Private company

Terran Orbital Corp

American guided missiles and space vehicles and parts company1

In its 2024 annual report the company says: “We provide end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of our military, civil, and commercial customers. We have a foreign subsidiary based in Torino, Italy.”75

Last updated Oct 20, 2026.

Overview

  • IndustryGuided Missiles & Space Vehicles & Parts1
  • HeadquartersBoca Raton, Florida1
  • Incorporated inDE2
  • Business address6800 Broken Sound Parkway, Suite 200, Boca Raton, Fl 334872
  • Filer category, Emerging growth company2
  • Legal formCorporation

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2023

6.3%Gross margin4
-80.1%Operating margin4
-111.7%Net margin4
44.2%Revenue growth, 20234
-$78.9MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue40¢$127.4M
  • Research and development7¢$21.3M
  • Selling, general and admin37¢$117.5M
  • Interest15¢$48.5M
  • Income tax0¢$34.0K

Out of $135.9M in revenue.4 The company lost money this year.

Financial statements

Revenue54$135.9M in 2023+232% since 2021
0$50.0M$100.0M$150.0M2021: $40.9M$40.9M20212022: $94.2M$94.2M2022+130%2023: $135.9M$135.9M2023+44%
Gross profit54$8.6M in 2023+22% since 2021
-$20.0M-$10.0M0$10.0M2021: $7.0M$7.0M20212022: -$17.3M-$17.3M20222023: $8.6M$8.6M2023
Operating income54-$108.9M in 2023+197% since 2021
-$200.0M-$150.0M-$100.0M-$50.0M02021: -$36.7M-$36.7M20212022: -$152.8M-$152.8M2022+316%2023: -$108.9M-$108.9M2023−29%
Net income54-$151.8M in 2023+9% since 2021
-$200.0M-$150.0M-$100.0M-$50.0M02021: -$139.0M-$139.0M20212022: -$164.0M-$164.0M2022+18%2023: -$151.8M-$151.8M2023−7%
Fiscal year2020202120222023
Revenue$40.9M5$94.2M4$135.9M4
Cost of revenue$33.9M5$111.5M4$127.4M4
Gross profit$7.0M5-$17.3M4$8.6M4
Research and development$1.9M5$14.5M4$21.3M4
Selling, general and admin$43.7M5$111.9M4$117.5M4
Operating income-$36.7M5-$152.8M4-$108.9M4
Interest$8.0M5$26.6M4$48.5M4
Income before tax-$138.9M5-$163.8M4-$151.8M4
Income tax$38.0K5$160.0K4$34.0K4
Net income-$139.0M5-$164.0M4-$151.8M4
Earnings per share-$1.815-$1.284-$0.894
Earnings per share (diluted)-$1.815-$1.404-$0.894
Shares (weighted, basic)76.7M shares5128.3M shares4170.1M shares4
Shares (weighted, diluted)76.7M shares5134.1M shares4170.1M shares4

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Corporate structure

Terran Orbital Corp sits at the top of its group. 6 entities, 3 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Terran Orbital Corp

  • FP CREDIT PARTNERS PHOENIX II, L.P. Filed SCHEDULE 13G/A on Terran Orbital Corp, latest Feb 13, 2025 (2 filings since Feb 13, 2023)
  • ARMISTICE CAPITAL, LLC Filed SC 13G/A on Terran Orbital Corp, latest Nov 14, 2024 (2 filings since Feb 14, 2024)
  • BlackRock Filed SC 13G on Terran Orbital Corp, latest Nov 8, 2024 (2 filings since Oct 18, 2024)
  • Daniel C. Staton Filed SC 13D/A on Terran Orbital Corp, latest Oct 30, 2024 (2 filings since Apr 5, 2022)
  • Marc H. Bell Filed SC 13D/A on Terran Orbital Corp, latest Oct 30, 2024 (2 filings since Apr 5, 2022)
  • SOPHIS INVESTMENTS LLC Filed SC 13D/A on Terran Orbital Corp, latest Oct 23, 2024 (6 filings since Oct 12, 2023)
  • Lockheed Martin Filed SC 13D/A on Terran Orbital Corp, latest Aug 16, 2024 (8 filings since Mar 31, 2022)
  • Anthony L. Previte Declaration of Trust Filed SC 13G on Terran Orbital Corp, latest Feb 7, 2024 (2 filings since Feb 13, 2023)
  • Beach Point Capital Management LP Filed SC 13G/A on Terran Orbital Corp, latest Feb 2, 2024 (4 filings since Apr 4, 2022)
  • Austin Williams Filed SC 13D/A on Terran Orbital Corp, latest Mar 13, 2023 (2 filings since Apr 5, 2022)
  • GLAZER CAPITAL, LLC Filed SC 13G/A on Terran Orbital Corp, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • Beryl Capital Management LLC Filed SC 13G/A on Terran Orbital Corp, latest Feb 13, 2023 (2 filings since Mar 17, 2022)
  • Terran Orbital Corp Boca Raton, Florida
    • Orbital Networks AS Subsidiary · Norway
    • PredaSAR Corporation Subsidiary · Delaware, United States
    • Terran Orbital Operating Corporation Subsidiary · Delaware, United States
    • Tyvak International S.R.L. Subsidiary · Italy
    • Tyvak Nano-Satellite Systems, Inc. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Terran Orbital Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$69.8M4 Dec 31, 2023$39.6M4 Dec 31, 2022+76.3%
Accumulated depreciation$23.4M4 Dec 31, 2023$14.9M4 Dec 31, 2022+57.2%
Property and equipment, net$46.4M4 Dec 31, 2023$24.7M4 Dec 31, 2022+87.7%
Finance-lease assets$5.9M4 Dec 31, 2023$420.0K4 Dec 31, 2022+1298.3%
Operating-lease assets (leased space)$12.1M4 Dec 31, 2023$12.7M4 Dec 31, 2022−5.0%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$71.7M4 Dec 31, 2023$93.6M4 Dec 31, 2022−23.4%

Inventory

ItemLatestA year beforeChange
Raw materials$18.3M4 Dec 31, 2023$19.2M4 Dec 31, 2022−4.7%
Work in process$15.1M4 Dec 31, 2023$4.9M4 Dec 31, 2022+205.0%

Leadership

Who has led Terran Orbital Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christopher John Hollod2021–2022
  2. Matthew Eby2021–2022

Chief financial officer

  1. Matthew Eby2021–2022
  2. Gary A. Hobart2022–2024
  3. Mathieu Riffel2023–2024
  4. Adarsh Parekh2024

Chief operating officer

  1. Anthony J. Gingiss2023
  2. Peter Krauss2024
2025
Board members and other officers (27)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorMarc H. Bell named Jul 14, 202240

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Orbital Networks AS Norway3
  • PredaSAR Corporation Delaware3
  • Terran Orbital Operating Corporation Delaware3
  • Tyvak International S.R.L. Italy3
  • Tyvak Nano-Satellite Systems, Inc. Delaware3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • Tailwind Two Acquisition Corp.Dec 16, 2020 to Mar 30, 20222

Timeline

  1. Nov 18, 20248-K Other events41
  2. Oct 30, 20248-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer42
  3. Oct 28, 20248-K Entered a material agreement43
  4. Oct 24, 20248-K Entered a material agreement; New debt or obligation44
  5. Oct 21, 20248-K Other events45
  6. Sep 12, 20248-K Executive or director change46
  7. Aug 26, 20248-K Listing notice or transfer47
  8. Aug 21, 20248-K Entered a material agreement; New debt or obligation; Change to shareholders' rights48
  9. Aug 15, 20248-K Other events49
  10. Jul 23, 20248-K Entered a material agreement; Regulation FD disclosure50
  11. Jun 21, 20248-K Listing notice or transfer; Regulation FD disclosure51
  12. Jun 14, 20248-K Executive or director change52
  13. Mar 4, 2021New chief executive Matthew Eby becomes CEO10
  14. Mar 4, 2021New chief executive Christopher John Hollod becomes CEO9

Calendar

When it reported results

  1. May 14, 2024Reported quarterly or annual results53
  2. Apr 1, 2024Reported quarterly or annual results54
  3. Jan 3, 2024Reported quarterly or annual results55
  4. Nov 14, 2023Reported quarterly or annual results56
  5. Aug 15, 2023Reported quarterly or annual results57
  6. May 15, 2023Reported quarterly or annual results58
  7. Mar 21, 2023Reported quarterly or annual results59
  8. Nov 9, 2022Reported quarterly or annual results60

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

507 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 52 major events, 261 insider forms, 40 large holders, 1 private raises, 140 other. The latest 20:

  1. Feb 13, 2025SCHEDULE 13G/A EDGAR
  2. Nov 18, 20248-K EDGAR
  3. Nov 14, 2024SC 13G/A EDGAR
  4. Nov 12, 202415-12G EDGAR
  5. Nov 8, 2024SC 13G EDGAR
  6. Nov 1, 20244 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  7. Oct 30, 2024EFFECT EDGAR
  8. Oct 30, 2024EFFECT EDGAR
  9. Oct 30, 2024EFFECT EDGAR
  10. Oct 30, 2024SC 13D/A EDGAR
  11. Oct 30, 2024SC 13D/A EDGAR
  12. Oct 30, 20244 EDGAR
  13. Oct 30, 20244 EDGAR
  14. Oct 30, 20244 EDGAR
  15. Oct 30, 20244 EDGAR
  16. Oct 30, 20244 EDGAR
  17. Oct 30, 20244 EDGAR
  18. Oct 30, 20244 EDGAR
  19. Oct 30, 20244 EDGAR
  20. Oct 30, 20244 EDGAR

The 507 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

127 open-market trades by officers, directors and large owners since October 2021: 2 buys and 125 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Oct 30, 2024LOCKHEED MARTIN CORP10% ownerBuy1,000Form 4
Jun 23, 2023Siegmann JonathanSVP, Corporate DevelopmentBuy20,000$1.27$25.4KForm 4
Feb 27, 2023Beach Point SCF Multi-Port LP10% ownerSale172,800$3.02$521.9KForm 4
Feb 27, 2023GOLDSMITH CARL H10% ownerSale627,200$3.02$1.9MForm 4
Feb 23, 2023Beach Point GP LLC10% ownerSale183,478$3.07$563.3KForm 4
Feb 23, 2023GOLDSMITH CARL H10% ownerSale665,957$3.07$2.0MForm 4
Feb 22, 2023Beach Point SCF Multi-Port LP10% ownerSale1,004,522$3.03$3.0MForm 4
Feb 22, 2023Beach Point Advisors LLC10% ownerSale3,646,043$3.03$11.0MForm 4
Feb 6, 2023Beach Point Advisors LLC10% ownerSale1,523$2.00$3.0KForm 4
Feb 6, 2023Beach Point Securitized Credit Fund LP10% ownerSale5,527$2.00$11.1KForm 4
Feb 3, 2023Beach Point SCF Multi-Port LP10% ownerSale7,803$2.01$15.7KForm 4
Feb 3, 2023GOLDSMITH CARL H10% ownerSale28,324$2.01$56.9KForm 4
Feb 2, 2023Beach Point TX SCF LP10% ownerSale20,823$2.02$42.1KForm 4
Feb 2, 2023Klein Scott Martin10% ownerSale75,576$2.02$152.7KForm 4
Jan 11, 2023GOLDSMITH CARL H10% ownerSale7,411$1.51$11.2KForm 4
Jan 11, 2023Beach Point GP LLC10% ownerSale26,895$1.51$40.6KForm 4
Jan 10, 2023Beach Point TX SCF LP10% ownerSale47,605$1.50$71.4KForm 4
Jan 10, 2023Beach Point Capital Management LP10% ownerSale172,787$1.50$259.2KForm 4
Jan 9, 2023Beach Point Capital Management LP10% ownerSale17,207$1.50$25.8KForm 4
Jan 9, 2023Beach Point Capital Management LP10% ownerSale62,455$1.50$93.7KForm 4

All 127 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jul 5, 2022Raised $951,524 in a private offering of equity Form D: $101 million offered in all Form D

SEC filer profile

How Terran Orbital Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTerran Orbital Corp1
  • CIK0001835512
  • Filer status<br>emerging growth company1
  • Incorporated inDelaware1
  • Fiscal year endsDecember 311
  • Industry code (SIC)3760 Guided Missiles & Space Vehicles & Parts1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address6800 Broken Sound Parkway, Suite 200, Boca Raton, FL 334871
  • Phone(561) 988-17041
  • Shares outstanding204,355,515 as of Aug 8, 20247
  • Public float$179.3M as of Jun 30, 20234
  • On EDGAR sinceDec 16, 20201
  • Filings538 in all: 4 (225), 8-K (54), 425 (52), 3 (34), 424B3 (17), SC 13D/A (16), CORRESP (13), 10-Q (11)1
    All 45 form types

    SC 13G (10), SC 13G/A (10), UPLOAD (10), EFFECT (9), DEFA14A (8), SC 13D (6), 4/A (5), 3/A (4), 424B5 (4), POS AM (4), 10-K (3), 25-NSE (3), S-1 (3), S-1/A (3), S-4/A (3), S-8 (3), S-8 POS (3), 8-A12B (2), 8-K/A (2), ARS (2), CERT (2), DEF 14A (2), 10-Q/A (1), 15-12G (1), 424B4 (1), 424B7 (1), 8-A12B/A (1), D (1), DEFM14A (1), DRS (1), NT 10-Q (1), PRE 14A (1), PREM14A (1), S-3 (1), S-4 (1), SCHEDULE 13G/A (1), SD (1)

  • Latest filingsAnnual report (10-K) Apr 1, 2024
    Quarterly report (10-Q) Aug 12, 2024
    Proxy statement (DEF 14A) Apr 10, 2024
    Latest 8-K (8-K) Nov 18, 2024

Sources

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