Terran Orbital Corp (NYSE: LLAP)
Terran Orbital Corp (NYSE: LLAP) Q1 2023 Financial Results I like this company for the long term revenue growth potential 2.5 billion in backlog - I do not own this stock yet but I am watching it closely for a long term entry
$28.2 million first quarter 2023 revenues, up 115% year over year #llap #news #richtvlive
Over $2.5 billion and with a record 360 satellites in backlog as of quarter end
Announcing a new $87 million constellation order
Guiding FY2023 revenue in excess of $250 million
BOCA RATON, Fla.--(BUSINESS WIRE)-- Terran Orbital Corporation (NYSE: LLAP) ("Terran Orbital" or the "Company"), a leading manufacturer of satellite products primarily serving the aerospace and defense industries, today announced financial results and operational highlights for the three months ended March 31, 2023.
Terran Orbital Corp (NYSE: LLAP) Q1 2023 Financial Results
First Quarter 2023 Highlights
Generated $28.2 million of revenue with contribution from over 20 programs
Backlog of over $2.5 billion represents over 1,300% increase since December 31, 2022
Expansion of capacity on track – commissioning new 50 Tech facility
Net loss of $54.4 million improved from net loss of $71.4 million in 1Q22
Subsequent Events
Received initial milestone payment under contract with Rivada Space Networks
Awarded $87 million, 16 satellite order from a new customer
Marc Bell, Co-Founder, Chairman & CEO, said, “I am excited to announce our record recent awards and solid operational progress. Our momentum in new constellation awards and over 30 programs on contract today sets the stage for us to harvest the benefits of our strategic investments in capacity ahead of the market’s explosion of demand. We are building a new satellite production system that will have a level of scale, vertical integration, and automation not available today. Our production system is designed to deliver satellites at mass scale at the speed and quality our customers desire, at a price point to stimulate new markets, and at margins to reward our shareholders. Our newest expansion will be coming online in the next few weeks and our next capacity increase is on schedule for a fall 2024 opening.”
$28.2 million first quarter 2023 revenues, up 115% year over year #llap #news #richtvlive
Over $2.5 billion and with a record 360 satellites in backlog as of quarter end
Announcing a new $87 million constellation order
Guiding FY2023 revenue in excess of $250 million
BOCA RATON, Fla.--(BUSINESS WIRE)-- Terran Orbital Corporation (NYSE: LLAP) ("Terran Orbital" or the "Company"), a leading manufacturer of satellite products primarily serving the aerospace and defense industries, today announced financial results and operational highlights for the three months ended March 31, 2023.
Terran Orbital Corp (NYSE: LLAP) Q1 2023 Financial Results
First Quarter 2023 Highlights
Generated $28.2 million of revenue with contribution from over 20 programs
Backlog of over $2.5 billion represents over 1,300% increase since December 31, 2022
Expansion of capacity on track – commissioning new 50 Tech facility
Net loss of $54.4 million improved from net loss of $71.4 million in 1Q22
Subsequent Events
Received initial milestone payment under contract with Rivada Space Networks
Awarded $87 million, 16 satellite order from a new customer
Marc Bell, Co-Founder, Chairman & CEO, said, “I am excited to announce our record recent awards and solid operational progress. Our momentum in new constellation awards and over 30 programs on contract today sets the stage for us to harvest the benefits of our strategic investments in capacity ahead of the market’s explosion of demand. We are building a new satellite production system that will have a level of scale, vertical integration, and automation not available today. Our production system is designed to deliver satellites at mass scale at the speed and quality our customers desire, at a price point to stimulate new markets, and at margins to reward our shareholders. Our newest expansion will be coming online in the next few weeks and our next capacity increase is on schedule for a fall 2024 opening.”
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