The Space Investor - 🚀 Starship's Debut

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• The highly cheered and inspiring launch attempt unfortunately ended with a bang, or RUD aka rapid unscheduled disassembly. Fancy words for "blew up" but either way it was an amazing achievement for the team.
   
• We can't wait to see what SpaceX learns from the launch data and when Starship stacks up for attempt #2, which could be in 1 -2 months per Elon.

• $LMT Space Segment
  • Net Sales: $2,959M, +16% YoY
  • Oper. Profit: $280M, +13% YoY
  • Oper. Margin: 9.5% vs 9.7% YoY
  • ULA Equity Earnings: $(45)M
  • Shares: -1.3%
     
• $IRDM
  • Revenue: $205.3M, +47% YoY
  • Net Income: $9.8M, +250% YoY
  • Oper. EBITDA: $111.9M, +8% YoY
  • Billable Subs: 2.051M, +15% YoY
  • Shares: +10.9%

• Dan Hart joined CNBC host Morgan Brennan on Wednesday to discuss the Company's bankruptcy in what is his first appearance since filing for Chapter 11 on April 4th.
   
• When asked could bankruptcy been prevented, Dan responded: "The issues that we had we timed the SPAC transaction in a time when it was waning and our runway was shorted than we needed, in a market that was very, very much retrenching. In terms of operations, we had issues moving from development into scaling and production, something that often happens in aerospace."
   
• When asked for insight regarding the Matthew Brown last minute funding situation: "I can't comment. We did have discussions with a number of investors of the weeks and months preceding the [bankruptcy] filing."
   
• With final bids to buy the company due on May 14th, Dan noted that "We'll have to see how everybody looks at the business. I'm optimistic that we'll find a partner who wants to take us forward and continue our strategy and merge it with their strategy."
   
• When asked would you sell the company in pieces, Dan confirmed: "My preference is for the former. We have unique IP across engines, airplanes and infrastructure, and test stands. I think were most valuable as an integrated enterprise."

• As expected, the data confirms "a significant overall slowdown in space investment activity," which is fairly in line with other technology sectors and also general markets.
   
• Venture funding overall fell by more than -50% YoY to $76B globally and $37B in the US, the lowest in 13 quarters, with Space companies receiving $1.3B in investment across 68 rounds in Q1.
   
• With just $2.2B invested in Q1, the data shows a -53% decrease from the prior quarter and accounts for the lowest quarter for space investment since 2015.

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