Equities
Stories about space companies’ finances, including earnings reports and M&A news.
Space SPACs Q2 Earnings Roundup
Five space companies gave their second quarter financial update this week. Here are the highlights: Astra ($ASTR): The company reported $36.7M of free cash flow burn in Q2, reducing the company’s cash in the bank to $26.3M. Astra is rapidly restructuring its businesses as it enters the homestretch in its race against cash burn. The…
Space Businesses Report Q2 Earnings, SPAC Edition
Earnings season is in full swing, with several closely-watched companies reporting financial results this week. Here’s our high-level takeaway on what you need to know. Rocket Lab ($RKLB): While a number of space SPACs are just trying to keep their heads above water, Rocket Lab continues to be a bright spot. The company executed three…
Benchmark Clinches $33M, Launches Autopilot for Satellites
Benchmark Space Systems, the Burlington, VT-based propulsion systems provider, is keeping busy. This week, the company announced a $33M Series B funding round, unveiled new digs, and debuted a brand-new satellite autopilot product called SmartAIM. Benchmark’s Series B Benchmark announced this morning that it’s closed a $33M Series B to speed up the process of…
Aerospace and Defense Primes Q2 Earnings Roundup
It’s not that kind of prime day. Earnings season is in full swing and today, we’re diving into coverage of three primes, including L3Harris’ acquisition of Aerojet Rocketdyne, Boeing’s Starliner drag, and Northrop’s growing space division. L3Harris 🤝 Aerojet Rocketdyne $LHX announced it will close its $4.7B Aerojet Rocketdyne acquisition as soon as today. “We…
Space DOTS Raises $1.5M Pre-Seed
Space DOTS, a UK-based advanced materials testing startup, wants to revolutionize the way the aerospace industry qualifies new materials for use in space. The company announced the closing of a $1.5M pre-seed round this morning to build out its mini on-orbit laboratory tech. Boost VC, Sie Ventures, 7Percent Ventures, Blue Wire Capital, and angel investors…
Exclusive: Leaf Space Closes €20M Series B
Leaf Space, an Italian ground-segment-as-a-service provider, has closed a €20M ($22.1M) Series B as well as an additional €15M ($16.6M) in venture debt through a European Investment Bank loan. Leaf Space 101 CEO Jonata Puglia and CSO Giovanni Pandolfi founded the company in 2014 to provide an end-to-end, easy-to-use solution for satellite operators to send…
ViaSat-3 Experiences Major Issue During Reflector Deployment
The recently-launched ViaSat-3 Americas satellite has hit a major snag. Viasat ($VSAT) announced yesterday that an “unexpected event” occurred during the deployment of the satellite’s massive reflector that may degrade the performance of the communications satellite, which was supposed to grow the company’s broadband business in the Americas. “We’re disappointed by the recent developments,” said…
AST SpaceMobile Raises $59.4M, Stock Craters
AST SpaceMobile ($ASTS) stock plunged nearly 30% this week after the cash-strapped company announced Tuesday it had raised $59.4M in a steep discount public offering. The satellite manufacturer sold 12.5M shares at ~$4.75 a pop, well below the ~$6.50 price tag the shares were trading at before the offering. Space → Mobile: The Odessa, TX-based…
Ramon.Space Raises $26M
Space computing company Ramon.Space closed a $26M strategic financing round, just on the heels of finalizing a key manufacturing partnership with Foxconn subsidiary, Ingrasys, the company announced this morning. Ingrasys and the UAE Strategic Development Fund provided the bulk of the financing, with some participation from existing investors. Ramon.Space has raised more than $45M so…
Exclusive: Continuum Announces $3M Seed Round
Continuum Space Systems announced today that it has closed a $3M seed round, bringing the company’s total fundraising to more than $6M. Continuum’s mission: The startup, which was established in 2021, offers customers a cloud-based platform to take care of many of the logistics required to quickly get customers to space. Customers can come to…
Danti Emerges From Stealth With $2.75M Pre-Seed Round
Danti is emerging from stealth today with the announcement of a $2.75M pre-seed funding round, according to a release shared with Payload. What is Danti? The startup, which was founded this year, seeks to make the huge amount of EO information collected in space and from other sources easier to use. The company is building…
VC Firm Fortuna Expands into Space Investing
Fortuna Investments is opening a Miami office with the goal of investing in 12 early-stage space startups over the next few years. “I think it’s an incredible time to get involved and allocate capital,” Fortuna founder and CEO Justus Parmar told Payload. “We have a lot of powder dry and are looking for opportunities.” Fortuna…
Terran Orbital Reports Q1 Results
Terran Orbital’s ($LLAP) losses piled up despite progress on its monster $2.4B Rivada contract, the satellite bus manufacturer revealed Monday in its Q1 financial results. By the numbers: Rivada’s three-year, 300 satellite contract accounts for the vast majority of the backlog. Terran received its first milestone payment from the contract last month as it inches…
