Small satellite builder GomSpace: We’re on track for cash-flow positive in late 2024; US market a priority

by Peter B. de Selding

LA PLATA, Maryland — Small satellite builder GomSpace said it’s on track to become free-cash-flow positive by late 2024 and reported a 33% increase in revenue for the nine months ending Sept. 30.

The company said it had completed much of the cost-saving measures it implemented to get to profitability, including a 36% reduction in head count in the past year, to 132 as of Sept. 30.

Chief Executive Carsten Drachmann told investors that the policy of limiting any expansion to that needed to fulfill backlog would remain in place, but that “the observed potential . . .

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