GomSpace (Provider of Nanosatellites) Announces its Quarterly Results for the First Quarter 2020

STOCKHOLM, April 23, 2020 /PRNewswire/ -- GomSpace Group AB (the "Company") announces its interim report for the first quarter of 2020. The report is available on the Company's homepage ( The following is taken from the quarterly report:First quarter summary 1 January - 31 March 2020 (2019)

Order intake increased to T.SEK 18,448 (14,788)

Net revenues increased to T.SEK 40,455 (29,877)

Gross margin increased to 24% (1%)

Operating profit (loss) improved to a negative T.SEK 8,478 (a negative 27,630)

Earnings per share were a negative SEK 0.14 (a negative 0.58)


GomSpace leads development of a teaming agreement to demonstrate game-changing communications technology in space with the University of Arizona, and American FreeFall Aerospace and Rincon ResearchA A A A A A A A A A A 

"The first quarter of 2020 shows the positive outcome of the cost reduction program which we undertook in 2019. The revenue increased by 35% from SEK 29.9 million to SEK 40.5 million, the gross margin increased from 1% to 24% and the cash flow went from SEK -44.6 million to SEK -7.1 million. The order booking has increased by 25% from SEK 14.8 million to SEK 18.4 million which is slightly less than expected. However, we will maintain the outlook for the year.
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