Small satellite builder GomSpace: Free cash flow is our North Star; EBIT can wait; we cancelled unprofitable contracts

by Peter B. de Selding

LA PLATA, Maryland — Small satellite hardware manufacturer GomSpace Chief Executive Carsten Drachmann said the company’s goal has the virtue of clarity:

“Our focus is to start making money. The satcom industry is definitely growing. Everybody believes that. There’s a lot of stuff coming. There are a lot of companies in the New Space industry, with smaller satellites, but very few are making money,” Drachmann said at a Feb. 22 investor briefing.

He repeated the message Feb. 27 in disclosing GomSpace’s 2023 financial results.

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