Transcript
Maria Varmazas (0:00)
Foreign you're listening to the N2K space network.
Frank Chimenti (0:09)
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Alice Carruth (0:57)
Today.
Maria Varmazas (0:57)
Is August 7th, 2025. I'm Maria Varmazas and this is T minus. T minus 20 seconds to Los T drifts to go for deploy. Neospace Group has officially launched Saudi Arabia's first National Earth Observation Data Program. Four RAFT and SAIC have been awarded the U.S. air Force Tactical Exploitation of National Capabilities Hope 2.0 contract. NASA has selected six companies to produce studies focused on lower cost ways to launch and deliver spacecraft of various sizes and forms to multiple, difficult to reach orbits. Intuitive Machines has signed a definitive agreement to acquire Kinetics One. Firefly Aerospace announced the pricing of its upsized IPO, while MDA Space, BlackSky and Redwire reported their Q2 findings. Financial updates Our guest today is Frank Chimenti, Director of Mechanical Satellite Solutions at Beyond Gravity. Frank joins our producer Alice Carruth to talk about satellite manufacturing on the Space Coast. Stay with us for more on that after today's intel briefing. Foreign it is Thursday, everybody. Hope you're having a good one. Thanks for joining me. We've got a lot to unpack on today's show, so let's dive in, shall we? We're kicking off with a roundup of space financial updates. First up, Firefly Aerospace, which rang in the bell at the New York Stock Exchange this morning as the company announced the pricing of its upsized initial public offering. Firefly is offering 1,926,000 shares of its common stock at a price of $45 a share. In addition, Firefly has granted the underwriters a 30 day option to purchase an additional nearly 3 million shares of its common stock at the IPO price, less underwriting and discounts and commissions, of course. The shares began trading on NASDAQ global market today, August 7th under the ticker symbol FLY, and the offering is expected to close tomorrow August 8th, subject to customary closing conditions. And speaking of financials, three big names in space filed second quarter financial updates in the last 24 hours. MDA Space reported revenues of $373.3 million, which is up 54% year over year. Earth observation company Blacksky reported revenue for the quarter was down to $22.2 million, compared to 24.9 million in the second quarter of 2024. But it's not all bad news, as Blacksky says their imagery and software analytical services grew to $18 million, and Redwire, which completed the acquisition of Edge Autonomy this quarter, reported revenues of $61.8 million for Q2. And you can dive into all of the line items on the full reports by following the links in our show. Notes Staying with Acquisition News Lunarlander company Intuitive Machines has signed a definitive agreement to acquire Kinetics and Kinetics is an Arizona based aerospace company with more than 30 years of experience delivering flight, proven deep space navigation systems, engineering, ground software and constellation mission design for the US Government and international customers. Intuitive Machines says the acquisition strengthens the company's position as a vertically integrated provider of end systems for the Moon, Mars and beyond. The acquisition is expected to close prior to the end of 2025, subject to customary closing conditions. NASA has selected six companies to produce studies focused on lower cost waste to launch and deliver spacecraft of various sizes and forms to multiple, difficult to reach orbits. The firm fixed price awards comprise nine studies with a maximum total value of approximately $1.4 million. The awardees are Aeroscience and Technology, Blue Origin, Firefly Aerospace, Impulse Space Rocket Lab and United Launch Services. Each of the six companies will deliver studies exploring future application of orbital transfer vehicles for NASA missions. NASA will use the findings to inform mission design, planning and commercial launch acquisition strategies for risk tolerant payloads and the studies will be complete by mid December. Raft, in partnership with Science Applications International Corporation, better known as SAIC, has been awarded the US Air Force Tactical Exploitation of National Capabilities or 10 CAP Hope 2.0 Award and the award supports the Air Force's continued efforts to accelerate the operationalization of national space based assets. The 10 cap mission is designed to bridge the long standing gap between high level space and intelligence systems and frontline warfighter operations. By leveraging existing national capabilities including satellite derived Data and Title 50 resources, 10Cap seeks to enhance situational awareness, reduce decision latency and enable more agile responses to to dynamic threat environments. Under the 10 Cap Hope 2.0 award, Raft will deliver a suite of enabling technologies that enhance the Air Force's ability to operationalize national space based intelligence. NEO Space Group, known as nsg, has officially launched Saudi Arabia's first national Earth Observation data platform and the platform is operated by Up42, a geospatial company recently acquired from Airbus, the platform provides users with access to high resolution satellite imagery, geospatial analytics and advanced AI powered tools from more than 80 global providers. It serves as a centralized hub for strategic sectors including energy, agriculture, urban planning, mining and environmental management. NSG says it's built on secure local infrastructure and is aligned with Saudi data regulations. The platform supports the kingdom's Vision 2030 goals by accelerating digital transformation and enhancing national capabilities in space and geospatial technologies. And that concludes today's Top five headlines. And this is where I bring in producer Alice Carruth and ask hey Alice, what other stories are we watching today?
