In order to become multi planetary we need rapid reusable rockets.Starship is the first ever rocket designed to get us to Mars. https://t.co/uJcuROdANh ...

Industry Overview - The reusable rocket industry is characterized by a dramatic cost decline, leading to business model changes and significant opportunities [1] - SpaceX has a 10-year lead in reusable rocket technology, consistently reducing launch costs through improved refurbishment and reuse [3][4] - Lower launch costs are enabling new opportunities in low Earth orbit (LEO) [9] Market Trends & Opportunities - The industry identifies a $130 billion annual revenue opportunity in space, primarily driven by global broadband and direct-to-device capabilities [13] - Direct-to-device (smartphone to satellite connectivity) is estimated to be a $48 billion opportunity, assuming $0.50 per month from 8 billion cell phone subscribers [15] - Broadband access for households, RVs, boats, aircraft, and ships represents a $40 billion opportunity [16] Company Updates & Competitive Landscape - Blue Origin and Rocket Lab are developing reusable rockets, aiming to launch and reuse them [6][7] - Starlink and T-Mobile launched direct-to-device service in July [18] - Firefly went public, increasing the number of space companies available for public investment [20] Technological Advancements - Low Earth Orbit (LEO) has opened up due to declining launch costs, enabling applications like high-speed internet via satellites [9][11] - Starlink Mini offers easy setup and reliable high-speed internet [12]

For everyone who claims the United States can not manufacture anything, remember that America has produced the only two companies in human history that can launch reusable rockets.Incredible. ...

Mission and Technology - Blue Origin successfully launched its New Glenn rocket, a crucial test for the company's ambition to challenge SpaceX [4] - The rocket reached Max-q, a critical point in the launch [5][6] - The first stage successfully landed on a barge, a significant milestone for reusability [9][24] - The mission included deploying spacecraft to study solar winds interacting with Mars [5] Market and Competition - New Glenn is key to clearing Blue Origin's $10 billion backlog of customer contracts [18] - Blue Origin aims to compete with SpaceX in the launch market [19][21] - Rocket Lab USA is also a competitor in the launch market, particularly for low earth orbit satellites [21][31] - The increasing competition in the space industry is creating more opportunities for everyone [33][34] Industry Trends and Future - The space program is evolving from government-led to more private industry involvement [35] - The industry is still in its early stages with much more potential to come [32] - NASA is pivoting in a new direction, and the new administrator's business acumen may lead to increased private sector collaboration [35][36][37]

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]

Space Exploration & Technology - Elon Musk is teaching his son, Little X, about "Rapidly Reusable Rockets" [1] - The focus is on reusable rocket technology [1]

Rocket Technology - SpaceX is developing fully and rapidly reusable rockets [1] - The industry considers fully reusable rockets as a significant advancement [1]

“Starship is 2.5 times the thrust of a Saturn V. Saturn V was the largest rocket ever to reach orbit. This is 2.5 times more power than that, and we build one a month. And they're meant to be reusable.”Elon Musk https://t.co/PzIHF8b8ut ...

Space Exploration & Technology - Starship is expected to be caught this year [1] - A series of improvements are planned to make Starship fully and rapidly reusable [1]

“Starship is 2.5 times the thrust of a Saturn V. Saturn V was the largest rocket ever to reach orbit. This is 2.5 times more power than that, and we build one a month. And they're meant to be reusable”https://t.co/PzIHF8aAEV ...