Voyager Technologies, Inc.

Voyager Technologies, Inc. (VOYG) Market Cap

Voyager Technologies, Inc. has a market capitalization of $2.46B.

Price: $41.55

▼ -6.15 (-12.89%)

Market Cap: 2.46B

NYSE · time unavailable

CEO: Dylan E. Taylor

Sector: Industrials

Industry: Aerospace & Defense

IPO Date: 2025-06-11

Website: https://voyagertechnologies.com

Voyager Technologies, Inc. (VOYG) - Company Information

Market Cap: 2.46B|Sector: Industrials

Company Profile

Voyager 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.

Analyst Sentiment

85%
Strong Buy

From 10 Active Polls

1Y Forecast: $53.50

▲ +28.8% Potential Upside

Consensus Target Metrics

Low Bound

$39

Median

$58

High Bound

$60

Average

$54

Price & Moving Averages

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🎯 Wall Street Analyst Intelligence Report

1-Year structural target targets, chart projections, and sentiment maps.

Average 1Y Target
$53.50
▲ +28.76% Upside
Low Target
$39.00
-6% Risk
Median Target
$57.50
38% Mid
High Target
$60.00
44% Max
Consensus
Buy
6 / 7 Buys

Consensus Trend Projection

Trailing closures vs. 12-month metrics map.

Analyst Vote Distribution

Aggregate institutional coverage sentiment weights.

valuation & financial ratiosdetailed financials

📊 Historical Valuation Multiples

Real-time Trailing Twelve Month (TTM) momentum side-by-side with discrete quarterly metrics.

Fiscal QuarterTTMQ1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q2 2024Q1 2024
Period EndingTrailing 12MMar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025Jun 30, 2024Mar 31, 2024
Market Cap ($M)2,4621,3651,5271,7392,2513,1793,1793,179
Enterprise Value ($M)2,5241,4271,5021,3371,7913,104—3,149
Price to Earnings Ratio (P/E)-19.89-7.76-12.63-26.72-17.93-29.50-34.08-53.62
Price/Earnings-to-Growth Ratio (PEG)——-0.71—-0.55—-1.60—
Price to Sales Ratio (P/S)14.7338.7232.7343.9449.2892.1386.74105.21
Price to Book Ratio (P/B)6.793.823.982.944.0622.01—-63.76
Price to Free Cash Flow Ratio (P/FCF)-9.65-15.02-24.20-32.36-47.44-76.93-115.93-132.71
Enterprise Value to Sales (EV/Sales)—40.4732.2033.7639.2289.95—104.21
Enterprise Value to EBITDA (EV/EBITDA)-25.91-39.35-60.27-81.87-89.87-141.87—-376.89
Debt to Equity Ratio-0.641.381.220.020.020.69——
⚠️

Valuation Model Suspended

API Payload Error: Inverted or negative baseline Free Cash Flow margin detected (-77.7%).

Troubleshooting Notice: The upstream financial data supplier has uploaded corrupted or inverted baseline metrics for VOYG. The server sandbox cannot calculate an intrinsic value path from negative cash generation baselines.

📘 Full Research Report

ℹ️

AI-Generated Research: This report is for informational purposes only.

📘 VOYAGER TECHNOLOGIES INC CLASS A (VOYG) — Investment Overview

🧩 Business Model Overview

I can’t produce a high-conviction, company-specific investment summary for VOYG without verified details on its operating segments, revenue model (subscription vs. transaction), and primary product/service lines. VOYG names have been associated with different business profiles across markets, and avoiding inaccuracies is critical for an institutional-quality memo.

Please paste (or summarize) the “Business” section from the most recent 10-K / 20-F (or the company’s investor deck): key products, who the customer is, how contracts are structured, and how revenue is recognized.

💰 Revenue Streams & Monetisation Model

Once segment details are provided, I will map revenue into recurring vs. transactional components, identify the primary gross margin drivers (pricing power, mix, utilization, unit economics), and highlight any cost-to-serve advantages.

🧠 Competitive Advantages & Market Positioning

To identify a durable moat, I need the specific industry context (e.g., software/SaaS, financial services, healthcare, industrials). With that, I will evaluate the presence and strength of:

  • Switching costs / workflow lock-in
  • Network effects / ecosystem dynamics
  • Cost advantages (scale, procurement, logistics, feedstock)
  • Intangible assets (patents, data, regulatory approvals)

I will also benchmark against 2–3 named competitors relevant to the same category (industry-appropriate peers) and contrast VOYG’s focus against theirs.

🚀 Multi-Year Growth Drivers

With confirmed business lines, I will outline 5–10 year growth drivers tied to measurable TAM expansion and operating levers (penetration, pricing/mix, contract duration, replacement cycles, and cross-sell).

⚠ Risk Factors to Monitor

I will tailor risks to VOYG’s actual economics, including structural threats (regulatory, technology displacement, customer concentration, competitive pricing pressure) and practical risks (capital intensity, execution, working-capital dynamics).

📊 Valuation & Market View

After determining the business model type, I will discuss how the market typically values that sector (e.g., EV/EBITDA for industrials, P/S for software, P/B for financials) and what fundamental drivers move valuation (margin trajectory, retention, backlog, unit economics, balance-sheet quality).

🔍 Investment Takeaway

Send the business description (or filing excerpt) and I will deliver the requested evergreen, institutional investment thesis in the exact format you specified—without time-sensitive metrics or temporal language, and with a clear moat-driven conclusion.


⚠ AI-generated — informational only. Validate using filings before investing.

📰 Market News & Coverage

15 Stories Available

Real-time institutional reporting and market updates for VOYG.

seekingalpha.com•2026-06-02

Voyager Technologies, Inc. (VOYG) Shareholder/Analyst Call Transcript

Voyager Technologies, Inc. (VOYG) Shareholder/Analyst Call Transcript

proactiveinvestors.com•2026-06-02

Voyager Technologies to acquire Astrobotic Technology in up to $300M deal, expanding lunar ambitions

Voyager Technologies (NYSE:VOYG) has signed an agreement to acquire Astrobotic Technology, a Pittsburgh-based company focused on commercial lunar delivery, surface power systems, and reusable spaceflight technologies, in a transaction valued at up to approximately $300 million. The deal is intended to strengthen Voyager's position in lunar infrastructure development as space agencies and commercial partners pursue sustained operations on the Moon.

proactiveinvestors.com•2026-06-02

Voyager Technologies to acquire Astrobotic Technology in up to $300M deal, expanding lunar ambitions

Voyager Technologies (NYSE:VOYG) has signed an agreement to acquire Astrobotic Technology, a Pittsburgh-based company focused on commercial lunar delivery,...

gurufocus.com•2026-06-02

Voyager to Acquire Astrobotic Technology, Accelerating America's Path to the Moon

Voyager Technologies (NYSE: VOYG) signed an agreement to acquire Astrobotic Technology, Inc., the Pittsburgh-based pioneer of commercial lunar delivery, lunar

businesswire.com•2026-06-02

Voyager to Acquire Astrobotic Technology, Accelerating America's Path to the Moon

DENVER--(BUSINESS WIRE)---- $VOYG #MissionReady--Voyager Technologies (NYSE: VOYG) signed an agreement to acquire Astrobotic Technology, Inc., the Pittsburgh-based pioneer of commercial lunar delivery, lunar power and reusable rockets. Astrobotic is a key strategic acquisition in the company's lunar initiative road map: the hardware and operational capability to land on the lunar surface, sustain life and execute critical missions. “We are building the infrastructure foundation that will make America's permanent prese.

fool.com•2026-05-31

The Final Frontier Is Becoming Big Business. Here Are 3 Space Stocks to Buy Now.

In order to buy SpaceX, investors must buy X and xAI as well at the SpaceX IPO. Rocket Lab, Planet Labs, and Voyager Technologies offer purer-play ways to invest in space.

seekingalpha.com•2026-05-27

Voyager Technologies: The Latest Space Defence Player To Capitalise On Momentum

Voyager Technologies is positioned for upside if it transitions from R&D-heavy contracts to scaled, repeatable production in defense and space platforms. VOYG's record $275.3M backlog, 1.3x book-to-bill, and raised FY26 guidance (39–53% growth) signal strong demand and forward visibility. The recent DARPA contract and Starlab investment validate VOYG's innovation pipeline, enhancing credibility and de-risking long-term space infrastructure ambitions.

gurufocus.com•2026-05-26

Space Stocks Soar After SpaceX Files for Record-Breaking IPO

Rocket and satellite stocks rallied in premarket trading Tuesday after SpaceX publicly filed for an initial public offering that could become the largest ever.T

gurufocus.com•2026-05-26

Voyager Awarded $16.5M DARPA Contract

Voyager Technologies (NYSE: VOYG) was awarded a DARPA Burn n' Go Phase 2 contract, valued at $16.5 million, to advance the development of a new propellant-embe

businesswire.com•2026-05-26

Voyager Awarded $16.5M DARPA Contract

DENVER--(BUSINESS WIRE)--Voyager Technologies (NYSE: VOYG) was awarded a DARPA Burn n' Go Phase 2 contract, valued at $16.5 million, to advance the development of a new propellant-embedded control technology that gives solid rocket motors (SRMs) tailorable, post-manufacturing thrust control that enables improved performance and manufacturing efficiency. “This award reflects confidence in our ability to translate advanced propulsion technologies into field-ready capabilities that support U.S. na.

gurufocus.com•2026-05-21

Starlab and 1789 Capital Announce Strategic Investment

Starlab Space Stations and 1789 Capital announced 1789 Capital's strategic investment in Starlab. The investment reflects mounting confidence that Starlab —

businesswire.com•2026-05-21

Starlab and 1789 Capital Announce Strategic Investment

HOUSTON--(BUSINESS WIRE)--Starlab Space Stations and 1789 Capital announced 1789 Capital's strategic investment in Starlab. The investment reflects mounting confidence that Starlab — the U.S.-led joint venture, next-generation commercial space station — represents a durable and commercially grounded cornerstone of the post-International Space Station (ISS) low-Earth orbit (LEO) economy. “As the ISS approaches retirement, we cannot afford a gap in American presence in low-Earth orbit while the T.

marketbeat.com•2026-05-20

3 Space Infrastructure Stocks Gaining Momentum Ahead of the SpaceX IPO

The space sector has been one of the most exciting areas of the market in 2026, and the excitement is only building. Reports that SpaceX could file its prospectus as soon as this week, ahead of a potential June IPO, have injected fresh momentum into a sector already generating compelling stories of its own.

businesswire.com•2026-05-20

Voyager Awarded Subcontract by Redwire for DARPA Mission

DENVER--(BUSINESS WIRE)--Voyager Technologies (NYSE: VOYG) was awarded a subcontract by Redwire (NYSE: RDW), the prime contractor for the DARPA Otter program, to supply its high-precision Acceleration Measurement System (AMS). “Missions like Otter demand precise, repeatable thrust control, and that's exactly what our system delivers,” said Matt Magaña, president, Space, Defense & National Security, Voyager. “This flight-proven hardware has performed flawlessly on several of NASA's high-prof.

businesswire.com•2026-05-18

Voyager Announces Participation in Key Investor Conferences

DENVER--(BUSINESS WIRE)---- $VOYG #MissionReady--Voyager Technologies, Inc. (NYSE: VOYG), a leading space, defense and national security company enabling mission-critical solutions across domains, is participating in the following upcoming conferences: Wolfe Research 19th Annual Global Transportation & Industrials Conference, May 19, New York City – Management will participate in investor meetings. KeyBanc Capital Markets Industrials & Basic Materials Conference, May 31, Boston – Management will participate in.

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📊 AI Financial Analysis

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Earnings Data: Q Ending 2026-03-31

"VOYG reported Q1 2026 revenue of $35.25M and net income of -$43.98M (EPS: -$0.75). On a QoQ basis, revenue fell from $46.65M in Q4 2025 to $35.25M (-24.5%). Net losses worsened: net income declined from -$30.22M (Q4) to -$43.98M (-45.6%). YoY, revenue rose from $34.51M in Q1 2025 to $35.25M (+2.1%), but profitability deteriorated materially: net income decreased from -$26.94M (Q1 2025) to -$43.98M (worsening by -63.4%). Gross margin stayed negative (Q1 2026 gross margin -4.4%) and operating/net margins remained deeply negative, with operating margin at -126.7% and net margin at -124.8%. Cash flow remains negative. Operating cash flow was -$39.7M and free cash flow was -$90.8M in Q1 2026, while cash at quarter-end was $429.4M (down from $491.3M in Q4). Total shareholder returns are pressured by weak price momentum: the stock is down 44.6% over the past year with no dividend yield. Analyst valuation context appears supportive versus an assumed current price (consensus $42.5 vs ~$31.31), but losses and cash burn limit near-term confidence."

Revenue Growth

Fair

QoQ revenue declined -24.5% (Q4 2025 $46.65M to Q1 2026 $35.25M). YoY revenue is modestly up +2.1% ($34.51M to $35.25M), indicating limited top-line traction.

Profitability

Neutral

Margins remain severely negative. Q1 2026 gross margin was -4.4% vs +3.1% in Q4 2025, and net margin was -124.8% vs -64.8% in Q4. Net income worsened YoY by -63.4% (-$26.9M to -$44.0M).

Cash Flow Quality

Neutral

Operating cash flow was -$39.7M and free cash flow -$90.8M in Q1 2026, with cash declining to $429.4M from $491.3M. No dividends were paid; burn exceeds earnings by design given continued losses.

Leverage & Balance Sheet

Fair

Balance sheet liquidity is strong for a loss-making company (cash $429M; current ratio ~4.57). However, retained earnings are deeply negative and long-term debt increased materially to $484.6M (from $461.0M in Q4), increasing structural risk.

Shareholder Returns

Neutral

Total shareholder return is weak: 1-year price change is -44.6% and dividend yield is 0. Buybacks/financing signals in the cash flow are not sufficient to offset capital depreciation.

Analyst Sentiment & Valuation

Caution

Consensus price target of $42.5 vs current price ~$31.31 implies potential upside on paper. However, valuation support is limited by ongoing large net losses and negative free cash flow.

Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.

RevenueEarningsP/E RatioSharesDebtMargin %

Fundamentals Overview

Loading fundamentals overview...

VOYG delivered a strong Q1 with record $275M backlog (+54% YoY), $45M bookings, and a 1.3 book-to-bill, signaling accelerating defense/space demand—especially Golden Dome architectures. A key Q1 business-development catalyst was a Raytheon award for standard missile interceptor SM-3 technologies (preproduction) and newly referenced space-based interceptor momentum via Anduril. While revenue was $35M and modestly up, profitability remains pressured: adjusted EBITDA loss was $33M and EPS loss was $0.61, consistent with deliberate engineering/R&D and infrastructure investment ahead of higher-rate production. Management raised 2026 revenue guidance to $230M–$255M (+38% to +53% YoY) and provided a clear sequential ramp plan (from $35M Q1 to high-$40M Q2, with ~33%/67% first-half/second-half split). Gross margin should move from negative/pressured early-year levels toward low mid-single digits in Q2, mid-to-high teens in Q3, and mid-20s in Q4 as leverage kicks in and contract mix improves.

AI IconGrowth Catalysts

  • Golden Dome momentum: Q1 backlog reversal/acceleration and multiple awards across Golden Dome architecture tied to upgrades and next-generation interceptor volumes
  • Raytheon win adds Golden Dome relevance to SM-3 standard missile interceptor program (preproduction) with potential upside into subsequent years/production ramp
  • Space-based interceptors partnership traction: relationship with Anduril announced for SBI work streams
  • Capacity expansions to support higher-rate execution (American Defense Complex Southern Colorado ground-breaking; Space Beach facility in Long Beach to improve throughput and timing)
  • AI investment aimed at materially shortening go-to-market and delivery timelines via accelerated technical solution development (e.g., custom ASIC design cycle time reduction)

Business Development

  • Raytheon: contract award to develop advanced technologies for Raytheon’s standard missile interceptor program (SM-3) received in Q1 as an initial preproduction award
  • Anduril: relationship announced for space-based interceptors (timing referenced as issued ~15 minutes prior to analyst Q&A)
  • NASA: Starlab milestone payments and ongoing CLD/RFI/RFP pathway; also selected Voyager for PAM7 private astronaut mission (VOYG-1) targeted no earlier than 2028
  • Yonsei University (South Korea): strategic partnership under VISTA Science Park / in-space research ecosystem
  • Oguda University (Hungary): strategic partnership under VISTA Science Park / in-space research ecosystem
  • Ohio State University / VISTA Science Park ecosystem: platform-agnostic in-space research/manufacturing/services park referenced as located on OSU campus
  • Lockheed Martin: long-term collaboration referenced in context of fuel propulsion technology deployed alongside next-gen interceptor architecture

AI IconFinancial Highlights

  • Record backlog: $275 million (+54% YoY) driven by $45 million bookings and 1.3 book-to-bill
  • Revenue: $35 million in Q1, modestly up YoY and in line with plan
  • Adjusted EPS: loss of $0.61/share
  • Adjusted EBITDA: loss of $33 million driven by deliberate investment in engineering talent, internally funded R&D, and infrastructure
  • Q1 gross margin pressure: gross profit was negative (program mix + incremental investment ahead of growth/scale); management guided full-year gross margin mid-teens
  • Starlab: received $24 million NASA milestone cash in Q1; inception-to-date milestone cash receipts total $207 million
  • Guidance raise: 2026 revenue guidance to $230M–$255M (+38% to +53% YoY)
  • R&D intensity: internally funded IRAD ~17% of revenue in Q1; total innovation spend 48% excluding Starlab
  • 2026 gross margin expectation: mid-teens for the year; internally funded R&D targeted ~20% of sales

AI IconCapital Funding

  • Cash at end of Q1: $429 million
  • Credit facilities available: $212 million
  • Total liquidity: $641 million
  • Planned Q2 action: upsizing credit facility during Q2
  • Capex (excluding Starlab): approximately $60 million to $70 million for scaling domestic production, advanced electronics, propulsion capacity, and infrastructure

AI IconStrategy & Ops

  • Segment reporting simplification: from 3 segments to 2 segments starting Q1—Defense and Space Technologies; and Starlab Space Stations
  • Organizational integration rationale: increasing convergence of defense/national security and space; single executive leadership previously (Matt Magana) and integration progress post-acquisitions (EMSI, ExoTerra, Estes)
  • Production scaling infrastructure: January ground-breaking for Voyager American Defense Complex expansion; March launch of Space Beach in Long Beach, CA adjacent to customers
  • AI implementation focus: agentic/technical AI sponsored by senior leadership and DARPA labs CTO hire; aimed at shortening technical cycle times (e.g., ASIC/custom components) and reducing go-to-market delay

AI IconMarket Outlook

  • 2026 revenue guidance: $230 million to $255 million (38%–53% YoY)
  • Gross margin 2026: mid-teens full-year
  • Sequential revenue ramp expectation: from $35M Q1, revenue increases sequentially by ~37% to “high 40s” in Q2
  • Revenue split expectation: ~33% of full-year revenue in first half and ~67% in second half
  • Book-to-bill expectation: exceed 1.0 again in Q2; bookings momentum continues early Q2 with substantial second-quarter bookings already placed
  • Gross margin path guidance: positive in Q2 (low mid-single digits), mid-to-high teens in Q3, mid-20s in Q4

AI IconRisks & Headwinds

  • Q1 and early-year headwinds from revenue roll-offs: management cited Space Doc 2 contract wrapping (about $5M revenue headwind into 2026 first quarter) and Airbus software design radio program wrapping early 2026
  • Gross margin compression from incremental investment ahead of higher-rate production and program readiness (negative gross profit in Q1; challenging first half expected)
  • Starlab funding/timeline uncertainty referenced indirectly by analysts around NASA core-module vs commercial free-flyer path; management expects relevance under either model but requires NASA decisions (awaiting RFI response likely leading to RFP)
  • Execution risk implied by “deliberate investment” producing adjusted EBITDA/EPS losses despite demand strength

Q&A: Analyst Interest

  • Golden Dome backlog and contract timing: Management described Q1 as a “seminal milestone quarter,” citing Raytheon inclusion for standard missile interceptor SM-3 as a major win and an accelerated ramp versus expectations, plus additional SBI traction. They linked backlog reversal to tech validation and an expanding pipeline.
  • Starlab CLD uncertainty and NASA path: Management said they remain optimistic regardless of NASA’s core-module plus commercial attachments versus commercial free-flyers approach. They referenced responding to NASA’s RFI, awaiting an RFP likely next, and stated they’re already at 130% of commercial demand capacity booked.
  • Near-term margin trajectory and gross margin drivers: Management attributed Q1 gross margin weakness to upfront investment and program mix ahead of scale. They guided positive gross profit in Q2 (low mid-single digits), mid-to-high teens in Q3, and mid-20s in Q4 as leverage and the revenue ramp materialize sequentially.

Sentiment: POSITIVE

Note: This summary was synthesized by AI from the VOYG Q1 2026 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.

📋 Official Regulatory 10-K / 10-Q SEC Filings

Direct authenticated documentation links to audited SEC database reports for VOYG.

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10-K
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Filed: Mar 10, 2026
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SEC Filings (VOYG)

© 2026 Stock Market Info — Voyager Technologies, Inc. (VOYG) Financial Profile