Terran Orbital has started the year by announcing two significant financial updates regarding its cash balance as well as an update on its contract with Rivada Space Networks. The company received a milestone payment from Rivada on its constellation contract. Terran Orbital said the amount was for the completion of a program milestone. Terran Orbital expects to receive additional milestone payments in 2024 and continues to expect to meet its delivery obligations under the Rivada contract on schedule in 2025 and 2026. Rivada was previously delayed on making this payment, which caused Terran Orbital to cut its financial projections for 2023.

Source: Libya Today January 02, 2024 15:15 UTC