Kleos Space has provided an update for the quarter ending 31 March 2022 (Q1 2022).
Commenting on the Company’s Q1 2022 quarter progress, Kleos Space CEO Andy Bowyer said, “Kleos hit an important commercialisation milestone in Q1, booking first significant revenues and growing the revenue generation and data collection capacity by expanding satellite constellation. We remain confident of achieving our target during FY22i.”
“Over the coming year, we will continue to focus on transitioning the business to significant growth and achieving our profitability and revenue targets. We are leveraging industry partnerships and engagement to build market recognition with key target customers in the US, UK, EU, South & Latin America and Asia Pacific. In parallel, constellation planning is underway to prepare the business for sustainable growth to match the market demand across the DaaS & new MaaS offerings.”
“Our exceptional team continues to develop world class intellectual property, ensuring our product offering remains at the forefront of the industry and caters to the evolving needs of our governmental and commercial customers. The defence sector is an early adopter of emerging technologies and ongoing innovation will deliver long-term value for our shareholder.” said Bowyer.
Key Points:
- Mission-as-a-Service (MaaS) complements Kleos’ Data-as-a-Service (DaaS) offering, and fulfils the growing demand for dedicated data collection capacity to meet individual intelligence, surveillance and reconnaissance mission requirements.
- Each Mission-as-a-Service contract will be tailored to suit customer requirements, including satellite capacity needed, level of taskability required and corresponding data rights.
- As Kleos’ constellations grows, the company will offer a combination of DaaS datasets enabling the opportunity to monetise high volume, low value contracts and Maas offering to deliver dedicated, high value contract opportunities.
- Monthly revenues in March 2022 of A$167K
- On track to achieve 2022 targets
- Monthly EBITDA positive status during mid-2022
- End 2022 ARR of US$18M
- Kleos has recently launched its third cluster of four satellites (Patrol Mission) and a fourth satellite cluster (Observer Mission) is being prepared ahead of a mid-year launch.
