Space42 advances strategy execution with solid Q1 2025 results
15 May 2025 18:08
ABU DHABI (WAM) Space42 PLC announced on Thursday its pro forma consolidated financial results for Q1 2025.Since its launch in October 2024, Space42 has continued to execute across its four strategic growth pillars, building the operational and financial foundation needed to scale globally. In Q1 2025, revenue reached $115 million.Despite this, the Company maintained a strong Normalised EBITDA margin of 53% and delivered a Normalised Net Profit of $30 million, in line with Q1 2024. The margin on a normalised basis improved by three percentage points to 26%.Space42 closed the first quarter with $895 million in cash and short-term deposits, contracted future revenues of nearly $7 billion, and tangible progress across each of its four strategic pillars, enabling it to continue scaling decisively and to capture the next wave of opportunity in SpaceTech.Karim Sabbagh, Managing Director of Space42, commented, "We entered 2025 with a clear strategy and a platform built to scale. This quarter reinforced our discipline on margins, the momentum across our four strategic pillars and our focus on long-cycle delivery.'We launched new assets in space, expanded coverage, and advanced programs that strengthen sovereign capabilities and position us to scale internationally. We are executing a model anchored in differentiated infrastructure and downstream applications in satellite communications and AI-enabled geospatial analytics.'Sabbagh added, "Our focus is on programmatic and long-term engagements with our key customers. This go-to-market approach is well established within Yahsat Space Services, and the appropriate transformation is underway within Bayanat Smart Solutions."Our strategy is demonstrated by the dual-use satellite communication and earth observation platforms we are building and the differentiated outcomes we are delivering across national and international markets, with the latter segment to grow in relevance over time. That is how we create enduring value."Space42's disciplined execution continues to drive momentum across its four pillars:1. Preferred Partner for Premium Geospatial Data- Launched Foresight-1 and Foresight-2 satellites, laying the foundation for a scalable Earth Observation constellation that strengthens coverage and revisit rates.- Synthetic Aperture Radar (SAR) manufacturing facility is on track to begin production in H2 2025, enabling sovereign production of high-resolution satellites and ensuring full deployment of Foresight-3, -4, and -5.- High Altitude Platform Stations (HAPS) development site in Abu Dhabi is to be operational by June 2025. First in the region, the new facility will deliver more than 20 HAPS unmanned aircraft vehicles annually, supporting civil, environmental, and defence applications.2. Global Leader in Geospatial Intelligence AI Platform Services- GIQ platform is being scaled as the digital backbone for real-time, AI-powered geospatial analytics, enabling fast, informed decision-making across civil and defence use cases.- MoU signed with FADA and EDGE to establish a national geospatial ecosystem and unlock downstream applications in surveillance, environmental intelligence, and secure mobility, with a total value exceeding USD 100 million.3. Global Leader in Non-Terrestrial Connectivity (NTN)- Thuraya-4 launched successfully; now in orbit and on track for commercial service in H2 2025. The satellite enables a next-generation mobility platform and a suite of new products offering wider coverage, faster speeds, and enhanced capabilities.- MoU signed with Viasat to co-develop a shared multi-orbit standard-based 5G NTN open architecture, creating a globally scalable platform for direct-to-device (D2D) and MSS services.- IP Neo broadband terminal launched in Q1, addressing connectivity needs for critical infrastructure, logistics, and maritime sectors across underserved geographies.- Thuraya One smartphone introduced as a commercial precursor to full D2D rollout, providing seamless integration of satellite and terrestrial networks through a single consumer-grade device.4. Trusted Leader in Secure Connectivity- Al Yah 4 and Al Yah 5 satellite programmes progressing on schedule and within budget; several units are now in the testing phase, with satellite launches planned for 2027 and 2028.These assets will enhance national secure communication capabilities across defence and civil domains
- Thuraya-3 service partially restored across key markets through rapid redeployment of redundant capacity, underscoring operational agility and Space42's commitment to service continuity.
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VISIT WEBSITE Adobe Experience Cloud offers a real-time CDP, letting users create high-value audience segments for B2C and B2B use cases across their marketing funnel. It follows a cookieless marketing approach to automatically unify customer data across various online and offline channels in real-time. VISIT WEBSITE ActionIQ is a composable CDP platform that offers audience segmentation, acquisition marketing, and Customer 360 capabilities. It integrates analytical tools, enabling marketers to collect and analyse their first-party customer data at scale. VISIT WEBSITE Zoho CRM leverages automation and comprehensive analytics to empower any sales team, fostering stronger customer loyalty. Ideal for both small businesses and enterprises, this software enables enhanced productivity and tailored solutions through predictive intelligence. VISIT WEBSITE Zendesk offers Zendesk Sell, an easy-to-deploy CRM platform that is simple to deploy and navigate, catering to businesses of any scale. Its mobile-friendly Sell app has the functionalities of geolocation, helping sales and marketing teams. Offering an all-in-one CRM platform, organisations can implement use cases like prospecting, engagement, lead generation and communication capabilities. VISIT WEBSITE SugarCRM is a global CRM software provider, helping marketing, sales, and service teams improve efficiency through automation, data, and intelligence in near real-time. It offers Sugar Market, an all-in-one marketing automation platform that helps marketers to automate their campaign with higher ROI. VISIT WEBSITE Salesforce is a one-stop sales and support CRM software that regularly updates customer records, tracks emails and calls, and creates organised support processes for quicker customer responses. Its simple and scalable infrastructure is ideal for businesses of all sizes. VISIT WEBSITE Pipedrive stands out with its emphasis on automation, tailorability, and seamless integration. Purposefully built to enhance the efficiency and productivity of sales professionals, this CRM solution has an intuitive setup and robust capabilities. It facilitates lead generation, comprehensive sales analytics, and seamless business expansion. VISIT WEBSITE Oracle NetSuite CRM, a component of Oracle's business software suite, is for all midsize and booming businesses that want a comprehensive, integrated CRM solution with ERP capabilities. Using it, customers and partners can directly interact with the platform, freeing the additional work load for their sales team. VISIT WEBSITE Microsoft Dynamics 365 Sales represents a robust cloud-based CRM solution brimming with features such as pipeline assessment, relationship analytics, and conversational intelligence. It utilises AI-powered insights to provide actionable intelligence via predictive analytics, lead scoring and sentiment analysis. VISIT WEBSITE Less Annoying is a CRM software that utilises a straightforward search feature within its contact management system, making it easy to track contacts. It is ideal for small-sized businesses and offers a highly intuitive and user-friendly interface. VISIT WEBSITE Insightly offers CRM software solutions for enterprises looking to understand their audience data across various marketing functions. It integrates seamlessly with third-party apps, streamlining workflow automation, including bulk emailing and report generation. VISIT WEBSITE HubSpot's sleek dashboard with consolidated CRM tools simplify complex customer data, further transforming it into meaningful insights. Complementing typical CRM functionalities, HubSpot provides tailored options, including conversation intelligence and email monitoring. VISIT WEBSITE Apptivo delivers adaptable and web-based CRM solutions, enabling marketing and sales teams to streamline all customer service requirements across various devices and browsers. Despite its focused feature set, it encompasses over 65 interconnected applications alongside a robust sales pipeline management tool, ensuring efficient tracking of potential leads without any downtime. VISIT WEBSITE Sitecore offers composable cloud solutions with its flagship products, Sitecore Experience Platform(XP) and Sitecore Experience Manager (XM). They help marketers to overcome scalability challenges. Some of its features include intuitive visual editing, headless delivery, marketing automation, scalable personalisation, data and machine learning capabilities. VISIT WEBSITE Salesforce Experience Cloud is a platform that helps enterprises link clients, partners, and employees to securely exchange information and documents. Built on its Customer 360 platform, Salesforce's DXP ensures seamless integration with any solution in the Salesforce ecosystem. VISIT WEBSITE Oracle Cloud offers a comprehensive suite of platform-based marketing automation solutions for personalised B2B and B2C automation campaigns. Some of its featured products are Eloqua Marketing Automation, CrowdTwist Loyalty and Engagement, and Unity Customer Data Platform. VISIT WEBSITE Optimizely is a digital experience platform (DXP) provider that offers Optimizely One, an easy-to-use and fully integrated suite. It provides a single, unified workflow with thoughtfully embedded AI and machine-learning algorithms, accelerating work across the entire marketing lifecycle. VISIT WEBSITE OpenText offers a cloud-native, scalable platform for enterprises to streamline their marketing functions. It provides fully composable content management, digital asset management, creative workflows, personalisation, targeting and customer data technologies in one place, ensuring a holistic approach to B2B, B2E and B2C experiences. VISIT WEBSITE Neptune DXP is a PaaS(Platform-as-a-Service) provider, helping marketing teams build custom apps based on modular, reusable application building blocks. The company offers flexible environments to businesses across different verticals, further providing personalised digital solutions at scale. VISIT WEBSITE Magnolia is a composable DXP that comes with no-code connector packs and low-code micro-frameworks for third-party integrations. It also offers an open-source version alongside its commercial plans enabling enterprises to build tailored use cases. VISIT WEBSITE Liferay DXP helps marketers deliver personalised and connected digital experiences across a broad range of channels, including customer portals, websites, intranets, mobile apps, and connected devices. It offers intuitive CMS, user analytics, and site management tools that businesses need to launch, test and optimise digital experiences for faster go-to-market. VISIT WEBSITE Powered by IBM Consulting, IBM iX offers a composable DXP, providing a comprehensive solution to make enterprises' systems future-ready. Utilising its data-driven insights and intelligent workflows, marketers can design and deliver human-centred experiences across the customer lifecycle. VISIT WEBSITE HCL Digital Experience (DX), forms part of a wider HCL Customer Experience (CX) product portfolio, offering core capabilities such as content management, DAM, CDP called Signals, and low-code application development. It provides services in government, life sciences, insurance, financial services, and other verticals. VISIT WEBSITE Contentstack is a headless CMS and Composable Digital Experience Platform (DXP) solution provider that helps marketers gain a competitive edge. It recently launched into Google Cloud Marketplace, and is also available on Microsoft Azure and AWS. It seamlessly enables mid-market brands to adopt its omnichannel campaign engine to drive higher conversions and sales. VISIT WEBSITE Bloomreach Commerce Experience Cloud provides businesses an edge with its modular capabilities: Content Management System (CMS), Discovery features for search and merchandising optimisation, and Engagement tools such as Customer Data Platforms (CDP) for personalisation and analytics. VISIT WEBSITE Adobe Experience Cloud offers a comprehensive set of services specifically designed to address the day-to-day requirements for personalised customer experience at scale. Its platform helps manage different digital content and assets to improve customer satisfaction. Some of its products include Adobe Gen Studio, Experience Manager Sites, Real-time CDP, and Marketo Engage. VISIT WEBSITE Acquia offers DXP solutions, comprising of two main elements: Acquia Drupal Cloud and Acquia Marketing Cloud. It can be accessed in both platform-as-a-service (PaaS) and software-as-a-service (SaaS) with additional components such as Site Factory for multisite management, digital asset management (DAM), CDP, personalisation, and Campaign Studio. VISIT WEBSITE
What's On
12 hours ago
- What's On
5 of the best restaurants in Dubai this week: June 9 to June 12
No plans? You do now… Outside is cancelled 'til further notice, but Dubai is in its glow-up era anyway. The temps are rising, but so is the lineup – which makes these 5 of the best restaurants in Dubai worth leaving the house for. Save this list. Three Cuts Steakhouse Set on the rooftop of Nakheel Mall, this low-key spot keeps things simple: quality meat, solid execution, and a laid-back setting. The business lunch takes the same approach – one starter, one main – with picks like beef carpaccio, mushroom risotto, and steak frites. It's Dhs135 well spent, and makes for an easy midday break. Offer: Dhs135 for one starter and one main Timings: Monday to Friday, 12pm to 4pm Location: Rooftop, Nakheel Mall, Palm Jumeirah Contact: (0)4 395 6000. @threecutsdxb Kokoro Known for bringing a new twist to sushi, Kokoro has built a loyal following with its handroll bar and creative menus. Now, they're serving 'The Greatest Hits Vol.1,' a limited-edition set menu featuring fan favourites selected through their Instagram Broadcast Channel – ten courses of sushi classics and standout bites. Offer: Dhs490 per person for the 10-course set menu Timings: Limited availability daily Location: Al Serkal Avenue – 17th St – Al Quoz – Al Quoz Industrial Area 1 Contact: @ Bab El Bahr Bab El Bahr brings Lebanon's coastal seafood tradition to Downtown Dubai with a unique market-style dining concept – pick your fish and let the chefs work their magic with a modern Mediterranean twist. The space has been beautifully renovated, offering a relaxed yet stylish setting perfect for any time of day. Offer: Seafood market-style, à la carte Timings: Daily, 11am to 1am Location: Boulevard 29, Mohamed Bin Rashid Blvd, Downtown Dubai Contact: (0)4 456 2881. @ Leen's A spot that strikes the balance between relaxed and refined, Leen's at Emirates Towers offers a three-course business lunch packed with global flavours. For Dhs115, you get to choose a starter, main, and dessert – think Chicken Gyoza, Beef Tagliata Salad, and Coconut Matcha Cheesecake. Ideal for a client catch-up or a chilled-out midday break. Offer: Dhs115 per person for a three-course set menu Timings: Daily, 12pm to 3pm Location: Leen's, Emirates Towers, DIFC, Dubai Contact: (0)4 388 0553 @leens_ae Netsu by Ross Shonhan Netsu introduces Wagyu Omakase – a seven-course journey through premium Australian and Japanese Wagyu cuts, focusing on lesser-known parts like chuck rib and rump cap. Designed for sharing (3-4 guests), the meal is prepared tableside, high on technique and sustainability. Offer: Wagyu Omakase, Dhs1,800 for 3-4 guests Timings: Available daily Location: Netsu by Ross Shonhan, Mandarin Oriental Jumeira Contact: (0)4 777 2232. @netsudubai Images: Supplied/Instagram > Sign up for FREE to get exclusive updates that you are interested in
