Kleos achieves 'first major revenue event' following entering 'operational phase'

21st March 2023
Harry Fowle

Kleos Space has recently announced it has achieved its 'first major revenue event' with €900k in revenue recognised in February 2023.

This follows Kleos entering 'operational phase' having achieved consistent daily data delivery from its KSF1 Vigilance Mission earlier this year.

Recent highlights include:

  • RF data is collected by Kleos satellites, and is then processed through Kleos proprietary signal processing technology on-ground to generate Kleos intelligence products
  • On-ground signal processing technology is a competitive advantage to peers who process in space - as software updates and improvements can be made without capex investment in space
  • In February, Kleos confirmed that the Vigilance Mission (KSF1) satellites have now been entered into operations following achievement of reliably delivering data products against a monthly service level to Government and Commercial customers
  • 'First major revenue event' achieved following entering operational phase, with €900k in deferred revenue recognition in February and further cash inflows and revenues to come
  • Kleos' sales pipeline is strong with 12 government agencies and 31 commercial entities presently reviewing evaluation data, which Kleos is looking to convert into future contracts
  • Advancements made within the Company's proprietary signal processing technology have enabled delivery of Kleos data services with fewer satellites in space which results in the potential to increase capacity, reduce execution risk, and lower capex

Kleos has recently joined Ursa Space Systems' Virtual Constellation, the world’s largest database of satellite imagery from the most trusted SAR, optical, and RF data vendors around the globe, enabling access to Kleos products by Virtual Constellation users

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