Satlantis earnings grow alongside demand for Earth-observation satellites

WASHINGTON – Satlantis reported revenues of 47.8 million euros ($56.4 million) in 2025, with more than 50% of the Spanish company’s income derived from small-satellite sales and operations. Audited earnings before interest, taxes, depreciation and amortization were 14.4 million euros.

The results show remarkable evolution of a company focused primarily on developing and manufacturing high-resolution optical payloads. Last year, payloads accounted for 30 percent of Satlantis revenues.

Since payloads are the core of Earth-observation missions, “the platform should be conceived around the payload and not the other way around,” Juan Tomas Hernani, Satlantis co-founder and CEO, told SpaceNews by email. Satlantis acquires spacecraft from Kongsberg NanoAvionics, OHB Sweden, Creotech of Poland and other suppliers, before performing assembly, integration and testing near Bilbao.

“We have decided not to become vertically integrated, but rather to collaborate with various platform suppliers,” Hernani said. “Not doing our own platforms allows us to benefit from the innovations of other suppliers across the market, and focus our resources in becoming a category leader in payloads.”

FlexSats

To meet growing demand for Earth-observation technology, Satlantis has developed optical payloads designed to capture images quickly, even when satellites perform frequent maneuvers.

Satlantis also is expanding its staff and facilities. In 2025, Satlantis established a plant with 1,000 square meters of laboratory space and clean rooms. Another 13,000-square-meter factory, scheduled open in 2028, will be on the Bilbao campus of the University of the Basque Country.

In 2025, Satlantis announced plans for five FlexSat Earth-observation microsatellites. The first is scheduled to launch in late 2026.

“FlexSats are “an essential component of any effective revisit, any efficient monitoring of particular geometries, compatible with much larger satellites,” Hernani said.

Earth observation missions require low latency, radiometric precision, accurate geolocation and spectral band alignment, Hernani said, adding, “Spain, Portugal, some Nordic and Eastern European nations have trusted Satlantis to deliver this capability.

Next year, Satlantis plans to begin offering an optical payload, called Graphium, to acquire imagery with a resolution of 50-centimeters per pixel. Graphium also is designed to acquire video and imagery at night. A portfolio of thermal infrared payloads of varying resolutions are also being developed for missions expected to launch in 2027 and 2028.

Satlantis employs 220 people in Spain, the United Kingdom, France and Florida. The company’s 2025 earnings before interest, tax, debt and amortization were 14.4 million euros.