Finance

Eutelsat Group’s operating vertical revenue in the third quarter increased 8.5% year-over-year, fueled by double-digit growth in fixed and mobile connectivity and government services. Eutelsat issued its third quarter 2023-24 results on May 14. Eutelsat achieved overall revenues of 300 million euros ($326 million) in the third quarter that ended March 31, an increase of...

Lockheed Martin awarded Terran Orbital another subcontract for its work for the Space Development Agency (SDA). Lockheed Martin awarded Terran Orbital a subcontract to produce 18 satellite buses for its Tranche 2 (T2) Tracking Layer contract, the company announced on May 13 ahead of its first quarter results.   Terran Orbital previously built 10 buses for...

MDA Space posted modest revenue growth of 3.6% year-over-year in the first quarter of 2024, and a 169% year-over-year increase in backlog.   The company reported $209 million Canadian dollars ($153 million) in revenue on May 9, citing strong contributions from its Robotics & Space Operations business. Revenue in the Robotics & Space Operations increased 12%...

Revenue for Canadian satellite operator Telesat dipped 17% in the first quarter of 2024 compared to the same time last year. Telesat reported $152 million Canadian dollars ($111 million) in revenue in the first quarter of 2024.  The revenue decline was due to reduction of services and lower renewal rate on a direct-to-home capacity deal....

SpaceX’s Starlink business is on track to hit $6.6 billion in revenue and post its first free cash flow positive year in 2024, Quilty Space estimates in a new report on the impact of the satellite constellation.  Quilty Space conducted an in-depth analysis into Starlink financials, which are not publicly reported. The report is not...

Globalstar reported $56.5 million of revenue in the first quarter of 2024, a $500,000 increase from the same time last year. In its May 8 financial report, the company reported continued growth in commercial IoT, and a new satellite proof-of-concept for a government services company.  Globalstar noted that there was a nonrecurring revenue item in...

BlackSky reported $24.2 million in revenue in the first quarter of 2024, up 32% from the same time last year. The company released its Q1 financials on May 8.  Imagery and software analytical services revenue is the largest portion of the company’s revenue — $17.8 million in the first quarter of 2024. This was an...

Satellite navigation startup Xona has raised $19 million in a Series A funding round, the company announced Wednesday. Future Ventures and Seraphim Space led the round, which also included new investors NGP Capital, Industrious Ventures, Murata Electronics, Space Capital, and Aloniq. Xona is developing a Low-Earth Orbit (LEO) satellite network to provide commercial navigation services....

Privateer, a space data company started by Apple co-founder Steve Wozniak, acquired Earth observation (EO) analytics company Orbital Insight in a deal announced May 6. Privateer pitched the acquisition as a way to “make space data and Earth insights more powerful and accessible than ever.”  Privateer said that Orbital Insight’s TerraScope analytics platform will be...

EchoStar Corporation reported an 8.5% revenue decline in the first quarter of 2024 compared to the prior year, with subscriber declines in pay-TV, retail wireless, and satellite broadband. As the company reported financial results on May 8, amid a cash crunch to continue funding operations, one analyst predicted a bankruptcy is imminent.  Last quarter, EchoStar...