Smallsat builder GomSpace trims losses with cost-cutting program, forecasts 26% revenue growth in 2020

by Peter B. de Selding

PARIS — Small satellite builder GomSpace reported substantially improved financial results for the three months ending March 31, mainly as a result of a cost-cutting program put into place in 2019.

The company said that partly because of a reliance on contracts from the 22-nation European Space Agency (ESA), it is unlikely to see a major upset in business from the Covid-19 pandemic.

GomSpace Chief Executive Niels Buus said the company nonetheless expects the sluggishness in commercial orders to continue, meaning the company . . .

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