Finance

Terran Orbital cut its revenue guidance for 2023 nearly in half as Rivada Space Networks has not made a milestone payment for its constellation deal.  Terran Orbital announced its third quarter results on Tuesday, cutting its revenue guidance for 2023 from $250 million to “in excess” of $130 million. Rivada was expected to make milestone...

Intelsat has hired Raytheon Technologies exec David J. Broadbent as its new president of Government Solutions. Intelsat announced the hire on Nov. 13, effective immediately.  Broadbent is now responsible for Intelsat’s global government business. Government Solutions is the new name for Intelsat General, the company’s government business, an Intelsat spokesperson confirmed to Via Satellite. Broadbent...

Hamid Akhavan is now CEO of Dish Network ahead of the EchoStar/Dish merger close, the company announced Monday. Akhavan is currently the CEO of EchoStar, and it was already in the works for him to lead the combined company when the merger ended. According to the Nov. 13 announcement, he will take the helm at...

Spire Global posted a 34% year-over-year increase in revenue in the third quarter of 2023 and raised the low end of its guidance for the full year. Spire announced its Q3 results on Nov. 8.  Third quarter revenue was a record $27.3 million, which exceeded the top end of Spire’s expectations by $300,000. The company...

Avanti Communications is revamping its strategy to become more of a multi-orbit operator for the first time. The company is in talks with a leading Low-Earth Orbit (LEO) operator to procure capacity and will also be investing heavily in its managed services capabilities. Avanti announced this new strategic repositioning on Nov. 10. The company intends...

As Viasat is dealing with the fallout of the anomaly on ViaSat-3, the operator is focusing its energy toward its mobility business versus residential broadband. With this shift, Viasat is also scrapping plans for ViaSat-4 and writing down the cost of investment.  With the impairment on ViaSat-3, a total loss on Inmarsat-6 F2, and the...

Rocket Lab reported a 7% year-over-year revenue increase in the third quarter of 2023, posting $67.7 million in revenue. Net loss was $40.6 million.  Revenue of $67.7 million was near the high-end of Rocket Lab’s prior revised guidance of $66 million to $68 million. Sequentially, revenue increased 9%, primarily due to revenue from Rocket Lab’s...

BlackSky posted a net income of $675,000 in the third quarter of 2023, marking the first time the company has posted a positive net income.  However, CFO Henry Dubois noted on Wednesday’s call with investors that this was primarily due to accounting treatment of the company’s warrant liability exposure. Discounting warrant gains and losses, BlackSky’s...

The United Arab Emirates’ flagship operator Al Yah Satellite Communications Company  (Yahsat) is enjoying its strongest fiscal year in the last five years, with both its 2023 nine-month revenue and normalized EBITDA increasing 3% year-over-year, driven by 22% growth in its Thuraya-branded L-band mobility solutions business in the first nine months compared to the same...

Canadian satellite operator Telesat maintained its full-year 2023 revenue guidance in its 2023 third fiscal quarter (Q3) results, as it hopes to keep losses at a minimum in the ramp up the launch of its long-awaited Lightspeed constellation. In its results issued on Monday, Telesat reported consolidated revenue of $175 million (all figures in Canadian...