Stories about space companies’ finances, including earnings reports and M&A news.
On Wednesday morning, shareholders are set to vote on Intuitive Machines’s reverse merger with Inflection Point Acquisition Corp ($IPAX), a Nasdaq-listed SPAC. If investors vote to approve the de-SPAC, the combined entity will be listed under the new ticker symbol $LUNR. SPAC facts, at a glance Intuitive Machines, headquartered in Houston, announced its intentions to […]
The aerospace & defense (A&D) primes started reporting fourth-quarter results on Tuesday, with Raytheon ($RTX) teeing off first, followed by Lockheed Martin ($LMT), Boeing ($BA), General Dynamics ($GD), and Northrop Grumman ($NOC) this morning. Across the board, companies’ results and forward-looking projections were on the one hand buoyed by sky-high American and allied defense budgets. […]
2022 was the second largest year of ADG deal-making on record, according to a comprehensive analysis published Wednesday by market intelligence firm HigherGov. BTW…ADG = aerospace, defense, and government, and M&A = mergers and acquisitions. With this one simple trick—using ADG and M&A rather than writing the phrases out in full—we’ve given you seconds of […]
In its flagship Space Economy Report published this morning, Paris-based Euroconsult finds that the space market grew 8% in 2022. This report is the gold standard for market intelligence on the end-to-end space economy, from upstream manufacturers to downstream service providers and end users across civil, military, and commercial space. The space value chain… …as […]
The key theme for aerospace within financial markets has been the bifurcation of performance between the traditional aerospace and defense (A&D) sector and space SPACs. Despite the broader market’s abysmal performance this year, traditional A&D companies have outperformed phenomenally. Companies like Lockheed Martin, Raytheon, Northrop Grumman, and BAE Systems are trading 15%–37%+ YTD. The sector […]
On Friday morning, the markets woke up to quite a surprise: A PE firm was taking Maxar ($MAXR) private in a mega-deal worth $6.4B. Then, we saw a monster merger confirmed Sunday evening, with L3Harris ($LHX) agreeing to buy Aerojet Rocketdyne ($AJRD). $MAXR take-private Maxar’s board voted unanimously to enter into a definitive merger agreement […]
Satellogic ($SATL) expects 2022 revenue to be in the $6M–$8M range, the EO satellite operator said in a Thursday business update. In H1 ‘22, “Satellogic took the most significant steps in our history towards realizing our mission, beginning to fully commercialize low Earth Observation,” chief executive Emiliano Kargieman said. By the numbers The highlights: Satellogic […]
Yesterday, Planet ($PL) reported nearly Q3 revenue and projected an annual haul of nearly $200M. The results speak to “strong execution across the company and the mission-critical nature of our data,” CEO Will Marshall said. To start… …the self-described “Bloomberg terminal for Earth data” would point you to its scale. Planet is currently flying ~200 […]
SatixFy completed its SPAC merger with Endurance Acquisition Corp ($EDNC) last week, after shareholders voted to approve the deal Wednesday. The Israeli satcom company had its first day of trading on the New York Stock Exchange on Friday, Oct. 28, represented by the ticker $SATX. SatixFy 101 The company is a fabless chipmaker and developer […]
Last week, we took a look at Credit Suisse’s initiation of aerospace & defense (A&D) industry coverage. In complementary equity commentary published earlier this month and seen by Payload, analysts break down their generally bearish position on the aerospace sector. As a refresher… …here’s one quote from Credit Suisse we published on Friday: “The space […]
Credit Suisse has initiated coverage of the aerospace & defense (A&D) industry. In an analyst note issued on Oct. 11 and seen by Payload, the bank writes that the two should not be viewed in the same light, and that “A” and “D” are a zero-sum game. “From 1940 to 2017, these two sectors worked […]
Space SPACs…are still alive! Houston-headquartered Intuitive Machines said today that it intends to go public, by merging early next year with Inflection Point Acquisition Corp ($IPAX). Assuming the two can take the transaction to the finish line, upon de-SPAC, the lunar lander startup will be listed on the Nasdaq. Key #s The transaction will generate […]
