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Terran Orbital Corporation - LLAP STOCK NEWS

Welcome to our dedicated page for Terran Orbital Corporation news (Ticker: LLAP), a resource for investors and traders seeking the latest updates and insights on Terran Orbital Corporation stock.

Terran Orbital Corporation (symbol: LLAP) is a leading manufacturer of satellite products, offering comprehensive end-to-end solutions for the aerospace and defense industries. The company operates primarily in the United States and Europe, with the majority of its revenue generated from the U.S. market.

Terran Orbital's core business encompasses satellite design, production, launch planning, mission operations, and on-orbit support. Their services are tailored to meet the diverse needs of military, civil, and commercial customers, ensuring reliable and efficient satellite solutions.

Recent achievements include successful satellite deployments and strategic partnerships with top-tier aerospace and defense organizations. The company continues to innovate, focusing on the development of advanced satellite technologies to stay ahead in the rapidly evolving market.

Terran Orbital is engaged in several current projects, including the construction of cutting-edge satellites for high-profile clients and collaborations with government agencies to enhance national security capabilities. Financially, the company maintains a stable footing, backed by continuous revenue streams and a growing portfolio of contracts.

By leveraging its expertise and robust infrastructure, Terran Orbital aims to expand its market presence while delivering high-quality, reliable satellite products and services. Whether for defense, scientific research, or commercial applications, Terran Orbital remains at the forefront of satellite innovation.

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Tyvak International, a subsidiary of Terran Orbital (NYSE: LLAP), announced that its Milani satellite has successfully passed the Qualification and Acceptance Review. Delivered to the European Space Agency (ESA) in March 2024, the satellite completed rigorous system level testing with the Hera mothercraft at ESTEC. Milani is designed for visual inspection and dust detection of the Didymos asteroid post-DART impact. Scheduled for launch in late 2024, it will be one of ESA's first deep-space nanosatellites. Tyvak International managed the design, build, and mission operations. The team is now preparing for launch activities in September 2024, with an expected launch in October 2024.

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Terran Orbital (NYSE: LLAP), a leading provider of satellite-based solutions for aerospace and defense, has been awarded the 2024 'Best Business of the Year' by the Greater Irvine Chamber.

This accolade recognizes the company's dedication, innovation, and contribution to the local business community. Terran Orbital's COO Peter Krauss accepted the award, highlighting the team's resilience and commitment. The Greater Irvine Chamber awards companies that excel in performance and innovation, contributing significantly to Irvine's business community.

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Terran Orbital, a leading provider of satellite-based solutions, announced a Memorandum of Understanding (MOU) with Hanwha Systems. This agreement marks a significant step in their partnership, focusing on collaborative research and development of advanced solar and satellite technologies. The partnership aims to bolster defense capabilities in both the US and South Korea and expand each company's geographic presence. Terran Orbital and Hanwha Systems will share resources and knowledge to accelerate innovation and deliver cost-effective solutions. This collaboration positions both companies as leaders in the global satellite industry, with a focus on delivering cutting-edge technologies for defense and government projects.

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Terran Orbital (NYSE: LLAP) announced receiving a notice from the New York Stock Exchange (NYSE) on June 17, 2024, due to non-compliance with Section 802.01C of the NYSE Listed Company Manual. The company’s stock price averaged below $1.00 per share over a consecutive 30-day period, triggering the notice. This does not immediately delist the company, and it has a six-month period to rectify the situation. Compliance can be regained if the stock price closes at or above $1.00 per share both on the last trading day of any calendar month and over a 30-day period within the cure period. Terran Orbital is considering options, including a reverse stock split, subject to shareholder approval. The notice does not affect the company’s current listing, business operations, or SEC reporting requirements.

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Today, Terran Orbital (NYSE: LLAP), a leader in satellite-based solutions for the aerospace and defense sectors, announced that Co-Founder, Chairman, and CEO Marc Bell, alongside CFO Adarsh Parekh, will present at Jefferies Annual Virtual Space Summit. The event is set for Tuesday, June 25, at 3:00 PM Eastern Time (12:00 PM Pacific Time).

This presentation is expected to provide insights into Terran Orbital's advanced space vehicle platforms and comprehensive mission support capabilities. The session, hosted by Jefferies Research Analyst Greg Konrad, will include a fireside chat format. For those interested in one-on-one meetings with Marc Bell, appointments can be scheduled via email at pr@terranorbital.com.

To discover more about Terran Orbital’s innovations and contributions to the space industry, visit their dedicated platform webpage.

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Terran Orbital has announced the addition of two new space vehicle platforms under NASA's Rapid Spacecraft Acquisition IV (Rapid IV) IDIQ contract. This expansion could position Terran Orbital as a key partner for NASA by offering a wider range of solutions for various missions. The Rapid IV contract has a shared potential ceiling of $6 billion among all selected contractors. Terran Orbital's existing offerings include the Triumph and Renegade CubeSats. The new additions, Nebula and Ambassador, join this portfolio, which is expected to streamline procurement and expedite mission execution for government agencies. Terran Orbital aims to enable faster space vehicle delivery and enhance scientific discovery and national security advancements. Marc Bell, CEO of Terran Orbital, emphasizes their proven track record in delivering reliable space vehicles for complex missions.

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Terran Orbital (NYSE: LLAP) has announced key additions to its leadership team to drive revenue growth and profitability. Peter Krauss will join as COO, effective June 1, 2024, overseeing engineering, manufacturing, and international operations. Adarsh Parekh will start as CFO on June 17, 2024, managing finance and investor relations. Mathieu Riffel, the new CAO, will focus on accounting and compliance. The company emphasizes these appointments will enhance operational efficiency and financial performance. The departing COO, Tony Gingiss, will offer strategic advisory services until July 15, 2024, ensuring a smooth transition.

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Terran Orbital (NYSE: LLAP) announced its membership in the Mobile Satellite Services Association (MSSA), an initiative launched in February 2024 to develop direct-to-device (D2D) and IoT connectivity through a global ecosystem of Non-Terrestrial Network (NTN) providers. MSSA aims to integrate L- and S-band spectrum into mobile devices, leveraging 3GPP mobile standards to enhance connectivity across various sectors, such as cellular, industrial, government, agriculture, and automotive. Terran Orbital's CEO, Marc Bell, emphasized the potential of the D2D market and the importance of collaboration in overcoming challenges related to satellite constellation costs. The MSSA focuses on creating technical standards and regulatory frameworks to support seamless integration of terrestrial and satellite networks.

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Terran Orbital, a leader in satellite solutions for aerospace and defense, celebrates the 3rd anniversary of its GEOStare SV2 mission, launched on May 15, 2021. The mission, in collaboration with Lawrence Livermore National Laboratory (LLNL), has exceeded expectations in high-resolution imaging. Developed under a $6 million CRADA, GEOStare SV2 integrates LLNL's Monolithic Telescope (MonoTele) technology, capturing over 60,000 Earth images and 94,000 deep space images. The mission's success showcases Terran Orbital's ability to produce reliable, high-performance space vehicles and paves the way for future innovations in commercial satellite imagery.

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Terran Orbital (NYSE: LLAP) reported its Q1 2024 financial results, highlighting a new contract with Lockheed Martin for 18 space vehicles and total awards exceeding $100 million for Q2 2024.

As of March 31, 2024, the backlog was $2.7 billion, expected to rise to over $2.8 billion, including $400 million in non-Rivada programs.

Q1 2024 revenue was $27.2 million, a 3% decline from Q1 2023 due to supply chain issues. Costs rose to $33.4 million, leading to a gross loss of $6.2 million.

Net loss improved to $53.2 million from $54.4 million in Q1 2023, driven by reduced selling, general, and administrative expenses. Adjusted EBITDA worsened to -$28.2 million from -$22.6 million. The company holds $43.7 million in cash with $316.7 million in gross debt obligations.

A strategic review is ongoing, including options like remaining independent. The special committee continues to evaluate potential value-maximizing opportunities.

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FAQ

What does Terran Orbital Corporation specialize in?

Terran Orbital specializes in the design, production, and support of satellite products for the aerospace and defense industries.

Where does Terran Orbital operate?

The company operates primarily in the United States and Europe, generating most of its revenue from the U.S. market.

Who are Terran Orbital's main customers?

Terran Orbital serves military, civil, and commercial customers, providing tailored satellite solutions to meet their needs.

What are some of Terran Orbital's recent achievements?

Recent achievements include successful satellite deployments and strategic partnerships with top aerospace and defense organizations.

What current projects is Terran Orbital involved in?

Current projects involve constructing advanced satellites for high-profile clients and collaborating with government agencies for national security.

How does Terran Orbital ensure the quality of its satellite products?

The company combines comprehensive satellite design, production, and support services to deliver reliable and efficient solutions.

What is the financial condition of Terran Orbital?

Terran Orbital maintains a stable financial footing with continuous revenue streams and a growing portfolio of contracts.

What is unique about Terran Orbital's satellite solutions?

Terran Orbital offers end-to-end satellite solutions, ensuring comprehensive support from design to on-orbit operations.

How does Terran Orbital support its on-orbit satellite operations?

The company provides mission operations and on-orbit support, ensuring the effectiveness and longevity of its satellite products.

What future plans does Terran Orbital have?

Terran Orbital aims to expand its market presence and continue innovating in satellite technology to meet future demands.

Terran Orbital Corporation

NYSE:LLAP

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