Astra Space Q2 2022
August 5, 2022
In its 2Q 2022 financial results, launch service provider Astra Space reported:
- The big news was that the company was terminating its Space Launch System 1.0 (including the Rocket 3.3 iteration) after two NASA launch failures and that it was moving to the next version of its launch system.
- The discontinuation of Launch System 1.0. cost Astra $10.2 million of inventory write-downs during the quarter.
- Astra reported revenues of $2.7 million, with $2 million from launch services and $.7 million from space products, (essentially, the Astra Spacecraft Engine which was acquired from Apollo Fusion).
- Orders for the Astra engine were up 69% during Q2 compared to Q1, and Astra said it had 103 committed orders at the end of the second quarter.
- Adjusted net loss for the quarter was $53 million. Cost of revenues was $17.4 million, including $4.1 million for the cost of launch services and space products and $13.3 million of total inventory write-downs.
- Astra ends the quarter with cash and cash equivalents and marketable securities of $200 million and no debt.