Nanosatellite company Gomspace has reported a near doubling of revenue in the third quarter compared to the same period last year, marking a turnaround to operating profit.

Revenue surged by 93.6 percent to SEK 111.7 million (57.7).

EBITDA came in at SEK 11.1 million (-4.3), with an EBITDA margin of 9.9 percent.

Adjusted EBITDA reached SEK 15.0 million (-1.3), corresponding to an adjusted EBITDA margin of 13.4 percent.

Operating profit totaled SEK 3.3 million (-13.3), reflecting an operating margin of 3.0 percent.

Profit after tax amounted to SEK 12.7 million (-22.8), or SEK 0.08 per share (-0.16).

Order intake landed at SEK 58.5 million (68.7), a decrease of 14.8 percent compared to the previous year.

Free cash flow was negative at SEK -38.0 million (12.0).

"Our free cash flow for the quarter was negative, driven by postponed milestone payments for work already performed. This was not expected, but we anticipate the situation will correct itself during the fourth quarter," said CEO Carsten Drachmann, adding that the company maintains its full-year outlook for positive free cash flow.

Overall, Drachmann noted that the company's strategy is delivering results.

"The transformation we have led over the past 24 months is bearing fruit--financially, commercially, and operationally. As we now close the third quarter and look toward the end of 2025, we are focusing on securing milestone completions and payments, delivering on our commitments, and preparing Gomspace for the next phase of scalable, sustainable, and profitable growth," he said.

Gomspace reiterated its forecasts for 2025, which were raised in mid-October.

Gomspace, SEK million Q3-2025 Q3-2024 Change
Order intake 58.5 68.7 -14.8%
Net revenue 111.7 57.7 93.6%
EBITDA 11.1 -4.3
EBITDA margin 9.9%
Adjusted EBITDA 15.0 -1.3
Adjusted EBITDA margin 13.4%
Operating profit 3.3 -13.3
Operating margin 3.0%
Net profit 12.7 -22.8
Earnings per share, SEK 0.08 -0.16