Terran Orbital Holds Town Hall Meeting; Discusses Recently Announced $160 Million in New Awards
27 Outubro 2023 - 7:30AM
Business Wire
Actively Engaged in 80 New Opportunities for
More Than 2,800 Satellite Buses Collectively Valued Over $2.7
Billion
Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the
“Company”), a global leader in satellite-based solutions primarily
serving the aerospace and defense industries, held its first live
Shareholder Town Hall Meeting (the “Town Hall”) yesterday. The
virtual Town Hall was open to the public and included a live audio
and video stream, during which the Company's Chief Executive
Officer, Marc Bell, and the lead independent director of the
Company's board of directors, Stratton Sclavos, provided a
financial, operational, and strategic update and held a Q&A
session.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231027979251/en/
Terran Orbital's Seven Standard
Platforms. Over a decade ago, Terran Orbital pioneered the creation
of CubeSat standards, and today, they are establishing new
benchmarks for satellite technology for the coming decade. These
standards are built upon Terran Orbital's manufacturing
capabilities, featuring components and modules that can be readily
swapped out to accommodate different bus sizes and configurations.
Photo Credit: Terran Orbital
The following topics, among others, were discussed during the
Town Hall:
- The Company’s recently announced contract wins valued at over
$160 million across three separate programs and spanning two
continents over the past week;
- The Company’s active engagement on 80 opportunities relating to
more than 2,800 satellite buses for 40 different customers,
collectively valued at over $2.7 billion, not including additional
opportunities valued at $1.6 billion for its new Components &
Module segment.
- The Company’s current expectation that it will have sufficient
cash to cover capital investments and operations until becoming
cash-flow positive, which is expected in 2024;
- The independent directors’ continued support of Marc Bell as
Chief Executive Officer;
- The Company’s continued expectations to receive more than $180
million of customer payments from Rivada Space Networks and
continued, near-daily, engagement with Rivada; and
- The Company’s expectation to reduce its revenue guidance for
2023, to be announced at the next earnings call, to less than
previously announced guidance of at least $250 million, primarily
resulting from delays in payments from Rivada and resulting impacts
on expected timing of revenue recognition.
These significant achievements primarily reflect the Company’s
continued growth and excellence in providing innovative space-based
solutions. Terran Orbital’s commitment to advancing space and
satellite technology, as well as setting new standards every
decade, has earned the trust of a diverse range of customers
ranging from government to commercial.
“These awards are evidence of the hard work and dedication of
each Terran at Terran Orbital,” said Marc Bell, Co-Founder,
Chairman, and Chief Executive Officer at Terran Orbital. “We
received an overwhelming amount of questions and were able to
answer many of them during the meeting. We hope that our
transparency yesterday demonstrates our continued commitment to be
accessible to our shareholders; based on the feedback we received,
we plan to do another town hall in the future.”
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products
primarily serving the aerospace and defense industries. Terran
Orbital provides end-to-end satellite solutions by combining
satellite design, production, launch planning, mission operations,
and on-orbit support to meet the needs of the most demanding
military, civil, and commercial customers. Learn more at
www.terranorbital.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231027979251/en/
Media Contact Public Relations pr@terranorbital.com
949-508-8484
Investor Relations Contact Jonathan Siegmann
ir@terranorbital.com 949-202-8476
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