Finance

Global satellite operator Viasat announced Wednesday that it has hired Delta Air Lines‘ Senior Vice President of Operational Finance Gary Chase as its new CFO. Chase will start with Viasat on September 16. Viasat’s current CFO Shawn Duffy will remain with the company as its chief accounting officer. Chase spent more than 12 years at...

Scottish satellite data startup Space Intelligence completed a Series A funding round led by new investors AzurX Space Ventures (ASV) with participation from Intercontinental Exchange, Inc. Dr. Murray Collins, co-founder and CEO of Space Intelligence said the funding will be used to expand the company’s catalog of global forest mapping data to support carbon offset...

The European space startup scene has been going strong in the past few years despite global financial headwinds. But accessibility of growth-stage funding and too much red tape remains an obstacle for many fledgling space firms. Investment in space tech has dwindled globally since 2021 due to high inflation, rising interest rates and growing distrust...

Swiss satellite IoT company Astrocast delisted from the Euronext Growth Exchange in Oslo, Norway, as leadership decided to take the company private. CEO Fabien Jordan explained the strategy behind the decision in an Aug. 20 LinkedIn post.  Astrocast went public in August of 2021 as the first Swiss company on the Euronext Growth Exchange in...

Mynaric is experiencing production delays on its laser communication terminals, causing the company to slash its revenue guidance. Mynaric updated its guidance on August 20 and also announced the company’s CFO Stefan Berndt von-Bulow left the company for personal reasons last week.  Mynaric now expects revenue in 2024 to range between 16 million euros to...

Comtech has relocated its corporate headquarters from Melville, New York to Chandler, Arizona to invest in the next stage of the company’s growth.  The company has had a presence in Arizona since the ‘80s and opened up a new office in Chandler in 2023. The corporate headquarters and financial reporting that remained in Long Island,...

Lockheed Martin on Thursday said it has agreed to acquire satellite manufacturer Terran Orbital in a $450 million deal based on enterprise value, a bargain versus the $606 million unsolicited proposal the aerospace and defense giant made in March. Announcement of deal follows Terran’s disclosure on Monday that it has removed from its backlog more than...

Redwire Corp. on Wednesday evening said it has agreed to acquire Hera Systems in a deal that will add additional spacecraft options to its portfolio, including satellites for Geostationary Orbit (GEO). Terms of the deal, which is expected to close in the third quarter, were not disclosed. Redwire said Hera generated $15 million in sales in...

Telesat reported a 15% drop in revenue in the second quarter of 2024 as the operator ramps up capital expenditures for the Lightspeed constellation and works to finalize funding agreements with Canadian governments.  Canadian satellite operator Telesat reported its second quarter financial results on August 14, reporting $152 million Canadian dollars ($111 million)  in revenue.  ...

Terran Orbital’s revenue decreased nearly 6% in the second quarter of 2024 as the company’s supply of cash dwindles.  The satellite manufacturer filed its 10-Q with the Securities and Exchange Commission (SEC) on August 12, but did not publish a press release or hold a call with investors.  Revenue in the second quarter was $30.3...