Terran Orbital Q2 2022

In Q2 2022, small satellite manufacturer Terran Orbital reported:

• Record revenue of $21.4 million, a 127% increase compared to the second quarter of 2021.
• Net loss was $32.3 million, compared to a net loss of $8.9 million for the same period in the prior year.
• An increase in general expenses. These expenses were $29.4 million in the second quarter of 2022, compared to $12.5 million in the same period in the prior year. The increase was primarily due to an increase in share-based compensation expense as a result of the SPAC merger, an increase in research and development expense, increases in corporate salaries and wages, facility costs related to capacity expansions, and other operating costs.
• Terran Orbital ended quarter with $62.3 million of cash and cash equivalents.
• Backlog of $224.1 million as of June 30, 2022 — up 200% since December 31, 2021.