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The Space Investor - 🚀 ASTS Makes History

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The Space Scoop
Week Ended 04.28.2023
Happy Friday! Q1 Space earnings kicked off this week and next month's calendar is filling up nicely, with plenty of Space SPACs announcing their reporting dates. Lets dive in.

Market Max-Q

Top Stories
1) Q1 2023 Space Earnings kicked off with Primes this week. Highlights include:
  • $BA Defense, Space & Security:
    • Revenue: $6,539M, +19% YoY
    • Oper. Loss: $(212)M vs. $(929)M
    • Oper. Margin: (3.2)% vs. (16.9)%
    • Shares: +0.4%
       
  • $GD Aerospace:
    • Revenue: $1,892M, -1% YoY
    • Oper. Earnings: $229M, -6% YoY
    • Oper. Margin: 12.1% vs. 12.8%
    • Total Backlog: $19,337M
    • Shares: -3.6%
       
  • $NOC Space Systems:
    • Revenue: $3,350M, +17% YoY
    • Oper. Income: $313M, +20% YoY
    • Oper. Margin: 9.3% vs. 9.1%
    • Shares: -8.1%
       
  • $HON Aerospace:
    • Revenue: $3,111M, +13% YoY
    • Gross Profit: $827M, +10% YoY
    • Oper. Margin: 26.6% vs. 27.4%
    • Shares: +4.0%
       
  • $SATL
    • Cash & Equivalents: $76.5M
    • Revenue: $6.0M, +42% YoY
    • Net Loss: $(36.6)M vs. $(96.3)M
    • Adj. EBITDA: $(56.0)M vs. $(31.8)M
    • Shares: +3.6%
2) AST SpaceMobile ($ASTS) completed their first ever space-based voice call using everyday smartphones.
  • Making history, ASTS announced success of the first two-way voice call using the BlueWalker 3 satellite, demonstrating a significant advancement in AST's mission to provide global connectivity.
     
  • The call was made from the Midland, TX area to Rakuten ($RKUNY) in Japan over AT&T ($T) spectrum using a Samsung Galaxy S22 smartphone.
     
  • "While we take a moment to celebrate this tremendous accomplishment, we remain focused on the path ahead and pivotal next steps that get us closer to our goal of transforming the way the world connects,” said Abel Avellan, Chairman and CEO of AST SpaceMobile.

In Other News
Astroscale Secures ¥3B Loan with Mizuho Bank (Company)
The Company entered into a loan agreement with Mizuho Bank to provide additional financial support for current and future projects to accelerate business development efforts. This deal brings the cumulative debt raised by Astroscale to ¥11B (~$83M).

Mynaric Raises €80.6M Debt/Equity Financing (Company)
$MYNA raised the capital to refinance existing debt and support further growth. Under the arrangement, the Lenders will provide €68.2M via a secured five-year term loan facility and two affiliates will acquire an equity stake of ~9.1% worth €12.4M.

Chart of the Week
April Performance: Planet ($PL) led the group at +12.1%, while Virgin Orbit ($VORBQ) fell -58.8% due its bankruptcy proceedings.

Links
• Sidus ($SIDU) Signs MOU With SkyServe for Real-Time Onboard Analytics

• BlackSky ($BKSY) Reseller Telespazio To Provide Spain High-Cadence, Low-Latency Imagery Service for Disaster Response

• Sidus ($SIDU) Closes $11.2M Public Offering

• Virgin Galactic ($SPCE) Announces Changes to Board of Directors

• Virgin Galactic ($SPCE) Completes Glide Flight From Spaceport America

• Terran Orbital ($LLAP) Receives Undisclosed “Milestone” Payment for $2.4B Contract With Rivada Space Networks

• Astra ($ASTR) Announces Spacecraft Engine Contract With Apex

• Exo-Space Hardware Delivered to Sidus ($SIDU) for Integration and Testing

Opinion
• SPACs Delivered Easy Money, but Now Companies Are Running Out

• Starship Enterprise: The Economics of Elon Musk’s Bold Bet

• Planet Labs ($PL): Profitability in Sight

• Terran Orbital ($LLAP): Shares Are Undervalued

• AST SpaceMobile ($ASTS) Screams ‘Watson, I’m Calling You From Space’

Earnings Calendar
• $RKLB: May 9 - After Market Close
• $SPCE: May 9 - After Market Close
• $BKSY: May 10 - Before Market Open
• $SPIR: May 10 - After Market Close
• $LUNR: May 10 - After Market Close
• $MDA: May 12 - Before Market Open
• $ASTS: May 15 - After Market Close
• $ASTR: May 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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