AscendArc Secures GEO Satellite Contract Amid Record Backlog Growth
1 report, 1 independent
Updated Fri 00:00
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What happened
AscendArc secured a contract for a GEO satellite customer, while also receiving a $20 million award from DARPA for testing a scaled SabreSat spacecraft. The company also awarded an ELSA Wing Contract worth $15 million to support low to medium power applications for a GEO satellite customer.
From fool.com
Why it matters
The company reported revenue of $109 million, growing 5.4% year over year, driven by increased demand for space and defense solutions. The contracted backlog reached a record $619.7 million, and internal research and development expenses increased 87.1% to support new products.
Companies are combining R&D strengths to develop next-generation products.
From fool.com