Stories about space companies’ finances, including earnings reports and M&A news.
Rocket Lab (NASDAQ:RKLB) will attempt to pluck a booster from the skies via helicopter later this month. The effort, if successful, would represent the first time that a small launch vehicle’s booster is recovered. “It’s actually, by far, the hardest thing to do,” Rocket Lab founder and CEO Peter Beck told Payload Friday. The company […]
BlackSky (NYSE:BKSY) is a geospatial intelligence and continuous monitoring company. The Herndon, VA-based space company has been in the news at fairly regular intervals in recent months, due to its role in supplying open-source imagery and intelligence related to Ukraine. Payload sat down with BlackSky CEO Brian O’Toole at Space Symposium earlier this week to […]
On Thursday, Planet released Q4 and full-year (for the fiscal year ended January 31, 2022) financial results. Planet booked $131.2M in revenue last year, the company said yesterday in Q4 & FY 21 financial results. The planet-scanning company is growing at a healthy clip: 2021’s results represent a 16% jump over 2020. Q4 was Planet’s […]
Midland-based AST SpaceMobile (NASDAQ:ASTS) isn’t in the business of pumping petroleum. Rather, the $1.8B Texas company wants to build a space-based, satellite-to-phone cell phone network. Financial results Headed into 2022, AST had $325M in cash/equivalents and $5M of debt. FY and Q4 ‘21 OpEx were $91.6M (+235% YoY) and $31.3M (+35% YoY), respectively. AST SpaceMobile […]
Image via Astra. Note: This slide was pulled from Astra’s Dec. ’21 investor deck, not IR materials presented Thursday. Astra (Nasdaq:ASTR) recorded a net loss of $257.8M in 2021, the company said Thursday. That’s a 278% annual increase, but to be fair, Astra was making and launching more rockets last year than it was in […]
Virgin Orbit (NASDAQ:VORB) lost $157M in 2021 on $7.4M in revenue, the company said yesterday. $VORB finished the day up 8.4%. KPIs at a glance: Adj. EBITDA: -$140M (vs. -$158M in 2020) Cash on hand: $194M Backlog: $575M, 26% of which is covered by binding agreements, and good for a 500% YoY increase. Context: This […]
Matthew Desch is the CEO of Iridium (NASDAQ:IRDM), a $5.1B satellite operator based in McLean, VA. Payload recently caught up with Desch across town at Satellite 2022. Over the course of an hour, we chatted about (shocker) satellites, constellation strategy, corporate reinvention, Iridium’s moat, “commodity broadband,” Ukraine, dual-use tech, SPACs, and more. There are three […]
Pine Technology Acquisition Corp (NASDAQ:PTOC) and Tomorrow.io (née ClimaCell) have called off their SPAC merger, the two said yesterday. $PTOC closed the day down ~1.4%. Announced Dec. 7, the transaction was expected to give the weather forecasting company (and nascent constellation developer) a $1.2B post-deal valuation, while providing Tomorrow.io with up to $420M in gross […]
Last Monday, Canaccord Genuity initiated coverage on Virgin Orbit (NASDAQ:VORB) with a ‘Buy’ rating and $20 price target. Shares of $VORB were $6.92 when Canaccord published its research. This morning, they sat at $6.57. Defense: In the Feb. 28 note seen by Payload, CG Analyst Austin Moeller refers to the air launcher as an “emerging […]
Image via Rocket Lab Rocket Lab (NASDAQ:RKLB) doesn’t procrastinate on Mondays. The launcher had a busy day. In NZ: Rocket Lab launched “The Owl’s Night Continues” from its new Pad B. An Electron successfully deployed a StriX-β satellite for Japanese SAR operator Synspective. To date, Rocket Lab has now deployed 110 satellites. In VA: As […]
This morning, Seattle-based BlackSky (NYSE:BKSY) reported Q4 and full-year 2021 results. Q4 financial highlights: BlackSky recorded $11.5M in revenue, up 79% year-over-year Operating loss stood at $31.9M; Adj. EBITDA loss was $14.4M (more on that below). Going into 2022, BlackSky had $168M in cash. In Q4, BlackSky recorded $14.4M in capex spend. Financial highlights for […]
Graph: Promus Ventures. Snapshot taken Feb. 17, 2022 before market open. As we’ve written before, investing in space is not for the faint of heart. In a recent op-ed for the FT, Sinéad O’Sullivan, a space economist, HBS senior researcher, and friend of Payload, digs a bit deeper into the dynamics of space investing. The good: In 2021, […]
