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Gomspace: New quality contract signed with SpaceAble - ABG

New contract signed, with ESG and growth purpose
Worth SEK 21m, with expected deliver between FY’21-23
Positive news, which illustrates high-margin orders

The new contract with SpaceAble is based on GomSpace delivering one 12u satellite, with SpaceAble’s payload being mounted onto it. The contract is worth SEK 21m, with the project beginning in 2021 while having an expected delivery date in 2023 and launch date set for early 2024. After the launch, GomSpace will maintained the operations for one year. We expect to see revenue streams in FY’21, 22 and 23, with an estimated 10%, 45% and 45% split. This equals estimated revenues of SEK 2.1m in FY’21 (~1% of ABGSCe FY’21 revenues), SEK 9.45m in FY’22 ( ~3% of ABGSCe FY’22 revenues) and SEK 9.45m in FY’23 (~2% of ABGSCe FY’22 revenues).

This is positive news for GomSpace, as it illustrates the sort of higher margin contracts (based on products), that we are expecting to see more of in the future. While the contract size of SEK 21m is decent, the key element here, is that it is yet another, highly esteemed counterpart which chose GomSpace for their projects, proving important industry “stamp of approval”. The project furthermore has a ESG friendly goal and supports the future growth of the “new space” industry.
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