The Space Investor - 🚀 SpaceX Acquires Pioneer Aero

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• Via Florida bankruptcy court, SpaceX has acquired its supplier of drogue parachutes for the Company's Dragon capsules. The acquisition was approved by a judge on November 22.
   
• This is SpaceX’s first public acquisition since 2021 when the company acquired small satellite provider Swarm for $524M in a mostly stock deal.

• "In 2023, SpaceX is launching a rocket roughly every four days.Despite demonstrating the capability and robustness of reusable rockets back in 2017, ARK believes SpaceX has no competitor capable of rocket reusability. . . SpaceX has the most aggressive and advanced technological roadmaps for rocket, satellite, and interplanetary development underway today." 
   
• "The largest near-term opportunity is the Starlink satellite constellation designed to deliver global internet access. SpaceX has already deployed 1,000s of Starlink satellites into orbit . . .and offering broadband service to the underserved in the US could represent an addressable market of roughly $10B per year. Globally, there are billions of individuals who lack consistent internet access."
   
• "We believe that the satellite connectivity market could approach $100B annually over the medium term, and Starlink is well-placed to win the lion’s share given their unique positioning."
   
• "If Starship is successful in achieving rapid reusability, ARK’s research suggests there should be a $270B annual revenue opportunity for point-to-point transportation."

• Cash & Equivalents: $6.2M
• Revenue: $8.9M, +31% YoY
• R&D: $25.1M, +89% YoY
• Oper Loss: $(28.1)M vs. $(16.8)M
• Shares: +1.7%

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