Page 71 - Australian Defence Magazine November 2022

NOVEMBER 2022 | WWW.AUSTRALIANDEFENCE.COM.AU
FROM THE SOURCE ADAM GILMOUR 71
couldn’t do much; but with time they should start focusing on being a NASA-lite.
ADM: Whereabouts is Gilmour Space on its journey to profitability? What are your investors looking for at this stage of your growth?
GILMOUR: They’re looking for us to become revenue producing. Soon we will be close to net income positive, so they’re happy about that. They will be even happier when we don’t need venture capital anymore, and I think we’re pretty close to that point. But the big issue for Australian VC investors has been the lack of revenue. Last financial year we hardly made any money from a revenue perspective, and I know some of the other VC-backed companies weren’t making that much either, but in the last 12 months things have changed a lot.
ABOVE LEFT: Gilmour Space employees conducting vibration testing.
ABOVE: A render of Gilmour Space Technologies’ Eris rocket.
ADM: And where exactly does that income come from? GILMOUR: Right now, we’re probably 50 per cent defence and 50 per cent civilian. Defence has been forward leaning in terms of buying early launches from us [a 100 kg satellite] and working with us on developing technology, which is good. I want to get an Australian Space Agency contract soon. We want to be able to get some funding to provide launches for Australian payloads. We’re also working on launch contracts with global companies.
GILMOUR SPACE