Astra Posts First Financial Report Since Going Public

Astra’s December 15, 2020 rocket launch. Photo: Astra

Smallsat launcher Astra reported its first set of financial results since going public through a special purpose acquisition company (SPAC) merger on July 1. 

The company released its second-quarter 2021 results on Thursday. Astra reported a GAAP net loss of $31.3 in the second quarter, and spent $10.5 million on R&D expenses, $18 million on general and administrative expenses, and $1.1 million on sales and marketing during the three-month period.

Astra also released its financial guidance for its third quarter . The launcher expects: Adjusted EBITDA between $32  million and $35.0 million; depreciation and amortization between $1.0 million and $1.3 million; and capital expenditures between $10.0 million and $15.0 million by the end of the three-month period on September 30.

Astra is preparing for its first commercial orbital launch with the U.S. Space Force as a customer, with a launch window opening Aug. 27. Space Force contracted the launch through the Defense Innovation Unit’s Other Transaction Agreement with Astra. Space Force will be launching a test payload for the Space Test Program (STP-27AD1). Astra is under contract to perform a second launch later this year. 

The company also recently announced a multi-launch contract with Spire Global. The companies plan to begin launches in the spring, but did not disclose more specific contract details.

“Completing the Holicity merger and PIPE investment led by BlackRock added $464 million to our balance sheet and puts us in a strong cash position as we continue our progress towards daily rocket launches,” said CFO Kelyn Brannon. “Our team overcame many obstacles to arrive at this most exciting chapter in Astra’s quest to deliver low-cost, rapid access to space.”