Welcome to our dedicated page for Terran Orbital Corporation news (Ticker: LLAP), a resource for investors and traders seeking the latest updates and insights on Terran Orbital Corporation stock.
Terran Orbital Corporation (symbol: LLAP) is a leading manufacturer of satellite products, offering comprehensive end-to-end solutions for the aerospace and defense industries. The company operates primarily in the United States and Europe, with the majority of its revenue generated from the U.S. market.
Terran Orbital's core business encompasses satellite design, production, launch planning, mission operations, and on-orbit support. Their services are tailored to meet the diverse needs of military, civil, and commercial customers, ensuring reliable and efficient satellite solutions.
Recent achievements include successful satellite deployments and strategic partnerships with top-tier aerospace and defense organizations. The company continues to innovate, focusing on the development of advanced satellite technologies to stay ahead in the rapidly evolving market.
Terran Orbital is engaged in several current projects, including the construction of cutting-edge satellites for high-profile clients and collaborations with government agencies to enhance national security capabilities. Financially, the company maintains a stable footing, backed by continuous revenue streams and a growing portfolio of contracts.
By leveraging its expertise and robust infrastructure, Terran Orbital aims to expand its market presence while delivering high-quality, reliable satellite products and services. Whether for defense, scientific research, or commercial applications, Terran Orbital remains at the forefront of satellite innovation.
Terran Orbital Corporation (NYSE: LLAP) announced the receipt of a milestone payment as part of its $2.4 billion contract with Rivada Space Networks for the development of 300 spacecraft. These will include 288 operational low-Earth orbit satellites and 12 spares, each weighing approximately 500 kg. The completion of industrial partner screening and trade studies marks a significant advancement in the acquisition process, which will support system engineering. The project encompasses designing, building, and deploying the satellites, alongside integrating communications payloads and conducting final assembly and testing. A demonstrator mission is set for launch by the end of 2024, featuring four satellites to test new communication technologies. Rivada's CEO expressed enthusiasm about progressing with Terran Orbital and its industrial partners for the constellation project.
Terran Orbital Corporation (NYSE: LLAP), a leader in satellite-based solutions for aerospace and defense, announced that Scott Bennett, Vice President of Business Development and Strategic Partnerships, will present at the Arizona Space Summit on April 6 at 12:00 p.m. PT. Bennett will participate in the Manufacturing Panel moderated by Dr. Binil Starly from Arizona State University. The summit will also feature keynotes from Ambassador Barbara Barrett and Lt. Col Justin Chandler. Additionally, Terran Orbital will support a Space Career Fair on April 5, promoting recruitment among students.
Terran Orbital reported record revenues of $94.2 million for 2022, a 130% increase year-over-year, driven by significant contracts including a major $2.4 billion deal with Rivada Space Networks for 300 satellites. Despite the revenue growth, the company experienced a net loss of $164 million, up from $139 million in the previous year, largely due to increased costs and operational expenses. The backlog grew by 131% to $170.8 million, excluding the Rivada contract. Looking ahead, the company is expanding its manufacturing capacity and is set to deliver 42 Transport Layer satellites in 2023.
Terran Orbital Corporation (NYSE: LLAP) announced that Co-Founder, Chairman, and CEO Marc Bell, along with CFO Gary Hobart, will present at the Sidoti Small-Cap Virtual Investor Conference. The presentation is scheduled for Wednesday, March 22 at 2:30 p.m. E.T. Interested parties can access the presentation here. One-on-one meetings will take place on March 22 and March 23.
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