Space42 Delivers Outstanding 9M 2026 Results

• Revenues grow by 11% and normalized EBITDA surges by 30%
• Smart Solutions revenue rises by 16%, marking second consecutive quarter of profitable growth
• Space Services delivers its strongest 9-month performance

ABU DHABI, United Arab Emirates, Nov 12 (Bernama-GLOBE NEWSWIRE) -- Space42, the UAE-based AI-powered SpaceTech company with global reach, today announced its consolidated financial results for the first nine months of 2026. The company is listed on the Abu Dhabi Securities Exchange under symbol SPACE42 (ISIN: AEE01122B228).

Space42 delivered an outstanding financial performance for the 9-month period ended 30 September 2026, delivering double digit revenue growth and a significant increase in profitability whilst continuing to execute across its four core strategic pillars.

The Group reported revenues of USD 404 million, an increase of 11% year-on-year, with both businesses, Space Services and Smart Solutions, growing strongly as they continue to deliver scalable, dual-use applications.

Space Services delivered a record performance, growing revenue by 11% to USD 340 million, driven by a robust government business including the USD 700 million, 15-year capacity services contract that commenced on July 1, 2025, following the successful launch of the Thuraya-4 satellite. The business remains on course to deliver its strongest ever annual performance in 2026.

Smart Solutions increased revenue by 16% year-on-year, driven by rising government demand for geospatial intelligence and situational awareness, reinforced by sovereign requirements.

The Group reported normalized EBITDA of USD 194 million, an increase of 30% year-on-year, generating a superior margin of 48%, reflecting the turnaround within Smart Solutions and its return to profitable growth as its strategic transformation gathers pace.

Space42 continued to maintain a strong balance sheet, closing the period with an enhanced cash position of over USD 1.3 billion and a backlog of USD 6.2 billion, providing a firm foundation upon which to deliver its strategic objectives.

During the period, Space42 successfully progressed its share buyback program of up to 2.5% of the Company's issued share capital, with approximately 37% now completed. The program reflects the Company’s confidence in its long-term future and its belief that the current share price undervalues the intrinsic value of the business.

Karim Michel Sabbagh, Managing Director of Space42, commented:

"Space42 has delivered another outstanding performance, with both business units delivering double-digit revenue growth during the nine-month period, underpinned by a robust government business, increased demand for Earth Observation (EO) and geospatial analytics and continued strategic execution.

Space Services delivered a record performance whilst Smart Solutions continued to advance its transformation towards programmatic, higher-value dual-use engagements focused on its core capabilities of EO and geospatial analytics.

During the period Space42 continued to focus on strategic execution, culminating in the binding agreement with Viasat to co-found Equatys, thereby creating the first shared space and ground infrastructure platform for global Direct-to-Device and advanced MSS connectivity."

Delivering Across Four Strategic Pillars and Sectorial Priority

Premium geospatial data – Global

• Foresight -3, -4, and -5 satellites entered service during the period with their imagery now commercialized across multiple dual-use applications, further reinforcing Smart Solutions programmatic capabilities
• Mira Aerospace, in collaboration with Telespazio Ibérica, began wildfire monitoring in Spain using the ApusNeo18 HAPS, demonstrating real-time monitoring capabilities and advancing emergency response applications

GeoInt AI-enabled platform and services – Global

• Continued enhancement of the GIQ platform through strengthened security, multi-source data integration and further development of its weather application, alongside continued progress on the GIX platform

Non-Terrestrial Network services – Global

• Continued ramp-up of Thuraya-4 operations, expanding services across South Africa whilst rolling out third-party Thuraya-4 compatible smart devices, demonstrating the potential of the satellite network to deliver voice and SMS connectivity across a broader range of devices
• Space42 and Viasat signed binding agreement to co-found Equatys, creating the first shared space and ground infrastructure platform for global direct-to-device and advanced MSS connectivity
• Terrestar Solutions joined with Equatys, expanding shared satellite infrastructure for global direct-to-device and advanced MSS connectivity while preserving national sovereignty

Secure connectivity - Regional

• Continued progress on the Al Yah 4 and Al Yah 5 satellite program, which remains on budget, underpinned by a USD 5.1 billion, 17-year government contract
• Further advanced LEO/MEO broadband dual-use capabilities under a multi-orbit strategy designed to complement Al Yah 4 and Al Yah 5, integrating low-latency NGSO connectivity to enhance secure communications

Autonomous mobility as sectorial priority - Regional

• Signed first commercial agreement with Autonomous A2Z, South Korea’s leading autonomous driving company, to advance the deployment of Level-4 autonomous mobility solutions in the UAE, combining Space42 AI, geospatial and connectivity capabilities with autonomous driving technology

Financial Highlights

Metric	Result
Revenue	USD 404 million (11% YoY)
Normalized EBITDA	USD 194 million, (30% YoY) with 48% margin
Net Profit	USD 49 million, (31% YoY) with 12% margin
Cash CapEx	USD 134 million
Cash / Short-Term Deposits	USD 1.3 billion
Negative Net Debt	USD 747 million
Net Leverage Ratio	-2.8x
Contracted Future Revenues	USD 6.2 billion

The complete financial disclosures are available in the Investor Relations section of Space42's website at www.space42.ai/en/investor-relations.

Note

Normalized EBITDA represents earnings from continuing operations before interest, tax, depreciation, amortization, share of results of equity-accounted investments, adjusted for material non-recurring items to reflect comparable, like-for-like underlying business performance.

About Space42

Space42 (ADX: SPACE42) is a UAE-based, AI-powered SpaceTech company with global reach, that integrates satellite communications and geospatial intelligence to enlighten the Earth from space. It operates through two business units. Space Services runs a fleet of geostationary satellites, including the Thuraya mobile network, delivering secure connectivity across land, sea, and air in more than 120 countries. Smart Solutions operates a synthetic aperture radar constellation in low Earth orbit, covering 90% of the world’s population, and uses AI to turn that imagery into actionable insight. Space42 serves governments and enterprises across defense and security, energy, environmental conservation, and autonomous mobility. Major shareholders include G42, Mubadala and
International Holding Company (IHC).

For more information, visit: www.space42.ai; follow us on LinkedIn: Space42

For investor inquiries, please contact: ir@space42.ai

Legal Notice and Cautionary Statement Regarding Forward-Looking Information

This announcement may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, words such as "expect", "will", "looking ahead" and any other words and terms of similar meaning. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments and speak only as of the date of this announcement. Forward-looking statements are based on assumptions of future events and information currently available to the Company which may not prove to be accurate, and the Company does not accept any responsibility for the accuracy or fairness thereof and expressly disclaims any obligation to update any such forward-looking statement. No representation or warranty is made that any forward-looking statement will come to pass. You are therefore cautioned not to place any undue reliance on forward-looking statements.

Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction.


SOURCE: Space42 PLC

Energy Security Push Could Lower Global Warming – Wood Mackenzie

KUALA LUMPUR, Nov 11 (Bernama) -- Countries pursuing energy security above all else could produce lower global warming outcomes than expected, not through climate policy but as a by-product of faster electrification driven by efforts to cut energy imports, according to Wood Mackenzie.

The analytics firm’s Energy Transition Outlook 2026-27 found that nations are increasingly choosing energy security and economic growth over climate goals, as geopolitical risk and economic self-interest move to the centre of energy decision-making.

The report analyses five divergent pathways, introducing two new scenarios, Energy Security (2.5°C) and Growth First (3°C), alongside Country Pledges (2°C) and Net Zero 2050 (1.5°C), all modelled around the Base Case (2.6°C), the firm’s assessment of the most likely outcome.

Wood Mackenzie Vice President, Head of Scenarios and Technologies, Prakash Sharma said nations are making fundamentally different choices about how to power their economies, and those choices are producing outcomes that confound conventional wisdom.

He said in a statement that countries cannot simultaneously minimise costs, maximise domestic manufacturing, eliminate supply-chain dependencies, accelerate decarbonisation and limit public spending, adding that the current situation is a time for courage and countries must accept trade-offs between competing objectives.

The report’s Energy Security scenario models a world in which the 2026 Strait of Hormuz crisis, which halted 15 to 20 per cent of global oil and liquefied natural gas (LNG) flows and pushed Brent crude above US$100 per barrel, becomes a structural turning point. (US$1 = RM4.05)

In this scenario, major economies would accelerate their shift away from fossil fuel imports, deploying electrification, renewables and nuclear power to reduce exposure to supply chain disruption, resulting in warming of 2.5°C by 2100, slightly below the Base Case.

The report also highlighted a cumulative investment opportunity of US$147 trillion to US$189 trillion through 2060 for energy and resources companies, while global liquids demand is projected to peak at about 109 million barrels per day in 2031 under the Base Case.

Under the Base Case, solar, wind and battery capacity are set to surge 60 per cent by 2030 and six times by 2060, while global power demand is on track to double by 2060, driven by electrification, industrial growth and rapidly expanding data centre capacity.

The outlook covers 105 energy markets to 2060, examining demand, supply, investment, emissions and emerging technologies.

-- BERNAMA

DENODO, AWS SEAL MULTI-YEAR DEAL ON AI DATA ACCESS

KUALA LUMPUR, Nov 11 (Bernama) -- Denodo, a data management company, has signed a multi-year strategic collaboration agreement with Amazon Web Services (AWS) to help companies build and scale agentic artificial intelligence (AI), meaning AI systems that can make decisions and take actions on their own, using real-time business data.

The agreement builds on the companies’ existing relationship and includes joint workshops, co-marketing, co-selling and commercial incentives, as well as solutions with systems integrators for uses such as fraud prevention in banking, claims processing in insurance and predictive maintenance in manufacturing, Denodo said in a statement.

“Together with AWS, we give joint customers a unified AI data layer so that agents can access live, governed data and active context across every enterprise source, without moving or replicating it.

“This expanded collaboration helps our customers move from pilot to production in days rather than months and scale with confidence,” said Denodo Chief Executive Officer, Ángel Viña in a statement.

Meanwhile, AWS Director of Americas Technology Partners, Allison Johnson said the collaboration helps customers extend the value of their AWS AI investments to all their data, wherever it is stored.

Denodo’s software allows AWS AI services to use company data held in on-premises systems, other cloud services and software as a service (SaaS) applications without first copying or moving it.

Denodo is available as a fully managed cloud service or for deployment in customers’ own AWS accounts and can be bought through AWS Marketplace.

-- BERNAMA

HORIZON QUANTUM Q3 PROFIT DRIVEN BY NON-CASH WARRANT GAIN

 

KUALA LUMPUR, Nov 11 (Bernama) -- Horizon Quantum Holdings Ltd (Horizon Quantum), a quantum computing software company, posted a net profit of US$33.4 million for the third quarter ended Sept 30, 2026 (Q3 2026), driven by a non-cash accounting gain, while its operating loss more than doubled. (US$1 = RM4.05)

The result included a US$43.1 million non-cash gain from revaluing warrant-related liabilities after the company’s share price fell during the quarter, which did not affect its cash balance. It recorded a net loss of US$5.2 million a year earlier.

Horizon Quantum Chief Executive Officer and Founder, Dr Joe Fitzsimons said the company completed the integration of its Triple Alpha software with Oxford Quantum Circuits’ 32-qubit processor during the quarter and had signed a non-binding letter of intent to acquire Singapore-based Entropica Labs Pte Ltd.

“We look forward to exploring this opportunity further,” he said in a statement.

In the quarter, Horizon Quantum’s earnings per share were US$0.61, compared with a loss of US$0.13 per share a year earlier.

The operating loss widened to US$10.5 million from US$4.9 million, as research and development expenses rose 122 per cent to US$4.5 million and general and administrative expenses rose 127 per cent to US$5.2 million, mainly because of higher headcount and the costs of becoming a public company.

Its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) loss widened to US$6.3 million from US$3.0 million, while cash and cash equivalents fell by US$10.5 million during the quarter to US$102.8 million.

The proposed Entropica Labs deal, valued at about US$27 million in Horizon Quantum shares, is subject to due diligence and definitive agreements. Entropica specialises in quantum error correction.

-- BERNAMA

Reality Partners with Merkl to Support rToken Dividend Distribution Across DeFi

VICTORIA, Seychelles, Nov 10 (Bernama-GLOBE NEWSWIRE) -- Reality, the tokenization platform bringing publicly listed equities onchain and part of the Bitget ecosystem, has partnered with Merkl to identify eligible rToken holders whose tokens are deployed across supported DeFi protocols. This will enable them to keep receiving dividends in stablecoin, even when their tokens are put to work in DeFi instead of sitting in a wallet.

rTokens provide tokenized exposure to publicly listed stocks and ETFs, including eligible economic benefits such as dividends. When these tokens are deposited into lending markets, liquidity pools or staking contracts, the smart contract may appear as the holder onchain instead of the individual user. This makes it more difficult to identify who should receive the associated dividend distributions.

Merkl’s reward forwarder technology addresses this by tracing token positions through supported smart contracts to identify the underlying holders and allocate distributions according to the applicable rules. The system can account for multiple layers of DeFi contracts and protocol-specific fees. Users and developers can check if individual contracts are supported through the Merkl Studio Forwarder Scan tool.

"The challenge with assets held in DeFi is knowing who sits behind each position," said Pablo Veyrat, CEO and Co-founder of Merkl. "Our forwarder technology traces ownership through nested smart contracts and tells Reality exactly who holds what, so dividends can reach the right people wherever their tokens are deployed."

"Tokenized equities should be useful beyond trading," said Gracy Chen, CEO of Bitget. "If someone puts their rTokens to work in DeFi, they should still be able to receive the dividends they’re eligible for. Working with Merkl helps us address that challenge and makes tokenized equities more practical for everyday use."

Under the partnership, Reality continues to manage rToken issuance and dividend entitlements, while Merkl provides the reward forwarding infrastructure for identifying eligible holders across supported DeFi positions. Reality’s rToken model distributes eligible cash dividends separately from the token’s price, with net cash dividends generally settled in USDT. Distribution through DeFi remains subject to the supported contracts and applicable distribution rules.

The partnership builds on the growing adoption of rTokens within Bitget’s UEX ecosystem. According to a DeFiLlama report, rToken trading volume reached $1.16 billion in cumulative volume between June and July, while the number of users trading both crypto and rTokens grew 23.54% month over month in July 2026, pointing to rising demand for tokenized equities as part of broader, cross-asset strategies. The integration with Merkl supports the next stage of development, helping extend the use of tokenized equities beyond exchange-based trading into DeFi.

About Reality

Reality is a regulated real-world asset issuance platform built for global markets, and is proudly part of the Bitget ecosystem. Working with licensed brokers across major exchanges, including Nasdaq and the NYSE, we purchase and hold the underlying assets in custody, then issue the corresponding rights on-chain. This connects traditional capital markets with on-chain infrastructure, opening institutional-grade access to real-world assets for users worldwide.

About Merkl

Merkl is the leading onchain money streaming platform. Stablecoin issuers, fintechs, neobanks and tokenized funds use Merkl to calculate and send yield, dividends and payouts. Merkl tracks ownership across lending markets, liquidity pools and other nested smart contracts, so every payment reaches the beneficial owner behind each position. Since launching in July 2023, Merkl has distributed over $1.8B in tokens across 60+ chains for more than 1,000 companies, including PayPal, Coinbase, Robinhood and Morpho.

For media inquiries, please contact: media@bitget.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cc2e8771-09cc-41d7-b3c3-d46f4533278f

SOURCE: Bitget Limited

DISCLAIMER: BERNAMA MREM are not accountable for any causes of website defacement, misuse, or illegal activities connected to cryptocurrency, blockchain, tokenisation, or bitcoin. This material should not be considered as guidance or an opinion, as it does not constitute financial or investment advice. Use this information at your own risk; we are not liable for any losses or damages caused by the republication of this article.

--BERNAMA

YYFORCE HUMANOID ROBOT TRAINING FEATURED ON SINGAPORE TV

KUALA LUMPUR, Nov 10 (Bernama) -- YYForce Inc (YYForce) announced that its humanoid robotics training initiatives were recently featured in a dedicated television broadcast produced and aired by Mediacorp 8world’s technology and current affairs programme Meeting AI on Nov 6.

Hosted by veteran presenter Zhang Haijie, the television feature provided viewers with an in-depth, hands-on look at emerging humanoid robotics technologies and their practical commercial training workflows.

In the episode, presenter Zhang Haijie used a virtual reality headset and five motion sensors on his head, hands and feet to control a Unitree G1 humanoid robot in real time, with the system recording his movements to build training data for artificial intelligence (AI) models, the company said in a statement.

“Our vision is not about replacing people with robots. We are building toward an operating model where people, AI, humanoid robots and specialised service robots can work together, with each performing the functions where they can create the greatest value,” said YYForce Chief Executive Officer, Mike Fu.

The programme showed that teaching the robot to identify, pick up and move a cup on its own took 40 human demonstrations, followed by about eight hours of AI model training.

YYForce said it is training humanoid robots for tasks such as cleaning hotel rooms and restrooms and has set up robotics demonstration and training facilities in Singapore.

-- BERNAMA

HOLOGEN, SYSMEX FORM AI VENTURE TO ANALYSE BLOOD TEST DATA

KUALA LUMPUR, Nov 10 (Bernama) -- Hologen, a frontier artificial intelligence (AI) company, and Sysmex Corporation, a Japanese haematology company, have formed Saibogen, a joint venture that will use generative AI to draw more information from routine blood tests.

Saibogen will apply Hologen’s Large Medicine Models, AI models that learn the biology behind real-world healthcare data, to data from Sysmex haematology analysers, which run about three billion blood count tests a year.

“Every routine blood count measures tens of thousands of cells with remarkable precision, and much of that information goes unused,” said Saibogen chief executive officer (CEO), Leila Luheshi.

The joint venture aims to give researchers and clinicians new insights without requiring new instruments, reagents or samples, according to a statement.

“Blood is one of the richest sources of biological information we have. Our Large Medicine Models are built to learn that biology from real-world data,” said Hologen CEO, Roland Tegeder.

Meanwhile, Sysmex president, Iwane Matsui said the venture would combine Sysmex’s haematology expertise and global business platform with Hologen’s AI technologies to unlock new value from routine blood testing data.

Saibogen’s products will be delivered as software exclusively through Sysmex’s haematology analysers, with its first offerings for research use only.

-- BERNAMA