Astra Reports Q1 2023 Results

Image: Astra

Astra ($ASTR) reported earnings for Q1, revealing significant cutbacks in spending as the company pushes ahead on Rocket 4 development. 

By the numbers

  • Gross profit of $0
  • Net loss of $44.9M
  • Adj. EBITDA of -$42.3M
  • $5M in capital expenditures in Q1
  • $62.7M in cash on hand

$ASTR stock was trading at $0.39 at EOD Monday. 

Closing contracts: Astra is continuing its Launch System 2 development and progressing toward a Rocket 4 launch as it chases down deals. The company clinched an $11.5M USSF contract to launch a mission on Rocket 4. It also delivered eight spacecraft engines and closed a deal with Apex to supply five propulsion kits.

Zooming out

Astra had a rough 2022. After the company failed to launch a NASA mission last summer, it pulled in $0 in Q4 revenue, received a delisting warning from Nasdaq in October, and laid off 16% of its workforce in November.

  • Astra hasn’t been the only launch company struggling with the public markets—last month, Virgin Orbit filed for bankruptcy after failing to secure additional funding.

Last month, Nasdaq granted Astra a six-month extension to get its stock price over $1, which the company could achieve either organically through performance—a difficult road for a launch company in these times—or through a reverse stock split.

Related Stories

NorthStar Raises $14.7M Series D

NorthStar Earth and Space, a startup building an in-situ space situational awareness (SSA) constellation out of its home base in Canada, announced yesterday that it clinched a CAD $20M ($14.7M) Series D round. Telesystem Space Inc., the Québec government, and the Luxembourg Future Fund participated.  “NorthStar’s unique space-based services will provide coverage of significant gaps […]


SpaceX May Test Propellant Transfer on Next Starship Flight

SpaceX is advancing toward testing propellant transfer capability on its Starship Human Landing System (HLS), a significant milestone in its lunar transport architecture. 


Report Considers Commercial Reinforcements For DoD

What would it look like for the Defense Department to be able to lean on the commercial space community in times of need? That’s the question examined by a new report from the RAND Corporation released last week.


Orbit Fab and Space Machines Company Partner on In-Orbit Servicing

Orbit Fab, a US-based company building in-space refueling infrastructure (i.e., orbital gas stations), announced this morning that it is teaming up with the Aussie-based Space Machines Company (SMC) to attach more efficient docking hardware to SMC’s orbital transfer vehicle, which is expected to launch next year. The in-space servicing economy can only reach its full […]