Core Insights - The space economy is experiencing significant growth, driven by innovation and increased investor interest, with the S&P Kensho Space Index outperforming the S&P 500 by adding 65.62% over the past year compared to the S&P 500's 13.66% [1] Investment Trends - Global space-tech investment is projected to accelerate in 2025, with private funding increasing by 48% to $12.4 billion, and the U.S. capturing nearly 60% of this funding due to demand for launch services and defense programs [2][4] - The evolving nature of modern warfare and advancements in drone technology are prompting nations to invest more in space-based systems to enhance military capabilities [5] Government Initiatives - The U.S. government has elevated space as a core national security and economic priority, with an executive order aimed at returning humans to the Moon by 2028 and strengthening defenses against space-based threats [6] Market Dynamics - A potential SpaceX IPO could serve as a significant catalyst for the space sector, potentially influencing market dynamics and attracting new investment into the industry [7] Investment Vehicles - Investors are encouraged to explore ETFs focused on the space economy, such as Procure Space ETF (UFO), ARK Space & Defense Innovation ETF (ARKX), and SPDR S&P Kensho Final Frontiers ETF (ROKT), which offer distinct long-term growth potential [8] - ARKX is noted for its liquidity and largest asset base of $767.1 million, while ROKT is highlighted as the most cost-effective option for long-term investing with an annual fee of 0.45% [9]

Core Insights - Helio Corporation has appointed Vikas "Vik" Parti as an independent director and Chairman of Intellectual Property, enhancing its leadership in intellectual property strategy [1][6] Company Overview - Helio Corporation, founded in 2018, focuses on space-based energy systems, aiming to capture solar energy beyond Earth's atmosphere and deliver it as carbon-free electricity [7] - The company has developed proprietary systems and advanced engineering solutions for the space industry, collaborating with various space agencies and organizations [7] Intellectual Property Strategy - The company is entering a critical phase in the space industry, emphasizing the importance of intellectual property as launch costs decline and commercial activities increase [3] - Mr. Parti will operationalize an intellectual property strategy that aligns with Helio's technical roadmap, ensuring the growth of its patent portfolio alongside engineering milestones [4] - Helio aims to convert its technical expertise into economic value through a robust patent portfolio, supporting long-term partnerships and commercialization efforts [5] Future Directions - The company is developing an IP roadmap that runs parallel to its product roadmap, enhancing differentiation and expanding licensing opportunities as the space economy evolves [4] - A defensive "picket fence" of patents will be established to support strategic partnerships and sustainable revenue streams [5]

Core Viewpoint - Rocket Lab is experiencing significant growth due to substantial contracts and an expanding backlog, positioning itself as a key player in the space economy, but its future stock performance may hinge on one critical factor in 2026 [1] Group 1: Company Performance - Rocket Lab has secured billion-dollar contracts, indicating strong demand and confidence in its services [1] - The company is achieving rapid launch success, contributing to its competitive edge in the industry [1] Group 2: Market Position - The growth in Rocket Lab's backlog suggests a robust pipeline of future projects, enhancing its market position [1] - The valuation of Rocket Lab is increasing, which presents both opportunities and risks for investors as the stock price rises [1]

Table of Contents As filed with the Securities and Exchange Commission on January 16, 2026. No. 333-291581 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Yellowstone Midco Holdings II, LLC to be converted as described herein to a corporation named York Space Systems Inc. (Exact name of registrant as specified in its charter) Delaware 3761 39-4190941 (State or other jurisdiction of incorporation or or ...

Core Insights - The PatentVest Pulse report analyzes the competitive landscape of the $1.8 trillion space economy, focusing on the intellectual property (IP) portfolios of leading companies like SpaceX, Blue Origin, and Rocket Lab [1][2] - The report emphasizes the importance of patent data in assessing the long-term value and IPO readiness of space companies, highlighting that public markets favor defensible advantages over mere narratives [2] Company Analysis - SpaceX is rumored to be pursuing a historic IPO, and the report suggests that its patent portfolio indicates a shift towards Starlink as its core business rather than just launch services [5] - Blue Origin, backed by Jeff Bezos, is establishing early IP positions in future cislunar markets, indicating a strategic focus on emerging opportunities in space [5] - Rocket Lab's growth is significantly dependent on its acquired intellectual property, showcasing the importance of strategic acquisitions in the competitive landscape [5] Industry Trends - The report notes that China and state-backed entities are dominating global launch-related patent filings, which could create competitive constraints for Western companies in the space sector [5] - The analysis of over 1,450 launch-related patent families provides insights into competitive risks and category ownership, essential for investors and stakeholders in the rapidly expanding space economy [2]

Group 1 - Thematic exchange-traded funds (ETFs) are experiencing a resurgence, with the Procure Space ETF (UFO) showing significant growth, currently managing over $240 million in assets [1] - Thematic funds serve as satellite allocations in investment portfolios, complementing traditional growth exposure and catering to investor interests, with a noted increase in demand for technology-focused thematic ETFs [2] - UFO aims to track the S-Network Space Index, which includes companies involved in the space economy, such as SiriusXM Holdings and Garmin, highlighting the diverse applications of space technology [3] Group 2 - UFO had a remarkable performance in 2025, gaining nearly 70%, and outperformed other diversified thematic ETFs, indicating the potential for passive funds in a market driven by active demand [4] - The growing interest in thematic ETFs and the expanding space industry suggest a promising outlook for UFO in 2026, making it a fund to watch for investors [5]

Industry Overview - Rising global demand for commercial satellites, particularly for communications and climate monitoring applications, has increased investor interest in space-focused companies [2] - Increased government investment in advanced space-based defense capabilities is accelerating growth across the broader space economy [2] Company: Planet Labs (PL) - Planet Labs operates the largest fleet of Earth-observation satellites globally, generating revenues through fixed-price subscriptions and usage-based contracts [3][4] - The company is focusing on securing large government and defense contracts for long-term stability while also targeting growth in the commercial sector [5] - PL's backlog reached $734.5 million at the end of fiscal Q3 2026, a 216% year-over-year increase, providing solid revenue visibility [6][9] - Despite a 72.6% increase in shares over the past three months, PL has been unprofitable with negative EBITDA and no near-term rebound expected [6][18] - The Zacks Consensus Estimate for PL's 2026 revenues implies a year-over-year increase of 26.2%, while EPS is expected to decrease by 78.4% [13] Company: Redwire Corporation (RDW) - Redwire focuses on optimizing its operational footprint and making targeted investments in critical locations, enhancing operational efficiency and alignment with government priorities [7] - The company has a diversified portfolio of space infrastructure offerings, enabling competition across national security, civil, and commercial space markets [8] - RDW's backlog totaled $355.6 million as of September 30, 2025, indicating solid demand visibility [12] - For 2025, RDW expects revenues between $320 million and $340 million, benefiting from recent acquisitions and international growth [9][12] - RDW shares have risen 11.5% over the past three months, reflecting improving investor sentiment despite ongoing unprofitability [12][18] - The Zacks Consensus Estimate for RDW's 2025 revenues implies a year-over-year increase of 46.2%, with EPS expected to increase by 78.3% [15] Valuation Comparison - PL is trading at a forward sales multiple of 21.49, significantly above its three-year median of 3.61, while RDW's forward sales multiple is at 3.67, higher than its median of 1.2 [15]

Industry Overview - The global space economy is rapidly evolving, expanding from rockets to a comprehensive economy that includes launch services, satellites, and communications, with broader applications anticipated for the future [1] - Space is expected to be a significant theme for investors as 2026 approaches, particularly with rumors of SpaceX potentially going public this year, which could result in a record $1 trillion initial public offering [1] Company Highlights - Rocket Lab has established itself as the second-most-used space launch company in the United States, specializing in launching small satellites with its Electron rocket, which has completed 81 launches to date [4] - The company aims to enhance its capabilities with the upcoming launch of its medium-lift rocket, Neutron, which can carry payloads approximately 40 times larger than the Electron, positioning Rocket Lab to compete more effectively with SpaceX's Falcon 9 [5] - Rocket Lab's space systems business has generated $93.7 million in gross profit through September 30, focusing on designing and manufacturing spacecraft components [6] - The company has a promising future with a backlog of over $1 billion in future revenue from contracts, including $586 million from its space systems business [7] Other Notable Companies - AST SpaceMobile is developing satellites aimed at delivering global connectivity through partnerships with major telecom operators [8] - Lockheed Martin holds significant government contracts for advanced satellite systems and NASA's Orion spacecraft [8]

Group 1 - The article provides a market analysis of Redwire Corp, highlighting its position in the space industry and recent developments [1] - Redwire Corp has been focusing on expanding its capabilities in satellite technology and space infrastructure, which are critical for future space missions [1] - The company reported a significant increase in revenue, with a year-over-year growth of 25%, reaching $150 million in the last fiscal year [1] Group 2 - The analysis indicates that Redwire Corp is well-positioned to capitalize on the growing demand for space-related services, driven by both government and commercial sectors [1] - The company has secured several contracts with NASA and private space companies, enhancing its market presence and revenue potential [1] - Future projections suggest that Redwire Corp's revenue could exceed $200 million in the next fiscal year, reflecting a strong growth trajectory [1]

Financial Performance - Redwire reported a net loss of $41.2 million, more than double the previous year's loss, but this should be viewed in the context of its growth strategy [1] - The company has a contracted backlog of approximately $355.6 million, indicating future revenue potential from signed contracts yet to be fulfilled [1] - Despite the loss, Redwire's financial performance suggests a transition from experimental phases to industrial-scale production, highlighting its ability to convert technology into recognized revenue [1] Market Activity - Redwire's stock price has increased by approximately 18% recently, driven by strong government defense contracts and a growing backlog of orders [2] - The company is seen as a foundational player in the space economy, focusing on infrastructure rather than just launch services [2] Strategic Positioning - Redwire is shifting focus from launch services to logistics, emphasizing its role in building critical technologies for space operations, such as solar arrays and docking systems [3] - The company has made strategic acquisitions, including advanced drone capabilities, allowing it to penetrate the national security and defense sectors [5][7] Industry Trends - The global space economy is shifting towards space infrastructure, moving away from the previous focus on high-profile launch providers [4] - Corporate leadership has shown confidence in the company's long-term value through recent open-market purchases of shares [4] Defense and International Contracts - The acquisition of Edge Autonomy has allowed Redwire to manufacture advanced Uncrewed Aerial Systems, tapping into significant U.S. and NATO defense budgets [7][8] - Redwire secured a contract to supply docking systems for the Nyx spacecraft, diversifying its revenue streams and embedding itself in the European supply chain [11] Insider Activity - CEO Peter Cannito purchased approximately 32,000 shares of RDW stock at an average price of $6.21, signaling confidence in the company's undervalued long-term prospects [13] - Other insiders have also purchased shares, indicating a consensus on the stock's investment potential [14] Infrastructure Focus - Redwire is positioned as a diversified defense and infrastructure contractor, providing essential tools for the future of space and defense [15] - The company is part of the U.S. government's Golden Dome missile defense initiative, creating a competitive advantage through its dual-domain technology [10]