Astroscale Holdings widened its net loss in the first quarter of the fiscal year ending April 2027, while maintaining a positive gross profit and a stable order backlog. Attention is focused on major projects ahead, progress toward commercialization and share price movements, which are prone to being driven by events.
Astroscale Holdings announced its results for the first quarter of the fiscal year ending April 2027, reporting a net loss of ¥3.07 billion, compared with a net loss of ¥1.21 billion in the same period of the previous fiscal year. According to the results briefing materials, progress temporarily slowed because revenue recognition was delayed for multiple projects, but the company continues to view its full-year operating profit forecast as achievable.
Gross profit was positive in the first quarter, with the gross margin improving to 6%. The order backlog remained stable at ¥36.35 billion, while the proportion of projects fully funded by customers rose to 94%. The analysis indicates that the company is moving toward shortening the time to monetization while reducing the cost burden it bears itself, rather than merely maintaining an order backlog.
As a new government-related contract, the company signed an agreement for an orbital-deorbiting demonstration mission under the French government's France 2030 program, with a contract value of approximately ¥2.36 billion. It also won a new defense contract from the UK Ministry of Defence, worth approximately ¥3.1 billion. Although it did not win the COSMIC Phase 3 order, multiple major projects are currently out for tender, and attention is focused on developments ahead.
From an investor perspective, the share price is likely to move on an event-driven basis in the short term, while over the medium to long term, the expansion of orders and improvement in profitability driven by the concentration of multiple missions and progress toward commercialization are expected to influence corporate value.