One of the largest orders it has ever received
Today, Ovzon announced that it had received a SATCOM-as-a-Service order from a European customer. The logo was undisclosed, though we believe that because it has broadened its customer base significantly in recent years, it could stem from an existing client that has decided to increase the purchased capacity. The 12m order will start in Q2 and comprises a value of USD 9.7m, which we note is one of the largest orders it has ever received outside the US DoD, only exceeded by the USD 9.8m order with the Italian National Fire Corporation (Dec 2021) and the SEK 135m order with the Swedish Space Corporation (Dec 2023). Given that Ovzon did not explicitly state that the service was Ovzon-3 related, we believe that the capacity relates to its leased capacity.
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