Foresight satellites operational; positive for Smart Solutions revenue growth

研报英文原文证据摘录

Foresight satellites operational; positive for Smart Solutions revenue growth

MENA Technology

Space42 (SPACE42 UH)

EQUITY RESEARCH Quick Take

June 9, 2026

Foresight satellites operational; positive for Smart Price: AED1.63

Price Target: AED3.50 Solutions revenue growth

Rating: Overweight Takeaways

Key Statistics: Space42 has announced that its Foresight-3, Foresight-4, and Foresight-5

Symbol ADS: SPACE42 UH earth orbit satellites are now fully operational, see release, see Figure

52-Week Range 1.29 - 2.36 1. This means these assets will start delivering services this quarter, Market Cap 7,761.9

ADV (3 mo) 5,783,067 as the company had previously announced at its 1Q26 earnings call

Free Float (%) 21.000 with data acquisition mandates already in place and the company has

Shares Out (M) 4,761.9 been under negotiations for two mandates. These satellites support the

company’s pillar 1 in its strategy, which provides geospatial data for

Research Analysts: commercial and government customers and revenue in its Smart solutions

Scott Darling segment. Space42 has previously stated that it expects the revenue profile

+971 52 699 0785 to rebound and see a return to growth in Smart Solutions and this scott.darling@cantor.com

announcement supports that view. With the company continuing to deliver

One-Year Price History on its strategy, with a goal to double its revenue by FY30 to c.US$1.3bn

(from US$629m FY24 base year, see Figure 2) as well as sustain its c.40%

2.4

2.2 EBITDA margin, we reiterate our positive view, see our initiation report for

1.8 more details on the company.

1.6

1.4 Unique four-pillar strategy on track. The company has a unique four-pillar

06/25 09/25 12/25 03/26 06/26 strategy to combine secure, reliable and mobile satellite communications