UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of Registrant as Specified in Its Charter)
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
| |
||
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code:
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On May 12, 2022, we held our inaugural Astra SpaceTech Day at our headquarters and through livestream. The video of the livestream is available on our Twitter account (@astra), our LinkedIn account (linkedin/company/astraspace) and our website at www.astra.com. The PowerPoint slides that were presented in conjunction with Astra SpaceTech Day are included here as Exhibit 99.1.
Once available, we will also furnish the transcript of the livestream of our Astra SpaceTech Day.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Astra SpaceTech Day PowerPoint slides issued on May 12, 2022 | |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: May 13, 2022 | Astra Space, Inc. | |||||
| By: | /s/ Kelyn Brannon | |||||
| Name: | Kelyn Brannon | |||||
| Title: | Chief Financial Officer | |||||
Exhibit 99.1 SPACETECH DAY 2022
KELYN BRANNON CHIEF FINANCIAL OFFICER
DISCLAIMER AND FORWARD-LOOKING STATEMENTS Accordingly, none of Astra nor its respective affiliates and advisors makes any representations as Certain statements made in this presentation are “forward-looking statements”. Forward-looking to the accuracy or completeness of these data. Certain amounts related to the transaction statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, described herein have been expressed in U.S. dollars for convenience and, when expressed in U.S. “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or dollars in the future, such amounts may be different from those set forth herein. trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, Non-GAAP Financial Measures. This Presentation includes non-GAAP financial measures. Astra actual results may differ materially from Astra’s expectations or projections, including the following believes that these non-GAAP measures of financial results provide useful information to factors, among others: (i) the failure to meet projected development and launch targets, including as a management and investors regarding certain financial and business trends relating to Astra’s result of the decisions of governmental authorities or other third parties not within our control, weather financial condition and results of operations. Astra’s management uses certain of these non-GAAP and other suboptimal conditions that may it difficult to perform a launch attempt; (ii) changes in measures to compare Astra’s performance to that of prior periods for trend analyses and for applicable laws or regulations; (iii) the ability of Astra to meet its financial and strategic goals, due to, budgeting and planning purposes. among other things, competition; (iv) the ability of Astra to pursue a growth strategy and manage growth profitability; (v) the possibility that Astra may be adversely affected by other economic, business, and/or All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong competitive factors; (vi) the effect of the COVID-19 pandemic on Astra, (vii) the ability to manage its cash to their respective owners and Astra’s use thereof does not imply an affiliation with, or outflows during its business operations and (vii) other risks and uncertainties described herein, as well endorsement by the owners of such trademarks, copyrights, logos and other intellectual property. as those risks and uncertainties discussed from time to time in other reports and other public filings Solely for convenience, trademarks and trade names referred to in this Presentation may appear with the Securities and Exchange Commission by Astra. with the ® or ™ symbols, but such references are not intended to indicate, in any way, that such names and logos are trademarks or registered trademarks of Astra. This Presentation contains statistical data, estimates and forecasts that have been provided by Astra and/or are based on independent industry publications or other publicly available information, as well as other information based on Astra’s internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data that has been provided by Astra and/or contained in these industry publications and other publicly available information.
MAYOR MARILYN EZZY ASHCRAFT MAYOR OF ALAMEDA
KELYN BRANNON CHIEF FINANCIAL OFFICER
CHRIS KEMP FOUNDER, CHAIRMAN AND CEO
TM IMPROVE LIFE ON EARTH FROM SPACE
AFTER BEFORE Photos by Planet Composite by Luis G. Rendon/The Daily Beast
Vice Prime Minister Mykhailo Fedorov via Twitter
Courtesy of NASA Hurricane + Cyclone Image Gallery
Photo by Brady Kenniston
$1.0+ Trillion (1) Total Space Economy in 2040 SPACE IS THE NEXT ECONOMIC FRONTIER $216 Billion (2) Satellite Manufacturing Spending through 2030 Astra is the third privately-funded U.S. company in history to reach space and $40.7 Billion (3) Government Investment in Space demonstrate orbital capability 400+ (4) Private U.S. Companies Source: Wall Street Research, Space Capital. (1) Per Morgan Stanley Research. (2) Based on projected FY’21 DoD and NASA budgets from Jefferies, What’s Up in Space: New Launchers, Same Incumbents (Aug. 2020). (3) Companies currently operating space assets or with plans to launch them in the next 3 years. (4) Companies currently operating space assets or with plans to launch them in the near term.
GLOBAL BROADBAND CONNECTIVITY Reliable, low latency connectivity that could leapfrog wireless IOT / M2M Monitoring billions of objects NUMEROUS MULTI-BILLION EARTH OBSERVATION Monitoring activity on earth DOLLAR MARKETS NATIONAL SECURITY Early warning systems NEXT-GENERATION WEATHER, GPS, AND OTHER SERVICES Leapfrogging wireless
A vision for a healthier and more connected Earth.
JUN ’19 OCT ’16 Astra rocket Astra is factory founded opens 2016 2017 2018 2019 2020 2021 2023 2022 AUG ’21 JUL ’18 NOV ’18 MAR ’20 SEP ’20 NOV ’21 MAR ‘22 DEC ’20 FEB ‘22 Q2-Q3 ’22 Q4 ‘22 rd st st 3 Orbital First Test Second Test DARPA 1 Orbital Achieve LV0007 First Cape Deploy 1 NASA TROPICS Missions Rocket 4 Launch Launch Launch Challenge Launch orbital Reaches Customer Canaveral Test Launch Delta-V Attempt Attempt Orbit Satellites Launch
LOWEST COST PER KILOGRAM LOWEST COST PER LAUNCH Depreciation and amortization of rocket & development Raw material cost Labor in launch ops Amortization of factory equipment Minimum fuel, insurance, and operating costs Labor in manufacturing and launch ops
DR. WILL MCCARTY PROGRAM SCIENTIST, NASA
DR. ADAM LONDON FOUNDER AND CTO
WHY SMALL ROCKETS? • ORBITAL COMPLEXITY • ECONOMIES OF SCALE • CAPITAL EFFICIENCY
MANY ADDRESSES IN SPACE Inclination Altitude Rotation (LTAN or RAAN)
CONSTELLATIONS NEEDS DEPLOYMENT SPARES/REPLACEMENT END-OF-LIFE REPLENISHMENT
CONSTELLATIONS NEEDS DEPLOYMENT SPARES/REPLACEMENT END-OF-LIFE REPLENISHMENT ASAP
CONSTELLATIONS NEEDS DEPLOYMENT SPARES/REPLACEMENT END-OF-LIFE REPLENISHMENT ASAP
ECONOMIES OF SCALE $1000s ASTRA’S TARGET $100s $10s 10s 1000s 100,000s ANNUAL PRODUCTION - UNITS MANUFACTURING COST - $ PER DRY KG
COST PER SATELLITE (TODAY/TRADITIONAL VIEW) SMALL LAUNCH BIG LAUNCH
COST PER SATELLITE (AT SCALE) COST OF LOST TIME DIRECT COSTS SMALL LAUNCH BIG LAUNCH
COST PER SATELLITE (AT SCALE) CAPITAL COSTS COST OF LOST TIME DIRECT COSTS SMALL LAUNCH BIG LAUNCH
COST PER LAUNCH (AT SCALE) COST OF LOST TIME DIRECT COSTS SMALL LAUNCH BIG LAUNCH
CONSTELLATIONS NEEDS DEPLOYMENT SPARES/REPLACEMENT END-OF-LIFE REPLENISHMENT ASAP
WHAT ABOUT REUSABILITY? (TRADITIONAL VIEW) PRODUCTION COSTS OPERATIONAL COSTS DEDICATED LAUNCH ~4x REUSE ~20x REUSE
WHAT ABOUT REUSABILITY? (FULL ECONOMICS) CAPITAL COSTS PRODUCTION COSTS OPERATIONAL COSTS DEDICATED LAUNCH ~4x REUSE ~20x REUSE
SIMPLE ROCKETS, MADE AT SCALE
CHRIS KEMP FOUNDER, CHAIRMAN AND CEO
Globe image with satellites from the SODAH project / SODAHconstellation.eu
LAUNCH SYSTEM 2.0
CADENCE CAPACITY COST
26 Q1 2022 GLOBAL ORBITAL LAUNCHES
DESIGNED FOR * WEEKLY LAUNCH *Many factors outside of Astra's control such as regulatory bodies, licenses, spaceport capacity and customer readiness may impact realized launch cadence.
à 21 8
1 DAY RECYCLE TIME
SaxaVord, Scotland
180 KG AVG. LAUNCH MASS PER SATELLITE 2021-2030
300 KG PAYLOAD TO LEO
ROCKET 3.3 ROCKET 4.0
3.95M - BASE LAUNCH PRICE
1.0 2.0 3.0 300 KG ~90% TOTAL ADDRESSABLE MARKET
SPACE PRODUCTS
82 Spacecraft Engines Sold
SPACE SERVICES
BENJAMIN LYON CHIEF ENGINEER, EVP ENGINEERING & OPERATIONS
à
PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
SCALE IS WHAT MAKES INNOVATION MATTER REID HOFFMAN
MARTIN ATTIQ CHIEF BUSINESS OFFICER
THE FUTURE OF SPACE ACCESS PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
PAIN POINTS CAPITAL TIME TECHNOLOGY PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
SPACE ACCESS FOR ENTERPRISE PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
CLOUD COMPUTE PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
INDUSTRY TRANSFORMATION CAPITAL EXPENSES SUBSCRIPTION PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
$1 TRILLION OPPORTUNITY PHASE 3 PHASE 1 PHASE 2 Launch Services Space Products Space Services TOTAL SPACE ECONOMY IN 2040: $1 TRILLION+ PROPRIETARY & CONFIDENTIAL — DO NOT REDISTRIBUTE
KELYN BRANNON CHIEF FINANCIAL OFFICER
INVESTING IN FUTURE PROFITABILITY LAUNCH SERVICES SPACE SPACE SERVICES PRODUCTS (1) Represents current state and does not factor in future development
LONG-TERM FINANCIAL MODEL STEADY STATE NON-GAAP GROSS MARGIN 50% to 60% SALES & MARKETING ~6% RESEARCH & DEVELOPMENT ~18% GENERAL & ADMINISTRATIVE ~6% ADJUSTED NET INCOME ~25% (1) Operating Expenses are on a Non-GAAP basis which excludes Stock Based Compensation, Depreciation and Amortization (2) See “Explanation of Adjusted (or Non-GAAP) Financial Measures” in our press release included as Exhibit 99.1 in the current report on Form 8-k filed with the Securities and Exchange Commission on May 5, 2022 (3) All figures are expressed as a percentage of revenues
DISCLAIMER AND FORWARD-LOOKING STATEMENTS Accordingly, none of Astra nor its respective affiliates and advisors makes any representations as Certain statements made in this presentation are “forward-looking statements”. Forward-looking to the accuracy or completeness of these data. Certain amounts related to the transaction statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, described herein have been expressed in U.S. dollars for convenience and, when expressed in U.S. “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or dollars in the future, such amounts may be different from those set forth herein. trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, Non-GAAP Financial Measures. This Presentation includes non-GAAP financial measures. Astra actual results may differ materially from Astra’s expectations or projections, including the following believes that these non-GAAP measures of financial results provide useful information to factors, among others: (i) the failure to meet projected development and launch targets, including as a management and investors regarding certain financial and business trends relating to Astra’s result of the decisions of governmental authorities or other third parties not within our control, weather financial condition and results of operations. Astra’s management uses certain of these non-GAAP and other suboptimal conditions that may it difficult to perform a launch attempt; (ii) changes in measures to compare Astra’s performance to that of prior periods for trend analyses and for applicable laws or regulations; (iii) the ability of Astra to meet its financial and strategic goals, due to, budgeting and planning purposes. among other things, competition; (iv) the ability of Astra to pursue a growth strategy and manage growth profitability; (v) the possibility that Astra may be adversely affected by other economic, business, and/or All rights to the trademarks, copyrights, logos and other intellectual property listed herein belong competitive factors; (vi) the effect of the COVID-19 pandemic on Astra, (vii) the ability to manage its cash to their respective owners and Astra’s use thereof does not imply an affiliation with, or outflows during its business operations and (vii) other risks and uncertainties described herein, as well endorsement by the owners of such trademarks, copyrights, logos and other intellectual property. as those risks and uncertainties discussed from time to time in other reports and other public filings Solely for convenience, trademarks and trade names referred to in this Presentation may appear with the Securities and Exchange Commission by Astra. with the ® or ™ symbols, but such references are not intended to indicate, in any way, that such names and logos are trademarks or registered trademarks of Astra. This Presentation contains statistical data, estimates and forecasts that have been provided by Astra and/or are based on independent industry publications or other publicly available information, as well as other information based on Astra’s internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data that has been provided by Astra and/or contained in these industry publications and other publicly available information.
Q & A
SPACETECH DAY 2022