Finance

Lockheed Martin on Thursday said it has agreed to acquire satellite manufacturer Terran Orbital in a $450 million deal based on enterprise value, a bargain versus the $606 million unsolicited proposal the aerospace and defense giant made in March. Announcement of deal follows Terran’s disclosure on Monday that it has removed from its backlog more than...

Redwire Corp. on Wednesday evening said it has agreed to acquire Hera Systems in a deal that will add additional spacecraft options to its portfolio, including satellites for Geostationary Orbit (GEO). Terms of the deal, which is expected to close in the third quarter, were not disclosed. Redwire said Hera generated $15 million in sales in...

Telesat reported a 15% drop in revenue in the second quarter of 2024 as the operator ramps up capital expenditures for the Lightspeed constellation and works to finalize funding agreements with Canadian governments.  Canadian satellite operator Telesat reported its second quarter financial results on August 14, reporting $152 million Canadian dollars ($111 million)  in revenue.  ...

Terran Orbital’s revenue decreased nearly 6% in the second quarter of 2024 as the company’s supply of cash dwindles.  The satellite manufacturer filed its 10-Q with the Securities and Exchange Commission (SEC) on August 12, but did not publish a press release or hold a call with investors.  Revenue in the second quarter was $30.3...

Eutelsat Group is in exclusive talks with a private equity firm to sell the majority of its ground network in order to form a new ground station as a service company.           Eutelsat first said it was considering such a sale in May. The operator announced Aug. 9 that it entered into an exclusive agreement with...

Eutelsat Group grew operating revenue by 5.9% year-over-year in the operator’s first full year with OneWeb as part of the business, despite a slower-than-expected rollout of OneWeb service.  Overall, Eutelsat reported 1.2 billion euros ($1.3 billion) in revenue in fiscal year 2023-24, announced August 9.  Adjusted EBITDA of 719 million euros ($785 million) was down...

BlackSky Technology grew revenue by 29% year-over-year in the second quarter of 2024 as the satellite imagery company executed on multiple international contracts. The company reported its Q2 financial results on Aug. 8, reporting $24.9 million of revenue during the quarter.  The company continues to narrow its net loss, reporting a $9.4 million net loss...

MDA Space saw a double-digit revenue increase in the second quarter of 2024 with growth in the company’s robotics and satellite businesses. The company reported its financials on Thursday, raising revenue guidance for the year.  MDA Space on Thursday reported revenue of $242 million Canadian dollars ($176 million) in the second quarter, up 23% year-over-year....

Japanese rocket launcher in development Interstellar Technologies raised 3.1 billion yen ($21 million) in a Series E funding round announced Aug. 5.  New investors SBI GROUP and NTT DOCOMO invested in the round, alongside financing from Resona Bank. This brings Interstellar’s total funding to 17 billion yen ($120 million). The company said it plans to...

Viasat’s shares were up more than 30% on Thursday after the satellite operator performed better than expected in the first quarter of fiscal year 2025 and slightly raised the low end of its guidance for the year.  Viasat reported Q1 fiscal year 2025 results on Aug. 7, reporting $1.1 billion in revenue. This was an...