Virgin Orbit Suffers Net Loss of $157.3 Million in 2021

LauncherOne ignites after being dropped from Cosmic Girl. (Credit: Virgin Orbit)
  • Successfully launched 7 customer satellites onboard its LauncherOne rocket during the Above the Clouds mission on January 13, 2022, the company’s third successful launch.
  • Full year 2021 revenue increased to $7.4 million, up from $3.8 million in the prior year period.
  • Growing backlog of contracts, including selection by NASA’s launch service program to support the agency’s VADR missions.
  • Completed its going public transaction and began trading on the Nasdaq stock exchange on December 30, 2021.

LONG BEACH, Calif. (Virgin Orbit PR) — Virgin Orbit (Nasdaq: VORB) (“Virgin Orbit” or the “Company”), the responsive launch and space solutions company, today announced its financial results for the fourth quarter and full year ended December 31, 2021.

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Virgin Orbit and Arqit Expand Launch Agreements Ahead of Merger Vote

Virgin Orbit and Arqit Quantum announce an extension to their collaboration that will accelerate space-based encryption services to private, defense, and intelligence customers globally.

  • Arqit has contracted exclusively with Virgin Orbit for Arqit’s launch needs for up to 5 launches from Spaceport Cornwall beginning in 2023.
  • Virgin Orbit has acquired a quantum cloud encryption license from Arqit to provide encryption protection for its launch and space solutions businesses.
  • The two companies have previously announced a $5 million investment from Virgin Orbit into Arqit’s SPAC.

LONG BEACH, Calif. (Virgin Orbit PR) — Virgin Orbit, the responsive launch and space solutions company that has announced a planned business combination with NextGen Acquisition Corp. II (“NextGen”) (NASDAQ: NGCA), has signed a new launch contract covering two dedicated launches for Arqit Quantum, Inc. (NASDAQ: ARQQ), a global leader in quantum encryption technology, plus additional commitments. The two Arqit satellites delivered to Earth orbit by Virgin Orbit’s LauncherOne air-launched system will be the core component of Arqit’s Platform-as-a-Service, delivering the root source of randomness to all Arqit data centres using Arqit’s ground breaking Quantum protocol ARQ19.

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Virgin Orbit Invests in Hypersat

PARIS, 15 DECEMBER 2021 (Virgin Orbit PR) – Virgin Orbit, the responsive launch and space solutions company that has announced a planned business combination with NextGen Acquisition Corp. II (“NextGen”) (NASDAQ: NGCA), announced today an agreement to acquire a 17.5% stake in geospatial analytics company Hypersat LLC (“Hypersat”).

This investment will further expand Virgin Orbit’s space solutions business by providing highly accurate electro-optic and hyperspectral imagery capabilities, which can provide vital information to customers in the agriculture, defense, energy, insurance, and minerals industries, among others. The investment by Virgin Orbit is part of the company’s strategy to leverage the relationships with its satellite launch customers and space solutions end users. As part of that strategy, Virgin Orbit has previously announced investments in ArQit Quantum, SatRevolution, and Sky and Space Global.

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Seraphim Completes Investment in Arqit Quantum

LONDON (Seraphim Space PR) — Further to its announcement on 7 September 2021, Seraphim Space Investment Trust plc (LSE: SSIT), the world’s first listed fund focused on Space Tech, is pleased to announce the acquisition of the holding of Arqit Quantum Inc. (“Arqit”) from the Seraphim Space LP ( ” Seraphim Space Fund “) .

As set out in the IPO prospectus, Seraphim Space will acquire four assets from the Seraphim Space Fund for newly issued ordinary shares in the Company. This acquisition represents the second of those transactions to complete.

Arqit is a leader in quantum encryption technology designed to eliminate the threat of cyber-attack and data theft. The business has a unique quantum encryption Platform-as-a-Service which makes the communications links of any networked device secure against current and future forms of attack – even from a quantum computer.  On 7 September, Arqit completed its proposed merger with Centricus Acquisition Corp. The combined company has been renamed Arqit Quantum Inc. and its shares have commenced trading on NASDAQ under the new ticker symbol “ARQQ” for Arqit common stock.

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