GomSpace Group (GOMX) Q1 2025 TU earnings summary

Financial performance and guidance

• Revenue increased 77% year-over-year in Q1 2025, reaching 88.8 MSEK, the highest in recent years, with all business units contributing to growth.

• Adjusted EBITDA improved to 11.3 MSEK from -16.6 MSEK, marking a return to operational profitability.

• Net profit turned positive at 1.3 MSEK, one of the first positive quarters in company history.

• Free cash flow turned positive at 4.7 MSEK, compared to -12.1 MSEK a year earlier, with a focus on maintaining this trend.

• Order backlog at the end of Q1 2025 stood at 325.6 MSEK, supporting predictable revenue in coming quarters.

Business unit and regional performance

• Products Business Unit set a record with 44 MSEK in order intake and a backlog of 64 MSEK, delivering strong margins.

• Programs Business Unit led revenue with 49 MSEK and improved margins, providing predictability through long-term contracts.

• North America operations saw increased revenue and breakeven EBITDA, with a strategy focused on market share expansion.

• Asia-Pacific expansion advanced, with strategic engagement and contracts in Singapore and ongoing negotiations in Indonesia.

• Multi-year agreements and partnerships are being pursued to enhance predictability and growth.

Strategic and operational updates

• Guidance for 2025 remains unchanged: revenue of 320–340 MSEK, adjusted EBITDA margin between -1% and +11%, and continued positive free cash flow.

• Operational focus is on delivering the strong order backlog, building long-term customer relationships, and disciplined execution.

• Enhanced financial stability enables pursuit of larger government and defense contracts.

• Currency fluctuations (SEK/EUR) slightly reduced reported margins.

• Timely execution and new contracts in H2 2025 are key to capacity utilization.