Stories about space companies’ finances, including earnings reports and M&A news.
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 ($IPAX). Assuming the two can take the transaction to the finish line, upon de-SPAC, the lunar lander startup will be listed on the Nasdaq. Key #s The transaction will generate […]
Apple unveiled the iPhone 14 on Wednesday and it turns out the rumors were true. The Cupertino consumer device giant will add satellite connectivity into the next generation of its best-selling product. As one satellite industry executive put it to us, “this was the worst kept secret in the industry.” Now, the cat is out of […]
SatixFy is bucking the trend and staying the course. SatixFy 101 The Israeli startup is a fabless chipmaker and developer of electronically steered antennas. Its portfolio consists of “end-to-end” products, ranging from satellite payloads to end-user terminals. SatixFy recently unveiled Onyx Aero, a terminal for commercial airliners and large corporate jets that can connect to […]
Last week, BlackSky reported Q2 financial results. The satellite operator beat expectations on top- and bottom-line earnings, riding on the back of key contract wins and a big new integration. “We have strong momentum across all aspects of our business,” BlackSky CEO Brian O’Toole told Payload in an interview. Q2 results at a glance Revenue […]
Rocket Lab ($RKLB) reported earnings at market close on Thursday. The New Zealand-based launch company recorded a quarterly record revenue of $55.5M, up 392% YoY. Key Rocket Lab Q2 2022 #s Adj. EBITDA = -$8.5M Cash & cash equivalents = $542.5M Backlog = $531.4M Net loss = $37.4M Revenue By Segment Space Systems = $36.4M […]
Terran Orbital’s ticker is $LLAP, which stands for “live long and prosper.” And that rules. Anyways, the satellite manufacturer reported $21.4M in Q2 revenue, a 127% jump YoY, and ended the quarter with $62.3M cash on hand. The company also announced a record backlog of $224.1M, up 200% since the end of last year but […]
Maxar booked $438M in revenue this quarter, down 7.3% YoY. Earth Intelligence revenue increased slightly YoY, while Space Infrastructure fell ~10% YoY. The EO mainstay noted that sales within its Space Infrastructure segment dipped (or dove) by $36M, enough to put Maxar in the red. The company’s quarterly operating loss was $30M (vs. $45M YoY). […]
Redwire ($RDW) reported Q2 2022 results before the market opened on Wednesday. The Jacksonville, FL-based space infrastructure company reported quarterly revenues of $36.7M (+14.2% YoY). Quick refresher: Commercial space powerbroker AE Industrial Partners hatched Redwire in late 2020 by merging Adcole Space and Deep Space Systems. Shortly thereafter, Redwire acquired Made in Space. The company […]
Viasat ($VSAT) kicked off another busy week of space earnings after the bell Monday. The satellite operator reported Q1 FY23 revenues of $678M (+2% YoY), with a GAAP net loss of $22M (vs. $17M of net income last year). Viasat reported total consolidated awards of $783M (+32%YoY) for the quarter, good for a book-to-bill ratio […]
Earnings season is fully upon us, with companies from both sides of the launch and satcom aisle releasing results last week. The SPAC side of last week’s reporting left much to be desired, as companies adjust to a harsh macroenvironment, program delays, and shortening runways. Starting with the launch SPACs… $ASTR: Astra won’t launch again […]
Consolidation is the order of the day in the legacy satellite world. The latest: Luxembourg-based SES and American satellite operator Intelsat are in talks to tie the knot, the FT reports. The GEO operators are long-standing competitors, and in recent memory, duked it out in bankruptcy court. Is it time to let bygones be bygones? […]
On Monday morning, El Segundo, CA-based Aerojet Rocketdyne ($AJRD) reported Q2 net income of $16.4M. Aerojet develops liquid- and solid-fueled propulsion products for major space players and missile makers. The propulsion provider missed on top- and bottom-line expectations, with quarterly earnings coming in at $0.20 per share (vs. $0.47 est. and -66% YoY). The company […]
