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REHOVOT, Israel - SatixFy Communications Ltd. (NYSE American: SATX), a $89.9 million market cap company specializing in next-generation satellite communication systems, has announced securing £1.8 million (approximately $2.3 million) from the UK Space Agency. This investment, part of the C-LEO program, is earmarked for developing a sophisticated software suite for digital satellite payloads. The funding comes at a crucial time, as InvestingPro data shows the company is currently managing a significant debt burden while maintaining a healthy gross profit margin of 62%.
The funding will advance the creation of regenerative and digital beamforming software, catering to the growing need for reconfigurable satellite payloads. This software aims to facilitate real-time control and monitoring of various satellite payloads across LEO/MEO/GEO orbits, compatible with multiple waveform families, including DVB and 3GPP standards.
Integration is a key feature, with the software designed to work in tandem with SatixFy’s existing Sx4000 regenerative processor ASIC and Prime 2.0 digital beamforming integrated circuits. This synergy is expected to enhance satellite operators’ capabilities, offering a more comprehensive solution that promises improved performance, efficiency, and flexibility while simplifying integration and shortening time-to-market. With last twelve months revenue of $10.35 million, SatixFy’s technological developments are crucial for its growth strategy. InvestingPro subscribers can access 13 additional key insights about SatixFy’s financial health and growth prospects.
Nir Barkan, CEO of SatixFy, views the UK Space Agency’s funding as a validation of the company’s expertise in satellite communications and semiconductor development. The software, developed by SatixFy UK, is anticipated to significantly expand the company’s portfolio, bridging hardware and software for a fully integrated satellite communication solution.
Dr. Craig Brown, Investment Director at the UK Space Agency, highlighted the project’s significance in adapting to the dynamic requirements of new satellite systems and its role in maintaining the UK’s competitive edge in the global space sector.
SatixFy’s product range addresses several aspects of satellite communications, including multi-beam antennas, user terminals, and modems, all powered by proprietary chipsets. The company’s technology is designed to enhance satellite system performance, reduce equipment weight and power needs, and optimize mobile applications for various orbits and connectivity systems.
This news is based on a press release statement and reflects SatixFy’s latest step in its continued effort to innovate within the satellite communications industry. Trading at $1.06 per share with a current ratio of 0.36, investors seeking deeper analysis of SatixFy’s financial position and growth potential can explore comprehensive metrics and expert insights available on InvestingPro.
In other recent news, SatixFy Communications Ltd. has announced its return to compliance with the NYSE American’s listing standards. The company had previously received a notice of deficiency from the exchange on November 30, 2023, but has since demonstrated adherence to the required financial, operational, and governance standards for two consecutive quarters. This development marks an important milestone for SatixFy as it continues to focus on meeting its operational and financial goals. The NYSE American, a small-cap exchange, requires listed companies to meet specific criteria, which SatixFy has now fulfilled according to Section 1009(f) of the NYSE American Company Guide. SatixFy, known for its satellite communication systems, has operations in Israel, the United States, the United Kingdom, and Bulgaria. The company’s compliance status is crucial for maintaining its listing on the exchange, allowing it to continue its business activities without interruption. These recent developments highlight SatixFy’s commitment to adhering to listing requirements and enhancing its corporate governance practices.
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