GomSpace cleanroom. Photo: Michael Bo Rasmussen/Baghuset, GomSpace

European smallsat manufacturer GomSpace reported a record year of revenue in 2025, growing revenue by 72% compared to 2024. 

The company reported 442 million Swedish krona ($49 million) in revenue in 2025, on the higher range of its guidance. GomSpace is based in Denmark and listed on Nasdaq Stockholm. The company reported 2025 financials on Feb. 19. 

“2025 was our first year of significant profitable growth. We outperformed 2024 with an increase in revenue of 72% and delivered not only a strong EBITDA, but also a positive EBIT,” Carsten Drachmann, CEO of GomSpace said in a statement. “This is a solid result and well above market average for our type of business, where many of our peers still deliver negative results.”

GomSpace noted a key customer is delayed in payment due to delayed capital raise, more than 145 million Swedish krona ($16 million) behind. GomSpace said it has secured collateral and implemented a payment plan until the raise is completed. 

The company expects to continue revenue growth trajectory in 2026, projecting 30% revenue growth at the midpoint, supported by its backlog. The company’s order backlog increased by 13% during 2025, to 410 million Swedish krona ($45 million) during the year.

“Looking into 2026, the space industry is experiencing a significant increase in investment, both from private capital fueling company growth and from governments prioritizing space programs for security and sovereignty. With our strong results and solid balance sheet, we are well positioned to benefit from these tailwinds,” Drachmann added.