Wildly missed revenue projections cast a long shadow over space firms that went public by merging with a SPAC as their shares continue to underperform in the market.
  •  zhunk   ( @zhunk@beehaw.org ) OP
    6•9 months ago

    Momentus … reported $299,000 in revenue for 2022, less than 1% of the $152 million it told investors to expect.

    That’s dizzyingly bad. And it was predictable, unless you listened to the SPAC subreddit…

    Astra and Satellogic are also rough. Virgin Orbit is dead. ASTS is another post-SPAC in this group that isn’t listed in the article and has low/no revenue.

    These should not be public companies. They were just desperate for money when it was cheap.