UNIBAPNasdaq StockholmElectronic ComponentsIFRS · SEK

Unibap Space Solutions

Unibap Space Solutions is a Swedish space technology company based in Uppsala that develops edge-computing hardware, software, and related services for satellites. Its solutions are used to process data onboard spacecraft for earth observation, surveillance, communications, and autonomous satellite operations, and the company operates through a parent company with U.S. subsidiaries.

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Revenue89.9m SEK
+79.5 %y/y
Operating profit (EBIT)3.4m SEK
+115.6 %y/y
EBIT margin3.8%
+47.8 ppy/y
Net income4.0m SEK
+116.4 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-100-50050100150m SEK2020: 13 m SEK20202021: 33 m SEK2021: EBIT -59 m SEK20212022: 33 m SEK2022: EBIT -59 m SEK20222023: 50 m SEK2023: EBIT -22 m SEK20232025: 90 m SEK2025: EBIT 3.4 m SEK2025TTM 2026: 105 m SEKTTM105
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Satellite computers40 %

Onboard computing hardware installed in satellites to process data in space.

Software platforms25 %

Software for onboard analytics, filtering, and autonomous satellite operations.

Services15 %

Engineering and mission-related services supporting customer deployments.

Earth observation and surveillance solutions20 %

Systems used to generate customer-specific data products from satellite payloads.

Customers

Unibap sells to organizations across the space industry, including defense and security users, civil agencies, satellite manufacturers, service providers, and commercial operators. Customers buy its onboard computing and software to reduce latency, create more tailored data products, and enable satellites to operate more autonomously.

Defense and security organizations

Buy onboard computing and analytics to support real-time surveillance and mission decision-making.

Commercial satellite operators

Use the platform to deliver customized data products and serve multiple end customers per satellite.

Satellite manufacturers

Integrate Unibap hardware and software into spacecraft during build and payload integration.

Civil and emergency-response users

Buy solutions for earth observation, monitoring, and rapid situational awareness.

Space service providers and agencies

Adopt the platform to improve mission flexibility and onboard autonomy.

Strategy

Unibap’s strategy centers on expanding the use of onboard edge computing in satellites so customers can process, filter, and distribute data faster and more efficiently. The company also emphasizes partnerships with satellite manufacturers, service providers, and space organizations to embed its platform into more missions and create recurring technical relevance across deployments.

Increase adoption of onboard edge computingMedium term

More processing in orbit improves latency, flexibility, and mission economics.

Deepen partnerships across the space value chainMedium term

Integration with manufacturers and service providers helps embed the platform into missions.

Broaden use cases beyond earth observationLong term

A wider application set can increase addressable demand and reduce dependence on one mission type.

Geography

The company is headquartered in Uppsala, Sweden, with a production facility in Ultuna and additional U.S. subsidiaries. Its business is international by nature, serving satellite manufacturers, service providers, and space organizations across multiple markets rather than a single domestic customer base.

Risks

The business depends on long sales cycles, mission qualification, and successful integration into complex satellite systems, which can delay revenue recognition and customer adoption. It is also exposed to space-industry execution risk, including launch delays, program cancellations, technology obsolescence, and customer concentration across a relatively specialized market.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Customer adoption and qualification risk1Program timing and launch delay risk2Technology obsolescence risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Customer adoption and qualification riskImpact: HighLikelihood: Low

    Space hardware must be tested and integrated before it can be deployed in missions.

    Exposure: Satellite manufacturers and mission operators

  2. Program timing and launch delay riskImpact: HighLikelihood: Low

    Revenue and deployment timing depend on customer mission schedules and launch windows.

    Exposure: Space missions and satellite constellations

  3. Customer concentration riskImpact: High

    A small number of mission wins can represent a meaningful share of activity in niche space markets.

    ExposureDefenseCommercialAgency customers
  4. Technology obsolescence riskImpact: MediumLikelihood: Low

    Edge-computing architectures in space evolve quickly as satellite payloads become more capable.

    Exposure: Hardware and software platform

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Accounting

Judgemental items
Revenue recognition for mission-based contracts

Hardware, software, and services may be delivered at different times and under different acceptance terms.

Impact: Can shift revenue between periods

Capitalized development and intangible impairment

The company relies on technology development, which requires judgment on capitalization and recoverability.

Impact: Can affect operating profit and asset values

Inventory valuation for specialized space hardware

Custom components may have limited alternative use if customer programs change.

Impact: Can lead to write-downs

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Last updated: 24/09/2026