SATLANTIS is a Spain-headquartered space company building optical payloads and integrated small-satellite solutions. Its iSIM instrument family is the foundation of a portfolio spanning Earth-observation missions, environmental monitoring and applications for government and security customers. Through its SuperSharp subsidiary, the group also has a thermal-infrared technology business in the United Kingdom.
The company is especially interesting commercially because it works at more than one level of the supply chain. It can supply an instrument to another spacecraft project, assemble a mission around partner platforms or offer data associated with its own satellite capabilities. Those roles involve different buyers and different revenue models, and its recent public disclosures help make the distinctions visible.
An international history centered on optical instruments
SATLANTIS's corporate timeline records its founding in the United States in 2013 and the establishment of its headquarters in Spain in 2014. It subsequently developed a record of instrument demonstrations and satellite missions, including iSIM work associated with the International Space Station. The history explains why the company retains a US presence alongside its Basque industrial base. Corporate history
The iSIM-90 and iSIM-170 names recur across the company's mission announcements. Their role in the portfolio is commercially more important than a simple catalogue of claimed imaging specifications: they are repeatable product families that can be used in different satellite programmes. This gives SATLANTIS a way to develop an instrument business while broadening into complete missions.
The group added another technology family through SuperSharp. In April 2023, SATLANTIS announced that it had acquired a controlling interest in the Cambridge spinout, which specializes in thermal-infrared payloads. The release said SuperSharp would retain its UK identity and brand while gaining access to the group's resources. The public description supports control of that business, while leaving the parent's complete current shareholder structure outside the scope of the announcement. SuperSharp transaction
This acquisition broadened the range of observations the group could address. It also created a cross-border product-development structure in which a specialist subsidiary could retain its own approach and institutional relationships. That is a more informative ownership description than assuming every product is developed within one Spanish legal entity.
Business results show the shift toward complete satellites
In its March 2026 results announcement, SATLANTIS reported €47.8 million in 2025 revenue and €14.4 million EBITDA, describing the figures as following a KPMG audit. The announcement said mission-ready satellites accounted for more than half of income, payloads for approximately 30% and institutional projects for the remainder. These are company-published results, rather than a separate analysis of the underlying audit report. 2025 business update
The mix is the most useful part of the disclosure for understanding the company. It indicates that SATLANTIS's commercial identity has expanded beyond selling cameras. A complete satellite offer carries additional integration and customer responsibilities, while retaining the instrument as a central differentiator.
The same update named established platform partners and described expanded facilities in Bilbao. It also discussed a further factory expected to operate in early 2028. The existing integration footprint and the planned larger site should be followed separately as the company develops its manufacturing organization.
GARAI illustrates the integrated-mission model
GARAI A launched on 14 January 2025. SATLANTIS described the satellite as its seventh mission and fourth Earth-observation satellite, using OHB Sweden's InnoSat platform and carrying iSIM-90 and iSIM-170 instruments. The release connected it with the Iberian Space Partnership involving SATLANTIS, Geosat and CEiiA and the Atlantic Constellation precursor role. At the time of the announcement, commissioning was under way. GARAI A announcement
The disclosed division of work is a useful guide to the business. SATLANTIS contributes its instruments and mission proposition, while an established spacecraft platform supplier provides another major element. This allows the company to offer a broader system without claiming to manufacture every component internally.
GARAI B–INNOSAT UNAMUNO followed on 30 March 2026. The company identified it as its eighth mission and fifth fully integrated satellite, again using InnoSat and the two iSIM instrument families. The launch adds a second dated example within the newer multi-payload satellite generation. GARAI B announcement
For commercial analysis, the repetition matters. It shows a product architecture being used across more than one named mission. The manufacturer's claimed advantages in imaging flexibility are distinct from that observable fact of portfolio continuity, and they should be assessed against the actual customer application being considered.
Thermal imaging adds a different mission and partner set
In February 2025, SuperSharp selected Kongsberg NanoAvionics' MP42 platform for the Blue Moon thermal-imaging mission carrying its HIBISCUS instrument. The announcement also described two additional MP42 platforms for SATLANTIS's next-generation Earth-observation satellites. Its Blue Moon launch schedule was then the second half of 2026. SuperSharp and NanoAvionics agreement
This is another concrete example of a payload specialist working with a platform manufacturer. It also shows why group-level coverage needs to keep mission schedules attached to their source dates. A launch planned in an agreement is evidence of a supply-chain commitment and intended programme, while later launch and commissioning records would establish the operational milestone.
The thermal business expands the potential customer questions beyond conventional visible imagery. Its commercial relevance could include environmental or infrastructure applications, as well as public-sector uses. The existence of those intended applications does not identify every eventual buyer or establish achieved service revenue.
NASA provides a buyer-side data-access milestone
NASA named SATLANTIS US among the awardees in its June 2026 Commercial Satellite Data Acquisition On-Ramp 2 announcement. The agency described an indefinite-delivery, indefinite-quantity multiple-award arrangement with an original maximum contract value of $476 million and a performance period through 15 November 2028. That maximum applies to the contract framework collectively, not to SATLANTIS alone. NASA contract release
This is strong primary evidence of a recognized route into a civil government data programme. It is commercially different from supplying a camera or a mission-ready satellite: the customer framework concerns access to commercial observations for research and applications. It also gives the group's US presence a specific institutional context.
The business implication is the possibility of serving multiple purchasing models from related technical assets. SATLANTIS can pursue instrument demand, mission demand and data demand, but success in one category does not automatically establish the economics of the others.
Software and partners influence the value of existing assets
SATLANTIS's account of its GEISAT Precursor collaboration with Dotphoton describes a remote firmware upgrade completed in April 2024 to add Jetraw Core compression. The relevant event is the reported integration of third-party software into an existing mission. Claimed improvements in data volume and efficiency remain attributed to the companies. GEISAT software collaboration
The commercial significance is that the product can evolve after launch. That creates a role for specialist software suppliers alongside the camera and spacecraft manufacturers. It also makes software compatibility and support part of the longer-term relationship around an orbital asset.
Enagás Emprende's SATLANTIS portfolio description supplies another customer-oriented context: methane-emissions monitoring for the energy sector. It identifies the industrial problem motivating the relationship, while leaving actual service volumes and current financial terms undisclosed. Enagás portfolio account
A March 2026 memorandum with HEO described a different extension, involving non-Earth imaging and joint demonstrations aimed at future government services. The announced work combined HEO's software and analytical expertise with SATLANTIS platforms. It established collaboration and an intended service direction, not a named government purchase under the memorandum. HEO agreement
SATLANTIS consequently belongs in the same broad commercial landscape as radar-data provider Synspective and RF-data specialist Unseenlabs, while offering a different mix of instruments, missions and observations. BDI's Earth-observation service-economics analysis explores the common downstream question: how data becomes useful enough to support repeat demand. For SATLANTIS, its documented transition toward integrated satellites and multiple service channels is the central business development to follow.