GOMspace is scheduled to release 2024 Q3 report on August 23rd, but gave investors a preview on July 24th. GOMspace has for over a year been targeting positive free cashflow reach in the second half of 2024. GOMspace reported operating at 6.6 MSEK positive free cashflow in Q2 and reiterated the same for 2H 2024.
Perhaps more significantly, GOMspace reported its “Program Business Unit had a strong Q2 order intake of 185 MSEK.” Resultantly, backlog grew from 161 MSEK to 299 MSEK, now comfortably above yearly revenue. GOMspace CEO Drachmann states focus remains on growing US sales, but only 8 MSEK in orders were obtained from North America last quarter (about $750k).
It is unclear if this new backlog includes any part of the Indonesian deal. I suspect not because there has been no announcement yet of Indonesia finalizing and growth in backlog is less than the Indonesian contract value.
If you are not looking closely at this company already, you should start to.