In H1 2025, Space42 delivered a resilient performance with normalised net profit of USD

53 million, in line with prior period and an increased margin, demonstrating strong operational optimization and strategic execution.

The Company closed the period with USD 816 million in cash and short-term deposits and a newly secured USD 0.7 billion ECA-backed funding facility, underpinned by contracted future revenues of USD 6.8 billion and substantial progress across each of its four strategic pillars.

Karim Sabbagh, Managing Director of Space42, commented: “H1 2025 demonstrates our commitment to operational excellence and capability building. The momentum across our platform shows that our dual-use capabilities deliver both commercial success and strategic value. With Thuraya-4 entering commercial operation and our programmatic approach taking hold, combined with sustained optimization, we're positioned for growth aligned with market demand.”

Space Services achieved 2% year-on-year revenue growth in Q2 2025, reaching USD 100 million, driven by double-digit expansion in the oil and gas segment. The business performed strongly across secure communications and mobile satellite services domains, firmly benefiting from the drive for secure and sovereign communications capabilities in the UAE. The company anticipates this drive to continue in the medium to long term.

Growth is set to accelerate in the second half of 2025 as the recently launched Thuraya-4 satellite starts commercial operations, offering several new mobile satellite services for defense and security as well as commercial applications. These capabilities are increasingly relevant in the context of recent regional events. Space Services also made significant progress in the direct-to-device future space system with key milestones to be announced in H2 2025.

Smart Solutions, whilst underperforming due to the timing of multi-year engagements it is firmly seeding, continued to build programmatic capabilities with new programs expected to come online in the second half of 2025.

Its primary focus is to manufacture and deploy the Foresight system, comprising seven latest-generation Earth observation SAR-based satellites whilst continuing to advance the development of its GIQ geospatial analytics platform. This is now deployed on the Microsoft Azure Marketplace to address a global market of growing requirements for dual-use geospatial information and insights. These capabilities received the Future Fit seal from the UAE Government under the umbrella of the UAE Space Agency, recognizing their significance to Space42 and to the UAE.

The company continued progress in direct-to-device (D2D) future space system, in partnership with Viasat, establishing a shared multi-orbit standard-based 5G NTN open architecture and a globally scalable platform. Key milestones planned to be announced in H2 2025