Satellite IoT startup Astrocast debuts on Euronext, says cash sufficient through 2022, forecasts $164M in 2025 revenue

by Peter B. de Selding

DEGAGNAC, France — Startup satellite-IoT hardware and service provider Astrocast SA went public on the Euronext Growth Market Oslo exchange, telling investors it will become EBITDA-positive in 2024 and reach a 30% EBITDA margin in 2025 on $164 million in revenue.

It's forecasting a 25% share of the global satellite-IoT market for that year.

Switzerland-based Astrocast raised $51.5 million in a private placement that preceded the Aug. 25 debut on the Euronext. The company told investors that this funding is . . .

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