Blue Origin’s TeraWave Angle, Economics, and the Starlink / Amazon Leo Comparison
TeraWave deep dive.
Jack Kuhr
Revenge of the Bad Businesses: Refining the Space Hardware Investing Thesis During This Year’s Software Rout
The investor playbook has flipped: In the era of AI, Asset-light, high-margin good businesses (software) start to look bad, while greasy, capital-intensive, bad businesses (hardware) now look good. That’s just as true in space as anywhere else.
When Space Businesses Should Accelerate Cash Burn, When to Improve
Space businesses continue their burn streak.
Breaking Down York Space’s IPO Prospectus
Another space business is hitting public markets.
Predicting SpaceX’s 2026 Revenue
We forecast that SpaceX’s revenue will increase from $15B in 2025 to $23.8B in 2026, driven by Starlink’s customer base doubling from 9.2M to 18.4M.
Estimating SpaceX’s 2025 Revenue
Payload is back with our 2025 SpaceX revenue model build.
Charts Defining the Space Industry in 2025
2025 was the year of a convergence of tailwinds in the space industry.
Globalstar’s Revenue and Net Income
Globalstar’s future is inextricably tied to Apple—not a bad position to be in.
Direct-to-Device Competitive Landscape Report
This report breaks down the frontrunners—Starlink, AST SpaceMobile, Globalstar, Iridium, Lynk Global + Omnispace, Skylo, Equatys (Viasat and Space 42), and Amazon Leo—digs into their spectrum strategies, satellite architectures, financial positions, and deployment timelines.
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LATEST REPORT
Rocket Lab Report
Rocket Lab’s thesis centers on becoming a fully integrated space infrastructure company, controlling every step from satellite production and launch to space-based data services
