Insights

Rocket Lab’s Intense Focus on Gross Margins

Rocket Lab is laser-focused on protecting and expanding margins. The company has improved its GAAP gross margins from -3% in 2021 to 35% today as it scales and grows through space systems acquisitions.  The second-most-prolific commercial launcher has grown its space systems division to 74% of revenue, tucking in a number of high-margin component businesses […]

Insights

Eutelsat is Turning into a OneWeb Business

The LEO connectivity division, now generating less than 20% of Eutelsat’s revenues, has a lot of room to grow and is on pace to be the company’s largest revenue generator in the next 3 years. 

Uncategorized

Our Take on Apex’s Jump Into Space-Based Interceptors

Apex announced today it was jumping into Golden Dome space-based interceptor development, a reveal that helps explain the company’s two $200M raises in back-to-back quarters this year. 

Insights Launch

Falcon 9 Cost and Margins

In 2017, SpaceX built 13 new boosters for its 18 total Falcon 9 launches—a 72% new booster rate. So far this year, the company has built seven new boosters for 124 Falcon launches—a 6% new booster rate.