The Space Investor - 🚀 Starship's $2 Billion Cost

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• $AJRD (Q1'23)
  • Cash & Equivalents: $272.5M
  • Net Sales: $566.3M, +11% YoY
  • Net Income: $27.8M, flat YoY
  • Adj. EBITDAP: $58.7M, -15% YoY
  • Shares: -0.1%
     
• $SATX (FY'22)
  • Cash & Equivalents: $31.5M
  • Revenue: $10.6M, -51% YoY
  • Oper. Loss: $(22.3)M vs. $(10.6)M
  • Net Loss: $(397.8)M vs. $(17.0)M
  • Shares: -1.7%
     
• $GSAT (Q1'23)
  • Cash & Equivalents: $20.5M
  • Revenue: $58.6M, +79% YoY
  • Net Loss: $(3.5)M vs. $(20.5)M
  • Adj. EBITDA: $32.6M, +216% YoY
  • Shares: +6.5%

• The middle-market investment bank said the stock has been "underappreciated" thus far in 2023, underperforming major indices along with peers, and issued a price target of $5.5 per share.
   
• Analyst Trevor Walsh states: “We like Planet for several reasons:
  • 1) fleet of over 200 satellites which form the infrastructure for a scalable, one-to-many, software-like business model;
  • 2) robust imagery archives that create a technical competitive moat;
  • 3) still nascent in its growth trajectory;
  • 4) diversified revenues across both commercial and government, with new verticals gaining traction; and
  • 5) large and expanding market opportunity, nurtured in part by a passionate customer base and partner ecosystem.”

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