LA PLATA, Maryland — Satellite broadband, narrowband and geospatial analytics company Space42 reported a 19% drop in revenue in 2024 but limited its adjusted EBITDA decline to 2.6% with staff reductions, other economy measures and one-time revenue events.
Abu Dhabi-based Space42 said the revenue drop was partly due to the April failure of the Thuraya 3 mobile communications satellite, which had already exceeded its scheduled design life. Space42 had said the failure would result in a $25 million reduction in revenue.
In a Feb. 27 . . .
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