Author: Scanway
Publication date:
Scanway S.A. is updating its Development Strategy for 2026–2028, published on 30 September 2025, while maintaining all the key pillars and development directions adopted a year ago. The Company is raising its ambitions in response to faster-than-expected growth in demand, reflected in the current backlog and project pipeline. In addition, the success of the public offering completed in June this year, through which Scanway raised approximately PLN 60.6 million gross, increases its capacity to finance further development. The Company will accelerate work on Very High Resolution (VHR) instruments, including adaptive optics technology, and will develop additional revenue streams under the Data-as-a-Service (DaaS) model. The updated Strategy assumes, among other things, achieving PLN 200 million in cumulative consolidated sales revenue in 2026–2028, PLN 20 million in consolidated EBITDA in 2028, and a backlog of PLN 100 million by the end of 2028.
- The Company maintains its objective of developing the capacity to produce more than a dozen optical payloads annually, with a unit value of EUR 0.5–2.0 million, by the end of the Strategy horizon.
- Scanway also aims to achieve the technological capability to provide imaging at approximately 50 cm/pixel from LEO by the end of 2028 and, from 2029, to begin commercializing optical instruments of this class (VHR).
- Data-as-a-Service is a new strategic area of development intended to enable Scanway to generate additional recurring revenue streams from data sales and increase the Company’s participation across the full optical data value chain.
– The Strategy we presented in September 2025 set the right direction for Scanway’s development. However, the past twelve months have shown that both the market and the Company itself are developing faster than we anticipated when the document was published. We are seeing a greater number of constellation projects within our reach, significantly higher activity among international customers, particularly in the United States, as well as new opportunities in areas that were at an earlier stage of development just a year ago. Therefore, we are not changing the Strategy; we are raising and further defining our ambitions. We are setting measurable financial targets, including achieving PLN 200 million in cumulative consolidated sales revenue in 2026–2028, and preparing Scanway for the next stage of its development as a global supplier of advanced optical technologies – comments Jędrzej Kowalewski, CEO of Scanway S.A.
The updated Strategy assumes a total of PLN 200 million in cumulative consolidated sales revenue in 2026–2028. At the same time, the target for 2028 is to achieve PLN 20 million in consolidated EBITDA, supported by the growing scale of operations, increased production repeatability, and further optimization of optical instrument manufacturing and integration processes. Scanway also assumes that the Company’s backlog will reach PLN 100 million by the end of 2028, providing a project base for further growth in subsequent years. These targets are aligned with the Incentive Program for 2026–2029, adopted in June 2026. The Program aligns the interests of the Management Board, key employees and associates with the achievement of Scanway’s long-term financial and operational objectives and the creation of shareholder value.
One of the areas that has gained importance since the Strategy was published last year is the development of Very High Resolution optical instruments. Scanway is currently developing optical instruments capable of imaging at a resolution of approximately 85 cm per pixel from LEO, while its objective is to join the small group of companies worldwide capable of imaging at 50 cm per pixel. The development of adaptive optics technology is the means to achieve this level. In the next phase of development, starting in 2029, the Company plans to commercialize this new class of VHR telescopes. For the Wrocław-based company, this means gradually entering the segment of more technologically advanced and higher-value optical instruments offering higher margins and broader application potential, particularly in the defence sector.
The second major extension of the Strategy is the Company’s entry into the Data-as-a-Service segment, where Scanway aims to increase its participation across the full optical data value chain, in line with its APAP model (Acquisition, Processing, Analysis, Prediction). To date, the Space segment’s business has been based primarily on the sale of hardware – optical instruments and technologies required for data acquisition. The DaaS model is intended to enable participation in subsequent stages of data monetization, including data processing and analysis, as well as the delivery of ready-to-use information and insights to end customers to support their decision-making processes. In this way, Scanway aims to gradually increase the share of recurring revenue in its sales structure, reducing its dependence on one-off hardware supply contracts and integration projects. The DaaS segment is also characterized by significantly higher margins, while the value of data sold over a satellite’s entire lifecycle may be several times higher than the value of the instrument itself.
– We want an increasingly larger share of the value generated by Scanway’s technologies to remain within the Company even after an instrument has been launched into orbit. An imaging instrument is the beginning of the value chain, not its end. Our experience in data processing and analysis gives us a foundation for participating in its further commercialization as well. DaaS allows us to expand our business beyond the sale of instruments themselves and gradually build a recurring revenue model based on data commercialization – explains Mikołaj Podgórski, COO of Scanway S.A.
The Strategy update also follows a significant strengthening of Scanway’s position on the capital market and an increase in its capacity to finance further development. On 27 March 2026, Scanway debuted on the Main Market of the Warsaw Stock Exchange, and on 10 April it was included, among others, in the sWIG80 and sWIG80TR indices. In June 2026, a share offering with a total value of PLN 76.4 million was completed, through which the Company raised PLN 60.6 million gross. The capital increases the Company’s ability to finance investments required to scale its production and laboratory infrastructure, develop next-generation instruments, and build capabilities in DaaS, defence and dual-use technologies.
The updated Strategy maintains Scanway’s overarching objective for the end of 2028: to become one of the largest optical payload integrators in Europe. In the longer term, the Company’s ambition remains to join the world’s largest commercial optical payload integrators. The full text of Scanway S.A.’s updated Strategy for 2026–2028 is available on the Company’s website in the Investor Relations section.
Key elements of the update to Scanway S.A.’s Strategy for 2026–2028
| Area | Company Strategy – September 2025 | Strategy Update – September 2026 | Rationale for the update |
| Cumulative revenue 2026–2028 | Level enabling the Company to reach the break-even point | PLN 200 million in cumulative consolidated sales revenue | Growth in the scale of operations and identified demand |
| EBITDA 2028 | Achieving positive EBITDA | PLN 20 million in consolidated EBITDA | Economies of scale and optimization of the manufacturing and integration of existing products |
| Backlog at the end of 2028 | Backlog at thMore than PLN | PLN 100 million | Growing order portfolio |
| Production capacity | More than a dozen payloads annually, with a unit value of EUR 0.5–2.0 million | 2026–2028: more than a dozen payloads annually, with a unit value of EUR 0.5–2.0 million | Increase in project value and complexity resulting from the development of advanced technologies |
| from 2029: instruments with a unit value of EUR 2.0–20.0 million, depending on the number of engineering models and additional services | |||
| Project pipeline | – | Further growth and development of the project pipeline, covering both individual instruments and solutions for satellite constellations | Increase in the number and scale of potential projects, supported by ongoing discussions |
| Imaging resolution / VHR | Development of optical instruments with increasingly higher resolution | 2026–2028: imaging capability of approximately 0.85 m/pixel; from 2029: commercialization of VHR-class instruments with a target imaging capability of approximately 0.50 m/pixel from LEO | Technology development and entry into VHR |
Data-as-a-Service (DaaS) | – | Development of a new model for generating revenue streams – recurring data sales under the DaaS model. Commercialization of data processing and analytics components (including: offering insights derived from raw data) | Entry into the full data value chain (APAP) – access to a market worth approximately USD 12 billion and revenue diversification |
About Scanway:
Scanway S.A. is a Polish company that has been in business for 10 years. It specializes in the optical data chain, which includes acquisition, processing, analytics, and event prediction based on that data. In the Space segment, it 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 a dozen or so companies worldwide, Scanway has developed a complete line 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 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 deployed its equipment (Scanway Camera System) on the maiden flight of Europe’s newest launch vehicle, Ariane 6, and supplied Poland’s largest-ever telescope, weighing approximately 10 kg (SOP200), to EagleEye.
The company has completed nearly 50 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.
On 27 March 2026, the Company transferred its listing from the NewConnect market to the Main Market of the Warsaw Stock Exchange. For more information, please visit: https://scanway.pl/
Additional information:
Katarzyna Żądło
Chief Communication & Investor Relations Officer
Scanway S.A.
+48 661 601 402
k.zadlo@scanway.pl
Mardoniusz Maćkowiak
Investor Relations Manager
cc group
+48 605 959 539
mardoniusz.mackowiak@ccgroup.pl
Franciszek Szukała
Financial Communication Manager
cc group
+48 664 920 048
franciszek.szukala@ccgroup.pl