Author: Scanway
Publication date:
Scanway has published record results for the second quarter of 2025, in which it achieved total revenue of 8.4 million PLN, more than double the figure for the same period last year. On a year-to-date basis, the Company’s total revenue for the first half of 2025 stands at PLN 11.6 million. The main contributor to this result was the settlement of an advance payment under a contract with an Asian client – the satellite constellation being built by the partner will be equipped with a series of high-resolution Earth observation telescopes from Scanway. The Company’s backlog (order book) as at 30 June 2025 stood at PLN 46.5 million, up 176% on the figure as at 31 March 2025. This backlog does not yet include the expected revenue from the Company’s participation in the CAMILA project.
- In the second quarter of 2025 alone, Scanway achieved a record PLN 8.4 million in total revenue (+120% y/y), PLN 4.7 million in EBITDA (+216% y/y) and PLN 3.7 million in net profit (+211% y/y)
- In the first half of 2025, Scanway generated total revenue of 11.6 million PLN (+119% y/y), PLN 4.3 million in EBITDA (up PLN 3.8 million year-on-year) and PLN 2.4 million in net profit (up PLN 2.4 million year-on-year)
- Scanway’s backlog as at 30 June 2025 rose by 176% quarter-on-quarter to PLN 46.5 million and does not yet include the expected revenue from the Company’s participation in the CAMILA project
- Scanway’s cash and cash equivalents at the end of June 2025 rose to PLN 9.1 million, taking into account the gross proceeds of PLN 11.6 million from the Company’s share offer carried out in June
– Scanway’s record results for the second quarter were largely achieved thanks to the first payment from a client in Asia, with whom we signed a contract in June this year worth over 38 million zł. The ability to sign contracts on this scale is not the result of a single quarter’s efforts, but of several years of consistent work by the entire Scanway team and the effective use of the funds we have raised during this period from our operating activities and from investors. We do not intend to slow down, which is why, in June, we completed another funding round, the proceeds of which will directly support the smooth execution of the aforementioned contract and increase Scanway’s production capacity in the area of ever-larger telescopes, for which there is currently high and growing market demand – comments Jędrzej Kowalewski, President of the Management Board of Scanway S.A.
– We are entering the second half of the year with a backlog of 46.5 million zł, and it is worth noting that this figure does not yet include the expected revenue from Scanway’s participation in the CAMILA project. In April, an agreement was signed between the European Space Agency (ESA) and the project leader, Creotech Instruments, and Scanway was designated as a recommended subcontractor, which, together with the other entities, will be awarded a total of €26.3 million. We are ready to support this project, which is crucial for Poland’s space capabilities, and to supply optical instruments for at least two satellites as part of the national constellation – adds Jędrzej Kowalewski.
In the second quarter of 2025 alone, Scanway’s total revenue – calculated as the sum of net revenue from the sale of products, goods and materials, and subsidies received – amounted to PLN 8.4 million, representing a year-on-year increase of 120 per cent. Solutions for the space sector (Space) accounted for 94% of revenue, whilst modular vision systems in the industrial segment (Industry) accounted for 6%. EBITDA for the period under review amounted to PLN 4.7 million, whilst net profit stood at PLN 3.7 million. The backlog – that is, signed and ongoing contracts to be settled in future periods – stood at PLN 46.5 million as at 30 June 2025, up 176% from PLN 16.9 million as at 30 March 2025. Cash and cash equivalents at the end of June 2025 stood at PLN 9.1 million and included proceeds from Scanway’s share offering carried out in June this year, amounting to PLN 11.6 million gross.
Cumulative total revenue for the first half of 2025 amounted to PLN 11.6 million, representing an increase of 119% year-on-year. Space-related activities accounted for 93% of the revenue generated, whilst industrial projects accounted for 7%. EBITDA stood at PLN 4.3 million, compared with PLN 0.5 million last year, whilst net profit reached PLN 2.4 million, compared with PLN 0.0 million a year ago.
– In the second quarter, we not only achieved record results, but also launched new, promising initiatives. In June, we received our first commercial order for a vision system for use in so-called in-space servicing, in this case for inspecting the docking process of satellites in orbit. We anticipate that this type of space technology application will grow in importance in the coming years, and we want to offer our customers ready-made solutions with proven flight heritage. Meanwhile, in early July, we announced the extension of our contract with the US-based Intuitive Machines and our involvement in a project for the European Space Agency, for which we will build a European lunar data processing chain. Next year, our telescope, as part of a space mission with a US partner, will be responsible for mapping the Moon’s surface; subsequently, our team, drawing on our experience in the Industry sector and Hydra technology, will process the satellite imagery we have acquired for the needs of the ESA and European countries. – emphasizes Mikołaj Podgórski, COO of Scanway S.A.
– For the third year running, we are attending the world’s largest event for small satellites, the ‘Small Satellite Conference’, in the USA. Due to its growing popularity, the event has been moved to Salt Lake City this year and brings together hundreds of companies and thousands of professionals from the space sector. We have already signed our first contract during the event and hope that, as every year, we will return to Poland with a substantial pool of sales leads, which we will be working on over the coming months and quarters. It was at SmallSat – as the conference is commonly known – that our collaboration with Nara Space Technology from South Korea began. This year, we are also showcasing our latest telescope, with a mirror diameter of 45 cm, at our stand, and I can say that it is certainly attracting the attention of attendees – adds Mikołaj Podgórski.
On 12 August 2025 (during the Small Satellite Conference), the Company signed a contract with the Danish firm Space Inventor. Scanway will develop and supply a flight-ready model of a telescope for asteroseismic observation of stars, which, as part of the ‘Stars and ExoPlanets’ mission, will be integrated with Space Inventor’s satellite platform and launched into Earth orbit. The contract is worth €500,000 and has a duration of 12 months.
Scanway has been actively supporting the development of the space economy for years, and the Company’s products have been installed on board the two most important Polish and European space missions of 2024. Scanway supplied the largest telescope in the history of the Polish space industry to the EagleEye satellite, as well as a camera system for the maiden flight of Europe’s latest launch vehicle, Ariane 6. Furthermore, the Company is carrying out constellation projects with global clients, including Nara Space from South Korea, worth EUR 2.7 million, and Marble Imaging from Germany, worth EUR 3.2 million. Both projects have the potential for further expansion in the future.
About Scanway:
Scanway S.A. is a Polish company that has been in business for 9 years. It specializes in the optical data chain, which includes data acquisition, processing, analytics, and event prediction based on that data. In the Space segment, the company provides both hardware solutions (optical instruments, such as telescopes and cameras) and imaging analytics. In the Industry segment, it offers solutions (products) based on image data processing, including complete quality control systems. The Company’s expertise and experience in both fields are complementary and create synergies. Scanway strives to provide its customers with full access to key optical data in both segments.
As one of only a dozen or so companies worldwide, Scanway has developed a complete range of optoelectronic products for Earth observation from orbit. The company carries out key contracts for space equipment in Poland and around the world, including for commercial clients. It also operates STAR VIBE, Poland’s longest-operating optical observation satellite. The company’s solutions have been incorporated into the most important European and Polish space missions of 2024. Among other achievements, the company installed its equipment (the Scanway Camera System) on the maiden flight of Europe’s newest launch vehicle, Ariane 6, and delivered Poland’s largest-ever telescope, weighing approximately 10 kg (SOP200) to EagleEye—the largest satellite Poland has ever sent into space.
The company has completed over 40 quality control implementations in the industrial sector. As a technology partner to the sector’s largest manufacturers, it develops proprietary software solutions using AI and advanced applications for Industry 4.0.
In October 2023, the Company made its debut on the NewConnect market. It has fully achieved the goals announced in its initial public offering and is currently preparing to move to the Main Market of the Warsaw Stock Exchange. For more information: https://scanway.pl/
Media Contact
Scanway S.A. Corporate Communications Office
Katarzyna Żądło
+48 661 140 260
k.zadlo@scanway.pl
Contact for investors and analysts
Mardoniusz Maćkowiak
+48 605 959 539
mardoniusz.mackowiak@ccgroup.pl