Terran says it received year-end payment from constellation customer Rivada; amount appears far less than expected

by Peter B. de Selding

LA PLATA, Maryland — Small satellite manufacturer Terran Orbital said startup broadband constellation operator Rivada Space Networks, which accounts for 92% of Terran’s backlog, had made a last-minute payment that will be booked as 2023 revenue. But it appears to have been far less than what was expected.

In a Jan. 2 statement, Terran declined to disclose the payment’s amount but said Rivada is expected to make additional milestone payments in 2024.

In a separate statement Jan. 2, Terran said it expected to . . .

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