Equities
Stories about space companies’ finances, including earnings reports and M&A news.
Astra Reports Q1 2023 Results
Astra ($ASTR) reported earnings for Q1, revealing significant cutbacks in spending as the company pushes ahead on Rocket 4 development. By the numbers $ASTR stock was trading at $0.39 at EOD Monday. Closing contracts: Astra is continuing its Launch System 2 development and progressing toward a Rocket 4 launch as it chases down deals. The…
Momentus Cash Dwindles Further in Q1 Results
Momentus ($MNTS) notched a number of key milestones this quarter, but continues to stare down a dangerously depleting cash reserve, the company revealed yesterday in its Q1 financial results. By the numbers: Proving out space tug: The company has two functioning spacecraft in orbit. “We are now operating Vigoride-5 and Vigoride-6 concurrently, and both missions…
BlackSky Reports Q1 Results
BlackSky ($BKSY) is predicting a boom in 2023, partially driven by growing government demand for its Earth observation imagery and geospatial intelligence. By the numbers: 2023 outlook: BlackSky remains bullish on its projections for the rest of the year, including annual revenue between $90M-$96M, which would be a 42% increase from 2022. The company’s top…
Rocket Lab Reports Q1 2023 Earnings
Rocket Lab’s ($RKLB) first quarter revenue exceeded expectations, the company reported on Tuesday’s earnings call. By the numbers: Launch made up 36% of revenue, and space systems comprised 64% this quarter. Investments in Neutron and Photon drove faster cash burn. Looking forward: Rocket Lab projects revenue to jump to $60M-$63M next quarter, with the split…
Virgin Galactic Releases Q1 Results, Details Upcoming Flight
Virgin Galactic ($SPCE) is returning to space after a nearly two-year hiatus. The company provided further details on the upcoming crewed test flight yesterday, along with its Q1 financial results. By the numbers: Virgin Galactic burned through $136M of operating cash in Q1 as it prepares for its first commercial flight and invests heavily in…
SES Announces Better Than Expected Q1 2023 Earnings
SES, a satellite telecommunications network provider from Luxembourg, reported Q1 financial results above market expectations on Thursday. Overall financials: SES’s next system: The company expects to begin commercial service in Q3 of its O3b mPOWER system, a communication satellite network that will serve customers such as Microsoft and Orange. SES launched two O3b mPOWER satellites…
Airbus Reports Q1 2023 Earnings
Airbus reported €11.8B ($13B) in 1Q revenue yesterday, but the company’s defense and space division saw a 21.5% drop in net order intake. The overall numbers: • Free cash flow = €-900M (-$1B) • Revenue = €11.8B ($13B), a slight decrease from last year’s €12B • EBIT Adjusted = €800M ($885M) Breaking out defense &…
Kratos Reports Q1 Results, Sees Space Services Growth
Kratos ($KTOS) is going all-in on space services after growing investment in the division drove strong overall sales growth, the company revealed Wednesday in its Q1 financial results. Overall financials: Breaking out space, satellite and cyber: In the first quarter, Kratos spent $10.2M on R&D, including significant investment in its growing OpenSpace software. OpenSpace is…
Northrop Grumman, L3Harris, and Honeywell Release Q1 2023 Earnings
A slew of prime space companies announced Q1 earnings this week and overall performance was in the green. With increased defense spending and no end in sight for the conflict in Ukraine, companies saw an uptick in space and defense revenue. Northrop Grumman: Northrop’s space systems division saw the biggest year on year revenue increase…
Boeing Still in the Hole
Boeing reported a first quarter loss of $1.27 per share on Wednesday, marking the company’s seventh straight quarter in the red, though this quarter was better than last. Boeing attributed this to 737 MAX production issues, but still announced a plan to increase production from 31 to 38 planes per month. The company did see…
Astroscale Secures ~$44M in Two New Debt Rounds
Astroscale, a Japanese startup designing orbital debris removal and on-orbit servicing technology, announced two debt raises totaling about $44M this week to ensure it has cash on hand in today’s challenging economic conditions. On Tuesday, the company announced that it entered into a loan agreement for ¥3B (~$22M) with Mizuho Bank. Yesterday, Astroscale announced a…
ispace’s Shares Surge in Market Debut, Lunar Landing Date Set
Shares of Japanese startup ispace closed at 1201 yen a pop on Thursday, up 373% on the day. The surge comes just one day after ispace made its Tokyo Stock Exchange Growth Market debut. Ispace IPO: Shares were listed at 254 yen each during the IPO, originally valuing the company at 20B yen ($150M), according…
Astra Announces Q4 and FY2022 Losses
Astra reported significant financial setbacks in FY22, but brought in $9.4M in revenue. The launch company’s engine sales drove income as Rocket 4 nears launch test readiness. Astra’s Q4, by the numbers: Times of trouble: It’s been a tough year for Astra. Last week, the company outlined a plan to prevent Nasdaq from delisting its…
