Voyager Technologies kicks off trading on the NYSE after pricing its IPO at $31above its marketed $26$29 rangeraising $382.8 million at a $1.9 billion market cap in what Wall Street sees as a litmus test for space-sector stocks.
Backed by Palantir Technologies (NASDAQ:PLTR) and Lockheed Martin (NYSE:LMT), Voyager’s debut follows Circle’s blockbuster listing and precedes Chime’s IPO, spotlighting investor appetite for high-growth tech niches.
Founded in Colorado, Voyager specializes in defense and commercial space technologies, with NASA as its largest customer under a $217.5 million contract to design the Starlab space station set to succeed the ISS around 2030.
In 2024, Voyager posted $144.2 million in sales26% of which came from NASAand saw revenue grow 6% last year and 14% in Q1 2025, though it reported a $65.6 million net loss as it scales operations.
Management expanded the share sale to 12.35 million shares to meet demand, tapping a broad investor base eager for exposure to orbital infrastructure ahead of U.S. defense initiatives like the proposed Golden Dome missile-defense shield.
Investors should care because Voyager’s trading performance will gauge market enthusiasm for space plays amid a wave of tech IPOs, and its strong NASA ties provide a steady revenue pillar even as profitability remains a longer-term goal.
Investors will watch VOYG’s first-day trading action and future earnings reports for signs that government contracts and rising commercial space investments can drive sustained growth and narrow net losses.
This article first appeared on GuruFocus.
