Terran Orbital removes Rivada constellation from revenue backlog
Top Stories Tamfitronics TAMPA, Fla. — Terran Orbital has removed the broadband constellation it is developing for Rivada Space Networks from the backlog of revenues in its accounts, even though the manufacturer still expects to get $2.4 billion from their contract.The Boca Raton, Florida-based company’s backlog now stands at $312.7 million, according to earnings results disclosed in a regulatory filing Aug. 12 without a press release or call with investors.About 91% of these future revenues are associated with Lockheed Martin, which owns a third of Terran Orbital’s equity and dropped plans earlier this year to buy a larger stake.Terran Orbital’s work for Lockheed Martin includes a contract for 36 satellite buses to join the U.S. Space Development Agency’s mesh network of low Earth orbit (LEO) military satellites.Marc Bell, Terran Orbital’s CEO, said Rivada Space was stripped from...
