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Voyager Technologies VOYG Starlab Space Stations — 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
Goodwill$94,728$48,348$4,747$147,823
Accumulated impairment loss(72,859)(28,449)(101,308)
Balance as of December 31, 2024$21,869$19,899$4,747$46,515
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

Item 8. Financial Statements and Supplementary Data

FAQ

What is Voyager Technologies's starlab space stations — goodwill?
Voyager Technologies (VOYG) reported starlab space stations — goodwill of $4.75M in Q4 2025.
What does starlab space stations — goodwill mean?
The net carrying value of goodwill for the Starlab Space Stations segment, calculated as the gross goodwill minus any accumulated impairment losses. This represents the intangible value attributed to the segment's market position and synergies following past acquisitions.

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