Constellations, Launch, New Space and more…
Virgin Orbit To Shut Down After Failing To Find A Financial Lifeline
Virgin Orbit To Shut Down After Failing To Find A Financial Lifeline

Richard Branson’s cash strapped launch company Virgin Orbit announced on Thursday that it will shut down and lay off 675 of its 775 employees after failing to secure “meaningful funding” over the past two weeks. CEO Dan Hart made the announcement during an employee all-hands meeting on Thursday afternoon.

(more…)
  • Parabolic Arc
  • March 30, 2023
Space SPAC Index: Uncertain Futures And  Delisting Notices Loom
Space SPAC Index: Uncertain Futures And Delisting Notices Loom

It is the worst of times for launch providers Virgin Orbit and Astra Space, whose futures could be decided in the next week. And two satellite operators — Momentus and Spire Global — have received delisting warnings from their respective stock exchanges. On that dour note, let’s dive right into this week’s S-SPACi.

(more…)
  • Parabolic Arc
  • March 28, 2023
Terran 1 is Sixth Launch Failure in Four Months
Terran 1 is Sixth Launch Failure in Four Months

Space is hard, maiden flights are really hard

Relativity Space’s 3D printed Terran 1 rocket failed to reach orbit on its maiden launch on Wednesday evening, marking the sixth launch failure worldwide in the last four months. It was the fourth failure of a new booster on its maiden flight, and the fourth mishap resulting from an anomaly with the second stage.

(more…)
  • Parabolic Arc
  • March 23, 2023
Terran Orbital’s Revenue Soared 130 Percent in 2022
Terran Orbital’s Revenue Soared 130 Percent in 2022

Terran Orbital’s (NYSE: LLAP) revenue soared 130 percent from $40.9 to $94.2 million last while its net loss rose from $139 million to $164 million, the company reported on Tuesday. The satellite manufacturer’s year-over-year adjusted EBITDA loss increased from $26.1 million to $69.5 million.

(more…)
  • Parabolic Arc
  • March 22, 2023