ABU DHABI, 12th November, 2026 (WAM) -- Space42, the UAE-based AI-powered SpaceTech company with global reach, today announced its consolidated financial results for the first nine months of 2026.
The Abu Dhabi Securities Exchange-listed company delivered an outstanding financial performance for the 9-month period ended 30 September 2026, delivering double-digit revenue growth and a significant increase in profitability whilst continuing to execute across its four core strategic pillars.
The Group reported revenues of US$ 404 million, an increase of 11% year-on-year, with both businesses, Space Services and Smart Solutions, growing strongly as they continue to deliver scalable, dual-use applications.
Space Services delivered a record performance, growing revenue by 11% to US$ 340 million, driven by a robust government business including the US$ 700 million, 15-year capacity services contract that commenced on July 1, 2025, following the successful launch of the Thuraya-4 satellite. The business remains on course to deliver its strongest ever annual performance in 2026.
Smart Solutions increased revenue by 16% year-on-year, driven by rising government demand for geospatial intelligence and situational awareness, reinforced by sovereign requirements.
The Group reported normalized EBITDA of US$ 194 million, an increase of 30% year-on-year, generating a superior margin of 48%, reflecting the turnaround within Smart Solutions and its return to profitable growth as its strategic transformation gathers pace.
Space42 continued to maintain a strong balance sheet, closing the period with an enhanced cash position of over US$ 1.3 billion and a backlog of US$ 6.2 billion, providing a firm foundation upon which to deliver its strategic objectives.
During the period, Space42 successfully progressed its share buyback program of up to 2.5% of the Company's issued share capital, with approximately 37% now completed. The program reflects the Company’s confidence in its long-term future and its belief that the current share price undervalues the intrinsic value of the business.
Karim Michel Sabbagh, Managing Director of Space42, commented: "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.
Space Services delivered a record performance whilst Smart Solutions continued to advance its transformation towards programmatic, higher-value dual-use engagements focused on its core capabilities of EO and geospatial analytics.
During the period, Space42 continued to focus on strategic execution, culminating in the binding agreement with Viasat to co-found Equatys, thereby creating the first shared space and ground infrastructure platform for global Direct-to-Device and advanced MSS connectivity."