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Maxar Reports 2021 Revenue Growth Driven by Space, Earth Intell Segments; Dan Jablonsky Quoted

Maxar Technologies (NYSE: MAXR) reported $468 million in revenues during the fourth quarter of 2021 and $1.77 billion in consolidated revenues for the full year ended Dec. 31, reflecting an increase of $47 million from the previous year.

The Westminster, Colorado-based space technology company said Tuesday the rise in full-year 2021 revenue was driven by the financial performance of its Earth intelligence and space infrastructure segments.

The company’s full-year adjusted earnings before interest, taxes, depreciation and amortization was $424 million, while its Q4 2021 adjusted EBITDA was $112 million, up from the prior-year period’s $95 million.

“Our performance this year demonstrates that we are executing on our strategic growth plans. We generated revenue and Adjusted EBITDA growth, and we won notable awards across a diverse set of customers, including the National Reconnaissance Office, the National Geospatial Intelligence Agency, the US Army, several key US allies, and a number of leading technology companies,” said Dan Jablonsky, president and CEO of Maxar and an inductee into Executive Mosaic’s Wash100 for 2022.

The company’s Earth intelligence segment saw its revenue for the last quarter of 2021 rise by $31 million to $289 million and reported $1.09 billion in full-year revenue, up $12 million from the previous year. The segment’s adjusted EBITDA for the last three months of 2021 was $130 million.

“Importantly, we generated over $100 million in growth from our Earth Intelligence products versus last year. As we look to 2022 and beyond, we remain focused on execution and on making investments across both Earth Intelligence and Space Infrastructure that we believe will position us well to continue to meet our customer’s critical mission needs into the future,” added Jablonsky.

Maxar reported $1.89 billion in order backlog for the year ended Dec. 31, $46 million in full-year net income from continuing operations and a full-year diluted net income per share of $0.63.

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