Terran Orbital SPAC Presentation Deck
Significant Growth Powered by Strong Pipeline and Early Incumbent Status
Satellite Solutions: Strong and Growing Base
1 of 2
Awardees on SDA Transport Layer
Tranche 0 Contract
$75M+
Funded Backlog
$9B+
Gross Pipeline
$1.5B+
Weighted Pipeline
Earth Observation Solutions:
Scalable Platform & Rapid Expansion
96
Satellite Constellation Will
Be One of the Most Advanced
1 of 3
Selectees on Landmark NRO
Research Program²
>75%³
Adj. EBITDA Margins; Scalable,
High-Margin, Recurring Revenue
Projected Revenue and Adj. EBITDA Margin
Target Cumulative Satellites¹:
($ in millions)
Significant near-term
revenue visibility
$25
$35
FY2020A
2
16
21%
FY2022P
$411
$128
$96
$94 $3 $283
FY2021P
Satellite Solutions Revenue
Source: Company management.
Note: Funded Backlog represents performance obligations as of December 31, 2020. This slide includes the Non-GAAP
financial measure Adjusted EBITDA Margin. See the Appendix for reconciliations of Non-GAAP financial measures for historical periods to the most comparable U.S. GAAP financial measures.
1 Cumulative Satellites is a target and subject to change.
2 Subsequent to selection, NRO put out a new request for proposal, on which the Company intends to bid.
3 References Earth Observation Solutions 2026P Adjusted EBITDA Margins.
TERRAN ORBITAL
32
45%
$967
$532
$435
FY2023P
FY2024P
Earth Observation Solutions Revenue
64
55%
$1,700
$1,060
$640
FY2025P
96
$2,640
61%
$1,721
$918
FY2026P
Adj. EBITDA Margin
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