Voyager Technologies, Inc. (NYSE: VOYG) is a defense technology and space solutions company headquartered in Denver, Colorado. Founded in 2019 and formerly known as Voyager Space Holdings, Inc., the company changed its name to Voyager Technologies in February 2025. The company operates through three segments: Defense & National Security, Space ...Voyager Technologies, Inc. (NYSE: VOYG) is a defense technology and space solutions company headquartered in Denver, Colorado. Founded in 2019 and formerly known as Voyager Space Holdings, Inc., the company changed its name to Voyager Technologies in February 2025. The company operates through three segments: Defense & National Security, Space Solutions, and Starlab Space Stations. The Defense & National Security segment provides defense systems including solid propulsion subsystems, signal intelligence systems, radiation-hardened laser and RF communications, guidance and navigation systems, AI-powered edge computing, and space maneuver capabilities. The Space Solutions segment offers in-space propulsion systems, space infrastructure like the Bishop Airlock on the ISS, and space science services. The Starlab segment operates a commercial space station for permanent human presence. As of the latest data, the company has approximately 800 employees. CEO Dylan E. Taylor, also a co-founder, leads the company with a vision to shape the future of space. Financially, Voyager is in a growth phase with an enterprise value of about $2.65 billion, a market cap of $2.53 billion, and trading at $41.85 per share. The company is currently unprofitable with negative EBITDA and net margins, but it has a strong current ratio of 3.8 and substantial cash per share of $6.38. The company went public in June 2025. With a focus on mission-critical defense and space systems, Voyager aims to secure and benefit life on Earth through space innovation.
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InteranualYoY significa Year-over-Year (interanual). Compara el último valor anual con el valor anual anterior para mostrar la fortaleza de la tendencia a largo plazo.
TrimestralQoQ significa Quarter-over-Quarter (intertrimestral). Compara el último trimestre con el trimestre inmediatamente anterior para mostrar cambios de impulso a corto plazo.
IngresosEl dinero total que entró por la puerta principal al vender cosas, antes de pagar una sola factura. Piensa en esto como el gran total de cada compra con tarjeta de los clientes. (YoY compara el rendimiento de este año con el del año pasado, mientras que QoQ compara los tres meses actuales con los tres anteriores).
$166.4M
+15.4%
+49.7%
Beneficio netoEl resultado final absoluto. Si la empresa pagara a cada proveedor, empleado, banquero y recaudador de impuestos, este es el dinero real que queda en su bolsillo al final del día.
$-104.8M
-68.9%
-5.7%
Margen brutoEl margen básico. Si venden unas zapatillas de 100 dólares, este porcentaje indica cuánto de ese precio es ganancia justo después de pagar el caucho y los cordones, pero antes de pagar el alquiler de la tienda o los anuncios de televisión.
+12.8%
-47.0%
+151.5%
Margen operativoLa puntuación de eficiencia del 'trabajo diario'. De cada dólar que gasta un cliente, esto muestra cuántos centavos mantiene la empresa después de fabricar el producto Y pagar todos los gastos generales corporativos (como salarios, marketing y mantener las luces encendidas).
-61.9%
-84.3%
+21.0%
Margen netoEl porcentaje final que se lleva a casa. Cuando se eliminan todos los costos concebibles, impuestos y pagos de intereses, este es el número exacto de centavos que la empresa realmente se queda de cada dólar en ventas.
-63.0%
-46.3%
+29.4%
Flujo de caja libreEl santo grial del efectivo corporativo. Es el dinero físico gastable que queda después de que el negocio paga sus operaciones diarias Y compra las actualizaciones grandes y costosas (como nuevas fábricas o servidores) que necesita para sobrevivir. Este es el dinero 'libre' que pueden usar para pagar dividendos o recomprar acciones.
$-205.6M
-90.0%
+12.1%
Margen FCFLa tasa definitiva de conversión de efectivo. Muestra qué tan buena es la empresa para convertir ventas regulares directamente en efectivo frío, duro y gastable. Un porcentaje alto significa que el negocio es una auténtica máquina de imprimir dinero.
-123.6%
-64.6%
+41.3%
Deuda/PatrimonioEl indicador de riesgo financiero. Compara cuánto del imperio de la empresa se construyó con dinero prestado (préstamos) frente al dinero propio de los propietarios (accionistas). Un número alto significa que están muy apalancados y juegan un juego más arriesgado; un número bajo significa que juegan a lo seguro.
121.7%
-70.5%
+9.6%
Ratio corrienteLa verificación de supervivencia de 12 meses. Simplemente compara el efectivo que tienen ahora mismo (más cosas que pueden convertirse rápidamente en efectivo) con las facturas inmediatas que absolutamente deben pagar este año. Una puntuación superior a 1 significa que tienen suficiente en la billetera para cubrir las próximas facturas sin entrar en pánico.
4.37x
+276.0%
-16.9%
Activos totalesEl tamaño absoluto del imperio de la empresa. Agrupa absolutamente todo lo valioso que poseen, desde el efectivo en la caja registradora y el inventario en el almacén, hasta las patentes de software en la bóveda y las fábricas en el suelo.
Operator: Welcome to the Voyager Technologies Second Quarter 2026 Financial Results Conference Call. [Operator Instructions] I would now like to turn the call over to your first speaker today, Phil de Sousa, Voyager's Chief Financial Officer. Mr. De Sousa, the floor is yours.
Filipe de Sousa: Thank you, and good morning, everyone. I'm joined today by Dylan Taylor, Chairman and Chief Executive Officer. Today's call includes forward-looking statements, which involve risks and uncertainties detailed in our earnings materials and SEC filings, including the Risk Factors section of our annual report on Form 10-K. We undertake no obligation to update these statements. We will also discuss non-GAAP financial measures. A reconciliation of these measures is available in our earnings materials on our website. I'll now turn the call over to Dylan to begin with Slide 3.
Dylan Taylor: Thank you, Phil, and good morning, everyone. Our record second quarter results further validate what we've been discussing with investors over the past year, that demand across defense modernization, national security and the rapidly expanding space economy continues to accelerate, and Voyager is increasingly converting that demand into measurable growth. This quarter was a decisive milestone. We delivered record revenue, record bookings and entered the second half with record backlog. We recently completed the acquisition of Astrobotic and are today raising our full year revenue guidance. Collectively, these achievements demonstrate the strength of our strategy, the quality of our execution and the increasing relevance of our technologies across some of the world's highest priority growth markets. Revenue reached a record $53 million, increasing 51% sequentially as programs continued that transition from development into production. Just as importantly, bookings accelerated to a record $113 million, driving backlog to a record $336 million and providing increased visibility into both the remainder of 2026 and 2027. Perhaps the most significant takeaway is that demand continues to build faster than what we're converting into revenue. As bookings consistently outpace revenue, backlog continues to expand, reinforcing our confidence that today's growth is supported by durable customer demand rather than quarterly timing. The acquisition of Astrobotic significantly expands our participation across the lunar economy and provides another example of our disciplined approach to capital allocation. Combined with our existing capabilities, Astrobotic further strengthens Voyager's leadership position across the future of the space infrastructure market. Taken together, continued execution, accelerating demand, strategic capital deployment and increased revenue visibility, we are confident in raising our full year 2026 revenue guidance to $275 million to $305 million, representing growth of approximately 66% to 84% over last year. Turning to Slide 4. The wide breadth of our bookings this …