As several companies battled with supply chain delays, space stocks had a difficult first quarter

The global supply chain is still sputtering and breaking down two years into the outbreak. Every day, there are reports of misplaced shipping containers, record freight rates, congested ports, and other issues that cause inconvenience and defy simple solutions.

Many CEOs have complained about supply chain difficulties delaying hardware deliveries and launch dates as the first quarter of the year has come to a close. “Everyone seems to be running late.  “I haven’t received from a single satellite provider in the previous 12 months – if they’re new entrants or long-standing operators – everyone’s form of getting pushed to the right a bit, largely for the same reasons… supply chain concerns and whatnot,” Telesat CEO Dan Goldberg stated during the company’s earnings conference call.

Despite the industry’s expansion, many space firms went public through SPAC offerings last year, although most of the stocks are failing. Space equities have been pushed down by the changing market climate, which has seen rising interest rates hurt technology and growth firms. Since their initial public offering, the stock prices of nearly a dozen space companies have dropped by 50% or more.

The most recent quarterly reports’ summaries are listed below.

46% – BlackSky.

BlackSky reported $13.9 million in revenue and a $9.5 million adjusted EBITDA loss during the first quarter, rising 91 percent and 53 percent, respectively, over the same period a year ago. BlackSky has a cash reserve of $138 million.

11% – Iridium

In the first quarter, Iridium brought in $168.2 million in revenue, $103.2 million in operational EBITDA profit, and 1.8 million total customers, increasing 15%, 17%, as well as 15%, respectively, from the previous year.

12 %, Aerojet Rocketdyne

The firm’s adjusted EBITDA profit for the quarter increased 18% year on year to $69 million, with a $6.4 billion backlog in multi-year contracts.

5% – AST SpaceMobile

In the first quarter, the satellite-to-smartphone broadband startup generated only $2.4 million in sales, with slightly higher operating expenses of $32.7 million relative to the previous quarter. The business has a cash balance of $255 million.

1% – Maxar

The satellite imagery and space infrastructure firm announced revenue of $405 million during the first quarter, up slightly from the previous year, and an adjusted EBITDA profit of about $84 million, up 25%. The order backlog at Maxar dropped 14% to $1.6 billion in the 4th quarter.

66% – Astra

Astra announced a first-quarter adjusted EBITDA loss of $47.5 million, up 32% from the previous quarter. The corporation earned $3.9 million in revenue and has a cash balance of $255 million.

 

Established defense heavyweights, tightly focused start-ups, corporations building stuff in the skies, and companies carrying those goods into orbit are all options for space investors. The possibilities are as limitless as the sky. By 2040, Morgan Stanley estimates that the global space sector will be worth $1 trillion.

Leave a Reply

Your email address will not be published. Required fields are marked *