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Satcube publishes 2023 financial results and reports strong year-on-year revenue growth of 52%.

April 24 2024

Satcube company, continues on its trajectory and reports strong yearly revenue growth of 52%, from 128M SEK in 2022 to 195M SEK in 2023.

Following an impressive 145% revenue growth in 2022, Satcube is excited to report another strong year-on-year growth in revenue for second year in a row: 52% in 2023, bringing the company closer to 200MSEK in yearly revenue. Those positive financial results will enable the company to continue on its fast-growth track, with increased investments in improving current products and services as well as developing new ones.

“The market is changing as major players make their mark and put pressure on old structures in the industry. At Satcube, we see this rather as an opportunity. We are very pleased with how things are going for the company and look forward to a promising 2024, as we aim for 300MSEK.” says Jakob Kallmér, founder and CEO.

Satcube had an eventful FY 2023 and Q1 2024 where the company achieved many milestones, among which we:

• Received some major orders – i.e. 100 terminal order from Intelsat (link).

• Released a new brand and website, featuring a terminal management platform (link) and all-in-one online rental service, Satcube Instant.

• Grew workforce by 69% and opened a US office.

• Won the “Scale-up rocket of the year” award for West Sweden by news site Breakit (link).

• Pre-launched a new terminal for on-the[1]move communications – Satcube Motion.

“We expect growth to remain strong for the company in the coming years and will continue to put more resources to meet market needs for new and better terminal solutions and services. This in order to continue getting closer to our vision, which is to simplify access to satellite broadband and foster seamless connectivity and borderless communication for all.” continues Jakob Kallmér.