UAE-based satellite and analytics business Space42 (the Yahsat satellite and Bayanat analytics company merged in 2024) has reported a 15 per cent decline in revenues to $226 million (€193.5m) in the half-year to June 30th, citing a slowdown in signing expected contracts.

Space42 confirmed that it expects to make an announcement later this year as to its plans for a low Earth orbiting constellation. The aim is to have a service in operation within three years.

The satellite portion (‘Space Services’) of the business reported a modest 2 percent growth in revenues in Q2 although the half-year numbers showed a fall of 2 per cent (to $196 million) compared with the previous year.

The company said they expect growth to accelerate in Q3 as the Thuraya-4 mobile communications satellite, already in geostationary orbit, is brought into use for commercial and military customers. Built by Airbus Defence and Space, Thuraya-4 was launched in January. Commercial service is expected to start in September.

The company ended the half-year with zero debt and about $800 million in cash. Space42 is also looking at launching 20 High-Altitude Platforms (HAPS) to bring them into service during 2026.

Hughes Network Services, owned by EchoStar, is a 20 per cent partner in Space42.

Other posts by :

1. SES announces €0.25c dividend
2. Russia “blinding and destroying” German satellites
3. Bank: AST, Starlink, Kuiper targeting $200bn market
4. Rivada: Is no news good news?
5. SES celebrates Intelsat acquisition
6. Pakistan halts broadband direct-from satellite
7. India stymies Starlink launch
8. Starlink, AST SpaceMobile race for cellular consumers
9. Trouble ahoy for foreign D2D satellites over India?

Categories: Articles, Business, Results

Tags: Space, space42