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.
The order book, cash improvement and new defence orders outweigh execution risks and support the HOLD signal.
The market reacts positively to the strengthened balance sheet and owner support despite some dilution and weaker technical trend.
HOLD is the call. Positive is the market mood. Medium risk means some things can go wrong.
Latest change
- 13 Nov 2026 — Report shows strengthened order book and new credit facility driving positive market view despite lower cash after payout.
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Show all changes (20) — 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, shift to positive cash flow and new defence orders drive growth in the data and services segment.
Bear case
Execution risks in large projects and continued financing needs remain despite improved cash-flow profile.
Why this signal
The order book, cash improvement and new defence orders outweigh execution risks and support the HOLD signal.
Recent news
AAC Clyde Space reported Q3 with net sales of 100.5 MSEK and EBITDA of 10.3 MSEK. The order book rose to 1 183 MSEK, cash to 74.3 MSEK and new orders were received from ESA, the Netherlands and a NATO country. A new 80 MSEK credit facility was signed with Swedbank.