Analysts at Quilty Space have updated its model to include a forecast for Starlink’s broadband-by-satellite division for 2026. Quilty projects revenues of $15.9 billion (€13.6bn), EBITDA of $11 billion, and Pro-forma free cash flow of $4.9 billion.

Quilty’s report suggests that by the end of this year Starlink could have 8.2 million customers, and “sustaining double-digit growth while many rivals remain stuck at the gate”.

The analysts also suggest that recent price cuts in some markets have not impacted revenues to any great extent, saying: “Consumer revenues still on track for $10.3 billion by 2026”.

Quilty also reminds clients that India’s access for Starlink is about to be unlocked. “Regulatory clearance tees up one of the most significant new-market rollouts on Starlink’s global map.”

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Tags: elon musk, quilty, starlink