AAC Clyde Space - Gathering momentum for FY24 lift-off
AAC Clyde Space's (AAC’s) Q323 report was encouraging, although it benefited from a large element of licence income without which the underlying progress was disappointing. The reason for that was summer shutdowns at suppliers and customers with some key revenue recognition deferred. However, since the start of Q423 there has been a tremendous order inflow worth around SEK200m. Much of this will start in FY24, supporting the significant acceleration of revenues towards the SEK500m targeted. That should accompany improving profitability and cash flows and lead to a reversal of recent declines in the share price.AAC Clyde Space AB, formerly AAC Microtec AB, is a Sweden-based company, which is primarily involved in the aerospace industry. The Company operates as a provider of space solutions and systems for commercial, governmental and educational purposes on the global market through its partner network and offices in Sweden, the United States and the United Kingdom. The Company specializes in small, purpose-built satellites, as well as sub-systems and components. The Company's customers include the European Space Agency (ESA), National Aeronautics and Space Administration (NASA), Orbcomm, Kepler Communications, NSLComm, KP Labs and Orbital Micro Systems, among others.
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