Space42 Sees Revenue Surge and Prepares for New Service Launch

Aug 6, 2026

90 min

Aug 6, 2026 08:31

Space42 revenue rises 15%, satellite-to-phone services near rollout

## Revenue Growth and Financial Performance

Space42 experienced a significant 15% increase in revenue during the first half of 2026, reaching $260 million. This growth was driven by strong performances in satellite services and geospatial intelligence. The company ended the period with over $1.1 billion in cash and a backlog of $6.3 billion, ensuring future revenue potential.

## Satellite Services and New Contracts

The satellite services division saw a 15% revenue boost, supported by a major $700 million contract initiated in July 2025. This contract followed the successful launch of the Thuraya-4 satellite. Space42 anticipates this division will achieve its best annual performance in 2026.

## Direct-to-Device Service Rollout

Space42, in collaboration with Skylo Technologies, successfully tested direct-to-device SMS and SOS services using the Thuraya-4 satellite. The commercial rollout of these services is expected by the end of 2026. Additionally, the company is working with Viasat on Equatys, a global connectivity network using a 5G non-terrestrial system.

## Future Satellite Programs

The Al Yah 4 and Al Yah 5 satellite program is on track, backed by a $5.1 billion government contract. This program is projected to generate $300 million annually starting in late 2026. Space42 is also developing a multi-orbit strategy to enhance broadband services.

## Autonomous Driving and Strategic Initiatives

Space42 is advancing a joint venture with Autonomous A2Z to introduce Level 4 autonomous driving services in the Middle East and Africa. The company is also collaborating with Abu Dhabi Mobility to create a national geospatial navigation platform.

## Share Buyback and Strategic Outlook

A share buyback program covering up to 2.5% of issued share capital is planned for the third quarter of 2026, pending regulatory approval. This move reflects Space42's confidence in its long-term growth prospects and the belief that its current share price undervalues the company.

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