Equities
Stories about space companies’ finances, including earnings reports and M&A news.
Satellogic Gives Q3 Update
Satellogic ($SATL) expects 2022 revenue to be in the $6M–$8M range, the EO satellite operator said in a Thursday business update. In H1 ‘22, “Satellogic took the most significant steps in our history towards realizing our mission, beginning to fully commercialize low Earth Observation,” chief executive Emiliano Kargieman said. By the numbers The highlights: Satellogic…
Planet Reports Record Q3 Earnings
Yesterday, Planet ($PL) reported nearly Q3 revenue and projected an annual haul of nearly $200M. The results speak to “strong execution across the company and the mission-critical nature of our data,” CEO Will Marshall said. To start… …the self-described “Bloomberg terminal for Earth data” would point you to its scale. Planet is currently flying ~200…
SatixFy Completes SPAC Merger
SatixFy completed its SPAC merger with Endurance Acquisition Corp ($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 $SATX. SatixFy 101 The company is a fabless chipmaker and developer…
A Closer Look at Credit Suisse’s Space Coverage Initiation
Last week, we took a look at Credit Suisse’s initiation of aerospace & defense (A&D) industry coverage. In complementary equity commentary published earlier this month and seen by Payload, analysts break down their generally bearish position on the aerospace sector. As a refresher… …here’s one quote from Credit Suisse we published on Friday: “The space…
Credit Suisse Initiates Aerospace & Defense (A&D) Coverage
Credit Suisse has initiated coverage of the aerospace & defense (A&D) industry. In an analyst note issued on Oct. 11 and seen by Payload, the bank writes that the two should not be viewed in the same light, and that “A” and “D” are a zero-sum game. “From 1940 to 2017, these two sectors worked…
Intuitive Machines Announces Plans to Go Public
Space SPACs…are still alive! Houston-headquartered Intuitive Machines said today that it intends to go public, by merging early next year with Inflection Point Acquisition Corp ($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…
iPhone 14 to Get Satellite Capabilities for SOS Feature
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, SPAC Slash Post-Deal Valuation
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…
BlackSky ($BKSY) CEO: “Strong Momentum Across All Aspects of Our Business”
Last week, BlackSky reported Q2 financial results. The satellite operator beat expectations on top- and bottom-line earnings, riding on the back of key contract wins and a big new integration. “We have strong momentum across all aspects of our business,” BlackSky CEO Brian O’Toole told Payload in an interview. Q2 results at a glance Revenue…
Rocket Lab Reports Q2 2022 Earnings
Rocket Lab ($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 Releases Q2 2022 Earnings
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 $224.1M, up 200% since the end of last year but…
Maxar ($MAXR) Releases Q2 2022 Earnings
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) Reports Q2 2022 Results
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…
