Electron launches from New Zealand on July 17, 2023.
Picture credit score: Rocket Lab.
Welcome to S-SPACi! On this week’s version, Rocket Lab introduced a five-launch take care of BlackSky because it reported greater earnings, Virgin Galactic is on the eve of launching its first area vacationers after reducing expectations on future earnings, Astra Area laid off 1 / 4 of its workers because it pivoted to producing rocket engines, Planet Labs carried out layoffs of its personal, and Momentus unveiled its first satellite tv for pc bus.
BlackSky Books 5 Electron Launches
Geospatial information firm BlackSky (NYSE: BKSY) has booked 5 further Electron launches from Rocket Lab (Nasdaq: RKLB). The majority purchase is along with the six launches Rocket Lab has already carried out for BlackSky. The following launch is scheduled for 2024 from Mahia, New Zealand.
BlackSky’s next-generation Gen-3 satellites are designed to provide photos with as much as 35-centimeter decision. The satellites will lengthen BlackSky’s capability to offer real-time insights to its prospects in a broad set of circumstances, together with nighttime, low mild, and difficult climate.
Area SPAC Index
August 9, 2023
| Firm | First Buying and selling Day | Opening Share Worth | Excessive | Closing Worth |
|---|---|---|---|---|
| Astra Area (Nasdaq: ASTR) | July 1, 2021 | $12.30 | $16.95 (7/2/21) | $0.31 |
| AST SpaceMobile (Nasdaq: ASTS) | April 7, 2021 | $11.63 | $15.48 (6/30/21) | $4.44 |
| BigBear.ai (NYSE: BBAI) | Dec. 8, 2021 | $9.84 | $16.12 (4/6/22) | $1.59 |
| BlackSky (NYSE: BKSY) | Sept. 10, 2021 | $11.80 | $13.20 (9/16/21) | $1.69 |
| Intuitive Machines (Nasdaq: LUNR) | Feb. 14, 2023 | $10.00 | $136.00 (2/20/23) | $9.14 |
| Momentus (Nasdaq: MNTS) | Aug. 13, 2021 | $10.85 | 12.87 (9/7/21) | $0.37 |
| Planet Labs (NYSE: PL) | Dec. 8, 2021 | $11.25 | $11.65 (12/8/21) | $3.41 |
| Redwire (NYSE: RDW) | Sept. 3, 2021 | $10.70 | $16.98 (10/25/21) | $3.39 |
| Rocket Lab (Nasdaq: RKLB) | Aug. 25, 2021 | $11.58 | $21.34 (9/9/21) | $6.45 |
| Satellogic (Nasdaq: SATL) | Jan. 26, 2022 | $9.19 | $10.92 (5/4/22) | $1.78 |
| Satixfy (NYSE AMERICAN: SATX) | Oct. 28, 2022 | $8.29 | $51.70 (11/17/22) |
$0.30 |
| Spire (NYSE: SPIR) | Aug. 17, 2021 | $10.25 | $19.50 (9/22/21) | $0.67 |
| Terran Orbital (NYSE: LLAP) | March 28, 2022 | $12.69 | $12.69 (3/28/22) | $1.19 |
| Virgin Galactic (NYSE: SPCE) | Oct. 28, 2019 | $11.79 | $62.80 (2/4/21) | $3.38 |
Rocket Lab reviews quarterly earnings
Rocket Lab (Nasdaq: RKLB) reported $62 million in income for the second quarter, a rise from $55.5 million throughout the identical interval of 2022. Income for the primary six months of this 12 months was $116.9 million, a rise from the $96.2 million reported final 12 months.
Rocket Lab’s internet loss for the second quarter was $45.9 million, a rise from $37.4 million throughout the second quarter of 2022. The corporate’s internet loss for the primary half of the 12 months elevated from $64.1 million in 2022 to $91.5 million this 12 months.
Rocket Lab had $197.2 million in money and money equivalents on June 30, 2023. The corporate additionally had $144 million in marketable securities on the finish of the second quarter.
The corporate stated it expects revenues of $73 million to $77 million within the third quarter.
Virgin Galactic preps for tourism flight
Virgin Galactic (NYSE: SPCE) will fly a mother-daughter workforce from the Caribbean and an 80-year-old former Olympian aboard SpaceShipTwo VSS Unity on Thursday, August 8. It will likely be the corporate’s second business flight and the primary with area vacationers.
The corporate will webcast the flight starting at 11:00 AM EDT (15:00 UTC). Search for protection of the flight on SpaceRef.
Keisha Schahaff and her daughter, Anastatia Mayers, gained their tickets in a raffle sponsored by Area for Humanity. Schahaff, 46, is a well being and wellness coach from Antigua and Barbuda. Mayers, 18, is a second-year scholar finding out physics and philosophy on the College of Aberdeen in Scotland. They would be the first mother-daughter duo to fly on a spacecraft. Area for Humanity was based by Dylan Taylor, who owns Parabolic Arc as a part of Multiverse Media.
Becoming a member of them is Jon Goodwin, 80, who would be the first former Olympian to fly on a spacecraft. The British adventurer competed within the two-man slalom canoeing competitors on the 1972 Olympics in Munich, Germany. He would be the second particular person with Parkinson’s illness to fly to area.
Virgin Galactic Chief Astronaut Teacher Beth Moses will be part of the area vacationers within the cabin.
Virgin Galactic reviews greater income
Virgin Galactic (NYSE: SPCE) reported income of $1.87 million for the second quarter, a rise from the $357,000 reported throughout the identical interval in 2022. Income for the primary six months elevated from $676,000 in 2022 to $2.26 million throughout the first half of this 12 months.
Virgin Galactic suffered a internet lack of $134 million throughout the second quarter, a rise over the $111 million internet loss within the second quarter of 2022. Officers stated the loss was “primarily pushed by a rise in analysis and improvement bills associated to the event of the long run fleet.” Virgin Orbit is creating a brand new class of SpaceShipTwo automobiles and WhiteKnightTwo provider plane.
Virgin Galactic reported $358.3 million in money and money equivalents and $581.9 million in short-term marketable securities as of June 30, 2023.
Virgin Galactic carried out its first business flight on June 29 when it flew three Italian researchers to the sting of area. The corporate expenses $600,000 per seat for analysis missions.
Astra Pivots Amid Layoffs
Struggling launch supplier Astra (Nasdaq: ASTR) has laid off 25 % of its workforce (round 70 workers) and pivoted 50 employees members to constructing rocket engines. Earlier this 12 months, the corporate stated it had 278 orders for its Astra Spacecraft Engine, which is designed to be used on small satellites. The reallocation of assets means the primary flight of the corporate’s Rocket 4 booster, which had been deliberate this 12 months, has slipped to 2024.
Astra introduced it raised $10.8 million in internet proceeds from promoting debt to Excessive Path Capital. The corporate has been going through dwindling money reserves and the specter of being delisted from the Nasdaq inventory alternate.
Planet Lays off 10 P.c of Workforce
Planet (NYSE: PL) has laid off 10 % of its workforce (117 workers). In a note posted on the corporate’s weblog, CEO Will Marshall wrote:
Whereas Planet has at all times operated with a lean mentality, we transitioned into a brand new working mode once we went public 18 months in the past. This included constructing out groups that had been traditionally understaffed and taking up a variety of latest initiatives to develop our market alternative.
Our enterprise has scaled quickly and continues to develop apace, however the growth of initiatives has additionally elevated price and complexity, which slowed us down in some regards. Concurrently, the macroeconomic atmosphere has modified. For each of those causes, we’re making adjustments to prioritize our consideration on the very best ROI alternatives for our enterprise and mission, whereas reinforcing our path to profitability, in step with what we shared on our prior earnings name.
Momentus Unveils Satellite tv for pc Bus
Momentus (Nasdaq: MNTS) unveiled its first satellite tv for pc bus, M-1000, throughout the Small Satellite tv for pc Convention in Logan, Utah. The bus relies on the corporate’s Vigoride orbital switch automobile, which is used to deploy satellites throughout rideshare missions. Momentus stated the low-cost bus affords as much as as much as 3 kW of peak energy, a big payload capability, and a versatile configuration. Momentus submitted a proposal to the US Area Growth Company to provide 50 satellites utilizing the M-1000 satellite tv for pc bus for the Tranche 2 Transport Layer Alpha program.
