Financial Data and Key Metrics Changes - The company reported a record revenue of $155 million for Q3 2025, reflecting a year-over-year growth of 48% and a sequential increase of 7.3% [5][30] - GAAP gross margin for Q3 was 37%, at the high end of prior guidance, while non-GAAP gross margin was 41.9%, exceeding previous expectations [31][39] - The company ended Q3 with a total backlog of approximately $1.1 billion, with launch backlog accounting for 47% and space systems for 53% [32] Business Line Data and Key Metrics Changes - The Space Systems segment generated $114.2 million in revenue, a sequential increase of 16.7%, driven by strong performance in satellite manufacturing [30] - The Launch Services segment reported $40.9 million in revenue, a decline of 12.3% quarter-over-quarter due to fewer launches caused by customer spacecraft delivery delays [31] Market Data and Key Metrics Changes - The company secured 17 dedicated Electron launches in just three months, indicating strong demand, particularly from international customers [9][30] - The company is seeing increased interest from space agencies, which are beginning to standardize on the Electron as a launch platform [45] Company Strategy and Development Direction - The company aims to maintain its position as a leading end-to-end space company, focusing on scaling products and services across launch and space systems [8][12] - The company is actively pursuing M&A opportunities, with over $1 billion in liquidity available for strategic acquisitions [12][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet demand for Electron, citing that over 90% of production is in-house [46] - The company anticipates a strong return to sequential revenue growth in the Launch Services segment in Q4, supported by a busy launch manifest [31][40] Other Important Information - The company is on track to launch its Neutron rocket in Q1 2026, with a focus on thorough testing and qualification processes [18][29] - The company has made significant investments in Neutron development, with capital expenditures expected to remain elevated [36][38] Q&A Session Summary Question: Can you share insights on the recent strong bookings and backlog for launches? - Management noted that the increase in backlog includes both strong commercial bookings and interest from space agencies standardizing on Electron as a launch platform [45] Question: How is the supply chain positioned to meet demand for Electron? - Management indicated that the supply chain is robust, with the factory designed to produce 52 rockets annually [46] Question: Can you clarify the one-time events affecting launch gross margins? - Management explained that the gross margin improvement was influenced by a mix of contract terms and the transition to over-time revenue recognition for certain missions [47][49] Question: What is the revenue recognition timeline for the SDA Tranche 2 award? - Management confirmed that revenue recognition is on track, with a pattern of 10% in the first year, followed by 40% in subsequent years [52][54] Question: What is the expected launch cadence for Neutron after its first flight? - Management stated that the launch cadence will depend on the success of the first flight, with a potential for three launches in the first year following the test launch [56][58] Question: How soon can Neutron launch after arriving at the complex? - Management indicated that the timeline depends on the outcomes of operational tests and any issues that may arise during the process [70][71] Question: Can you quantify the cumulative catch-up adjustment for the quarter? - Management clarified that a contract closeout contributed approximately $5 million to the quarter's results, alongside other adjustments related to revenue recognition [72][73]

Core Insights - EchoStar has sold $2.6 billion in spectrum to SpaceX, increasing its stake to approximately 3%, valued at $11 billion [1] - The transaction follows a previous $17 billion spectrum deal between EchoStar and SpaceX [1] - Charlie Ergen has returned as CEO of Dish Network, shifting focus from traditional pay-TV to wireless business [2] Financial Performance - Dish's total revenue decreased to $3.6 billion from $3.9 billion year-over-year [4] - Net losses expanded to $12.8 billion from $141.8 million, primarily due to a $16.5 billion impairment charge related to spectrum sales [4] - Dish added 159,000 subscribers in the quarter, despite a shrinking subscriber base, achieving a churn rate of 1.3% [3] Strategic Direction - The traditional pay-TV segment is no longer a strategic priority for Dish, as the company pivots towards wireless services [3] - Ergen expressed optimism about the partnership with SpaceX, highlighting their effectiveness as a vendor [5][6] - SpaceX is viewed as a leader in space exploration, with Ergen noting its growing competitive advantage over rivals, particularly China [7]

Starlink serves the most remote and underserved areas.Also the Starlink service is funding the mission to Mars. https://t.co/YINt63SsWS ...

RT Sundar Pichai (@sundarpichai)Our TPUs are headed to space!Inspired by our history of moonshots, from quantum computing to autonomous driving, Project Suncatcher is exploring how we could one day build scalable ML compute systems in space, harnessing more of the sun’s power (which emits more power than 100 trillion times humanity’s total electricity production).Like any moonshot, it’s going to require us to solve a lot of complex engineering challenges. Early research shows our Trillium-generation TPUs (o ...

Space Exploration & Leadership - Jared Isaacman expresses gratitude to President @POTUS and @SecDuffy for the opportunity to serve the country under their leadership [1] - Isaacman acknowledges the overwhelming support from the space-loving community and commits to meeting expectations [1] - The speaker believes these are the most exciting times since the dawn of the space age, anticipating the realization of a long-awaited future [2] - NASA, along with commercial and international partners, has a significant responsibility to inspire the world to achieve ambitious goals in space [3] - The speaker emphasizes the importance of undertaking bold endeavors in space to improve life on Earth and challenge future generations [3] - The speaker envisions NASA as a history-maker, not just a caretaker of history [3] Vision & Inspiration - The speaker addresses innovators, scientists, and dreamers, highlighting the return to the Moon and journeys beyond [2] - The speaker calls for inspiring the world to achieve the near-impossible in space [3] - The speaker expresses hope that America will lead the greatest adventure in human history [4]

Starlink service is funding the mission to Marshttps://t.co/tmBYqId1gq ...

1 0 S200 मोटर्स इग्नाइटेड प्लस 5 सेकंड्स एस बूस्टर्स का सफलतापूर्ण प्रज्वलन और एलवीएम3 एम5 का उत्थापन द्वितीय प्रमोशन मंच ने. ...

3 2 1 0 S200 मोटर्स इग्नाइटेड प्लस 5 सेकंड्स S200 बूस्टर्स का सफलतापूर्ण प्रज्वलन और एलवीएम3 एम5 का उत्थापन द्वितीय प्रमोशन मंच से। वी हैव अ मैग्निफिसेंट लिफ्ट ऑफ द एलवीएम3 एम5 सीएमएस03 मिशन इन द एयर। द साइमलटेनियस ट्रस्टिंग ऑफ द ट्वीट एस 200 मोटर्स इज इन साइड टू बी [संगीत]. ...

Moonbase Alpha! https://t.co/SoTlsZcj9wJohn Kraus (@johnkrausphotos):This is a real photo, not AI, of the Moon rising behind Starship.Let’s go to the Moon again. Let’s go and stay.Let’s go build Moon Base Alpha!Starship will do so 🚀 https://t.co/SS0DrSdAgI ...

RT Steve Jurvetson (@FutureJurvetson)Starship really is that spacious... I've climbed through the mockup. Skylab comparison below. We can now establish a permanent human presence on the moon. Imagine seeing their lights from Earth each night... inspiring our spacefaring dreams.Ad Lunae 🌖 That's Latin for LFG! ...