We're now at least two years on from when a slew of space companies went public during the SPAC frenzy.
Angela Weiss | AFP | Getty Imagesiew into the business of space exploration and privatization, delivered straight to your inbox. CNBC's Michael Sheetz reports and curates the latest news, investor updates and exclusive interviews on the most important companies reaching new heights.
Their valuations have been slashed and, for most, their financial results are way off target. Going public looks more like a Game of Thrones "Red Wedding" than the blissful nuptial celebrations I'm sure many company leaders hoped for.together these companies as "space SPACs." Yes, it's the vehicle through which they all went public, but no, it's not their defining feature.these debutants were facing.
Back in March 2021 when both companies announced they were going public, Redwire forecast 2023 revenue of $237 million and Rocket Lab projected $267 million. At the midpoint of Redwire's most recent range, their revenue this year will come in at $235 million.
: Derek Tournear, head of the Space Development Agency, took to LinkedIn to defend how his division is challenging the current methods of military purchases, saying he "cannot stand by and watch wasteful, thoughtless procedures that will only benefit our enemies by delaying delivery to the warfighter." –with the company having completed its fifth mission in five months.
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