Space42 is a UAE-based, AI-powered SpaceTech company established in 2024, integrating satellite communications, geospatial analytics, and artificial intelligence. It has two business units: Yahsat Space Services and Bayanat Smart Solutions. Space42 focuses on satellite operations, geospatial data processing, and AI-driven solutions, with major shareholders including G42, Mubadala, and IHC.
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Miguel Ángel García Primo, CEO of Hisdesat, highlighted that the memorandum with Space42 represents a significant step in Hisdesat's growth in the United Arab Emirates and the Middle East region.
Space42 in the UAE announced the global launch of its commercial satellite communication service provided by the Thuraya-4 satellite.
Space42 and Autonomous A2Z have established a joint venture to commercialize Level-4 autonomous driving technologies in the UAE.
Space42 has announced the global availability of its next-generation mobile communications satellite, Thuraya-4 (T4-NGS).
Space42 has contracted future revenues of $6.7 billion.
Revenue for Space42 dropped 15 percent to $363 million for the nine months to September 30, 2025.
Space42's revenue for its space services unit increased by 11 percent in the third quarter compared to Q2.
Group 42 Holding owns 41.58 percent of Space42.
Space42's stock is down nearly 10 percent in the year to date.
Space42 closed with $755 million in cash and short-term deposits.
Space42 secured a $696 million Export Credit Agency-backed financing facility for the Al Yah 4 and Al Yah 5 satellite programme.
Space42's stock was trading 1 percent lower at AED1.78 on the Abu Dhabi Securities Exchange on Thursday afternoon.
Mubadala Investment Company owns 28.97 percent of Space42.
Space42 launched the Thuraya-4 satellite in July 2025, which can deliver 'jam-proof connectivity' to military and civilian users.
In October 2025, Space42 received a $300 million advance from the UAE government as part of a $5 billion, 17-year contract.
Space42's net profit fell 50 percent year on year to $56 million in the first nine months of 2025.
Thuraya-4 entering commercial operation positions Space42 for growth aligned with market demand.
The satellite bus of Thuraya-4 utilizes a software-defined architecture compatible with Space42’s IoT and direct-to-device (D2D) connectivity services.
Space42 aims for Thuraya-4 to boost the company’s space services revenue in mobile satellite services for defense and security, as well as commercial applications.
Airbus manufactured Thuraya-4-NGS for Yahsat based on the all-electric Airbus Eurostar Neo platform.