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Voyager Technologies VOYG Starlab Space Stations — Adjusted EBITDA

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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 voyg:EarningsBeforeInterestTaxDepreciationAndAmortization.

The source filing: Voyager Technologies’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 1:13 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001628280-26-030331
Line itemThree Months Ended / March 31, 2026Three Months Ended / March 31, 2025
Total Other Segment Expenses$68,577$55,863
Adjusted EBITDA:
Defense and Space Technologies$(11,505)$(1,068)
Starlab Space Stations (3)(5,418)(2,814)
Total Adjusted EBITDA, reportable segments(16,923)(3,882)
Intersegment eliminations
Corporate and other expenses (3)(16,408)(17,474)
Depreciation and amortization(6,033)(2,602)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Voyager Technologies's starlab space stations — adjusted EBITDA?
Voyager Technologies (VOYG) reported starlab space stations — adjusted EBITDA of -$5.42M in Q1 2026.
How has Voyager Technologies's starlab space stations — adjusted EBITDA changed year-over-year?
Voyager Technologies's starlab space stations — adjusted EBITDA decreased by 92.5% year-over-year, from -$2.81M to -$5.42M.
What is the long-term trend for Voyager Technologies's starlab space stations — adjusted EBITDA?
Over 2 years (2023 to 2025), Voyager Technologies's starlab space stations — adjusted EBITDA has grown at a 22.1% compound annual growth rate (CAGR), from $12.57M to -$18.73M.
What does starlab space stations — adjusted EBITDA mean?
Measures the operational profitability of the Starlab Space Stations segment by excluding interest, taxes, depreciation, amortization, and non-recurring items. It serves as a key indicator of the segment's core cash-generating capability before accounting for capital-intensive infrastructure investments.

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