Smallsat builder GomSpace cuts work force after slow order intake, says Sky & Space Global payment arrived

by Peter B. de Selding

PARIS — Small-satellite builder GomSpace reported a sharp increase in revenue in 2018 but a much higher operating loss as its biggest customer, Sky and Space Global, missed payment deadlines and an affiliate, Aerial and Maritime Ltd., delayed an expected satellite order in the absence of funding.

The two events, and delays in other expected orders, had the effect of wrong-footing GomSpace in 2018. The company had made investments in a new production facility capable of producing 350 one- to 30-kilogram satellites per year and now finds itself dancing faster than . . .

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