GomSpace Group
GomSpace Group AB is a Swedish-listed space company that designs and supplies small-satellite systems, subsystems, and related services through operating subsidiaries in Denmark and other countries. Its business spans nanosatellite platforms, satellite components, and mission solutions for government, institutional, and commercial customers worldwide.
Fiscal year 2025 · change from previous year
Development 2024–2025
Business
Share of revenueStandardized satellite hardware, components, and fast-turnover product sales.
Customer-specific satellite programs, missions, and integration work.
Business development and delivery focused on the U.S. market and partners.
Engineering support, mission preparation, and related customer services.
Customers
GomSpace sells primarily to governments, public institutions, and commercial operators that need small-satellite capability for communications, earth observation, and maritime monitoring. The company also works with strategic partners and system integrators where sovereign or dual-use space infrastructure is being developed.
Buy satellite systems and missions for sovereign communications, resilience, and control of data.
Buy dual-use satellite capabilities for secure communications and situational awareness.
Buy nanosatellite platforms and components for constellation and mission deployment.
Buy small-satellite solutions for earth observation, science, and technology demonstration.
Buy or co-develop solutions through partnerships in markets such as Southeast Asia and North America.
Strategy
GomSpace is focused on scaling product-led growth, expanding high-volume satellite delivery, and winning end-to-end missions for defense and civil customers. The company is also prioritizing North America and Asia-Pacific while positioning itself to benefit from European space, security, and defense spending.
Standardized satellite products can improve repeatability and support larger order volumes.
Government demand for secure communications and resilience supports larger mission contracts.
The U.S. market offers large procurement pools and strategic partnerships.
Regional space programs in Singapore and Indonesia create demand for satellite infrastructure.
Geography
GomSpace is headquartered in Sweden, with core operations centered in Denmark and additional subsidiaries in Luxembourg, France, Singapore, and the United States. Its business is international, with emphasis on Europe, North America, and Asia-Pacific, where sovereign space programs and satellite infrastructure spending are important demand drivers.
Risks
GomSpace’s project-based model exposes it to delivery timing, execution, and margin risk, especially when larger missions depend on customer milestones and technical validation. The business is also sensitive to government procurement cycles, geopolitical shifts, and competition from other small-satellite suppliers, while its international footprint adds foreign-exchange and cross-border operating complexity.
- Project execution and delivery riskImpact: HighLikelihood: High
Revenue depends on timely completion of larger satellite projects and customer milestones.
Exposure: Project-based business model
- Margin volatility on complex contractsImpact: HighLikelihood: Medium
Technical issues, scope changes, or underestimation can reduce profitability on missions.
Exposure: Programs and end-to-end solutions
- Government and defense procurement dependenceImpact: MediumLikelihood: Low
A meaningful part of demand comes from public-sector budgets and sovereign programs.
Exposure - Geopolitical and trade disruptionImpact: MediumLikelihood: Low
Cross-border space business can be affected by sanctions, export rules, and trade tensions.
Exposure: North America and international markets
- Foreign exchange exposureImpact: LowLikelihood: Low
Operating across multiple currencies can create translation and transaction volatility.
Exposure
Accounting
Judgemental itemsTiming of delivery and milestones can materially affect when revenue is recorded.
Impact: Quarterly comparability and backlog conversion
Warrant programs create non-cash administrative expense over vesting periods.
Impact: Reported operating costs and equity
Multi-country operations create currency gains and losses in the income statement and equity.
Impact: Net profit and comprehensive income
Capitalization versus expensing can affect asset balances and future amortization.
Impact: EBITDA, EBIT, and balance sheet
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Last updated: 24/09/2026