Terran Orbital shares explosive growth and record-breaking achievements in 1Q
News Direct
Jun 16, 2023
–News Direct–
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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