Terran Orbital Corporation (NYSE: LLAP) has pre-announced their 2023 year-end cash balance.
Terran Orbital expects to report an excess of $70 million in cash and cash equivalents as of December 31, 2023, compared to cash and cash equivalents of $38.7 million as of September 30, 2023, primarily resulting from the receipt of key customer payments at year-end.
“We are entering 2024 with a strong financial foundation that we believe will enable us to continue to execute on our strategic and operational objectives,” said Marc Bell, Terran Orbital’s Co-Founder, Chairman, and Chief Executive Officer.
Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of the most demanding military, civil, and commercial customers.