SatixFy Communications (SATX) has released an update.
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SatixFy Communications, a leader in satellite communication systems, reported a 43% improvement in net loss for the first nine months of 2024 compared to the previous year, driven by increased gross profit and reduced operating expenses. The company secured a significant $39 million contract with Telesat and expanded its partnerships, reflecting strong demand for its cutting-edge technology. Despite a slight dip in total revenue, SatixFy anticipates full-year revenues between $17-$19 million, highlighting its strategic market position.
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