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🚀 Starlink Premium Arrives

February 04, 2022

The Space Scoop

Week Ending 02.04.2022

Happy Friday and a warm welcome to our new readers! Earnings season continued with L3Harris and Viasat reporting while Spire and Redwire released preliminary FY2021 data. OneWeb has partnered with LeoLabs, Rocket Lab is expanding in Colorado and $875M dollars were invested into space ventures. Lets dive in.

Market Max-Q 📈

Legacy Space Earnings Continue

L3Harris ($LHX) Q4 / FY2021:• Revenue fell -6.6% in Q4 due to divestitures within Aviation Systems and supply chain-related constraints within Communication Systems.• Space & Airborne Systems Q4 revenue rose +2.4% with FY2021 rising +3.0%, driven by a ramp on missile defense and other responsive programs.• Received a $49.7M two-year contract to continue work on Space Forces' ATLAS Program.Viasat ($VSAT) Q3'22:• Total revenues of $719.7M, +25.0% YoY• Adj. EBITDA of $162.8M, +10.3% YoY• Sales backlog of $2.1B, -9.6% YoY• Satellite Services segment revenues grew +40.2% to $309.7M on the back of +43.2% growth in new contact awards.• Launch of ViaSat-3 is delayed to "late summer 2022" due to "supplier issues" with the spacecraft.

NewSpace Preliminary Earnings Released

This week Spire and Redwire released preliminary FY2021 financial estimates. While Redwire has yet to release Q3'21 financials since noting of "potential accounting issues at a business sub-unit" on November 5th, is this is a sign that the data may finally be coming?Spire ($SPIR) Estimates:• Q4 revenues of $15.3M, +111% YoY• FY21 revenues of $43.7M, +53% YoY• FY22 revenues of $85-90M• Q4 ARR of $70.8M, +96% YoY• FY22 ARR of $100-105MRedwire ($RDW) Estimates:• FY21 revenue of $135-140M• FY21 contracted backlog of $133-138M• FY21 uncontracted backlog of $136-138M• Re: Q3'21: "To date, there have been no material misstatements identified in the company’s previously filed financial statements. Redwire is working to finalize its third quarter Form 10-Q."

Satellogic Announces Partnership with Palantir

$SATL announced a new five-year partnership with $PLTR to "accelerate the capabilities both companies can provide to customers in the field, combining industry-leading technologies in satellite imaging, Edge AI, and data-driven decisions." Satellogic will leverage Palantir’s Foundry platform and Palantir will have access to Satellogic’s Aleph platform APIs. $SATL shares fell -12.2% while $PLTR rose +3.6% on the news.

SpaceX's Starlink Announces Premium Service

On Wednesday, Starlink opened pre-order for 'Starlink Premium', a $500 per month option focused on businesses and enterprise customers. With deliveries expected to begin in Q2, “Starlink Premium has more than double the antenna capability of Starlink, delivering faster internet speeds and higher throughput for the highest demand users,” the website states. Starlink Premium also offers “unlimited service locations” flexibility capable of connecting from anywhere.

LeoLabs Announces Partnership with OneWeb

The two companies have entered into a multi-year agreement in which LeoLabs will provide LeoLabs Collision Avoidance to support operational flight safety for OneWeb’s spacecraft fleet. OneWeb’s new database will receive real-time data feeds about the locations of other satellites and space debris, to ensure their constellation continues to be deployed in a sustainable manner. With this announcement, LeoLabs' platform is now utilized by the three largest constellations in the world: SpaceX, OneWeb and Planet ($PL).

In Other News 🛰️

Small Spark Space Systems Raises £1.8M Seed Funding

(Company)

The suborbital and orbital launch service startup announced an additional £1.1M investment to their late 2021 seed round and £200K in govt. research funding. The funding was led by Deepbridge Capital.

KBR Selected as Primary Provider of ESA Space Medicine Support

(PR Newsire)

Following two decades of partnership, $KBR was selected to be the primary provider of astronaut medical support services for the European Space Agency's European Astronaut Centre Space Medicine Office for the next 3.5 years.

Google To Invest $1B in Bharti Airtel

(Company)

$GOOGL will invest up to $1B in a partnership with Airtel as part of 'Google for India Digitization Fund'. The deal includes $700M to acquire 1.28% ownership in Airtel and up to $300M toward potential multi-year commercial agreements.

mPower Technology Raises $10M Series B Funding

(Company)

The round was led by Cottonwood Technology Fund, with participation from other undisclosed investors. Funding will help grow the company’s volume manufacturing capabilities and to support continued product evolution and development.

ICEYE Raises $163M Series D Funding

(Company)

The round was led by Seraphim Space ($SSIT) and new strategic investors include BAE Systems ($BAESY) and Kajima Ventures. The capital will be used to grow its Natural Catastrophe solutions offering and further develop its satellite constellation and technology.

Quick Links 🔗

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Viasat’s ($VSAT) Takeover of Inmarsat ‘Not a Step-in-and-Steal Deal’

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GomSpace ($GOMX) Reports Q4’2021 Earnings

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Mynaric ($MYNA) Chosen by the ESA To Work on Data Transmission Speeds

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Turion Space and Nanoavionics To Build Orbital Reconnaissance Satellite

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Blue Origin Shares Video of New Glenn Fairing Separation Test

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Planet Labs ($PL) Officially Certified as a Carbon Neutral Company

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Everything We Know About ArianeGroup’s Maiaspace Startup

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Former NASA Leader Aims To Build Robotic Outpost Near the Moon

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Gilat ($GILT) Announces SkyEdge IV, a Next Generation SATCOM Ground System

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Fleet Space Technologies Announces International Headquarters in Houston

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Rocket Lab ($RKLB) To Expand Colorado Footprint With New Space Systems Complex

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Maxar ($MAXR) Extends Satellite Capacity Agreement With European and Middle East Space Imaging

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Spire Global ($SPIR) Provides Weather Data at Altitude To Support Hypersonic Flight

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Sidus Space ($SIDU) Announces Strategic Partnership With Red Canyon Software

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Arqit ($ARQQ) Signs CRADA With U.S. Air Force To Prove Viability of Government Quantum Encryption

Opinion 🗣️

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Three Aerospace Stocks You Can Buy and Hold for the Next Decade

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Virgin Galactic ($SPCE), and Its Stock, Likely Not Taking Off Anytime Soon

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Three Space Stocks With More Than 40% Upside Potential

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It’s the Dawn of a New Space Age — At Least for Billionaires

Calendar 📅

• $IRDM: February 17 - Before Market Open• $SPCE: February 22 - After Market Close• $RKLB: February 28 - After Market Close

*Company confirmed dates only.

🚀 Starlink Premium Arrives