Terran Orbital records higher revenues as strategic review continues

WASHINGTON — Terran Orbital reported higher revenues but a significant loss in 2023 as it continues to evaluate options after a takeover bid from Lockheed Martin.
The smallsat manufacturer released its 2023 financial results April 1, reporting revenue for the year of $135.9 million, an increase of 44% over the $94.2 million in revenue the company reported in 2022.
Despite the increase in revenue, Terran Orbital still reported a net loss of $151.8 million for the year, down only slightly from the $164 million net loss the company had in 2022. It has an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $77.4 million in 2023, slightly worse than the $69.5 million adjusted EBITDA loss in 2022. The company ended 2023 with $71.7 million of cash and equivalents on hand, compared to $93.6 million at the end of 2022.
The company credited the increase in revenue to “continued and increased level of progress made in satisfying our cust...

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