GomSpace Group (GOMX) Q3 2025 TU earnings summary

Financial performance and guidance

• Q3 2025 revenue rose 94% year-on-year to 111.7 MSEK, with year-to-date revenue up 71% to 296.4 MSEK, and all business units achieving double-digit growth.

• Adjusted EBITDA for Q3 was 15.0 MSEK, with year-to-date EBITDA at 35.4 MSEK, a significant improvement from negative SEK 17 million last year.

• Free cash flow was negative at -38.0 MSEK in Q3 due to delayed or deferred customer payments, but recovery is expected in Q4; cash balance remains strong at 255 MSEK.

• EBIT turned positive year-to-date at 3.45 MSEK, though net profit remains negative due to non-cash warrant liability valuation.

• Order backlog at the end of Q3 stands at 410.7 MSEK, supporting future revenue growth.

Updated outlook and strategic developments

• Full-year 2025 revenue guidance raised to 420–450 MSEK (from 320–380 MSEK), with EBITDA margin now expected at 7–13%.

• Positive free cash flow is anticipated for the full year, with operational cash flow recovery expected in Q4.

• Recent capital expansion and credit facility access provided EUR 24 million in additional funding.

• Double-digit growth achieved across all business units year-to-date, though North America outlook for 2025 has been revised down.

• Strong order backlog and financial position support optimism for continued momentum into 2026.

Operational highlights and business units

• Strong execution on order backlog and healthy margins are driving profitability.

• Product business, including satellite platform kits, is a key growth area, offering tested, integrated solutions and enabling internal scaling.

• North America saw a SEK 15 million order, doubling recent intake, with expectations for further growth.

• Order intake in programs was lower in Q3, but a solid backlog and upcoming orders are expected to support future growth.

• Organizational expansion and higher operational activity are supporting the upgraded outlook.