Voyager Technologies, Inc. Class A

Welcome to the Voyager Technologies second quarter 2026 financial results conference call. At this time, all participants have been placed on a listen-only mode and the floor will be open for your questions following the presentation. If you would like to ask a question at that time, please press star 1 on your telephone keypad. If at any point your question has been answered, you may remove yourself from the queue by pressing star 1 again. So others can hear your questions clearly, we ask that you pick up your handset for best sound quality. Lastly, if you should require operator assistance, please press star zero. I would now like to turn the call over to your first speaker today, Phil de Sousa, Voyager's Chief Financial Officer. Mr. de Sousa, the floor is yours.

Thank you and good morning, everyone. I'm joined today by Dylan Taylor, Chairman and Chief Executive Officer. Today's call includes forward-looking statements which involve risks and uncertainties detailed in our earnings materials and SEC filings, including the risk factors section of our annual report on Form 10-K. We undertake no obligation to update these statements. We will also discuss non-GAAP financial measures. A reconciliation of these measures is available in our earnings materials on our website. I'll now turn the call over to Dylan to begin with slide three.

Thank you, Phil, and good morning, everyone. Our record second quarter results further validate what we've been discussing with investors over the past year. That demand across defense modernization, national security, and the rapidly expanding space economy continues to accelerate. And Voyager is increasingly converting that demand into measurable growth. This quarter was a decisive milestone. We delivered record revenue, record bookings, and enter the second half with record backlog. We recently completed the acquisition of Astrobotic and are today raising our full year revenue guidance. Collectively, these achievements demonstrate the strength of our strategy, the quality of our execution and increasing relevance of our technologies across some of the world's highest priority growth markets. Revenue reached a record $53 million. increasing 51% sequentially as programs continued that transition from development into production. Just as importantly, bookings accelerated to a record $113 million, driving backlog to a record $336 million and providing increased visibility into both the remainder of 2026 and 2027. Perhaps the most significant takeaway is that demand continues to build faster than what we're converting into revenue. As bookings consistently outpace revenue, backlog continues to expand reinforcing our confidence that today's growth is supported by durable customer demand rather than quarterly timing. The acquisition of Astrobotic significantly expands our participation across the lunar economy and provides another example of our disciplined approach to capital allocation. Combined with our existing capabilities, Astrobotic further strengthens Voyager's leadership position across the future of the space infrastructure market. Taken together, continued execution, accelerating demand, strategic capital deployment and increased revenue visibility, we are confident in raising our full-year 2026 revenue guidance to $275 million to $305 million representing growth of approximately 66% to 84% over last year. Turning to slide four, the wide breadth of our bookings this quarter demonstrates that demand continues expanding across our platform rather than being driven by a single customer or a single program. During the quarter, we secured $113 million in new awards Spanning propulsion, advanced electronics, autonomous mission systems, AI-enabled technologies, and commercial space infrastructure. This broad-based demand reinforces our confidence that the markets we serve continue to strengthen and provide significant long-term growth potential. Golden Dome-related awards totaled $84 million and spanned across multiple customers, multiple programs of record, and several distinct technology platforms. We view Golden Dome as much more than a single procurement opportunity. It represents a multi-year modernization initiative, spanning sensing, communications, propulsion, autonomous mission systems and resilient space infrastructure. All areas where Voyager already delivers differentiated technologies. As this architecture continues to develop, We believe Voyager is exceptionally well positioned to participate across numerous layers of this critical missile defense architecture. We also secured a multi-million dollar award to deliver an agentic AI spectrum operations platform supporting autonomous mission systems for an undisclosed customer. This reflects increasing customer demand for AI-enabled decision advantage and highlights our growing position within Next Generation Defense Technologies. Finally, we continued expanding our commercial space leadership through additional mission management awards, including ExoBiosphere. While relatively limited today by the operating capacity of the International Space Station, opportunities like these reinforce our confidence that commercial space infrastructure will become an increasingly important growth driver over the coming decade.