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SatixFy Communications Ltd. (Symbol: SATX) is a leading developer in the next-generation satellite communications sector. The company specializes in creating comprehensive satellite communication systems, including satellite payloads, user terminals, and modems. SatixFy distinguishes itself with its development of high-performance chipsets that form the backbone of its products.
Key offerings from SatixFy include modems equipped with Software Defined Radio (SDR) technology and Fully Electronically Steered Multi-Beam Antennas. These advanced modems support the DVB-S2X communications standard, ensuring robust and efficient data transmission.
SatixFy has a significant geographical presence, operating in the U.S., Canada, the UK, and various other countries. The majority of the company's revenue is generated from its operations in the U.S. and Canada, highlighting its strong market influence in North America.
Recent achievements include the launch of new satellite communication solutions and strategic partnerships aimed at enhancing global connectivity. SatixFy is currently engaged in multiple cutting-edge projects that underscore its commitment to innovation in satellite technology.
The company's solid financial condition and ongoing projects position it as a significant player in the satellite communications industry. SatixFy continues to push the boundaries of satellite technology, offering products that meet the evolving needs of its clients and the broader market.
SatixFy Communications (NYSE AMERICAN: SATX) has announced regaining compliance with NYSE American's continued listing standards. The company received written confirmation on December 16, 2024, stating it has resolved the listing deficiencies previously identified in a November 30, 2023 letter. These deficiencies were related to Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide. SatixFy demonstrated compliance for two consecutive quarters as required under Section 1009(f) of the Company Guide and affirms its commitment to maintaining NYSE American listing requirements while focusing on operational and financial objectives.
SatixFy Communications (NYSE American: SATX) reported its nine-month 2024 financial results, showing total revenues of $8.5 million, a 4% decrease from 2023. The company expects full-year 2024 revenues between $17-$19 million with 70-75% gross margins.
Key highlights include a $39 million contract with Telesat for Lightspeed Network development and expanded collaboration with MDA Space Gross profit increased 36% to $6.2 million, while operating loss improved 18% to $23.1 million. Net loss improved 43% to $34.5 million.
Cash position decreased to $6.5 million as of September 30, 2024, compared to $14.0 million at end-2023. R&D expenses decreased 15% to $21.4 million, while finance expenses dropped 64% to $11.5 million.
Telesat has signed a US$39 million contract with SatixFy for the development and delivery of Landing Station Baseband Units for the Telesat Lightspeed Network. Under the agreement, SatixFy will design and supply Landing Station Baseband systems over a 28-month period, enabling high-speed communication between Telesat Lightspeed LEO satellites and Landing Stations. The contract includes US$5 million already paid to SatixFy in a previous period. The Telesat Lightspeed constellation aims to provide global, high-speed, low-latency broadband connectivity for enterprise and government organizations.
SatixFy Communications (NYSE American: SATX) has announced new agreements worth $10 million, comprising $5 million in new deals and a $5 million prepayment from an existing contract with MDA Space. The arrangement includes a $3 million addition to the original Master Purchase Agreement from October 2023, plus a new Authorization to Proceed agreement worth $2 million. This builds upon their previous $60 million transaction with MDA Space, positioning SatixFy's space-grade chips and software as key components for next-generation digital satellite payloads in LEO and GEO satellite constellations.
SatixFy Communications (NYSE American: SATX) has signed a $9 million software development and license agreement with MDA Space (TSX: MDA) for satellite payloads. The contract includes:
- $6 million for software solution delivery with a license for an existing MDA Space customer
- $3 million for a license to support future customers
- An option for MDA Space to access part of the code for an additional $4 million
SatixFy will provide modem and beamforming software for its chipsets used in digital satellite broadband Low Earth Orbit Constellation payloads. This agreement positions SatixFy as a market leader in space-grade chips and software for next-generation digital satellite payloads.
SatixFy Communications (NYSE American: SATX) has released its financial results for the first half of 2024. Total revenues increased by 7% to $6.1 million, primarily driven by space-grade ASIC engineering sample shipments. Gross profit surged 96% to $4.5 million, with a gross margin of 74%. The company's operating loss improved by 17% to $13.7 million. SatixFy secured a landmark order exceeding $20 million for Prime2 Space-Grade Digital Beam Former Chips from a leading technology company building a global LEO satellite network. The company expects commercialization by mid-2025 and continues to invest heavily in R&D to maintain its competitive edge in satellite communication systems.
SatixFy Communications (NYSE AMERICAN: SATX), a leader in next-generation satellite communication systems, announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference from September 9-13, 2024. CEO Nir Barkan will present virtually to investors, with the presentation available online from September 9, 2024, on both the conference portal and SatixFy's investor relations website.
Mr. Barkan and Interim CFO Oren Harari will be available for virtual one-on-one meetings with investors throughout the week. Investors can schedule meetings through the conference portal or by emailing SatixFy's investor relations team at satixfy@ekglobal.com.
SatixFy Communications has secured a major order worth over $20 million for its Prime2 Space-Grade Digital Beam Former chips.
The client is undisclosed, and the delivery will span the next five quarters. This follows a previous $4 million order in September 2023. The Prime2 chip, essential for massive MIMO antennas in space, supports both LEO and GEO applications, offering high scalability, flexibility, and performance.
This order highlights SatixFy's role in advancing satellite communication technology.
SatixFy Communications, a leader in satellite communication systems, announced CEO Nir Barkan's participation in Maxim Group's Virtual TMT Investor Conference on June 5, 2024, at 9 am ET. The event will explore how emerging growth companies leverage new technologies like AI. Barkan will discuss SatixFy’s technological advancements, potential market opportunities, and trends in satellite communications. The fireside chat will be streamed live and available for replay.
SatixFy Communications has reported its financial results for the first quarter of 2024, noting a 20% decrease in total revenues to $1.9 million, compared to the same period in 2023. Despite the revenue drop, gross profit rose by 62% to $1.6 million, thanks to lower-cost service delivery. The company reported an operating loss of $7.7 million, primarily due to increased R&D and administrative expenses. R&D expenses surged to $6.8 million, driven by efforts to develop space-grade ASICs. Net loss narrowed to $11.3 million from $32.4 million in Q1 2023. Cash reserves decreased to $10 million from $14 million at the end of 2023.
CEO Nir Barkan highlighted ongoing development and customer sampling of the company's Prime 2.0 and Sx4000 chips, with commercialization expected by Q1 2025. SatixFy aims to capitalize on the growing LEO satellite market, offering products that promise capital expenditure savings and improved communication efficiencies.
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