-Orlando, Florida- Today, Nova Space announced its financial results for the second quarter which ended June 30th, 2022. The Chief Executive Officer of Nova Space stated, “As we head to the skies and beyond, we’ve started various initiatives to guarantee our long-term success: making agreements with new manufacturing companies, setting up a new Spaceship factory in Cape Canaveral, and acquiring more land for our Astronaut Training Campus. These are cornerstone components of how we plan to build and operate our growing company. While our short-term plans call for commercial space service to launch in the second quarter of 2023, we are still making progress on our future fleet. Many of the key elements of our roadmap are now in place to scale the business in a sustainable way."
Second Quarter 2022 Financial Highlights
• Cash position remains strong, with cash and cash equivalents and marketable securities of $1.3 billion as of June 30, 2022.
• Net loss of $131 million compared to a $94 million net loss in the second quarter of 2021.
• Selling, general, and administrative expenses of $46 million, compared to $38 million in the second quarter of 2021. Non-GAAP selling, general and administrative expenses of $36 million in the second quarter of 2022, compared to $26 million in the second quarter of 2021.
• GAAP research and development expenses of $62 million, compared to $35 million in the second quarter of 2021. Non-GAAP research and development expenses of $59 million in the second quarter of 2022, compared to $31 million in the second quarter of 2021.
• Adjusted EBITDA totaled $93 million, compared to $56 million in the second quarter of 2021.
• Free cash flow totaled $91 million, compared to $66 million in the second quarter of 2021.
• Cash paid for capital expenditures totaled $5 million, compared to $1 million in the second quarter of 2021.
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