Strong Data & Services Growth
Data & Services net sales grew ~78.5% year-on-year, representing a high-EBITDA, fast-growing part of the business and driving strategic expansion.
Delivered Positive EBITDA
Company achieved a positive EBITDA for 2025 despite revenues being below expectations, demonstrating cost adaptability and margin control.
New Long-Term Investor (Bonnier Capital)
Bonnier Capital joined as an important long-term investor, providing capital and market endorsement for the company’s strategy and future developments.
Upcoming Satellite Launch Wave (15 Satellites)
Management expects launches of 15 AAC Clyde Space-built satellites in the next ~6 months (mix of company-owned and customer satellites). VIREON 1 & 2 shipped to launch site with nominal end-of-March launch window; Sedna 3 & 4 under construction for upcoming launches.
VIREON Commissioning Timeline to Revenue
After launch, VIREON satellites expect ~3 months commissioning before entering revenue-generating operations, providing a clear near-term path to increase Data & Services revenue.
EPS-Sterna Project Restarted (Green Light)
EUMETSAT received go-ahead on 12 January and signed agreement with ESA on 27 January to start procurement; company is in final negotiations and expects to begin work soon — a major backlog/cash-flow driver when it starts.
INFLECION Phase 2 Progress
Phase 1 nearing close and discussions with ESA on Phase 2 are progressing, important for a constellation targeted in late 2027/2028 and for expanding maritime services.
Strategic Investments to Support Growth
Company is expanding sales and data-management teams and investing in data processing/distribution infrastructure to prepare for new satellites and future revenue growth.