Dubai: Space42 reported higher first-quarter revenue and strong margins, helped by record quarterly performance in its Space Services business and continued demand from government customers. The Abu Dhabi-listed AI-powered SpaceTech company said revenue reached $116 million in the three months to March 31, 2026, supported by a 15% rise in Space Services revenue. The division recorded its strongest first-quarter performance, marking a fourth straight quarter of revenue expansion. The performance was driven by a government business that benefited from a $700 million, 15-year capacity services contract that began on July 1, 2025, following the launch of the Thuraya-4 satellite. Space42 said the growth path is expected to continue during 2026 as new government and commercial applications are launched. Space Services drives growth Space Services remains the main growth driver for the company, with Thuraya-4 operations continuing to ramp up.…