House SPAC Index – Intuitive Machines Units Window for Moon Launch

Welcome to S-SPACⁱ! On this week’s version, Intuitive Machines set a launch window for its first lunar touchdown mission, AST SpaceMobile raised cash to fund its first 5 satellites, Terran Orbital reported greater second-quarter income, and Virgin Galactic flew vacationers for the primary time. Plus we’ve acquired second-quarter outcomes for Astra and Momentus and the newest about Planet Labs and Rocket Labs.

Intuitive Machines units launch window

Intuitive Machines announced plans to launch its IM-1 mission to the Moon later this yr throughout a launch window from November 15-20. The Nova-C lander will carry 11 payloads for NASA and personal organizations to the Malapert A crater within the South polar area of the moon. The house company is funding the mission underneath its Business Lunar Payload Providers (CLPS) program.

Intuitive Machines reported second-quarter income of $18 million, down from $19.2 million throughout the identical interval in 2022. Income for the primary six months was $36.2 million, a decline from $37.7 million within the first half of final yr.

Intuitive Machines had a second-quarter working lack of $13.2 million, up from a $2.2 million working loss throughout the identical quarter final yr. The corporate had a money steadiness of $39.1 million and a contracted backlog of orders price $137.3 million on June 30, 2023.

AST SpaceMobile funds first satellites

AST SpaceMobile (Nasdaq: ASTS) reported this week that the primary 5 BlueBird satellites are absolutely funded and set to launch within the first quarter of 2024. The corporate reached the milestone after elevating as much as $179 million in further funding over the previous a number of months. AST SpaceMobile plans to deploy 243 satellites to offer communications companies to mobile telephones.

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House SPAC Index
August 16, 2023

Terran Orbital earnings enhance

Terran Orbital (NYSE: LLAP) reported that second-quarter income elevated 51 p.c to $32.2 million over the identical interval in 2022. The corporate mentioned the $2.4 billion, 300-satellite constellation it’s constructing for Rivada House Networks is on schedule, and that the shopper is present on all funds.

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Virgin Galactic flies vacationers

Virgin Galactic flew its first tourists on August 10. SpaceShipTwo VSS Unity carried 80-year-old former Olympia Jon Goodwin and the mother-daughter duo of Keisha Schahaff and Anastatia Mayers on a suborbital flight that reached an altitude of 88.5 km (55.0 miles) from Spaceport America in New Mexico.

It was the corporate’s second industrial flight after it flew three Italian researchers on June 29. The inaugural tourism flight got here practically 19 years after Virgin Galactic founder Richard Branson introduced plans to fly folks on suborbital flights in September 2004.

The corporate is planning a 3rd industrial flight subsequent month.

Astra: It’s all within the pivot

Astra House (Nasdaq: ASTR) reported income of $707,000 for the second quarter solely weeks after revealing it had laid off 1 / 4 of its workers and had pivoted away from its launch enterprise to manufacturing satellite tv for pc propulsion methods.

The $707,000 was additionally Astra’s income for the primary half of 2023. (The corporate had no income within the first quarter.) Final yr, Astra’s revenues had been $2 million within the first quarter and $5.9 throughout the first six months.

Astra reported a GAAP gross revenue of $300,000 and a GAAP internet lack of $14 million. The corporate had money, money equivalents, and marketable securities totaling $26.3 million on the finish of the quarter on June 30, 2023.

Astra is trying to increase $65 million by means of the sale of inventory. The corporate is a reverse inventory cut up during which 15 shares of inventory will probably be exchanged for one new share. The transfer is designed to lift the corporate’s inventory worth to $1 as a way to keep away from the corporate being delisted from the Nasdaq alternate in early October. Shares closed at $0.28 on Wednesday.

Momentus’ earnings soar

In-space transportation firm Momentus (Nasdaq: MNTS) reported second-quarter income of $1.705 million, which was a 3,310 p.c enhance over the $50,000 the corporate obtained throughout the identical interval final yr. Income for the primary six months of 2023 was $1.727 million. The corporate’s income was $50,000 for the primary half of 2022.

Momentus had an $18.8 million internet loss for the second quarter, down from $22.9 million throughout the identical three months of 2022. The online loss for the primary half of the yr declined from $49.7 million final yr to $39.7 million.

Momentus reported $21.3 million in money and money equivalents and $488,000 in restricted money when the quarter ended on June 30, 2023.

“The Firm has been working to lift further capital whereas pursuing and evaluating strategic options. To that finish, the Firm engaged Deutsche Financial institution as its monetary advisor,” Momentus mentioned in an earnings launch.

Momentus additionally announced this week it had obtained a contract from the House Growth Company to tailor its Vigoride Orbital Service Automobile to assist a full vary of Division of Protection payloads and mission necessities. The contract’s preliminary worth is $746,073 with an possibility for an extra $1.2 million to cowl additional work.

In different house SPAC information…

Planet Labs (NYSE: PL) completed the acquisition of Holding Sinergise, a Slovenia-based developer platform for Earth statement information. Planet mentioned the acquisition accelerates the development of its Earth Knowledge Platform and the power to effectively ship EO information to clients.

NASA selected Rocket Lab (Nasdaq: RKLB) to launch the house company’s Polar Radiant Power within the Far-InfraRed Experiment (PREFIRE) mission, which is able to enable scientists to raised perceive how a warming world will have an effect on sea ice loss, ice sheet soften, and sea rise stage.