When Space Businesses Should Accelerate Cash Burn, When to Improve
Space businesses continue their burn streak.
Insights
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.
Globalstar’s Revenue and Net Income
Globalstar’s future is inextricably tied to Apple—not a bad position to be in.
ICEYE’s $175M Raise, $2.8B Valuation
ICEYE is, without a doubt, Europe’s largest and most successful space startup.
Iridium’s Subscriber Count Continues to Grow
Iridium continues to grow its subscriber base (albeit slowly) amid Starlink’s onslaught in the satcom market.
Rocket Lab’s Intense Focus on Gross 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.
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.
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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
