Over the past few years, space companies have blasted off in popularity. It seems that every business is trying to get in on the latest space race.
Unfortunately, the space industry hasn’t quite reached the success it’s been aiming for…
Leaving many company’s hopes and dreams crashing back down to earth.
Space Companies Planning For Infinity And Beyond.
While space-related investments have gone up in 2023, they haven’t gone as far as analysts have anticipated.
CREATING NEW, DISTINCT SPACE COMPANIES THAT CAN ACTUALLY STAND THE TEST OF TIME IS THE BIGGEST OBSTACLE TO THEIR SUCCESS.
Many analysts thought that the latest space boom would’ve crashed and burned sooner and with greater severity…
But these three companies are definitely feeling the heat.
With plans to create a satellite constellation as a data platform for customers, Sidus launched its IPO in late 2021…
When it was valued at over $200 million.
But in the years since, not unlike other space companies…
THEY REPORTED MINIMAL GROWTH AND ANNUAL NET LOSSES.
As for their satellite plans, they had originally scheduled their launch for late 2022 but have since been repeatedly put off.
The latest date they’ve announced for their launch is this upcoming March.
Before their launch, however, the company raised minimal funds through public stock offerings…
Yet it still might not be enough to save them.
Sidus is currently valued at $9 million.
At its height, Astra was valued at over $2.5 billion.
Yet, since last October, the company has essentially been out of cash and in and out of financing rounds.
Since 2022, the rocket-launching business has been on hiatus. Currently, the only thing that might save Astra is taking the company private.
Right now, this space company is valued at under $50 million, a steep decline from its prime.
In a move more than slightly humiliating…
Momentus already disclosed to shareholders that they are quickly running out of money….
They disclosed the unfortunate news after canceling what was meant to be their latest mission.
Valued at over $1 billion in 2021, now it’s worth a measly $5 million, and its value is quickly diminishing.
After laying off 20% of their workforce (again not unheard of for space companies), if they don’t find an eager buyer…
THEY FACE IMMINENT BANKRUPTCY.
What Lies On The Dark Side Of The Moon For These Space Companies?
It’s clear that these companies are running their engines on fumes.
While the whole space industry is straggling along…
It seems like what we’re seeing with these three companies is just some space-themed survival of the fittest.
Will these companies be able to recover their losses and reach for the stars…
Or should they get their heads out of the clouds and quit while theyre ahead?
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