In H1 2025, Space42 delivered a resilient performance with a normalized net profit of USD 53 million, consistent with the prior period and achieved an increased margin through strong operational optimization and strategic execution. The company closed the period with USD 816 million in cash and short-term deposits and secured a new USD 0.7 billion ECA-backed funding facility, supported by contracted future revenues totaling USD 6.8 billion and significant progress across its four strategic pillars.
Karim Sabbagh, Managing Director of Space42, stated: “H1 2025 demonstrates our commitment to operational excellence and capability building. The momentum across our platform shows that our dual-use capabilities deliver both commercial success and strategic value. With Thuraya-4 entering commercial operation and our programmatic approach taking hold, combined with sustained optimization, we’re positioned for growth aligned with market demand.”
Space Services posted 2% year-on-year revenue growth in Q2 2025, reaching USD 100 million, driven by strong double-digit expansion in the oil and gas segment. The business excelled across secure communications and mobile satellite services, benefiting from increasing demand for secure and sovereign communications in the UAE—a trend expected to continue medium to long term.
Growth is projected to accelerate in H2 2025 as the Thuraya-4 satellite begins commercial operations, providing new mobile satellite services for defense, security, and commercial markets. The company also advanced its direct-to-device (D2D) future space system with important milestones anticipated in the latter half of 2025.
Smart Solutions, despite underperforming due to the timing of multi-year engagements it is seeding, continued building programmatic capabilities, with new programs expected online in H2 2025. The division focuses on manufacturing and deploying the Foresight system, which consists of seven next-generation Earth observation SAR satellites, while progressing its GIQ geospatial analytics platform. This platform, now available on Microsoft Azure Marketplace, addresses a growing global market for dual-use geospatial intelligence and has received the Future Fit seal from the UAE Government through the UAE Space Agency.
Additionally, Space42 made progress in its D2D future space system, collaborating with Viasat to establish a shared multi-orbit standard-based 5G Non-Terrestrial Network (NTN) open architecture and globally scalable platform, with key milestones slated for announcement in H2 2025.
