national geospatial programs.

Validated Mira Aerospace's High Altitude Platform Systems (HAPS) for commercial deployment following the successful test flight of the solar-powered Apus Neo platform and the completion of Europe's first commercially licensed HAPS flight in partnership with Telespazio Spain, opening addressable markets across environmental monitoring, intelligence, and emergency response.

Global Leader in Geospatial Intelligence AI Platform and Services

Transitioned Smart Solutions' AI-powered geospatial intelligence platform, GIQ, from project-based deployments to a globally available commercial offering on the Microsoft Azure marketplace, establishing the foundation for recurring, subscription-based revenue through industry-specific solutions at scale.

Expanded capabilities across unmanned platforms and sensing technologies, strengthening solutions designed to support and protect national infrastructure.

Global Non-Terrestrial Connectivity (NTN) Leader

Underpinned by a USD 700 million, 15-year Government contract, Thuraya-4 entered commercial service as one of the largest geostationary Mobile Satellite Services (MSS) platforms ever produced. The satellite introduced 16 new products and an expanded coverage area, serving as a key revenue driver in Space Services in 2025 and beyond.

Announced plans to launch Equatys with Viasat, creating a significant new revenue stream through Direct-to-Device satellite connectivity, with commercial service targeted within three years. The standards-based 5G NTN open architecture will serve Mobile Network Operators (MNO)[1], delivering cov

LINK:	https://www.space42.ai:443/en/press-release/2026/fy-2025-press-release...
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