Spacecom Reports 78.5% Net Profit Surge in Q2 2026
Despite $2.2 million in exchange rate expenses, Spacecom, operator of the Amos satellite fleet, recorded its fifth consecutive quarter of net profit. Revenue grew by 15%, with an order backlog reaching $66 million.
Spacecom Ltd. (TASE: SCC), a provider of satellite communication services and operator of the "Amos" satellite fleet, published its financial reports for the second quarter of 2026 on Tuesday.
Company revenues grew by approximately 15% compared to the same quarter last year, excluding revenues from the Amos 3 satellite, continuing the consistent growth trend and diversification of revenue sources. This growth was supported by a 3.5% increase in revenues from the Amos 17 satellite and a 26.9% increase from the Amos 4 satellite. Simultaneously, the company expanded its operations by selling capacity on third-party satellites in GEO and LEO orbits, contributing approximately 10% of total quarterly revenue.
The completion of the debt settlement led to a significant decrease in interest expenses. Consequently, net financing expenses fell by approximately 25%, from $5.8 million to $4.3 million, despite $2.2 million in exchange rate difference expenses caused by the strengthening of the shekel.
Key Financial Results for Q2 2026:
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Revenue: Approximately $17.2 million (a 15% increase, excluding Amos 3).
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Amos 17 Revenue: Approximately $10.3 million (up 3.5%).
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Amos 4 Revenue: Approximately $4.4 million (up 26.9%).
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Net Profit: Approximately $1.3 million (approx. 3.8 million NIS), an increase of 78.5% compared to the same quarter last year.
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Order Backlog: Approximately $66 million ($39 million attributed to Amos 17).
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Cash Balances: $32.1 million as of June 30, 2026.
Operating cash flow for the last four quarters totaled approximately $52 million, 25% ($11 million) higher than the forecast presented during the bond issuance.
Since the beginning of the year, Spacecom has advanced significant business initiatives, including extending engagements with the Israeli government ($8.4 million), signing a 34-month agreement with yes ($10.5 million), and executing satellite communication projects in Africa using third-party capacity and OneWeb satellites.
Dan Zajicek, CEO of Spacecom, stated: "The second quarter results reflect a continued growth trend, even following the end of Amos 3 commercial operations. Our strategy to diversify revenue sources and establish the company as a multi-orbit satellite solutions provider is yielding success, as evidenced by our profitability and operating cash flow exceeding forecasts. These steps establish a foundation for continued improvement in our business and financial performance."
