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The Space Investor - 🚀 Q2'22 NewSpace Earnings

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The Space Scoop
Week Ended 08.12.2022
Happy Friday! What happened this week? Earnings. Lets dive into it.

📈 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.

🚀 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

🛰️ In Other News
Benchmark Space Acquiring Alameda Applied Sciences' Technology (Company)
On Monday, Benchmark announced a definitive agreement to acquire AASC’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 (TechCrunch)
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 (Company)
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.

📊 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.

🔗 Links
• AST SpaceMobile’s ($ASTS) Bluewalker 3 Test Satellite Arrives at Cape Canaveral for Upcoming Launch

• Astrocast ($ASTRO) and D-Orbit ($BREZ) Announce Multi-Year Launch and Deployment Contract

• Northrop Grumman ($NOC) Partners with Firefly Aerospace to Develop Antares Rocket Upgrade and New Medium Launch Vehicle

• J-Space Has Contracted Virgin Orbit ($VORB) To Develop a South Korean Launch Site Plan

• Maxar ($MAXR) To Build 14 Spacecraft Platforms for L3Harris ($LHX) as Part of SDA's T1TL Program

• Mynaric ($MYNA), Telesat ($TSAT) and Viasat ($VSAT) Selected For Next Phase of DARPA Program

• FCC Denies SpaceX Bid for Nearly $1B in Rural Starlink Broadband Subsidies

🗣️ Opinion
• Unlike Other Former SPACs, Rocket Lab Is Already Science, Not Fiction

• The Five Space Stocks To Buy on the Dip

• A Single Space Stock Could Soar 10x by December

• Why Today Is a Good-Bad Day for 4 Space Stocks

📅 Earnings Calendar
• $ASTS: August 15 - After Market Close

*Company confirmed dates only.
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Disclaimer: The Space Investor ("TSI") does not provide financial advice. All content is for informational purposes only and is not a solicitation to buy or sell any assets. TSI is not a registered investment, legal, or tax advisor or a broker/dealer.

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