Voyager Technologies, Inc./TX VOYG
We are a purpose-built, innovation-driven defense technology and space solutions company focused on delivering mission-critical solutions across national security, space exploration and infrastructure and commercial space markets. Our company was purpose-built to address some of the most complex and consequential challenges facing the defense and space sectors, where technological leadership, operational execution and long-term resilience are essential. Our work is designed to strengthen national security, protect critical assets and enable sustained human and economic activity in space.
We design, develop and operate advanced systems and infrastructure that support defense, intelligence, civil and commercial missions. Our capabilities span communications and intelligence systems, missile-defense-enabling technologies, advanced propulsion and energetics, in-space infrastructure and end-to-end space mission services. These capabilities are organized across three operating segments: Defense & National Security, Space Solutions and Starlab Space Stations.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $166.4M | $144.2M | $136.1M | — |
| Cost of revenue | $136.5M | $109.3M | $108.3M | — |
| Gross profit | $29.9M | $34.9M | $27.8M | — |
| SG&A | $117.1M | $62.6M | $54.0M | — |
| Operating income | -$108.5M | -$48.4M | -$14.2M | — |
| Interest expense | $6.8M | $12.0M | $10.6M | — |
| Pre-tax income | -$112.8M | -$67.3M | -$24.9M | — |
| Income tax | $440.0K | $1.7M | $341.0K | — |
| Net income | -$104.8M | -$62.1M | -$25.4M | — |
| EPS, basic | -2.89 | -6.59 | -3.50 | — |
| EPS, diluted | -2.89 | -7.01 | -3.65 | — |
| Shares, diluted (wtd. avg.) | $40.2M | $12.7M | $12.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $491.3M | $55.9M | $30.3M | $32.1M |
| Receivables | $29.8M | $15.4M | — | — |
| Inventory | $3.8M | $1.5M | — | — |
| Total current assets | $581.3M | $101.6M | — | — |
| Property, plant and equipment | $164.3M | $49.4M | — | — |
| Goodwill | $157.7M | $46.5M | — | — |
| Other intangibles | $99.0M | $34.7M | — | — |
| Total assets | $1.05B | $247.6M | — | — |
| Accounts payable | $27.4M | $22.8M | — | — |
| Total current liabilities | $133.0M | $87.4M | — | — |
| Total liabilities | $620.9M | $187.7M | — | — |
| Retained earnings | -$385.9M | -$281.1M | -$216.8M | — |
| Total equity | $383.7M | -$69.7M | -$92.6M | -$68.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$60.9M | -$25.5M | -$15.4M | — |
| Depreciation and amortisation | $13.4M | $13.6M | $10.3M | — |
| Stock-based compensation | $18.9M | $3.8M | $2.7M | — |
| Capital expenditure | $144.7M | $82.7M | $17.2M | — |
| Investing cash flow | -$261.6M | -$27.8M | $11.6M | — |
| Financing cash flow | $757.8M | $79.0M | $1.9M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-016543.
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