Terran Orbital shares explosive growth and record-breaking achievements in 1Q
New York
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June 16, 2023 12:48 PM Eastern Daylight Time
Terran Orbital CEO Marc Bell joins Proactive's Natalie Stoberman to share the company's recent accomplishments from its first quarter financial results, to receiving a $37.1 million direct offering in addition to its record-breaking milestone for the Pathfinder Technology Demonstrator 3 (PTD-3) satellite.
Bell says the company experienced tremendous growth in 1Q with $28.2 million in revenue across 20 programs. The company's backlog surged to over $2.5 billion, a 1,300% increase, along with receiving an $87 million contract for 16 more satellites.
To support further expansion, Bell says the company raised $37.1 million through a registered direct offering.
And last but not least, the Terran Orbital-developed Pathfinder Technology Demonstrator 3 (PTD-3) satellite enabled a successful 200 gigabits per second space-to-ground optical link. This recent collaboration with NASA on the Pathfinder Technology Demonstrator 3.0 Terran Orbital showcased the TBIRD’s data transmission of 1.4 terabytes of test data to a single ground station in a pass that lasted less than five minutes – a record breaker at the time in terms of both speed and data transmission quantity.
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