LA PLATA, Maryland — Small satellite builder GomSpace of Denmark and Sweden reported a 36% drop in revenue for the three months ending March 31 compared to a year ago and a negative free cash flow but said its goal of becoming free-cash-flow positive later this year.
GomSpace’s chief executive, Carsten Drachmann, told investors in February that profitability was the top priority. The company removed more than 50% of its backlog, saying they did not meet profitability goals.
That decision had the knock-on effect . . .
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