GomSpace – Enters the microsatellites market with a new contract

With an order valued at EUR 2,9m from its current partner in nanosatellite Unseenlabs, GomSpace commenced development into the microsatellites part of the satellite market. GomSpace's previous cube satellites typically ranged from 5-30kg, the new microsatellites under development will weigh up to 150 kg.

The order is an initial contract for design and development. This follows that Unseenlabs in late April announced that they would Launch a new satellite constellation in 2026 that should be able to cover land and Space besides the maritime activities that they survey with the current fleet of nanosatellites. In the announcement from Unseenlabs there was no mention of the size of the investment, the number of satellites in the constellation, or whether this has already been financed.

When this news was announced, there were some questions among investors about GomSpace’s part of this new project, because of the mention of microsatellites, a segment GomSpace hadn’t been operating in before.

GomSpace will report Q1 2024 results on May 17th. The same day at 11:30, GomSpace’s CEO Carsten Drachmann will present the results and recent news flow in a virtual live event followed by a Q&A session.

Besides the financial results and the progress on the transformation process, investors’ attention and questions could be focused on the news that broke today, and recent updates relating to the maritime monitoring program in Indonesia.  Additionally, is there further potential in the microsatellite space outside of Unseenlabs, and is there any increased technology risk associated with entering a new domain? 

Sign up and ask questions in advance here:

https://www.inderes.dk/videos/gomspace-presentation-of-q1-2024-interim-report

Disclaimer: HC Andersen Capital receives payment from GomSpace for a Digital IR/Corporate Visibility subscription agreement. /Michael Friis 15:30, 13-05-2024.