AAC Clyde Space AB (publ) AAC
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The news check keeps the assessment current.
General analysis — not personal advice.
Current position may be maintained pending the Q2 report.
Strong Q2 growth, record order book and positive cash-flow turnaround balance execution risks and support the HOLD signal.
The market reacts positively to the strong report, record order book and cash-flow turnaround.
HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.
Latest change
- 13 Sep 2026 — Q2 report shows strong growth and cash flow turnaround which strengthens the outlook after the share issue.
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Show all changes (18) — follow the company freeAbout the company
AAC Clyde Space develops and supplies small satellites and satellite-based data services. The company focuses on Space Data as a Service with recurring revenues from Earth observation and maritime surveillance. Operations are mainly in Sweden and the UK with customers including ESA and commercial entities.
Bull case
Record order book and shift to positive cash flow drive growth in the data and services segment.
Bear case
Execution risks in large projects and need for continued financing remain despite improved cash-flow profile.
Why this signal
Strong Q2 growth, record order book and positive cash-flow turnaround balance execution risks and support the HOLD signal.
Recent news
Q2 report showed 51.9 % revenue growth to SEK 112 M, EBITDA of SEK 10.7 M and an order book of SEK 1 197 M. Operating cash flow turned positive and full-year guidance was confirmed. An order worth SEK 9.1 M from a Dutch company was received on 1 September with deliveries during 2027. Directed share issue to Bonnier Capital was completed, making them the largest shareholder at approximately 15.3 %.