SatixFy announces the results for the nine months of2023.

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Thursday, November 30, 2023, 8:03 AM

SatixFy announces results for the first nine months of 2023

SatixFy Communications Ltd. ("the Company" or "SatixFy"), a pioneer in next-generation satellite communication systems developed with proprietary chipsets, announced its consolidated financial results for the first nine months ended September 30, 2023.

Financial highlights for the first nine months ended September 30, 2023.

Management comment

Nir Barkhan, Managing Director of SatixFy, commented: "We are pleased to show stable revenue growth compared to the same period last year. We are actively engaging in discussions with key potential clients and hope to successfully conclude them in the coming quarters. We are confident that we offer an attractive proposition for our clients, which includes significant potential savings on capital expenditures, improved efficiency and communication performance, as well as a reduction in the size of satellites, allowing for coverage with fewer satellites. We believe we are at a critical juncture in our industry due to the rapidly growing market for low Earth orbit (LEO) satellite systems. We intend to continue making significant investments in research and development to maintain our leading position and advance our satellite communication systems and chipsets."

Yoav Leibovich, Executive Chairman of SatixFy, commented on the $60 million agreement with MDA Ltd., which was finalized at the end of October and includes the sale of one of SatixFy’s subsidiaries in the UK.

About SatixFy

SatixFy develops comprehensive next-generation satellite communication systems for space and ground, including satellite digital antennas, user terminals, and modems based on powerful chipsets designed in-house at SatixFy. SatixFy’s products include software-defined radio (SDR) modems and fully electronically steered multi-beam antennas (ESMA) that support the advanced communication standard DVB-S2X. SatixFy’s innovative chipsets enhance the overall performance of satellite communication systems, reduce the weight and power consumption of terminals and payloads, and free up space for gateway equipment. SatixFy’s solutions, including advanced VSAT and fully electronically steered multi-beam antenna arrays, are optimized for various mobile applications and services utilizing LEO, MEO, and GEO satellite communication systems, including in-flight communication systems, high-quality communications on the go, and much more. SatixFy is based in Rehovot, Israel, with additional offices in the UK, the USA, and Bulgaria.