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The Space Investor - 🚀 Terran Orbital's $2.4B Win

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The Space Scoop
Week Ended 02.24.2023
Happy Friday! Intuitive Machine shares went for another wild ride this week while Terran Orbital announced a $2.4B contract and Redwire announced a collaboration with Starfish Space. Maxar and EchoStar reported FY 2022 earnings and Vast acquired Launcher. Lets dive in.

Market Max-Q

Top Stories
1) Redwire ($RDW) announced a partnership with Starfish Space to provide their ARGUS space domain awareness camera, Otter Pup, for Starfish's first satellite docking mission.
  • Starfish's mission will demonstrate the first-ever docking of two commercial satellites in low-Earth orbit.
     
  • Redwire also secured a contract option with to demonstrate their Cerebro Resident Space Object tracking software in orbit upon the completion of the primary mission.
     
  • Shares fell -0.8% on the day.
2) Terran Orbital's ($LLAP) subsidiary won a $2.4B contract with Rivada Space Networks to design, build and deploy 288 LEO satellites. 
  • The contract was awarded to the Company's subsidiary, Tyvak Nano-Satellite Systems, who will also develop 12 “spare” satellites bringing the total to 300 spacecraft.
     
  • Rivada Space Networks is a subsidiary of Rivada Networks, a U.S.-based wireless technology company focused on open-access wholesale and the convergence of terrestrial and satellite communications.
     
  • Rivada expects to begin deploying its constellation as early as 2025, with the anticipated launch of four of our satellites. The clock starts ticking now..
     
  • Shares rallied +71.4% on Wednesday and closed the week +50.0% higher.
3) FY 2022 space earnings continued this week with Maxar and EchoStar reporting. Highlights include:
  • $MAXR
    • Cash & Equivalents: $52M
    • Revenues: $1,605M, -9% YoY
    • Net Income: ($150)M vs. $46M YoY
    • Adj. EBITDA: $286M, -33% YoY
    • Shares: Flat
  • $SATS
    • Cash & Equivalents: $1.7B
    • Revenue: $2B, flat YoY
    • Net Income: $167M, +165% YoY
    • Adj. EBITDA: $656M, -9% YoY
    • Subscribers: 1,228,000
    • Shares: +14%

In Other News
Vast Acquires Launcher (Company)
The space habitat company announced the acquisition of Launcher on Tuesday for an undisclosed amount. This provides Vast with "an established set of talent to accelerate in-house advanced manufacturing and development capabilities as well as spacecraft technologies."

Firefly Seeks $300M Raise (SEC)
Per an SEC filing that dated earlier this month, the launch company has currently raised $30.2M of a $300M equity raise from three investors. More to come on this.

Chart of the Week
LUNR's Wild Week: From over +220% higher to finishing the week -37%, Intuitive Machine's de-SPAC IPO spectacle continued in the holiday shortened week.

Links
• Maxar ($MAXR) To Provide Environmental Monitoring for Government of Guyana

• Sidus ($SIDU) Secures Additional Transporter Launches With SpaceX

• Planet ($PL) and ASU Expand Partnership To Build Global Scale Solutions for Sustainability

• Momentus ($MNTS) Vigoride-5 Status Update #3

• Momentus ($MNTS) Provides 2023 Missions Update

• Momentus ($MNTS) Receives $10M Investment

• Maxar ($MAXR) Launches SYNTH3D Digital Twin for Metaverse, Simulation and VR Applications

Opinion
• Predicting SpaceX’s 2023 Revenue

• The Growing Chinese Space Threat

• Trials and Tribulations of Planetary Smallsats

• Iridium ($IRDM): Improving Moat, but Wait for a Pullback

• AST SpaceMobile ($ASTS): Upcoming Catalysts To Drive Share Price Higher

Earnings Calendar
• $RKLB: February 28 - After Market Close
• $SPCE: February 28 - After Market Close
• $BKSY: March 7 - Before Market Open
• $SPIR: March 8 - After Market Close
• $LLAP: March 21 - Before Market Open

*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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