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. Bank uplifts RocketLab
2. AST SpaceMobile’s BlueBird/FM1 en route to India
3. D2D satellite battle hots up
4. Eutelsat share price rockets
5. AST SpaceMobile recovers after Verizon agreement
6. Bank has mixed messages for AST SpaceMobile
7. EchoStar clears key regulatory hurdles for Starlink deal
8. Starlinks falling to Earth every day
9. 650 Starlink D2C craft in orbit

Categories: Articles, Business, Results

Tags: Space, space42