Space42 has received approval from the Abu Dhabi Securities Exchange to repurchase up to 2.5 percent of its issued share capital, the company said on Friday, August 14, 2026, as it reported a 15 percent rise in first-half revenue.
The buyback was authorized by shareholders at Space42's General Assembly Meeting in April, and the company will finance the repurchases using its existing cash resources. Repurchases will take place through open-market transactions in line with ADX requirements and applicable capital-market regulations, with each completed transaction disclosed regularly on the ADX website.
Karim Michel Sabbagh, managing director of Space42, said the program "demonstrated confidence in the company's long-term future and reflected management's belief that its prevailing share price undervalued Space42's intrinsic value." He added that the repurchases "reinforced the company's commitment to delivering attractive shareholder returns in accordance with its Financial Framework."
Revenue and balance sheet strength
Space42's revenue climbed 15 percent to $260 million, equivalent to AED953 million, during the first half of 2026. That builds on a full-year 2025 revenue of $226 million, normalized EBITDA of $112 million, and normalized net profit of $53 million.
The company's cash position has strengthened over recent quarters. Cash and short-term deposits stood at $816 million at June 30, 2025, before rising to $1.024 billion by March 31, 2026. Contracted future revenue was $6.8 billion as of June 30, 2025, and $6.4 billion by March 31, 2026, when the company also reported negative net debt of $757 million.
For the first quarter of 2026 alone, Space42 posted revenue of $116 million, EBITDA of $52 million, and net profit of $5 million.
Satellite programs behind the growth
Much of Space42's expansion is tied to its satellite infrastructure. In June 2026, Foresight-3, Foresight-4, and Foresight-5 entered full operation, bringing the Foresight constellation to five synthetic aperture radar satellites. The system delivers all-weather imaging at 25-centimeter resolution, with satellites operating across complementary orbits that extend monitoring over regions containing more than 90 percent of the world's population.
Thuraya-4 is backed by a $700 million, 15-year government capacity-services agreement that began on July 1, 2025. Separately, the Al Yah 4 and Al Yah 5 program is supported by a $5.1 billion, 17-year government contract, with the two satellites scheduled for launch in 2027 and 2028. That agreement is expected to generate approximately $300 million in annual revenue starting in the fourth quarter of 2026.
From merger to ADX debut
Space42 traces its current structure to the merger of Bayanat and Yahsat, recommended by both boards in December 2023 and approved by shareholders on April 25, 2024. Based on the two companies' 2023 results, the combined group had revenue of AED2.8 billion and net income of AED639 million. The merger completed with Space42's ADX debut on October 1, 2024, under the ticker SPACE42, and the company appointed Q Market Makers as its liquidity provider on November 19, 2024.