🚀 $LUNR Shares Crash Land

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The Space Scoop

Week Ended 03.07.2025

Happy Friday! What a week for space and markets. We're sure your heads are spinning as much as ours. Lets get right down to it.

Market Max-Q

Top Stories

1) Fourth quarter and fiscal year 2024 earnings season is coming to a close and this week we had three names reporting, with one surprise guest. 

• $ASTS

  • Cash & Equivalents: $568M

  • Revenue: $4.4M vs. $0 YoY

  • OpEx:  $247M, +11% YoY

  • Gross Capitalized Costs: $460M 

  • Net Loss: $(300)M vs. $(89)M

  • Shares: +12%

• $SPIR

  • Completes restated financials

  • Cash & Equivalents: $367M

  • Revenue: $29M, +29% YoY

  • Net Loss: $(13)M vs. $(23)M

  • Adj. EBITDA: $(3) vs. $(9)M

  • Shares: +1%

• $BKSY

  • Cash & Equivalents: $53.8M

  • Revenue: $102.1M, +8% YoY

  • Net Loss: $(57.0)M vs. $(53.9)M

  • Adj. EBITDA: $11.6M vs. $(1.0)M

  • Shares: -24%

• $MDA

  • Cash & Receivables: $166.7M

  • Revenue: $1.1B, +34% YoY

  • Net Income: $79.4M, +63% YoY

  • Adj. EBITDA: $217.1M, +25% YoY

  • Backlog: $4.4B, +42% YoY

  • Shares: +18%

2) We're feeling under the weather this week so we are going to let some of our favorite sources tell you about the other major news items this week for us. 

• SpaceX's Falcon 9 booster lost after droneship landing

• Firefly's Blue Ghost 1 lands on the south side of the moon

• Intuitive Machines ($LUNR) IM-2 mission's lunar lander was sideways upon touchdown

• Starship Test Flight 8 upper stage destroyed on second consecutive test flight

In Other News

Dynamic Aerostructures Filed for Bankruptcy 

(AW)

The Endeavour Capital-backed company that produces specialized parts for various Primes, SpaceX, and Blue Origin plans to sell itself via Chapter 11 U.S. Code § 363 following a Delaware bankruptcy filing. The company said it has been marketing its assets since May 2024 and aims to secure a successful bidder by mid-April.

Skylo Raises $30M Oversubscribed Funding Round 

(BW)

The startup providing direct-to-device satellite connectivity plans "to drive extreme accessibility of connectivity for cellular devices worldwide." The round was led by NGP Capital, with participation from Westly Group and existing investors Intel Capital, BMW i Ventures, Samsung Catalyst Fund, Next47 and others.

Starcloud Raises $10M Seed Round 

(GW)

Formerly known as Lumen Orbit, the startup is building a network of megawatt-scale data centers in space. The additional funding comes from previous seed investors and several new venture capital firms, which it doesn’t intend to identify until a Series A funding round takes place.

Esper Satellites Raises $3.1M Seed Round 

(PS)

The Australian hyperspectral imaging satellite startup will use the capital to expand its operations and meet an upcoming launch date. Hejaz Financial Services and Paspalis Capital led the round.

Chart of the Week

$LUNR Landing: Intuitive Machines shares took a -40% beating this week following a sideways landing on southernmost lunar landing to date. Risk-off markets in recent weeks likely exacerbated the reaction. Space is hard and investing in space is not for the faint of heart! 

Links

• AST SpaceMobile ($ASTS) and Vodafone ($VOD) Sign Agreement To Create European D2D Satellite Service Provider• Spire ($SPIR) Achieves Two-Way Laser Communication Between Satellites in Space• Rocket Lab ($RKLB) Schedules First of Multiple Launches for iQPS• Redwire ($RDW) Selected by ESA To Design Concept for Mars Spacecraft• BlackSky ($BKSY) Achieves Commercial Earth Observation Industry First by Delivering Gen-3 Very High-Resolution Imagery Five Days From Launch• SatixFy ($SATX) Awarded £1.8M by UK Space Agency for Development of Advanced LEO Payload Software• Planet ($PL) and Anthropic Partner To Use AI Capabilities To Turn Geospatial Satellite Imagery Into Actionable Insights

Opinion

• Space Stock Review: February 2025• Op-Ed: A Trump Presidency Means More Money for Space. So, What Can We Expect?• The Next Space Race Is Here – and Rocket Lab ($RKLB) Is Winning• AST SpaceMobile ($ASTS): Why It’s Worth Taking a Bite• Intuitive Machines ($LUNR): Knocked Over but Not Out

Earnings Calendar

• $RDW: Mar 10 - After Market Close• $186A: Mar 14 - After Market Close• $PL: Mar 20 - After Market Close

*Company confirmed dates only. *186A = Astroscale