LLAP · Terran Orbital Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $30.39M | $27.23M | - | $43.88M | $32.23M | $28.20M | - | $27.83M | $9.41M | $10.49M |
| Cost of Revenue | $27.57M | $33.39M | - | $34.19M | $31.43M | $29.60M | - | $8.77M | $25.04M | $9.73M |
| Gross Profit | $2.82M | ($6.16M) | - | $9.69M | $802.0K | ($1.40M) | - | $1.49M | ($3.67M) | $760.0K |
| R&D | $3.90M | $3.40M | - | $3.80M | $5.20M | $7.50M | - | $5.50M | $4.30M | $340.0K |
| SG&A | $28.54M | $28.31M | - | $29.00M | $28.73M | $32.53M | - | $24.70M | $29.37M | $30.22M |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $1.80M | $2.39M | - | $2.30M | $1.80M | $919.0K | - | $885.0K | $661.0K | $846.0K |
| Operating Income | ($25.72M) | ($34.46M) | - | ($19.31M) | ($27.93M) | ($33.93M) | - | ($24.66M) | ($33.04M) | ($33.05M) |
| Interest Expense | $14.61M | $13.70M | - | $12.66M | $11.73M | $10.93M | - | $7.15M | $2.64M | $907.0K |
| Income Tax | $51.0K | $52.0K | - | $22.0K | ($17.0K) | $18.0K | - | $0 | $2.0K | $2.0K |
| Net Income | ($35.38M) | ($53.24M) | - | ($26.43M) | ($28.13M) | ($54.45M) | - | ($27.36M) | ($32.27M) | ($71.37M) |
| EPS - Basic | ($0.17) | ($0.26) | - | ($0.15) | ($0.18) | ($0.85) | - | ($0.16) | ($0.23) | - |
| EPS - Diluted | ($0.17) | ($0.26) | - | ($0.15) | ($0.18) | ($0.38) | - | ($0.16) | ($0.23) | - |
Balance Sheet
| Line item | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $30.59M | $43.70M | $71.66M | $38.68M | $48.55M | $57.43M | $93.56M | $35.82M | $62.30M | $76.65M |
| Accounts Receivable | $4.22M | $1.64M | $14.73M | $15.30M | $5.43M | $2.84M | $4.75M | $5.04M | $10.08M | $3.72M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $23.09M | $24.79M | $22.85M | $31.38M | $24.30M | $26.36M | $21.19M | $19.97M | $17.34M | $10.83M |
| Current Assets | $125.71M | $128.52M | $155.98M | $104.54M | $99.14M | $104.29M | $138.92M | $81.51M | $102.31M | $114.34M |
| Total Assets | $188.82M | $192.90M | $220.31M | $170.24M | $158.96M | $156.81M | $182.65M | $150.52M | $165.34M | $169.99M |
| Current Liabilities | $212.37M | $185.52M | $153.90M | $73.23M | $70.22M | $73.14M | $70.74M | $77.67M | $74.07M | $56.60M |
| Long-term Debt | $187.38M | $179.42M | $171.03M | $164.26M | $157.52M | $148.04M | $142.62M | $99.34M | $96.48M | $115.13M |
| Total Liabilities | $427.56M | $399.98M | $377.95M | $289.01M | $284.68M | $292.13M | $274.07M | $218.13M | $217.87M | $204.14M |
| Stockholders' Equity | ($238.74M) | ($207.08M) | ($157.64M) | ($118.78M) | ($125.72M) | ($135.32M) | ($91.42M) | ($59.40M) | ($47.29M) | ($27.09M) |
| Retained Earnings | ($601.63M) | ($566.25M) | ($513.01M) | ($470.17M) | ($443.74M) | ($415.61M) | ($361.17M) | ($328.19M) | ($300.83M) | ($268.56M) |
Cash Flow
| Line item | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | ($22.82M) | - | - | - | ($32.82M) | - | - | - | ($29.30M) |
| Investing Cash Flow | - | ($2.50M) | - | - | - | ($3.16M) | - | - | - | ($4.03M) |
| Financing Cash Flow | - | ($2.57M) | - | - | - | ($179.0K) | - | - | - | $82.69M |
| CapEx | - | $2.50M | - | - | - | $3.16M | - | - | - | $2.42M |
| Free Cash Flow | - | ($25.31M) | - | - | - | ($35.98M) | - | - | - | ($31.72M) |
Ratios
| Metric | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 9.3% | -22.6% | - | 22.1% | 2.5% | -5.0% | - | 5.3% | -39.0% | 7.2% |
| Operating margin | -84.6% | -126.5% | - | -44.0% | -86.7% | -120.3% | - | -88.6% | -351.2% | -314.9% |
| EBITDA margin | -78.7% | -117.8% | - | -38.8% | -81.1% | -117.1% | - | -85.4% | -344.2% | -306.9% |
| Net margin | -116.4% | -195.5% | - | -60.2% | -87.3% | -193.1% | - | -98.3% | -343.0% | -680.1% |
| Free cash flow margin | - | -92.9% | - | - | - | -127.6% | - | - | - | -302.3% |
| FCF / Net income | - | 0.48 | - | - | - | 0.66 | - | - | - | 0.44 |
| R&D / Revenue | 12.8% | 12.5% | - | 8.7% | 16.1% | 26.6% | - | 19.8% | 45.7% | 3.2% |
| SG&A / Revenue | 93.9% | 103.9% | - | 66.1% | 89.1% | 115.4% | - | 88.7% | 312.1% | 287.9% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -18.7% | -27.6% | - | -15.5% | -17.7% | -34.7% | - | -18.2% | -19.5% | -42.0% |
| Return on equity | 14.8% | 25.7% | - | 22.3% | 22.4% | 40.2% | - | 46.1% | 68.2% | 263.5% |
| Return on invested capital | - | - | - | -33.5% | -69.4% | -210.8% | - | -48.8% | -53.1% | -29.7% |
| Liquidity | ||||||||||
| Current ratio | 0.59 | 0.69 | 1.01 | 1.43 | 1.41 | 1.43 | 1.96 | 1.05 | 1.38 | 2.02 |
| Quick ratio | 0.59 | 0.69 | 1.01 | 1.43 | 1.41 | 1.43 | 1.96 | 1.05 | 1.38 | 2.02 |
| Cash ratio | 0.14 | 0.24 | 0.47 | 0.53 | 0.69 | 0.79 | 1.32 | 0.46 | 0.84 | 1.35 |
| Leverage | ||||||||||
| Debt / Equity | -0.78 | -0.87 | -1.08 | -1.38 | -1.25 | -1.09 | -1.56 | -1.67 | -2.04 | -4.25 |
| Debt / Assets | 0.99 | 0.93 | 0.78 | 0.96 | 0.99 | 0.94 | 0.78 | 0.66 | 0.58 | 0.68 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -1.8x | -2.5x | - | -1.5x | -2.4x | -3.1x | - | -3.5x | -12.5x | -36.4x |
| Equity multiplier | -0.79 | -0.93 | -1.40 | -1.43 | -1.26 | -1.16 | -2.00 | -2.53 | -3.50 | -6.27 |
| Liabilities / Assets | 2.26 | 2.07 | 1.72 | 1.70 | 1.79 | 1.86 | 1.50 | 1.45 | 1.32 | 1.20 |
| Efficiency | ||||||||||
| Asset turnover | 0.16 | 0.14 | - | 0.26 | 0.20 | 0.18 | - | 0.18 | 0.06 | 0.06 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 51d | 22d | - | 127d | 62d | 37d | - | 66d | 391d | 129d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 306d | 271d | - | 335d | 282d | 325d | - | 831d | 253d | 406d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -5.7% | -3.4% | - | 57.7% | 242.6% | 168.7% | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 251.9% | -340.0% | - | 551.7% | - | - | - | - | - | - |
| Operating income growth (YoY) | 7.9% | -1.6% | - | 21.7% | 15.5% | -2.7% | - | -1443.2% | -16528.7% | -78731.2% |
| Net income growth (YoY) | -25.8% | 2.2% | - | 3.4% | 12.8% | 23.7% | - | -1877.0% | -459.5% | - |
| EPS growth (YoY) | 5.6% | 31.6% | - | 6.3% | 21.7% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | 29.7% | - | - | - | -13.4% | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -89.9% | -53.0% | -72.4% | -100.0% | -165.9% | -399.5% | -220.5% | -122.3% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2023-12-31.
Business segments
$129.21M totalUSGovernment Contracts$107.75M · 83.4%
Commercial Contracts$14.53M · 11.2%
Foreign Government Contracts$6.92M · 5.4%
Product / service
$135.91M totalMission Support$130.58M · 96.1%
Studies Design And Other$2.90M · 2.1%
Launch Support$1.33M · 1.0%
Operations$1.10M · 0.8%
Geographic
$15.64M totalEurope$8.24M · 52.7%
Non Us$4.33M · 27.7%
US$3.08M · 19.7%
Peer comparison
Same SIC group: Guided Missiles & Space Vehicles & Parts
Comparing Terran Orbital Corp against the 5 most active filers in the same SIC group.