Voyager Technologies, Inc. Class A (VOYG) AI Stock Analysis

• Market Cap: $1.85B
• Dividend Yield: N/A
• Average Volume (3M): 956.11K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.66
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 514
• Sector: Industrials
• Sector Strength: 76
• Industry: Aerospace & Defense
• EPS (TTM): N/A
• Shares Outstanding: 53,211,075
• 10 Day Avg. Volume: 729,945
• 30 Day Avg. Volume: 956,110
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 23.52
• Enterprise Value/Gross Profit: 136.70
• Enterprise Value/Ebitda: -36.03
• 1Y Price Target: $46.63
• Price Target Upside: 45.90% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 48 Neutral
• Price Target: $39.00 ▲(22.03% Upside)

Voyager Technologies, Inc. is currently experiencing financial instability with increasing losses and negative cash flows. The technical indicators reflect a bearish trend, further impacting the stock's outlook. The absence of valuation metrics such as P/E ratio and dividend yield limits visibility into the stock's value proposition. The company's high leverage and reliance on external financing raise sustainability concerns.

Positive Factors

Defense and National Security

The Defense & National Security segment generated revenue of $35.2 million, surpassing market expectations of $25.7 million.

Earnings

Voyager Technologies reported a significant revenue beat, posting $45 million compared to the consensus estimate of $35 million.

Growth Opportunities

Voyager Technologies is exceptionally well-positioned for growth in defense with its Defense and National Security segment expected to outpace peer growth, driven by exposure to missile defense interceptors.

Negative Factors

Financial Performance

Voyager Technologies reported operating cash flow of negative $17 million, which was below the consensus estimate of negative $12 million.

Investment Risks

Investment in Voyager Technologies remains relatively risky due to underperformance on profit metrics and governance risks from the founder's control of voting power.

Project Execution Risks

A lot must go right to realize Starlab's potential.

Voyager Technologies, Inc. Class A Business Overview & Revenue Model

Company Description

Voyager Technologies, Inc. operates as a defense technology and space solutions company in the United States, Europe, the Middle East, and internationally. It operates through three segments: Defense & National Security, Space Solutions, and Starlab Space Stations. The Defense & National Security segment provides defense systems, such as missile defense interceptors, kill vehicles, and hypersonic missiles and reentry systems; signal intelligence systems, including software solutions that deliver critical intelligence to the modern warfighter; communication technologies comprising radiation-hardened laser and RF communications systems and advanced electro-optical and digital systems; and guidance, navigation, and control systems consisting of sun sensors, star trackers, and inertial measurement units, as well as artificial intelligence powered edge computing products. The Space Solutions segment offers advanced space technology systems, such as in-space propulsion systems with applications for orbital servicing, manufacturing, and deep space exploration; space infrastructure, including software solutions that deliver critical intelligence to the modern warfighter; and space science and mission management products. The Starlab Space Stations segment operates a commercial space station and provides continued permanent human presence in space. It serves defense, national security, and space industries. The company was formerly known as Voyager Space Holdings, Inc. and changed its name to Voyager Technologies, Inc. in February 2025. Voyager Technologies, Inc. was incorporated in 2019 and is headquartered in Denver, Colorado.

How the Company Makes Money

Voyager Technologies, Inc. generates revenue primarily through the sale of its software products and subscription-based services. The company's key revenue streams include licensing fees from its software solutions, recurring subscription fees for its cloud-based applications, and professional services such as consulting and implementation support. Additionally, Voyager Technologies leverages strategic partnerships with major IT firms to expand its market reach and enhance its product offerings, contributing to its overall earnings. The company's focus on innovation and customer-centric solutions plays a significant role in maintaining its competitive edge and driving revenue growth.

Voyager Technologies, Inc. Class A Financial Statement Overview

Summary

Voyager Technologies, Inc. faces significant financial challenges with rising losses and negative cash flows. Despite some revenue growth and increased equity, high leverage and negative margins indicate financial instability. The reliance on external financing raises concerns about sustainability.

Income Statement

Voyager Technologies, Inc. demonstrates a significant challenge in profitability, evidenced by a worsening Net Profit Margin from -18.7% to -43.0% and a decline in EBIT margin. Revenue growth is modest at 6.0%, but the increasing losses suggest operational inefficiencies.

Balance Sheet

The company's Debt-to-Equity ratio is high at 1.75, indicating substantial leverage, but there is a positive increase in Stockholders' Equity, showing some improvement in financial structure. The Equity Ratio is relatively low at 22.7%, suggesting limited asset backing by equity.

Cash Flow

Free Cash Flow has deteriorated by 232.0%, highlighting severe cash outflows, while Operating Cash Flow to Net Income ratio remains negative, reflecting operational cash challenges. The company relies heavily on financing activities to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023
Income Statement
Total Revenue	80.18M	144.18M	136.06M
Gross Profit	13.79M	34.91M	27.79M
EBITDA	-52.34M	-38.94M	-1.34M
Net Income	-58.32M	-62.07M	-25.44M
Balance Sheet
Total Assets	685.34M	247.60M	188.89M
Cash, Cash Equivalents and Short-Term Investments	468.93M	55.93M	30.28M
Total Debt	9.49M	98.22M	86.33M
Total Liabilities	99.57M	187.67M	158.60M
Stockholders Equity	554.72M	56.22M	30.28M
Cash Flow
Free Cash Flow	-88.77M	-108.20M	-32.59M
Operating Cash Flow	-30.90M	-25.50M	-15.38M
Investing Cash Flow	-27.16M	-27.77M	11.60M
Financing Cash Flow	470.93M	78.96M	1.93M

Voyager Technologies, Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCIG	72 Outperform	$29.41M	―	36.75%	―	―	―
Sector *	64 Neutral	$10.95B	16.37	8.81%	1.96%	2.68%	-15.33%
XPON	61 Neutral	$5.52M	―	-504.67%	―	68.33%	78.66%
HYFM	54 Neutral	$20.81M	―	-27.51%	―	-23.40%	13.78%
DFLI	50 Neutral	$20.59M	―	-3420.59%	―	4.80%	16.72%
VOYG	48 Neutral	$1.85B	―		―	―	―
AGRI	―	$3.67M	―	-206.56%	―	―	―