York Space Systems, Inc. operates as a space and defense prime providing a comprehensive suite of mission-critical solutions for national security, government ...
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Operator: Hello, everyone. Thank you for joining us, and welcome to the York Space Systems Second Quarter 2026 Earnings Call. [Operator Instructions] I will now hand the conference over to Christopher Evenden, Vice President of Investor Relations. Chris? Please go ahead. Christopher Evenden: Hello, everyone, and welcome to York Space Systems Second Quarter 2026 Earnings Call. With me on the line are Dirk Wallinger, our CEO; and Brian Frantz, our Chief Accounting Officer and Interim CFO. Please note that our earnings release is available at ir.yorksystems.com. In addition, we have posted an earnings presentation to accompany our prepared remarks on the same website. Lastly, after this call, we will post a transcript of our prepared remarks and an audio replay of this call. For those listening to the rebroadcast of this call, we remind you that the remarks made herein are as of today, Thursday, August 13, 2026, and have not been updated subsequent to this call. During this call, we will refer to certain non-GAAP measures. A reconciliation of these measures to the most directly comparable GAAP measures can be found in our earnings press release. We will also make statements that are considered forward looking, including those related to our 2026 outlook, future revenue and growth prospects anticipated award times, pipeline, award opportunities, backlog, M&A strategy, inventory building and the benefits of our acquisitions. Listeners are cautioned that our forward-looking statements involve certain assumptions, and are inherently subject to risks and uncertainties that can cause our actual results to differ materially from our current expectations. We advise listeners to review the risk factors and other discussions included in our 2025 annual report on Form 10-K, the 2026 Form 10-Qs and our other filings with the SEC. After the completion of our prepared remarks, we will open the call for questions. Now I'll turn the call over to Dirk. Dirk Wallinger: Thanks, Chris. Hello, and welcome to York's Second Quarter 2026 Earnings Call. I appreciate you taking the time to join us. Before we get into the highlights from the quarter, I want to take a moment to introduce Brian Frantz, who will be stepping into the role of Interim Chief Financial Officer at York, Brian joined us as the Chief Accounting Officer and played a central role in our transition to a public company with direct responsibilities for financial reporting, internal controls and SEC compliance. Brian brings more than 3 decades of financial leadership experience across public and private companies, including prior service as CFO of RE/MAX International and Principal Financial Officer of Intrepid Potash. You'll hear from Brian on the quarter's financials a bit later in the call. Q2 was another strong quarter of execution for York. We launched 21 more satellites, added new customers and expanded our portfolio mission capabilities. Revenue for the quarter was $92.5 million, up 10% …
Est. EPS $-0.21 · Revenue $95.86M · 1 analysts
Est. EPS $-0.22 · Revenue $104.94M · 1 analysts
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| The total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). |
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Kevin A. Messerle | Chief Financial Officer | USD 641,311 | Male | 1975 | Active |
Devjyoti Rudra | Chief Supply Chain Officer | USD 569,768 |
| Report Date | Employees | Form Type | Filing Date | SEC Filing |
|---|---|---|---|---|
| Dec 31, 2025 | 710 | 10-K | Mar 20, 2026 |
| Male |
| 1972 |
| Active |
Dirk Wallinger | Founder, CEO, President & Director | USD 500,054 | Male | 1980 | Active |
Christopher Evenden | Vice President of Investor Relations | — | Male | — | Active |
Monica Palko | Chief Legal & Administrative Officer | — | Female | 1966 | Active |
Brian D. Frantz | Chief Accounting Officer | — | Male | 1963 | Active |
Est. EPS $-1.89 · Revenue $409.32M · 4 analysts
Est. EPS $-0.14 · Revenue $122.69M · 1 analysts
EPS $-0.12 · Revenue $106.25M
EPS $-0.84 · Revenue $253.53M
| $386.2M |
| +52.3% |
| -20.5% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $-84.5M | +14.5% | +65.7% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +19.5% | +52.8% | +25.9% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | -15.2% | +58.2% | +50.3% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | -21.9% | +43.9% | +56.9% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $-130.2M | -1059.6% | -19.5% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | -33.7% | -730.0% | -50.2% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 17.3% | -33.4% | -1.9% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 1.57x | +65.4% | -2.8% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $1.6B | +11.8% | +1.0% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | -0.67 vs -0.72 | +7.5% | -0.31 vs -0.21 | -45.1% |
| Revenue Surprise | $386.2M vs $383.5M | +0.7% | $92.5M vs $95.9M | -3.5% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Aug 7, 2026 | BlackRock Portfolio Management LLC | 10 percent owner | Common Stock | D | 200,170 | $10.99 |
| Aug 6, 2026 | BlackRock Portfolio Management LLC | 10 percent owner | Common Stock | D | 201,504 | $11.60 |
| Aug 5, 2026 | BlackRock Portfolio Management LLC | 10 percent owner | Common Stock | D | 116,162 | $13.49 |
| Aug 5, 2026 | BlackRock Portfolio Management LLC | 10 percent owner | Common Stock | D | 11,884 | $15.28 |
| Aug 5, 2026 | BlackRock Portfolio Management LLC | 10 percent owner | Common Stock | D | 116,162 | $13.49 |
