Strong Revenue Growth
Total revenue was up 15% when adjusting for the planned wind down of the NASA services contract. Defense and National Security revenue increased significantly by 31% year-over-year.
Robust Pipeline and Backlog
The company has a robust pipeline of $3.6 billion in qualified opportunities. Backlog expanded 10% sequentially to $189 million.
Strategic Acquisitions and Investments
Voyager acquired BridgeComm's optical communications technology and made a minority investment in Latent AI. The acquisition of ElectroMagnetic Systems and ExoTerra strengthens their technology stack in radar analytics and electric propulsion systems.
Starlab Milestones Achieved
Completed 2 additional development milestones for Starlab, with $4 million in milestone-based cash receipts from NASA. To date, 27 milestones have been completed under a $218 million funded Space Act Agreement.
Fortress Balance Sheet
Voyager maintains a strong financial position with $413 million in cash, $200 million in available credit, and no debt.