Q1 Earnings for the Primes: Northrop, Lockheed, and Boeing
A&D Primes reported Q1 earnings this week. Tucked away in the reports were some interesting details on space.
Insights
The Steep, Steep NASA Cuts
The White House has sent in its preliminary NASA budget proposal, which calls for 20% (!) cuts to agency funds.
Verizon CRO Pours Cold Water on Direct-to-Device Hype
If anyone has a finger on the consumer’s pulse, it’s Boulben.
New Satellite Constellation Companies are in Decline
The number of new satellite constellation businesses has sharply declined over the past decade as the space market matures and new startups struggle to find angles to differentiate.
Estimating SpaceX’s 2024 Revenue
Payload is back with our SpaceX revenue breakdown. We estimate SpaceX’s revenue reached $13.1B in 2024, up from $8.7B in 2023. Business line estimates:
Charts Defining the Space Industry in Q3
Astranis, a startup building small GEO broadband satellites for targeted service, led the way this quarter with its $200M monster Series D round, by far the largest US space raise so far in 2024.
Charts Defining the Space Industry in Q2
There were 63 total global launches in Q2 2024, a 40% YoY increase. The usual suspects, SpaceX and China, are once again leading the charge.
Q1 Space Industry via Charts
The first three months of 2024 was another busy quarter for the space industry, underscored by continued growth in SpaceX’s launch cadence and a solid VC funding environment. Below are the four charts defining the quarter.
Predicting SpaceX’s 2024 Revenue
Last week, we detailed SpaceX’s 2023 revenue, estimating sales reached $8.7B. This week, we’re once again dusting off the crystal ball and predicting SpaceX’s 2024 revenue.
Estimating SpaceX’s 2023 Revenue
Payload is back with our SpaceX revenue analysis. This week, we’ll estimate SpaceX’s 2023 revenue, breaking down launch and Starlink revenue.
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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
