šŸš€ Q2'22 NewSpace Earnings

šŸš€ Q2'22 NewSpace Earnings

August 12, 2022

The Space Scoop

Week Ended 08.12.2022

Happy Friday! What happened this week? Earnings. Lets dive into it.

šŸ“ˆ Market Max-Q

S&P 500: 4,280.14 +3.3%NASDAQ: 13,047.19 +3.1%UFO: 22.95 +5.9%ROKT: 40.78 +4.6%ARKX: 16.09 +5.0%SSIT: 61.8 -11.7%ASTS: 11.63 +47.0%RKLB: 7.10 +33.0%ASTR: 1.61 +23.9%MNTS: 2.50 +17.4%1W return as of 4:00pm EDT.

šŸš€ Top Stories

1) Q2 2022 NewSpace Earnings were in full swing for the biggest week of reporting, including six Space SPACs.

  • $VSAT

    • Consol. Awards: $783M, +32% YoY

    • Revenue: $678M, +2% YoY

    • Net Income: $(22)M vs. $17M YoY

    • Adj. EBITDA: $132M, -17% YoY

  • $LLAP

    • Cash & Equivalents: $62.3M

    • Revenue: $21.4M, +127% YoY

    • Net Loss: $(32.3)M vs. $(8.9)M YoY

    • Adj. EBITDA: $(14.8)M vs. $(2.5)M YoY

  • $MAXR

    • Cash & Equivalents: $15M

    • Revenue: $438M, -7% YoY

    • Net Loss: $(30)M vs. $45M YoY

    • Adj. EBITDA: $119M, -10% YoY

  • $BKSY

    • Cash & Equivalents: $111.2M

    • Revenue: $15.1M, +105% YoY

    • Oper. Loss: $(21.7)M vs. $(29.8)M YoY

    • Adj. EBITDA: $(8.8)M vs. $(7.6)M YoY

  • $RDW

    • Cash & Equivalents: $10.8M

    • Revenue: $36.7M, +14% YoY

    • Net Loss: $(77.0)M vs. $(15.9)M Yo

    • Adj. EBITDA: $(4.1)M vs. $1.7M YoY

  • $SPIR

    • Cash & Equivalents: $72.5M

    • Revenue: $19.4M, +113% YoY

    • Net Loss: $(40.5)M vs. $(26.9)M YoY

    • Adj. EBITDA: $(7.3)M vs. $(9.4)M YoY

  • $MNTS

    • Cash & Equivalents: $109.0M

    • Revenue: $50K

    • Net Loss: $(22.8)M vs. $64.3M YoY

    • Adj. EBITDA: $(18.3)M vs. $(15.5)M YoY

  • $RKLB

    • Cash & Equivalents: $542.2M

    • Revenue: $55.5M, +392% YoY

    • Net Loss: $(37.4)M vs. $(16.7)M YoY

    • Adj. EBITDA: $(8.5)M vs. $(8.8)M YoY

  • $MDA

    • Backlog: $1.52B, +138% YoY

    • Revenue: $ 154.7M, +22% YoY

    • Net Loss: $(8.8)M vs. $(0.1)M YoY

    • Adj. EBITDA: $34.7M vs. $39.4M YoY  

  • $SIDU

    • Cash & Equivalents: $6.8M

    • Revenue: $1.8M, +695% YoY

    • OpEx: $2.7M, +556% YoY

    • Net Loss: $(2.5)M vs. $(0.5)M YoY

  • $VORB

    • Cash & Equivalents: $122.1M

    • Revenue: $0 ($12M as of 7/1) vs. $1.7M YoY

    • Net Loss: $(33.3)M vs. $(44.6)M YoY  

    • Adj. EBITDA: $(34.4)M vs. $(39.7)M YoY

šŸ›°ļø In Other News

Benchmark Space Acquiring Alameda Applied Sciences' Technology 

On Monday, Benchmark announced a definitive agreement to acquire AASCā€™s electric propulsion technologies to help power hybrid spacecraft designed to ultimately run on in-space resources and repurposed space debris. Terms were undisclosed.

Muon Space Raises $25M Series A Round

The Earth-sensing satellite platform's round was led by Radical Ventures, with participation from Costanoa Ventures, Congruent Ventures, Space Capital and Ubiquity Ventures. The startup's first spacecraft is scheduled for launch in November 2023 on a SpaceX Falcon 9 rideshare mission.

OneWeb and Intelsat Announce Distribution Partnership Agreement 

The two companies plan to offer airlines a seamless inflight connectivity (IFC) solution, which combines LEO and GEO satellite services for a "multi-orbit solution." The service is estimated to begin by 2024.

šŸ“Š Chart of the Week

BryceTech has released their Q2 2022 Briefing and if you weren't sure, SpaceX is still dominating. The company had the most orbital launches, spacecraft launched and spacecraft upmass in the quarter.

šŸ”— Links

ā€¢ AST SpaceMobileā€™s ($ASTS) Bluewalker 3 Test Satellite Arrives at Cape Canaveral for Upcoming Launchā€¢ Astrocast ($ASTRO) and D-Orbit ($BREZ) Announce Multi-Year Launch and Deployment Contractā€¢ Northrop Grumman ($NOC) Partners with Firefly Aerospace to Develop Antares Rocket Upgrade and New Medium Launch Vehicleā€¢ J-Space Has Contracted Virgin Orbit ($VORB) To Develop a South Korean Launch Site Planā€¢ Maxar ($MAXR) To Build 14 Spacecraft Platforms for L3Harris ($LHX) as Part of SDA's T1TL Programā€¢ Mynaric ($MYNA), Telesat ($TSAT) and Viasat ($VSAT) Selected For Next Phase of DARPA Programā€¢ FCC Denies SpaceX Bid for Nearly $1B in Rural Starlink Broadband Subsidies

šŸ—£ļø Opinion

ā€¢ Unlike Other Former SPACs, Rocket Lab Is Already Science, Not Fictionā€¢ The Five Space Stocks To Buy on the Dipā€¢ A Single Space Stock Could Soar 10x by Decemberā€¢ Why Today Is a Good-Bad Day for 4 Space Stocks

šŸ“… Earnings Calendar

ā€¢ $ASTS: August 15 - After Market Close

*Company confirmed dates only.