by Douglas Messier
Small satellite manufacturer Terran Orbital reported a first quarter net loss of $71.4 million on $13.1 million in revenues, but the company said it had a record backlog of $222 million at the end of March. The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss was $14.7 million for the quarter.
“We had a record quarter of contract wins and grew our backlog to more than $220 million by quarter end. We are focused on delivering satellites and expanding our production capacity to satisfy our growing customer demand. Market demand signals for small satellites have been increasing rapidly in 2022 as evidenced by the growth in defense budgets. We continue to see tremendous demand for our satellite manufacturing business going into 2022 and have built our pipeline to over $12 billion of opportunities,” said CEO/Chairman Marc Bell.(more…)
- Parabolic Arc
- May 29, 2022