Terran Orbital (NYSE:LLAP) on Thursday held its first live shareholder town hall meeting at which CEO Marc Bell and lead independent director of the company’s board of directors Stratton Sclavos provided a financial, operational, and strategic update on the company.
A question-and-answer session was also held.
Among the topics discussed during the meeting were the company’s recently announced contract wins valued at more than $160 million and its active engagement on 80 opportunities related to more than 2,800 satellite buses for 40 different customers, valued at more an $2.7 billion.
Terran also outlined its expectation that it will have sufficient cash to cover its capital investment and operations until it becomes cash-flow positive, which is expected in 2024.
It also continues to expect more than $180 million in payments from Rivada Space Networks but anticipates reducing its revenue guidance for 2023 to less than its previously announced guidance of at least $250 million attributed to delays in payments from Rivada and the subsequent impact on the expected timing of revenue recognition.
Also discussed at the Town Hall was the independent directors’ continued support of Bell as Terran’s CEO.
“We received an overwhelming amount of questions and were able to answer many of them during the meeting,” Bell said.
“We hope that our transparency yesterday demonstrates our continued commitment to be accessible to our shareholders; based on the feedback we received, we plan to do another town hall in the future.”
Terran Orbital (NYSE:LLAP) is a leading manufacturer of satellite products primarily serving the aerospace and defense industries.
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