Abu Dhabi, UAE, May 14, 2026--Space42, today announced its consolidated financial results for the three months ended March 31, 2026. The Company’s shares are listed on the Abu Dhabi Securities Exchange under the symbol SPACE42 (ISIN: AEE01122B228). In Q1 2026, Space42 delivered a robust financial performance, recording an increase in revenue and maintaining the momentum of the final quarter of 2025. It continued to execute across its four core strategic pillars while exercising rigorous control of its cost base, ensuring strong levels of profitability and margin.
The Group reported revenues of US$ 116 million, an increase on prior year, underpinned by record Q1 performance in Space Services, which saw revenues rise by 15%, marking the fourth consecutive quarter of revenue expansion. This was driven by a robust government business which continued to benefit, year-on-year, from the US$ 700 million, 15-year capacity services contract that commenced on July 1, 2025, following the successful launch of the Thuraya-4 satellite. This trajectory is set to continue as new government and commercial applications are launched during 2026. <>Smart Solutions continued its strategic and operational transformation as it refocused on scalable and programmatic engagements aligned to its core capabilities of Earth Observation, geospatial analytics, and AI.
Space42 maintained a strong balance sheet, closing the quarter with more than US$ 1 billion in cash and USD 6.4 billion in contracted future revenues, providing significant capacity to execute its strategy.
Karim Michel Sabbagh, Managing Director of Space42, commented: “In Q1 2026 Space42 maintained momentum with another quarter of year-on-year revenue growth, rigorous cost discipline and a relentless focus on strategic execution. The business delivered a strong financial performance during a period of regional unrest, reflecting the resilience of our operating model and the firm foundations we have laid. The strong performance also underscored the dual-use remit of Space42. Space Services delivered its highest-ever Q1 revenue while Smart Solutions continued its strategic transformation toward programmatic, higher-value engagements aligned to our core capabilities. We continue to invest in the infrastructure, partnerships, and capabilities that will define Space42 in the years to come.”
