Verified facts grounded in source documentation.
Earlier in the year, Ovzon received its largest contract to-date from the Swedish Defence Materiel Administration (FMV) for an integrated satcom solution.
Ovzon will provide satcom services to an undisclosed European NATO nation under a new contract announced on December 19 worth 240 million Swedish krona ($25.2 million).
Ovzon 3, Ovzon’s proprietary geostationary satellite, was successfully launched from Cape Canaveral, Florida in January 2024.
Ovzon 3 is the first commercial geostationary spacecraft to be deployed by a privately funded Swedish company.
Ovzon plans to launch the Ovzon 3 satellite as soon as December 2023.
Ovzon expected 2023 revenues to be similar to the 357 million Swedish krona recorded for 2022 but is now projecting 250 million Swedish krona for 2023 amid delays in finalizing new orders.
Ovzon received a new order for Ovzon SATCOM-as-a-Service from Swedish Space Corporation to be delivered during the second quarter of 2023.
Ovzon CEO Per Norén is confident in the market demand for Ovzon 3 and cites increasing demand from current and new customers for the geostationary satellite.
Ovzon recorded an operating loss of 9 million Swedish krona for the fourth quarter of 2022, an improvement from a 29 million Swedish krona operating loss in the same quarter of 2021.
Ovzon plans to launch Ovzon 3 to provide near-peer capabilities intended to enhance mission success in contested environments.
Ovzon reported an operating loss of 8.8 million Swedish Krona for the three months to the end of June, compared with an operating loss of 31 million Swedish Krona in 2021.
Ovzon 3 is intended to offer the highest bandwidth with the smallest terminals for mobile broadband by geostationary satellites.
Ovzon plans to launch the first Ovzon 3 satellite in 2021.
Ovzon reported an after-tax profit of 8.42 million Swedish krona on revenue of 109.3 million Swedish krona for the first six months of 2019.