Voyager Technologies, Inc. (VOYG) 10-Year Financial Performance & Capital Metrics

VOYG • • Industrial / General

IndustrialsAerospace & DefenseSpace Systems & Launch ServicesSpacecraft & Satellite Systems

AboutVoyager Technologies, Inc. operates as a defense technology and space solutions company in the United States, Europe, the Middle East, and internationally. It operates through three segments: Defense & National Security, Space Solutions, and Starlab Space Stations. The Defense & National Security segment provides defense systems, such as missile defense interceptors, kill vehicles, and hypersonic missiles and reentry systems; signal intelligence systems, including software solutions that deliver critical intelligence to the modern warfighter; communication technologies comprising radiation-hardened laser and RF communications systems and advanced electro-optical and digital systems; and guidance, navigation, and control systems consisting of sun sensors, star trackers, and inertial measurement units, as well as artificial intelligence powered edge computing products. The Space Solutions segment offers advanced space technology systems, such as in-space propulsion systems with applications for orbital servicing, manufacturing, and deep space exploration; space infrastructure, including software solutions that deliver critical intelligence to the modern warfighter; and space science and mission management products. The Starlab Space Stations segment operates a commercial space station and provides continued permanent human presence in space. It serves defense, national security, and space industries. The company was formerly known as Voyager Space Holdings, Inc. and changed its name to Voyager Technologies, Inc. in February 2025. Voyager Technologies, Inc. was incorporated in 2019 and is headquartered in Denver, Colorado.Show more

Revenue $144M +6.0%
EBITDA -$32M -2477.6%
Net Income -$62M -144.0%
EPS (Diluted) -1.44 -94.6%
Gross Margin 24.22% +18.6%
EBITDA Margin -22.24% -2332.4%
Operating Margin -33.6% -222.5%
Net Margin -43.05% -130.3%
ROE -137.61% -63.8%
ROIC -38.54% -213.0%
Debt/Equity 1.64 -42.5%
Interest Coverage -4.03 -201.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Trading more than 30% below 52-week high
✗Expensive at 30.4x book value

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-29.49%

5Y Avg-29.49%

3Y Avg-29.49%

Latest-40.73%

Peer Comparison

Spacecraft & Satellite Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRMNKarman Holdings Inc.	14.22B	107.49	1118.52	22.99%	2.65%	3.07%	0.08%	2.29
SPCEVirgin Galactic Holdings, Inc.	224.51M	3.07	-0.22	3.47%	-176.16%	-129.53%		1.30
SIDUSidus Space, Inc.	202.7M	3.11	-0.87	-21.64%	-6.55%	-99.03%		0.43
LUNRIntuitive Machines, Inc.	2.5B	17.57	-3.79	186.72%	-94.7%	-85.57%		9.53
RDWRedwire Corporation	1.67B	10.14	-4.31	24.73%	-70.32%	-22.44%
VOYGVoyager Technologies, Inc.	1.64B	31.24	-21.69	5.97%	-59.62%	-14.46%		1.64
PLPlanet Labs PBC	7.41B	25.32	-60.29	10.72%	-34.46%	-20.76%		0.05

Profit & Loss

	Dec 2023	Dec 2024
Sales/Revenue+	136.06M	144.18M
Revenue Growth %	-	0.06%
Cost of Goods Sold+	108.28M	109.27M
COGS % of Revenue	0.8%	0.76%
Gross Profit+	27.79M	34.91M
Gross Margin %	0.2%	0.24%
Gross Profit Growth %	-	0.26%
Operating Expenses+	41.96M	83.36M
OpEx % of Revenue	0.31%	0.58%
Selling, General & Admin	54.04M	62.57M
SG&A % of Revenue	0.4%	0.43%
Research & Development	-18.54M	7.61M
R&D % of Revenue	-0.14%	0.05%
Other Operating Expenses	6.46M	13.18M
Operating Income+	-14.17M	-48.44M
Operating Margin %	-0.1%	-0.34%
Operating Income Growth %	-	-2.42%
EBITDA+	-1.24M	-32.06M
EBITDA Margin %	-0.01%	-0.22%
EBITDA Growth %	-	-24.78%
D&A (Non-Cash Add-back)	12.93M	16.38M
EBIT	-14.27M	-55.32M
Net Interest Income+	-10.59M	-12.02M
Interest Income	0	0
Interest Expense	10.59M	12.02M
Other Income/Expense	-10.68M	-18.89M
Pretax Income+	-24.86M	-67.34M
Pretax Margin %	-0.18%	-0.47%
Income Tax+	341K	-1.71M
Effective Tax Rate %	1.02%	0.92%
Net Income+	-25.44M	-62.07M
Net Margin %	-0.19%	-0.43%
Net Income Growth %	-	-1.44%
Net Income (Continuing)	-25.2M	-65.63M
Discontinued Operations	0	0
Minority Interest	42.76M	36.13M
EPS (Diluted)+	-0.74	-1.44
EPS Growth %	-	-0.95%
EPS (Basic)	-0.74	-1.44
Diluted Shares Outstanding	58.23M	58.23M
Basic Shares Outstanding	58.23M	58.23M
Dividend Payout Ratio	-	-

Balance Sheet

	Dec 2023	Dec 2024
Total Current Assets+	69.2M	101.58M
Cash & Short-Term Investments	30.28M	55.93M
Cash Only	30.28M	55.93M
Short-Term Investments	0	0
Accounts Receivable	32.9M	32.66M
Days Sales Outstanding	88.25	82.69
Inventory	3.1M	1.53M
Days Inventory Outstanding	10.46	5.1
Other Current Assets	0	0
Total Non-Current Assets+	119.69M	146.01M
Property, Plant & Equipment	23.54M	57.61M
Fixed Asset Turnover	5.78x	2.50x
Goodwill	46.52M	46.52M
Intangible Assets	44.27M	34.68M
Long-Term Investments	0	0
Other Non-Current Assets	5.37M	7.21M
Total Assets+	188.89M	247.6M
Asset Turnover	0.72x	0.58x
Asset Growth %	-	0.31%
Total Current Liabilities+	111.22M	87.41M
Accounts Payable	13.49M	22.79M
Days Payables Outstanding	45.49	76.12
Short-Term Debt	45.15M	665K
Deferred Revenue (Current)	1000K	1000K
Other Current Liabilities	17.52M	27.63M
Current Ratio	0.62x	1.16x
Quick Ratio	0.59x	1.14x
Cash Conversion Cycle	53.21	11.67
Total Non-Current Liabilities+	47.38M	100.26M
Long-Term Debt	30.56M	88.35M
Capital Lease Obligations	7.34M	6.21M
Deferred Tax Liabilities	2.67M	112K
Other Non-Current Liabilities	396K	2.83M
Total Liabilities	158.6M	187.67M
Total Debt+	86.33M	98.22M
Net Debt	56.05M	42.29M
Debt / Equity	2.85x	1.64x
Debt / EBITDA	-	-
Net Debt / EBITDA	-	-
Interest Coverage	-1.34x	-4.03x
Total Equity+	30.29M	59.93M
Equity Growth %	-	0.98%
Book Value per Share	0.52	1.03
Total Shareholders' Equity	-12.47M	23.79M
Common Stock	1K	1K
Retained Earnings	-216.8M	-281.11M
Treasury Stock	0	0
Accumulated OCI	-189K	28K
Minority Interest	42.76M	36.13M

Cash Flow

	Dec 2023	Dec 2024
Cash from Operations+	-15.38M	-25.5M
Operating CF Margin %	-0.11%	-0.18%
Operating CF Growth %	-	-0.66%
Net Income	-25.2M	-65.63M
Depreciation & Amortization	12.93M	16.38M
Stock-Based Compensation	2.71M	3.76M
Deferred Taxes	-645K	-2.61M
Other Non-Cash Items	1.81M	25.5M
Working Capital Changes	-6.98M	-2.9M
Change in Receivables	-1.46M	-5.92M
Change in Inventory	1.49M	1.58M
Change in Payables	-1.56M	-6.07M
Cash from Investing+	11.6M	-27.77M
Capital Expenditures	-17.21M	-82.7M
CapEx % of Revenue	0.13%	0.57%
Acquisitions	-	-
Investments	-	-
Other Investing	28.91M	54.93M
Cash from Financing+	1.93M	78.96M
Debt Issued (Net)	-	-
Equity Issued (Net)	-	-
Dividends Paid	0	0
Share Repurchases	-	-
Other Financing	-8.68M	914K
Net Change in Cash	-	-
Free Cash Flow+	-32.59M	-108.2M
FCF Margin %	-0.24%	-0.75%
FCF Growth %	-	-2.32%
FCF per Share	-0.56	-1.86
FCF Conversion (FCF/Net Income)	0.60x	0.41x
Interest Paid	0	5.89M
Taxes Paid	0	374K

Key Ratios

Metric	2023	2024
Return on Equity (ROE)	-84%	-137.61%
Return on Invested Capital (ROIC)	-12.31%	-38.54%
Gross Margin	20.42%	24.22%
Net Margin	-18.7%	-43.05%
Debt / Equity	2.85x	1.64x
Interest Coverage	-1.34x	-4.03x
FCF Conversion	0.60x	0.41x
Revenue Growth	-	5.97%

Frequently Asked Questions

Growth & Financials

Voyager Technologies, Inc. (VOYG) reported $150.0M in revenue for fiscal year 2024. This represents a 10% increase from $136.1M in 2023.

Voyager Technologies, Inc. (VOYG) grew revenue by 6.0% over the past year. This is steady growth.

Voyager Technologies, Inc. (VOYG) reported a net loss of $89.4M for fiscal year 2024.

Dividend & Returns

Voyager Technologies, Inc. (VOYG) has a return on equity (ROE) of -137.6%. Negative ROE indicates the company is unprofitable.

Voyager Technologies, Inc. (VOYG) had negative free cash flow of $166.5M in fiscal year 2024, likely due to heavy capital investments.

← Back to Screener