EL7.AI
StocksMedium•6 November 2026•
4 min read

GomSpace Q3 orders jump 104%, raises 2026 minimum margin outlook

Key Facts

1Orders received rose 104% to SEK 119.688 million in the third quarter.
2Third-quarter revenue increased 17% to SEK 130.395 million.
3The EBITDA margin rose to 14% from 10%.
4The company narrowed its 2026 revenue forecast to SEK 540–600 million, from SEK 540–640 million.

GomSpace announced on November 5 that orders received rose 104% in the third quarter of 2026 to SEK 119.688 million, compared with SEK 58.538 million a year earlier, alongside revenue growth and improved operating profitability. The company said revenue increased 17% to SEK 130.395 million, versus SEK 111.697 million in the corresponding period. Earnings before interest, taxes, depreciation and amortization rose 68% to SEK 18.642 million, from SEK 11.107 million. The margin on this measure increased to 14% from 10%, while operating profit was SEK 8.592 million, compared with SEK 3.337 million. But net profit for the period was nearly unchanged at SEK 12.747 million, versus SEK 12.749 million a year earlier, and free cash flow remained negative.

The figures show gains in sales and operating profitability, without a comparable increase in quarterly net profit. In the first nine months of 2026, revenue increased 25% to SEK 369.765 million, from SEK 296.400 million in the same period a year earlier. Earnings before interest, taxes, depreciation and amortization for the nine months rose 64% to SEK 44.154 million, compared with SEK 26.850 million. Operating profit also rose to SEK 16.477 million from SEK 3.450 million, and earnings per share turned positive at SEK 0.24 after a loss of SEK 0.14. However, cumulative orders received in the first nine months increased just 1% to SEK 377.299 million, from SEK 373.726 million.

The company narrowed its 2026 financial-year revenue forecast to SEK 540–600 million, from SEK 540–640 million, and raised the lower end of its forecast for the EBITDA margin to 10% from 5%, while keeping the upper end at 12%. GomSpace maintained its forecast for negative free cash flow for the year. Management said the updated outlook was based on performance since the start of the year, the current order book and the expected timing of new orders. It added that the timing of orders received was the main factor behind the forecast adjustment. The chief executive said revenue was likely to come in at the lower end of the annual range, while the margin was expected to be near its upper end.

Free cash flow remains a pressure point in the performance picture, coming in at negative SEK 41.658 million in the third quarter, compared with negative SEK 37.974 million a year earlier. The company attributed the negative cash flow to investment in expanding the business and supporting future growth. It said reusing products and assets in other projects reduced outstanding receivables from a major customer by about 20% compared with the end of 2025. The company expects to reuse the remaining assets within 4–6 months. The measure is part of its monitoring of receivables related to the customer, while its expected annual free cash flow remains negative.

Results from previous periods provide context for the growth trajectory. In the second quarter of 2026, revenue rose 17% to SEK 112.622 million, while orders received fell 45% to SEK 140.625 million. In the first quarter, revenue increased 43% to SEK 116.986 million, and orders received rose 104% to SEK 116.986 million. On a trailing 12-month basis, GomSpace said revenue rose from SEK 257 million in the third quarter of 2024 to SEK 515 million in the third quarter of 2026, an annual growth rate of about 42% over two years. In 2025, revenue was SEK 442 million, with an EBITDA margin of 9% and negative free cash flow of SEK 94.8 million. The company describes itself as a global provider of small satellite solutions, with customers in more than 60 countries.

In its long-term targets, GomSpace aims for an EBITDA margin above 20% by 2030, linking that goal to economies of scale, increased standardization, industrial manufacturing and product innovation. The company said completing its funding requires additional capital. It also cited an estimate that the small satellite market could grow from $3.79 billion in 2024 to $9.58 billion in 2031, at a compound annual growth rate of 14.2%. These targets and estimates come alongside continued investment that management said keeps free cash flow negative. The company is scheduled to publish its full-year 2026 report on February 17, 2027, according to its announcement.