Finance

The founders of Astra Space are taking the company private to avoid bankruptcy, less than three years after going public during the SPAC boom of 2021. Astra announced March 7 that co-founders CEO Chris Kemp and CTO Dr. Adam London, are taking the company private to acquire all shares of Astra stock not already owned...

Slingshot Aerospace is coming to the United Kingdom and establishing a U.K. base to help win business with international government and commercial customers. Melissa Quinn will be the general manager of its international business. Quinn had been general manager of Slingshot Seradata, but is now taking on a more expanded role. The company announced these...

Spire Global had a strong 2023 full year financial performance, achieving positive cash flow from operations in the fourth quarter, and full year revenue growth of 32% compared to 2022. Spire reported its full year 2023 results on March 6.  Spire reported $105.7 million in revenue in 2023, in line with guidance. The company has...

Thales Alenia Space reported a dip in demand for commercial telecommunication satellite orders in 2023, and is shifting part of its workforce to respond to the change. Thales announced the move in its 2023 full year results on March 5. Thales plans to redeploy 1,300 positions — 1,000 of which are located in France —...

Lockheed Martin made an offer to acquire Terran Orbital on Friday, and Terran Orbital responded by adopting a limited duration stockholder rights plan, which is also known as a “poison pill.”   According to SEC filings, Lockheed Martin submitted a proposal on March 1 to acquire satellite manufacturer Terran Orbital for $1 in cash for each...

Iridium is acquiring longtime partner Satelles for its alternative positioning, navigation, and timing (PNT) service. Iridium plans to use Satelles Satellite Time and Location (STL) service to provide a backup for GNSS/GPS. This the company’s first-ever acquisition, full integration is expected to begin April 1.  Iridium reported a growing need for delivering PNT information that...

In EchoStar Corporation’s first financial results after merging with Dish Network, the company disclosed that it has “substantial doubt about its ability to continue” without additional funds.  According to EchoStar’s 10-K filing, the company does not have enough cash on hand and/or projected future cash flows to fund a November 2024 debt maturity and subsequent...

SES passed the 2 billion euros mark for overall revenues in 2023. This was one of the highlights of its 2023 full year results, issued Feb. 29. SES achieved revenues of 2.03 billion euros ($2.2 billion), ahead of forecast, and slightly more than its overall revenues in 2022. Video revenues continue to fall as the...

Canadian satellite manufacturer MDA reported a strong 2023 financial year driven by the company’s constellation contract, growing revenue 26% year-over-year. MDA reported full year 2023 financial results on Feb. 28.  2023 full year revenue for MDA was 807.6 million Canadian dollars ($595 million), compared to CA$641 million in 2022.  MDA has three business divisions —...

BlackSky Technology closed out the 2023 fiscal year with record high revenues, new international customers, and a growing demand for the future. The company reported 2023 financials on Wednesday. BlackSky’s total revenue for 2023 was $94.5 million, up $29.1 million, or 45%, from 2022. The company saw a 38% year-over-year growth increase in high-margin imagery...