Stories about space companies’ finances, including earnings reports and M&A news.
Image: Niall David/Momentus Even if most of us may not want to think about financial markets right now, earnings season is in full swing. Let’s run through four results from this week, bucketed into two categories. Space transportation Momentus ($MNTS) reported $0 in Q1 revenue on Monday and a $26M net loss. There’s a lot […]
Satellogic (NASDAQ:SATL) has signed a multiple launch agreement (MLA) with SpaceX covering the deployment of 68 new Earth observation (EO) satellites. The freshly inked MLA succeeds Satellogic’s current one covering 2022 SpaceX launches. On April 1, SpaceX launched five Satellogic satellites to a sun-synchronous orbit on the Transporter-4 rideshare mission. Satellogic says the launch deals […]
Image: Boeing Space Yesterday, Boeing (NYSE:BA) and General Dynamics (NYSE:GD) reported Q1 earnings, while Northrop Grumman’s (NYSE:NOC) results crossed the wire this morning. Space highlights below. $BA Total revenue was $13.9B, down 8.1% YoY. Boeing Defense, Space, & Security (DSS) revenue was $5.4B (-23.7% YoY) DSS recorded a net loss of $929M vs. $405M last […]
ARK Space Exploration & Innovation (ARKX) is an ETF managed by the eponymous, iconoclastic, and currently down-bad NYC fund manager ARK Invest. The space ETF launched at the end of last March, so it just recently celebrated its first bday. Time for a check in… At the end of Q1, ARKX’s assets under management stood […]
Yesterday, Lockheed Martin (NYSE:LMT) and Iridium (NASDAQ:IRDM) reported Q1 2022 financial results. To set the scene, Lockheed has a $122.6B market cap and is up 29.4% this year. Iridium is at a $5.4B market cap and up 3.3% YTD. $LMT LM Space recorded $2.6B in Q1 revenue, a 15% annual drop. The defense contractor attributed […]
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 […]
