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The Space Investor - 🚀 Carnival Goes 100% Starlink

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The Space Scoop
Week Ended 05.17.2024
Happy Friday! Four space SPACs reported earnings this week, Starlink and Carnival Cruise's partnership is flourishing, and AST SpaceMobile shares ripped higher. Lets dive in.


Housekeeping: We are starting some backend changes this week and will also soon be out of the country so there will be no newsletter during the next two weeks. Look for us back in your inboxes on June 7th. See you soon!

Market Max-Q
Forward Forward

Top Stories
1) Carnival Cruise ($CCL) announced it has equipped 100% of cruise ships with Starlink.
  • The installation to the company's 90+ ship fleet follows "a surge in guest satisfaction and positive feedback from the super-fast and reliable Wi-Fi service onboard," which began via an initial test phase in December 2022.
     
  • "Starlink has been a game-changer for the onboard connectivity experience our cruise lines deliver to their guests" said the CEO of Carnival.

2) Q1 2024 space earnings season is nearing an end as four SPACs reported this week. Highlights include:
  • $LUNR
    • Cash & Equivalents: $55M
    • Revenue: $73M, +301% YoY
    • Oper. Loss: $(5)M vs $(14)M
    • Adj. EBITDA: $(1)M vs. $(14)M
    • Shares: -6%
       
  • $LLAP
    • Cash & Equivalents: $44M
    • Revenue: $27M, -3% YoY
    • Net Loss: $(53)M vs. $(54)M YoY
    • Adj. EBITDA: $(28)M vs. $(23)M
    • Shares: -14%
       
  • $SPIR
    • Cash & Equivalents: $76M
    • Revenue: $26M, +6% YoY
    • Net Loss: $(25)M vs. $(18)M
    • Adj. EBITDA: $(1) vs. $(7)M
    • Shares: -13%
       
  • $ASTS
    • Cash & Equivalents: $212M
    • Revenue: $500k vs. $0 YoY
    • OpEx:  $56M, +26% YoY
    • Net Loss: $(20)M vs. $(16)M
    • Shares: +69%

Chart of the Week
AST SpaceMobile Soars: Shares traded +101% this week, closing at $4.54 per share, following Q1 2024 earnings release and an announcement of a six-year agreement with AT&T “to provide a space-based broadband network direct to everyday cell phones.” (Source)

Links
• Redwire ($RDW) Announces Development of New VLEO Spacecraft Platform ‘Phantom’

• Terran Orbital ($LLAP) Is Awarded Subcontract by Lockheed Martin for SDA’s T2TL

• Sidus ($SIDU) Begins Payload Activation Upon Successful Completion of Commissioning Phase of LizzieSat-1

• Northrop Grumman ($NOC) Increases Quarterly Dividend 10%

• EchoStar ($SATS) Awarded US Navy Wireless & Telecom Contract with the Dept of Defense and Federal Agencies

• DISH TV and Hughes ($SATS) Debut Bundled Service Offering To Enhance Rural Connectivity

Opinion
• Virgin Galactic ($SPCE): The Guidance Looks Better Than Expected

• Rocket Lab ($RKLB): Significant Progress on Multiple Fronts

• What Is Going On with Mynaric ($MYNA)?

Earnings Calendar
• $SIDU: May 20 - After Market Close
• $VSAT: May 20 - After Market Close
• $PL: June 6 - 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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