GomSpace Group AB (GOMX) AI Stock Analysis

• Market Cap: kr2.74B
• Dividend Yield: N/A
• Average Volume (3M): 814.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.26
• Revenue Growth: 9.60%
• EPS Growth: 40.86%
• Country: SE
• Employees: 176
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): 0.00
• Shares Outstanding: 168,669,160
• 10 Day Avg. Volume: 471,169
• 30 Day Avg. Volume: 814,195
• PEG Ratio: 1.34
• Price to Book (P/B): 13.22
• Price to Sales (P/S): 5.85
• P/FCF Ratio: -26.52
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): kr572.20M

• Rating: 48 Neutral
• Price Target: kr17.50 ▼(-5.41% Downside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is held back primarily by weak cash generation (negative operating and free cash flow in 2025) and a still-lossmaking bottom line despite improving operating margins. Technicals are also bearish with the price below key moving averages and negative MACD. Balance sheet improvement helps, but valuation remains constrained by losses and no provided dividend yield.

Positive Factors

Revenue growth and margin improvement

Sustained top-line acceleration and visible margin expansion signal improving operational execution and stronger product-market fit in small-satellite markets. Higher gross and EBITDA margins increase capacity to reinvest in R&D and backlog fulfilment, supporting durable revenue quality over the medium term.

Material deleveraging

Significant reduction in leverage improves financial flexibility, lowers fixed interest burdens, and expands capacity to fund contracts, capex, or selective M&A without excessive dilution. A healthier capital structure materially raises resilience against cycle stress and supports multi-month strategic execution.

Diversified revenue streams

A business model spanning standard subsystems, integrated satellites, engineering/integration services, and software/operations enables cross-selling and reduces dependency on single large contracts. This mix smooths project timing, supports repeat customer relationships, and enhances long-term cash generation potential.

Negative Factors

Weak cash generation

Negative operating and free cash flow erode liquidity and force reliance on external financing or equity raises. Persistent cash outflows constrain the company’s ability to fund working capital, scale production for multi‑mission contracts, and invest steadily without periodic capital injections.

Persistent net losses

Despite operational improvement, the continued bottom-line loss prevents retained-earnings accumulation and delays return-to-profitability narratives. Ongoing losses limit strategic flexibility, can pressure investor confidence, and impede converting improved operating margins into sustained shareholder value.

Profitability volatility

Historical swings from deep losses to improved EBITDA highlight volatile, project-driven revenue and margin dynamics. This earnings inconsistency complicates long-term planning, pricing on fixed-price contracts, and may raise customer or supplier concerns about execution consistency across multi-month space projects.

GomSpace Group AB Business Overview & Revenue Model

Company Description

GomSpace Group AB (publ), through its subsidiaries, designs, develops, integrates, and manufactures nanosatellites for the academic, government, and commercial markets. The company offers mission payloads in the areas of software defined radio, aircraft and ship tracking, ADS-B patch antenna, and optical earth observation; and power and communication systems, command and data handling products, attitude and orbit control systems, ground systems, and various ready to integrate structures. Its products are used in global tracking, Internet of things, communication, defense and security, remote sensing, and science mission applications. It operates in Denmark, Sweden, other European countries, the United States, Asia, and internationally. The company was formerly known as GS Sweden AB and changed its name to GomSpace Group AB (publ) in June 2017. GomSpace Group AB (publ) was founded in 2007 and is based in Uppsala, Sweden.

How the Company Makes Money

GomSpace generates revenue through multiple streams, primarily from the sale of satellite systems and components, as well as through service contracts for satellite operations and data services. The company engages in contracts with governmental, commercial, and educational institutions, providing tailored satellite solutions to meet specific needs. Key revenue drivers include the delivery of nanosatellites, development of satellite subsystems, and ongoing support services. Additionally, GomSpace has established significant partnerships with other aerospace entities and universities, enhancing its market reach and capabilities, which further contributes to its financial performance.

GomSpace Group AB Financial Statement Overview

Summary

Income statement momentum improved (2025 revenue up ~29% YoY with gross margin ~34% and EBITDA margin ~15%), and leverage fell meaningfully (debt-to-equity ~0.63x). However, the company still posted a net loss (~-6% net margin) and cash flow is the main weakness, with operating and free cash flow turning deeply negative in 2025.

Income Statement

Revenue accelerated meaningfully in 2025 (up ~29% year over year) and profitability improved sharply versus 2024, with gross margin expanding to ~34% and EBITDA margin turning solidly positive (~15%). However, the company still reported a net loss in 2025 (net margin ~-6%), and profitability has been volatile over the period (deep losses in 2022–2024). Overall: clear operational momentum, but not yet consistently profitable at the bottom line.

Balance Sheet

Leverage improved substantially from 2024, with debt-to-equity falling from very elevated levels (~4.4x) to a more moderate ~0.63x in 2025 alongside a much stronger equity base. That said, returns remain negative (ROE still below zero in 2025), indicating the balance sheet is healthier but earnings power has not fully normalized. Overall: materially better capital structure, but profitability still weighs on quality.

Cash Flow

Cash generation weakened in 2025, with operating cash flow turning negative and free cash flow also deeply negative, reversing the positive cash flow profile seen in 2024. Free cash flow deterioration is pronounced (large negative growth), suggesting working-capital swings and/or higher investment needs. Overall: cash flow is the main pressure point despite improved operating results.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	341.98M	441.80M	257.05M	237.84M	198.38M	213.60M
Gross Profit	95.68M	151.67M	75.82M	18.62M	-51.12M	49.02M
EBITDA	11.42M	64.75M	-25.18M	-27.02M	-156.49M	3.56M
Net Income	-102.57M	-27.24M	-86.92M	-92.60M	-227.82M	-27.33M
Balance Sheet
Total Assets	346.77M	695.76M	326.70M	302.21M	334.17M	395.80M
Cash, Cash Equivalents and Short-Term Investments	29.38M	213.49M	82.50M	61.08M	33.10M	99.27M
Total Debt	81.84M	122.96M	101.84M	90.73M	108.91M	46.67M
Total Liabilities	358.66M	500.27M	303.49M	192.42M	229.37M	170.91M
Stockholders Equity	-11.89M	195.49M	23.21M	109.78M	104.80M	224.89M
Cash Flow
Free Cash Flow	24.01M	-97.45M	38.13M	-55.50M	-209.32M	-24.28M
Operating Cash Flow	24.07M	-46.96M	38.29M	-47.91M	-159.07M	3.20M
Investing Cash Flow	-33.36M	-47.86M	-15.03M	-7.47M	-44.82M	-25.81M
Financing Cash Flow	-7.06M	229.46M	-8.22M	84.85M	132.85M	-16.93M

GomSpace Group AB Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:GOMX, the sentiment is Negative. The current price of 18.5 is below the 20-day moving average (MA) of 18.91, below the 50-day MA of 20.68, and above the 200-day MA of 16.29, indicating a bearish trend. The MACD of -1.14 indicates Positive momentum. The RSI at 32.85 is Neutral, neither overbought nor oversold. The STOCH value of 25.55 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:GOMX.

GomSpace Group AB Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SAAB.B	70 Outperform	kr370.70B	45.69	13.56%	0.39%	22.49%	30.47%
AVT.B	69 Neutral	kr393.10M	30.50	33.71%	1.22%	34.25%	57.77%
CTT	64 Neutral	kr1.67B	111.42	―	2.75%	-3.14%	-35.70%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
MILDEF	53 Neutral	kr6.18B	37.97	10.29%	0.41%	47.87%	-439.87%
GOMX	48 Neutral	kr2.74B	-94.90	―	―	9.60%	40.86%
AAC	46 Neutral	kr754.64M	-13.95	-6.70%	―	30.82%	57.74%