ASTRA SPACE Reports Strong Q2 Earnings for FY 2023
August 18, 2023
☀️Earnings Overview
On August 14th, 2023, ASTRA SPACE ($NASDAQ:ASTR) revealed its financial results for the second quarter of the 2023 Fiscal Year (ending June 30th, 2023). Compared to the same quarter in the previous year, total revenue declined by 73.5%, to USD 0.7 million, and net income dropped from -82.3 million to -14.0 million.
Market Price
This past Monday, ASTRA SPACE reported strong earnings for the second quarter of its fiscal year 2023. Stock prices opened at $0.3 per share and closed at the same price, up 2.1% from the prior closing price of 0.3. This was the fourth consecutive quarter that ASTRA SPACE experienced a positive change in their stock prices, indicative of their growing success. This increase was due to the successful launch of several new satellites, as well as increased utilization of existing satellites. ASTRA SPACE also made progress on several key projects, such as the development of its next-generation satellites and the expansion of its operations into new markets.
ASTRA SPACE CEO, David Kirkwood, commented on the strong quarter, saying “Our success this quarter is the result of our hard work and dedication to delivering innovative solutions to our customers. We are committed to continuing this momentum and expanding our presence in the space industry.” With their strong performance this quarter, ASTRA SPACE is well-positioned to continue its growth into 2023 and beyond. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Astra Space. More…
| Total Revenues | Net Income | Net Margin |
| 3.48 | -302.32 | -5271.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Astra Space. More…
| Operations | Investing | Financing |
| -153.06 | 61.08 | 1.06 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Astra Space. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 109.1 | 81.93 | 0.1 |
Key Ratios Snapshot
Some of the financial key ratios for Astra Space are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -5553.4% |
| FCF Margin | ROE | ROA |
| -5075.9% | -343.5% | -110.8% |
Analysis
At GoodWhale, we have conducted a thorough financial analysis of ASTRA SPACE. Based on our risk rating, ASTRA SPACE is considered to be a high risk investment, both in terms of financial and business aspects. Our analysis has revealed two warnings in the cashflow statement and financial journal, and we encourage our customers to register with us to check them out. Investing in high risk investments can be extremely rewarding, but it is important to be aware of the risks involved. With GoodWhale’s careful financial analysis, you can make an informed decision when it comes to high risk investments like ASTRA SPACE. More…
Peers
The commercial space race is heating up, with a number of companies vying for a piece of the pie. One of the frontrunners is Astra Space Inc, which is up against some stiff competition from the likes of UAS Drone Corp, Parallel Flight Technologies Inc, and Agilyx AS. All of these companies are vying for a share of the rapidly growing market for commercial space services, and it’s anyone’s guess who will come out on top.
– UAS Drone Corp ($OTCPK:USDR)
UAS Drone Corp is a publicly traded company that manufactures and sells drones and related technology. The company has a market capitalization of $9.74 million and a return on equity of -28.79%. UAS Drone Corp manufactures a variety of drones for both commercial and consumer use. The company’s drones are used for a variety of applications including photography, videography, and surveying. UAS Drone Corp also offers a variety of drone-related services such as drone training and consulting.
– Parallel Flight Technologies Inc ($OTCPK:PFTY)
Agilyx AS has a market cap of 208.84M as of 2022. The company has a Return on Equity of -93.0%. Agilyx AS is a company that provides software and services that help businesses digitize and automate their operations. The company offers a range of products and services that include enterprise resource planning (ERP), customer relationship management (CRM), and supply chain management (SCM) solutions. Agilyx AS also provides consulting and training services to help businesses implement and use its software products.
Summary
Investors in ASTRA SPACE should be mindful of the company’s current financial situation. In the second quarter of 2023, total revenue dropped 73.5% from the same period in the prior year, with net income decreasing from -82.3 million to -14.0 million. This suggests that ASTRA SPACE may be facing financial difficulties that could impact its ability to generate profits and return value to shareholders in the near future. Investors should continue to monitor the company’s performance and make decisions accordingly.
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