🇫🇮 ICEYE announces 2025 financials: €250M+ revenue, €100M+ profitability and €1.5B backlog

March 12, 2026

ICEYE, the world leader in sovereign intelligence from space, has announced its unaudited 2025 financial results.

2025 was an inflection point for ICEYE, when growth, profitability, and cash generation scaled together. Key highlights include:

• Revenue: over €250 million
• EBITDA: over €100 million
• Cash: over €350 million
• Cash from operations: over €130 million
• Contracted backlog: €1.5 billion

ICEYE’s €1.5 billion backlog (contracted, not-yet recognized revenue) reflects sustained sovereign intelligence demand and long-term national security priorities, not cyclical commercial spend. The company doubled in 2025 and is set to grow at a similar rate in 2026.

CEO and co-founder Rafal Modrzewski and CFO Magdalena Bartoś sat down with Bloomberg to discuss the results. Read more in the interview here.

About ICEYE

ICEYE is the world leader in sovereign intelligence from space. We deliver persistent monitoring capabilities to detect and respond to changes in any location on Earth.

ICEYE owns the world’s largest and most advanced SAR (synthetic aperture radar) satellite constellation. To our customers, we provide intelligence with unmatched quality, latency, and revisit times, in any weather, day or night. To governments who choose to operate their own constellation, we provide this proven capability as a sovereign system.

ICEYE-built constellations serve customers in defence and intelligence, environmental monitoring, insurance, and emergency management. We enable fast decisions that contribute to a safer future.

Founded and headquartered in Finland, ICEYE operates globally with over 1,000 employees across Poland, Spain, the UK, Australia, Japan, the UAE, Greece, and the US.

For more information, visit iceye.com.

Media contact: [email protected]

Originally published on March 12, 2026 by ICEYE.