Voyager Technologies, Inc. Class A (VOYG) AI Stock Analysis

• Market Cap: $1.55B
• Dividend Yield: N/A
• Average Volume (3M): 926.83K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.08
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 514
• Sector: Industrials
• Sector Strength: 72
• Industry: Aerospace & Defense
• EPS (TTM): -0.22
• Shares Outstanding: 53,211,075
• 10 Day Avg. Volume: 677,168
• 30 Day Avg. Volume: 926,834
• PEG Ratio: -0.56
• Price to Book (P/B): 58.49
• Price to Sales (P/S): 22.81
• P/FCF Ratio: -30.39
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 11.60
• Enterprise Value/Gross Profit: 69.89
• Enterprise Value/Ebitda: -20.19
• 1Y Price Target: $47.67
• Price Target Upside: 103.28% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -1.8
• Revenue Forecast (FY): $168.32M

• Rating: 46 Neutral
• Price Target: $23.50 ▲(0.21% Upside)

Voyager Technologies, Inc. faces significant financial and technical challenges. The company's financial instability, marked by rising losses and negative cash flows, is the most significant factor impacting the score. Technical analysis indicates bearish momentum, further weighing on the stock. Valuation uncertainty adds to the risk profile, as key metrics are unavailable. Despite some positive developments in the earnings call, the overall outlook remains cautious.

Positive Factors

Strategic Acquisitions

Acquiring BridgeComm technology enhances Voyager's capabilities in communication technology, potentially opening new revenue streams and strengthening its market position.

Growth in Core Business

Growth in the core defense business indicates strong demand and effective execution of strategic initiatives, supporting long-term revenue expansion and market leadership.

Partnerships and Innovation

The partnership with Vivace for Starlab advances Voyager's innovation in space technology, enhancing its competitive edge and expanding its market opportunities.

Negative Factors

Rising Losses

Increasing losses indicate operational inefficiencies and challenges in achieving profitability, which could hinder long-term financial stability and growth.

Negative Cash Flows

Severe cash outflows and reliance on financing activities highlight cash management issues, potentially limiting the company's ability to invest in growth and innovation.

High Leverage

High leverage increases financial risk and limits flexibility, potentially impacting the company's ability to navigate economic downturns or invest in new opportunities.

Voyager Technologies, Inc. Class A Business Overview & Revenue Model

Company Description

Voyager Technologies, Inc. operates as a defense technology and space solutions company in the United States, Europe, the Middle East, and internationally. It operates through three segments: Defense & National Security, Space Solutions, and Starlab Space Stations. The Defense & National Security segment provides defense systems, such as missile defense interceptors, kill vehicles, and hypersonic missiles and reentry systems; signal intelligence systems, including software solutions that deliver critical intelligence to the modern warfighter; communication technologies comprising radiation-hardened laser and RF communications systems and advanced electro-optical and digital systems; and guidance, navigation, and control systems consisting of sun sensors, star trackers, and inertial measurement units, as well as artificial intelligence powered edge computing products. The Space Solutions segment offers advanced space technology systems, such as in-space propulsion systems with applications for orbital servicing, manufacturing, and deep space exploration; space infrastructure, including software solutions that deliver critical intelligence to the modern warfighter; and space science and mission management products. The Starlab Space Stations segment operates a commercial space station and provides continued permanent human presence in space. It serves defense, national security, and space industries. The company was formerly known as Voyager Space Holdings, Inc. and changed its name to Voyager Technologies, Inc. in February 2025. Voyager Technologies, Inc. was incorporated in 2019 and is headquartered in Denver, Colorado.

How the Company Makes Money

Voyager Technologies generates revenue through a combination of government contracts, commercial sales, and subscription-based services. The company primarily earns money by securing contracts with defense and aerospace agencies, which often involve long-term agreements for software development and support. Additionally, Voyager offers its products on a subscription basis, providing ongoing revenue from clients who require continuous access to its technology solutions. Strategic partnerships with other technology firms and defense contractors also contribute to its revenue, as these collaborations can lead to joint projects and expanded market reach.

Voyager Technologies, Inc. Class A Financial Statement Overview

Summary

Voyager Technologies, Inc. faces significant financial challenges with rising losses and negative cash flows. While there is some revenue growth and increased equity, high leverage and negative margins indicate financial instability. The reliance on external financing raises concerns about sustainability.

Income Statement

Voyager Technologies, Inc. demonstrates a significant challenge in profitability, evidenced by a worsening Net Profit Margin from -18.7% to -43.0% and a decline in EBIT margin. Revenue growth is modest at 6.0%, but the increasing losses suggest operational inefficiencies.

Balance Sheet

The company's Debt-to-Equity ratio is high at 1.75, indicating substantial leverage, but there is a positive increase in Stockholders' Equity, showing some improvement in financial structure. The Equity Ratio is relatively low at 22.7%, suggesting limited asset backing by equity.

Cash Flow

Free Cash Flow has deteriorated by 232.0%, highlighting severe cash outflows, while Operating Cash Flow to Net Income ratio remains negative, reflecting operational cash challenges. The company relies heavily on financing activities to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023
Income Statement
Total Revenue	119.77M	144.18M	136.06M
Gross Profit	19.89M	34.91M	27.79M
EBITDA	-68.85M	-38.94M	-1.34M
Net Income	-74.59M	-62.07M	-25.44M
Balance Sheet
Total Assets	727.80M	247.60M	188.89M
Cash, Cash Equivalents and Short-Term Investments	413.32M	55.93M	30.28M
Total Debt	10.51M	98.22M	86.33M
Total Liabilities	109.31M	187.67M	158.60M
Stockholders Equity	590.86M	23.79M	-12.47M
Cash Flow
Free Cash Flow	-142.53M	-108.20M	-32.59M
Operating Cash Flow	-45.96M	-25.50M	-15.38M
Investing Cash Flow	-88.84M	-27.77M	11.60M
Financing Cash Flow	492.07M	78.96M	1.93M

Voyager Technologies, Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCIG	68 Neutral	$7.59M	―	―	―	―	―
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
DFLI	48 Neutral	$108.71M	―	―	―	4.80%	16.72%
VOYG	46 Neutral	$1.55B	―	―	―	―	―
HYFM	43 Neutral	$11.18M	―	-27.51%	―	-23.40%	13.78%
XPON	43 Neutral	$4.31M	-0.05	-504.67%	―	68.33%	78.66%

Voyager Technologies, Inc. Class A Corporate Events

Voyager Technologies Reports Q3 2025 Financial Results

Voyager Technologies, Inc. is a defense and space technology company focused on delivering transformative, mission-critical solutions to advance national security and space exploration. In its third quarter of 2025, Voyager Technologies reported net sales of $39.6 million, with significant growth in its Defense and National Security segment, which saw a 31% increase in sales. The company also strengthened its portfolio through strategic acquisitions and investments in next-generation technologies. Despite a net loss of $16.3 million, Voyager maintains a robust balance sheet with $413.3 million in cash and cash equivalents, supporting its growth initiatives. Key financial highlights include a book-to-bill ratio of 1.25 and a total backlog increase to $188.6 million. The company also achieved two NASA milestones in its Starlab program, receiving $4.0 million in cash proceeds. Looking ahead, Voyager expects its full-year 2025 revenue to be at the high end of its guidance range, reflecting the resilience of its business model and successful execution of its growth strategy.

Voyager Technologies’ Earnings Call: Growth Amid Challenges

Voyager Technologies, Inc. recently held its earnings call, revealing a blend of positive achievements and notable challenges. The company reported strong growth in its Defense and National Security segment and reinforced its strategic position through acquisitions. However, it faced hurdles with a significant adjusted EBITDA loss and a decline in the Space Solutions segment. Despite these challenges, Voyager remains optimistic about its future, supported by a robust pipeline and strategic advancements in the Starlab project.