Space 42, listed on the Abu Dhabi Securities Exchange, has announced its consolidated financial results for the year 2025, highlighting a return to quarterly growth driven by strong momentum in the latter half of the year, particularly in its space services division, which achieved historic performance.
The revenue for the final quarter increased by 7% year-on-year, signaling an acceleration in operational activity as the company approaches the completion of its strategic transformation. The total revenue for the year reached $577 million, reflecting an 8% decrease compared to the previous year, affected by ongoing restructuring within the smart solutions unit and a shift towards long-term sustainable revenue programs.
The space services unit, which accounts for over three-quarters of total revenue, saw an annual growth rate of 6%, achieving record pre-tax earnings and net profit. This growth is attributed to the activation of a new 15-year government contract worth $700 million in July 2025, following the successful launch of the Thuraya-4 satellite, along with strong revenue performance from orbital solutions. The unit also experienced consecutive quarterly revenue growth throughout the year, with expectations for this trend to continue into 2026, bolstered by the rollout of new government and commercial applications.
In contrast, the smart solutions unit generated $124 million in revenue, a 39% decline, due to a transition towards an operational model centered on advanced geospatial solutions and artificial intelligence, focusing on long-term recurring revenue.
The company concluded the year with close to $1 billion in cash and short-term deposits, alongside $6.5 billion in contracted future revenue, reflecting a solid financial position and the company’s capability to fund its expansion plans.
Strategically, Space 42 has reinforced its status as a preferred partner in geospatial data by expanding its Foresight satellite constellation with the launch of Foresight-3, Foresight-4, and Foresight-5 in collaboration with ICEYE. The company also announced a partnership with Microsoft and Esri to provide high-resolution mapping services covering 54 African countries over five years.
In the non-terrestrial communications sector, Thuraya-4 has entered commercial operations as one of the largest satellites specializing in mobile communication services worldwide. The company announced the Equatis project in partnership with Viasat to deliver direct connectivity services between devices and satellites, based on fifth-generation standards and a scalable global infrastructure.
The Yahsat-4 and Yahsat-5 programs continue to progress on schedule, supported by a $5.1 billion government contract spanning 17 years, with an expected annual revenue generation of about $300 million beginning in the fourth quarter of 2026, reinforcing the company’s position in secure defense and civilian communication solutions.
Regionally, the company has expanded its presence in the autonomous mobility sector through a joint venture with A2Z to deploy Level 4 autonomous driving solutions in the Middle East and Africa, along with agreements with local entities to develop smart security systems and autonomous vehicles, as well as a data-sharing partnership with General Motors in the field of 3D mapping.
Thus, Space 42 enters 2026 with growing operational momentum, a strong financial foundation, and a portfolio of long-term contracts, enhancing its capability to achieve sustainable growth and solidify its position as a leading Emirati player in the global space and advanced technology arena.