Transcript
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You're listening to the N2K space network.
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Today is November 18th, 2025. I'm Maria Varmazes and this is T minus.
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T minus 20 seconds. Los T Drift.
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5 the first ever alleged space crime is no more lean space raises 10 million euro to scale software defined satellite operations. The US Space Force publishes Vector 2025 guidance on force design and war fighting Ursa major hits a $600 million valuation after a $100 million Series E1 York Space Systems files for an IPO after a major revenue. Today's guest is Michael Anderson, co founder and CEO of Seagate Space, telling me all about the unique challenges and opportunities ahead for sea based space launches. That is after today's headlines. Stay tuned. Foreign. Thank you for joining me on this Tuesday. Let's dive into today's Intel Briefing. First up, satellite manufacturer York Space Systems has filed to go public in the United States, according to the company's SEC submission reported by Reuters. In its IPO filing, York disclosed $280 million.9 million in revenue for the first nine months of 2025, which is up from $176.3 million during the same period last year and that is a 59% increase in a year over year period. The company also reported a net loss of $56 million in 2025 as of September 30, which is a comparative decrease in loss compared to last year, which saw $73.6 million in net loss. York Space Systems builds small satellites for government and commercial customers and saw a more than $1 billion valuation back in 2022. The company is planning to list on the New York Stock Exchange under the ticker symbol yss. It is possible that we could see York go public as early as December, but York did not disclose the size or confirmed timing of the offering, and their filing confirms intent to raise capital to expand production capacity and meet growing demand. Next up According to a new story from Bloomberg, Colorado based rocket propulsion startup Ursa Major has secured additional funding that places its valuation at US$600 million, and that valuation comes as Ursa Major announces that it has raised $100 million in a series E funding round. Their new investment will accelerate development of the company's next generation propulsion systems, including its liquid engines and solid rocket motor product lines. Ursa Major says the funding will help scale production capacity and support U.S. government and commercial customers who are seeking independent, commercially developed propulsion alternatives. Ursa Major also highlighted growing demand for domestic propulsion solutions as launch providers and defense programs expand. According to the company's announcement, funds will also go toward advanced manufacturing and testing infrastructure to shorten development timelines and increase responsiveness for future missions. The US Space Force has published a document that they are calling Vector 2025 and it is new service wide guidance outlining how the branch intends to develop, organize and operate forces over the next several years. And according to this publicly released guidance, Vector 2025 is designed to unify modernization, operational concepts and readiness under four functions and those would be force design, force development, force generation and force employment. The US Space Force document explains how it is preparing its documents for contested space operations, strengthening its partnerships, updating its training pipelines and improving its data integration across missions. And and you can read the publicly released Vector 2025 for yourself. Of course the PDF is linked in our show Notes for you. It's a 12 page document, very high level. So as you might imagine, the guidance in there isn't traditional strategy. Instead it's more of a framework aligning the Space Force's evolution as a warfighting organization. Again, link is in the show notes if you would like to give it a read. Checking in with the European space scene now, Strasbourg based satellite operations technology provider leanspace region raised 10 million euros in a Series A round from investors based both in Europe and the United States. The funding raise will be used to expand LeanSpace's Cloud Native Mission operations platform and expand internationally. LeanSpace says it is building the foundation for software defined satellite operations enabling enterprise and institutional customers to configure, manage and scale missions through a fully modular API driven architecture. In their announcement about their new Series A, leanspace also noted seeing increased demand for flexible integrated ground segment software as constellations grow more complex and operators seek digital transformation across mission operations. And for our last story today, it's time to retire a lot of people's favorite unusual space fact the first crime ever committed in space wasn't, and that's official as of today. Former Air Force intelligence officer Summer Heather Worden has pleaded guilty to lying to law enforcement after falsely accusing her estranged wife, NASA astronaut Anne McClain, of illegally accessing her bank account from space. Worden now faces up to five years in prison and a fine of up to $250,000. And her guilty plea marks the end of a years long legal dispute between Worden and astronaut McCl, whose career includes service in Iraq, aviation experience totaling more than 2,000 flight hours and two missions to the International Space Station. Worden had accused McClain in 2019 of guessing her password and improperly entering her bank account during McClain's ISS mission, prompting investigations by the Federal Trade Commission and NASA's Inspector General and leading to many breathless headlines about space crime. Well, federal investigators determined that Worden had previously granted McLean access to the accounts as part of their shared finances, so no space crime ever occurred. Worden will be sentenced on February 12, 2020. And those are today's headlines for you. Links are all in the Show Notes, including again that Vector 2025 document from the U. S Space Force if you would like to read it in full. And of course, we always have lots more that we're looking at that we include in the show notes for your edification and delight. To tell us more about what's in there for you today, my colleague from the Cyberwire Daily host Dave Bittner is here to tell us more. Over to you Dave.
