Finance

Virgin Orbit laid off about 85% of its workforce, approximately 675 employees, after it was unable to secure funding.  The smallsat launcher disclosed the layoffs in filings to the Securities and Exchange Commission (SEC) on March 31. Virgin Orbit said layoffs affect all areas of the company and will be complete by April 3.  The...

Planet increased revenue by 46% year-over-year in its 2023 fiscal year that ended January 31, 2023. The Earth observation (EO) company also announced Wednesday it is acquiring Sinergise, a developer platform for EO data. Full year revenue was a record $191.3 million.  Revenue is exactly in line with what Planet projected when the company first...

Telesat leadership did not have an update on financing for the Lightspeed constellation in its full year financial results, but confirmed the company is optimistic and confident the project will go ahead, answering a gauntlet of questions on the company’s investor call on Wednesday.  Telesat is still in discussions with various parties to cover the...

SES confirmed the operator is in talks for a potential combination with fellow operator Intelsat. SES issued a statement Wednesday morning after Bloomberg reported the satellite companies are nearing a deal.  “In response to rumors in the market, SES S.A. confirms that the company has engaged in discussions regarding a possible combination with Intelsat. At...

Isar Aerospace, one of the new launch companies out of Europe, has secured another $165 million in financing, as it gets ready for its first launch later this year. The company announced the successful Series C funding round, March 28. The round is backed by 7-Industries Holding, Bayern Kapital via its Scale Up Fund Bavaria,...

To commemorate International Women’s Day, Via Satellite celebrates women who have made a difference for the greater satellite and space industry, and in the lives of their colleagues. More than 75 people wrote about their mentors, colleagues, friends, and bosses — women that drive the industry forward through engineering, business development, regulatory policy, sales, and more. With...

In SpaceX’s more than two decades, the company has grown from a fledgling startup into the world’s leading launch provider. Today, SpaceX boasts a reported staff of about 10,000 people. The space company is also hiring for hundreds of open positions, from Starship engineers and supply chain managers to space suit designers, according to its open...

Spire Global could be delisted from the New York Stock Exchange due to the average closing price of the company’s stock. Spire said in a March 24 press release that it received notice from the NYSE that it is not in compliance with a rule relating to share price. Spire said it intends to regain...

Virgin Orbit, which paused operations last week to conserve capital, plans to incrementally resume operations on Thursday to prepare for the next mission as the company continues funding talks.  Virgin Orbit paused operations on March 16, disclosed in filings  to the Securities and Exchange Commission (SEC). The smallsat launcher has funding troubles, and had just...

Terran Orbital reported a record $94.2 million of revenue in 2022 — more than doubling revenue compared to 2021, driven by the company’s subcontract for the Space Development Agency’s proliferated network.  The company released its full year results on March 21. The $94.2 million in revenue was a 130% increase compared to about $41 million...