14 Nov, 2025
Secures Funding for Missions 3 and 4 with ¥18.2 Billion Capital Raise
Acquires New Payload Contracts, Expands Support System with External Experts, ispace Moves ‘Beyond’
TOKYO—November 14, 2025—ispace, inc. (ispace) (TOKYO: 9348), a global lunar exploration company, today announced its financial results for the second quarter of the fiscal year ending March 2026.
As part of the quarterly financial report, ispace reported on business highlights, primarily covering the operational progress of Mission 3 and Mission 4. For Mission 3, a new payload service agreement worth $22 million USD was signed with U.S.-based Magna Petra, aimed at commercializing Helium-3, a rare resource on Earth attracting attention on the lunar surface. This contract includes installing a mass spectrometer, designed to detect Helium-3 and other elements, onto a lunar rover being developed by ispace’s European subsidiary and transporting it to the lunar surface. As a result, the total payload contract value for Mission 3 has significantly increased from $64 million at the time of the previous Q1 report to $86 million.
Additionally, ispace finalized a contract with the Institute of Science Tokyo for Mission 4 that includes orders potentially reaching up to $32 million, with funding from Japan’s “Space Strategy Fund.” The final contract amount will be determined upon inspection of the performance report and results report by JAXA and Institute of Science Tokyo, and upon notification of the final contract amount. Furthermore, ispace was selected for the Taiwan Space Agency’s lunar mission, concluding a new payload service agreement worth $8 million. The total payload contract value for Mission 4 has increased to $40 million.
Statement of Jumpei Nozaki, CFO & Executive Business Director of ispace
“With the inauguration of the Sanae Takaichi administration in October, the business environment encompassing the space industry, an emerging industry of Japan, remains vibrant, and attention to private sector initiatives is growing further. ispace is steadily strengthening its technical framework for Mission 3 and Mission 4 through the establishment of an external review task force, expanded technical support from JAXA, and the newly established Standing Review Board at our U.S. subsidiary.
Furthermore, through participation in the World Expo in Osaka, the Japan-India Economic Forum, and IAC 2025 in Sydney, we have worked to raise awareness of our business and expand and strengthen international partnerships. Moreover, securing new payload contracts for both missions is firmly establishing the business foundation for our commercial lunar transportation service. ispace is moving–Beyond.”
For details, please refer to the Financial Results for the Second Quarter of the Fiscal Year Ending March 2026 [Japanese GAAP] (Consolidated) document released today on ispace’s IR site. Additionally, the financial results presentation materials, recorded financial results briefing, and transcript of the financial results briefing will be available on the site.
IR site: https://ir.ispace-inc.com/jpn/news/
The summary of the income statement is below. As for the balance sheet, cash and deposits exceeded ¥20 billion as of the end of September 2025, confirming the continued maintenance of high liquidity.
The ¥18.2 billion funding raised in October 2025 is not reflected in the financial figures as of the end of September and is scheduled to be recorded in the following quarter. This fundraising will strengthen net assets, secures funding through Mission 4, and contributes to maintaining a stable financial foundation.
Overview
1. Operating Results
- Net sales: 2,193 million yen
Net sales increased year-on-year (YoY) due to progress in Mission 3 development. The progress rate against full-year consolidated earnings forecast is largely on track, despite the initial expectation of a second-half bias. Sales contributions from Mission 4 are also anticipated starting in Q3.
- Operating profit/loss: – 4,162 million yen
Sales, General & Administrative (SG&A) expenses were utilized in line with mission R&D progress. While Mission 4 expenditures are behind schedule compared to the forecast, the impact on the forecast and timelines is minimal. For YoY, SG&A expenses increased due to Mission 2 insurance premiums and advertising expenses, widening the operating loss.
- Net profit/loss: -4,463 million yen
The net loss was ¥4.4 billion, primarily due to the impact of interest expenses. Compared to the previous year, the net loss decreased due to factors such as foreign exchange gains and losses. Regarding the Small Business Innovation Research (SBIR) grant related to Mission 4, the portion received this fiscal year is scheduled to be recorded in full as non-operating income in Q4.
Q2 Financial Results for the Fiscal Year Ending March 2026
- Research and development expenses: 2,279 million yen
Developments in Japan transitioned from Mission 2 to Mission 4, while the U.S. entity advanced R&D, maintaining flat performance YoY.
- Salaries and allowances: 939 million yen
Increased by 21.6% YoY, in proportion to the increase in the total number of employees in the group (+28 employees YoY)
- Other: 1,325 million yen
Increased YoY mainly due to an increase in insurance premiums and advertising and promotion expenses related to Mission 2.
Q2 Financial Results for the Fiscal Year Ending March 2026
2. Net Sales by Service
Following the previous quarter, Q2 net sales progressed as planned due to the contribution of Mission 3 net sales. Project income, which is sum of net sales and SBIR grants, aims to nearly double the YoY growth.
Q2 Financial Results for the Fiscal Year Ending March 2026
About ispace, inc. (https://ispace-inc.com)
ispace, a global lunar resource development company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with more than 300 employees worldwide. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.