Space42 posts $363m revenue, expands autonomous mobility push with new UAE–Korea venture

Dubai: Space42 reported $363 million in revenue for the first nine months of 2025, reflecting a 15% decline tied to the restructuring of its Smart Solutions business. The company said margins remained solid, supported by operational optimisation and quarter-on-quarter growth across both business units.

Normalised EBITDA stood at $158 million, while normalised net profit reached $61 million. Cash and short-term deposits totalled $755 million, and contracted future revenues amounted to $6.7 billion. The group also secured a $696 million ECA-backed facility for its Al Yah 4 and Al Yah 5 satellite programme.

Space Services regains momentum

Space Services delivered an 11% revenue increase in Q3 following the start of a $700 million, 15-year government contract linked to the Thuraya-4 launch. Managed Solutions also recorded double-digit growth. Space42 expects further gains as new defence and commercial applications come online.

“Since the formation of Space42 one year ago, we have laid the foundation for sustainable growth. We have strengthened our dual-use capabilities, optimised our cost base, and continue to transition the Smart Solution business to programmatic engagements aligned to our strategic capabilities of Earth observation, geospatial analytics and AI whilst retiring legacy non-aligned projects,” said Karim Sabbagh, Managing Director of Space42.

Strategic delivery across core pillars

The company advanced its geospatial and AI portfolio through continued deployment of the Foresight satellites, a five-year mapping collaboration with Microsoft and Esri across 54 African countries, and scaling of its GIQ platform.

In connectivity, Thuraya-4 entered service on 1 July. Space42 also announced Equatys, developed with Viasat, to deliver Direct-to-Device connectivity through a multi-orbit 5G NTN architecture.

Secure communications advanced as Al Yah 4 and Al Yah 5 moved through design milestones under a $5.1 billion, 17-year government contract.

Joint venture to accelerate autonomous mobility

Space42 and South Korea’s Autonomous A2Z have formed a joint venture to deploy Level-4 autonomous vehicles in the UAE. The partnership will retrofit existing fleets and roll out V2X technologies across transport, logistics, airports and municipal services.

Initial pilots will begin in Abu Dhabi and Dubai with a fleet of five autonomous vehicles, followed by full commercialisation. A local R&D and integration facility will support the build-out.