Space companies put up a mixed second quarter. Here's who outperformed and who faltered

The 2nd 4th was a mixed container for abstraction companies, with immoderate firms posting dependable advancement portion others faced setbacks.

Most abstraction stocks, galore of which went nationalist past twelvemonth done SPAC deals, are struggling contempt the industry's growth, disconnected 50% oregon much since their marketplace debut. The shifting marketplace situation and climbing involvement rates person deed exertion and maturation stocks hard, weighing connected abstraction stocks.

CNBC breaks down the astir caller quarterly reports for Aerojet Rocketdyne, AST SpaceMobile, Astra, BlackSky, Iridium, Maxar, Momentus, Mynaric, Redwire, Rocket Lab, Satellogic, Spire Global, Telesat, Terran Orbital, ViaSat, Virgin Galactic and Virgin Orbit.

Satellite imagery company Planet has yet to study its latest quarterly results, arsenic the institution follows a fiscal twelvemonth calendar that began connected Feb. 1.

Stock's year-to-date performance: -3%

Aerojet Rocketdyne continues to gully a large information of gross from the abstraction sector. The propulsion specializer takes a bulk of its $528.5 cardinal successful second-quarter income from defense-related contracts. Notably, president and CEO Eileen Drake confirmed that Aerojet's backlog added a United Launch Alliance declaration for 116 of the RL10 engines needed to power the Vulcan rocket series, galore of which Amazon ordered.

Stock's year-to-date performance: +36%

The satellite-to-smartphone broadband institution reported gross of $7.3 cardinal and full operating expenses of $35.4 million, some metrics somewhat higher than the aforesaid play a twelvemonth earlier. The institution has $202.4 cardinal successful cash, arsenic AST continues to enactment toward the motorboat of its Blue Walker 3 trial outer successful September. It's spent $86.6 cardinal connected the objection to date.

Stock's year-to-date performance: -88%

Small rocket and spacecraft builder Astra reported different dense quarterly loss, taking an adjusted EBITDA deed of $48.4 million. The institution brought successful conscionable $2.7 cardinal successful gross and announced the astonishment cancellation of its Rocket 3.3 bid on with a motorboat pause until astatine slightest 2023 arsenic it pivots to processing the larger variation, Rocket 4.0. Astra has $200.7 cardinal successful currency connected hand.

Stock's year-to-date performance: -52%

Seattle-based outer imagery specializer BlackSky reported gross of $15.1 cardinal for the quarter, astir treble what is posted a twelvemonth ago, and an adjusted EBITDA nonaccomplishment of $8.8 million. The institution landed a large triumph successful the signifier of an NRO declaration for its imagery, worthy up to $1.02 billion implicit a decade.

Stock's year-to-date performance: +9%

The outer communications supplier delivered gross of $174.9 million, an operational EBITDA nett of $105.9 cardinal and conscionable nether 1.9 cardinal full subscribers — up 17%, 12%, and 16%, respectively, from the aforesaid play a twelvemonth prior. Iridium CEO Matt Desch emphasized connected the telephone that the "business outperformed nicely," with the institution "positioned good to turn ... adjacent if caller concerns of an economical downturn travel to fruition." The institution besides won a important grant from the Pentagon's Space Development Agency during the quarter, which Desch expects to adhd $133 cardinal successful gross implicit 7 years.

Stock's year-to-date performance: -58%

The spacecraft shaper brought successful conscionable $50,000 successful revenue, owed to a canceled lawsuit contract, and reported an adjusted EBITDA nonaccomplishment of $18.3 million. While Momentus has astir $109 cardinal successful currency connected hand, the institution says it plans to trim its quarterly currency pain by cutting immoderate spending and delaying semipermanent R&D projects, arsenic it focuses connected resolving issues identified with its spacecraft during its latest mission.

Stock's year-to-date performance: -41%

The laser communications shaper has yet to statesman reporting quarterly results, having gone nationalist successful November. During the 2nd quarter, Mynaric announced an statement with defence steadfast L3Harris, which volition instrumentality a 7.2% involvement successful the institution and put astir $11 million.

Stock's year-to-date performance: -54%

The abstraction infrastructure conglomerate collected $36.7 cardinal successful gross during the quarter, up 14% from a twelvemonth prior, with an adjusted EBITDA nonaccomplishment of $4.1 million. Notably, Redwire "expects to execute affirmative adjusted EBITDA successful the 2nd fractional of 2022," adjacent arsenic it continues to put successful infrastructure expansions specified arsenic a recently opened robotic limb manufacturing installation successful Luxembourg.

Stock's year-to-date performance: -54%

The multinational small-rocket and spacecraft builder reported $55.5 cardinal successful revenue, up 36% from the erstwhile quarter, mostly from its abstraction systems division. It besides accrued its full bid backlog to $531.4 million. The institution reported an adjusted EBITDA nonaccomplishment of $8.5 million, but has implicit fractional a cardinal successful currency connected hand. Rocket Lab CEO Peter Beck said connected the company's net league telephone that Rocket Lab continues "to spot beardown request for Electron launches."

Stock's year-to-date performance: -53%

The outer imagery institution has yet to statesman reporting quarterly results, having gone public successful January. During the 2nd 4th Satellogic debuted 4 further satellites successful orbit via a SpaceX launch, expanding its fleet to 26 truthful far. The institution aims to person 34 successful orbit by aboriginal 2023.

Stock's year-to-date performance: -55%

Small outer builder and information specializer Spire brought successful $19.4 cardinal successful gross during the 2nd 4th and reported an adjusted EBITDA nonaccomplishment of $7.3 million. For the afloat twelvemonth 2022, the institution expects that it volition surpass $100 cardinal successful yearly recurring gross from subscribers.

Stock's year-to-date performance: -61%

The Canadian-based outer communications relation reported gross of astir $143 cardinal (converted astatine existent rates from Canadian dollars), a flimsy alteration from the twelvemonth before, with a declaration backlog worthy astir $1.5 billion. Telesat posted an adjusted EBITDA nett of astir $112 million. The institution noted that, pending last shaper and financing agreements, superior expenditures "could summation substantially" to money the improvement of its Lightspeed network.

Stock's year-to-date performance: -59%

The spacecraft shaper recorded $21.4 cardinal successful gross during the 4th and reported an adjusted EBITDA nonaccomplishment of $14.8 million, portion expanding its backlog to $224.1 million. Terran Orbital began delivering outer buses, the main assemblage of a spacecraft, to Lockheed Martin nether a Pentagon contract, and supported the motorboat of NASA's CAPSTONE spacecraft, which it helped build.

Stock's year-to-date performance: -16%

The outer broadband provider, which is connected a fiscal twelvemonth calendar that starts successful April, reported quarterly gross of $678 cardinal and an adjusted EBITDA nett of $132 cardinal — the erstwhile a 2% year-over-year summation and the second a 17% decrease. Viasat noted that it continues to spot unit connected its finances from proviso concatenation shortages and inflation. The institution plans to motorboat its ViaSat-3 outer precocious this year.

Stock's year-to-date performance: -55%

The abstraction tourism institution reported an adjusted EBITDA nonaccomplishment of $93 cardinal connected negligible revenue. Virgin Galactic announced yet different hold to the commencement of commercialized service, pushing it backmost to the 2nd 4th of 2023 arsenic the institution continues to refurbish the bearer craft that begins its spaceflights. Virgin Galactic reported $1.1 cardinal successful currency connected manus and announced plans to merchantability up to $300 cardinal successful communal stock.

Stock's year-to-date performance: -50%

The alternate rocket launcher did not study immoderate revenue, but completed a motorboat the time aft the 2nd 4th ended and volition admit $12 cardinal from that successful the adjacent period. Virgin Orbit recorded an adjusted EBITDA nonaccomplishment of $34.4 cardinal and $122.1 cardinal successful currency connected hand. The institution expects to implicit 2 much launches this year, making for 4 full successful 2022.