Terran Orbital (NYSE: LLAP) reported record revenue of $32.2 million in the second quarter and a backlog of orders for more than 370 satellites worth in excess of $2.6 billion. The company said the $2.4 billion, 300-satellite constellation it is building for Rivada Space Networks is on schedule, and that the customer is current on all payments.

Terran Orbital (NYSE: LLAP) reported a 115 percent year-over-year increase in first-quarter revenue on Monday as the satellite manufacturer trimmed 24 percent off its net loss.

Welcome to S-SPACⁱ. In this edition, Terran Orbital received a milestone payment for the Rivada satellite constellation, Intuitive Machines’ joint venture won a major contract, and AST SpaceMobile made an historic phone call. Plus, news about BlackSky and Rocket Lab.

Terran Orbital subsidiary Tyvak Nano-Satellite Systems has been awarded a $2.4 billion contract to supply 300 communications satellites to Rivada Space Networks. The company will build 288 satellites for deployment in low Earth orbit along with 12 spares.

GENEVA (RIvada Space Networks PR) — Rivada Space Networks GmbH, a disruptive new company launching a constellation of 600 low-earth-orbit communications satellites, today announced a pledge of $112 million toward creating an Open Access Platform for the ITU Partner2Connect Digital Coalition to help bridge the digital divide.