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Voyager Technologies VOYG Defense and National Security — Goodwill

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Other financials

Income statement

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Revenue$35.2M+2.1%
Gross profit-$1.5M-128%
Operating income-$44.6M-69.8%
Net income-$44.0M-63.3%
EPS (diluted)-$0.75+67.4%

Balance sheet

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Cash & equivalents$429.4M+145%
Total debt$24.1M
Total equity$357.2M+617%
Total assets$1.0B

Cash flow

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Operating cash flow-$39.7M-177%
CapEx$51.1M+89.5%
Free cash flow-$90.8M-120%

Valuation

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Market cap$2.32B+12.6%
Enterprise value$1.92B+19.5%
P/S13.9×+0.8×

Profitability

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Gross margin13.6%-9.5pp
Operating margin-75.9%+292pp
Net margin-72.9%+61.8pp
FCF margin-152.6%

Returns & leverage

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Return on equity-59.9%
Debt / equity0.1×
Current ratio4.6×

Where this comes from

Reported directly by Voyager Technologies in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: Voyager Technologies’s 10-K, filed March 10, 2026.

Filed
Mar 10, 2026, 5:17 PM EDT
Fiscal year
FY2025
Accession
0001628280-26-016543
Line itemDefense and National SecuritySpace SolutionsStarlab Space StationsTotal
OPC Acquisition3,9953,995
EMSI Acquisition21,59821,598
ExoTerra Acquisition57,29057,290
Estes Acquisition28,27628,276
Balance as of December 31, 2025$133,028$19,899$4,747$157,674
Gross goodwill$205,887$48,348$4,747$258,982
Accumulated impairment(72,859)(28,449)(101,308)
Net goodwill$133,028$19,899$4,747$157,674

Item 8. Financial Statements and Supplementary Data

FAQ

What is Voyager Technologies's defense and national security — goodwill?
Voyager Technologies (VOYG) reported defense and national security — goodwill of $133.03M in Q4 2025.
What does defense and national security — goodwill mean?
The net carrying value of goodwill assigned to the Defense and National Security segment after accounting for any accumulated impairment losses. This represents the residual value of intangible assets, such as brand reputation and customer relationships, acquired through business combinations. Investors monitor this to assess the segment's reliance on intangible assets for future earnings potential.

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