Maxar Technologies (NYSE: MAXR) posted $405 million in revenues during the first quarter of 2022, up $13 million or 3.3 percent from the prior-year period driven by revenue increase within the company’s space infrastructure segment.
The Westminster, Colorado-based space technology company said it had a total order backlog of $1.62 billion and unfunded contract options of $763 million as of March 31.
The company reported $48 million in operating cash flows, while its Q1 2022 total adjusted earnings before interest, taxes, depreciation and amortization was $84 million, up from $67 million recorded during the same quarter last year.
Maxar’s space infrastructure segment saw its revenue for the first quarter of 2021 rise by $22 million to $177 million and reported an adjusted EBITDA of $19 million for the three months ended March 31.
The Earth intelligence segment’s revenue increased by $1 million to $251 million during the first quarter associated with the company’s international defense and intelligence clients.
Dan Jablonsky, president and CEO of Maxar and a 2022 Wash100 Award winner, said Maxar helped provide transparency during the conflict in Ukraine, making Q1 a historic quarter for the company and the geospatial industry.
“We believe the world not only better understands what is going on in that region because of our efforts, but it also better appreciates the value of the geospatial data that we provide to our customers every day,” said Jablonsky.
“My thanks to our teams who have been working twenty-four seven. This not only puts us on the right side of history, but it also positions our industry, and Maxar specifically, for an increased role in better serving customer missions in the future,” he added.