GomSpace Group (GOMX) Q1 2025 TU earnings summary

Financial performance and guidance

• Revenue increased 77% year-over-year in Q1, reaching 88.8–89 million SEK, the highest in recent years.

• Adjusted EBITDA improved to SEK 11.3 million from SEK -16.6 million, marking a return to profitability.

• Net profit was SEK 1.3 million, marking one of the first positive quarters in company history.

• Free cash flow turned positive at 4.7 MSEK, with a focus on maintaining this trend throughout the year.

• Guidance for 2025 is unchanged: revenue of SEK 320–380 million, adjusted EBITDA margin of -2% to +10%, and continued positive free cash flow.

Business unit and regional performance

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

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

• North America operations saw increased revenue and breakeven or slight EBITDA growth, 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.

Order intake and market outlook

• Q1 order intake was lower for programs but strong for products, with SEK 44 million in product orders.

• Order backlog increased to 325.6 MSEK, supporting predictable revenue in coming quarters.

• Management expects program order intake to recover in Q2 and Q3, supported by a robust pipeline.

• High double-digit growth expected in North America for 2025.

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