The brief

Analyst view

• 42 York-built Tranche 1 transport satellites are in orbit after launches in Sep 2025 and Jul 2026.
• Listed on the NYSE in Jan 2026, raising $629M at about a $4.75B market value.
• Cut 2026 revenue guidance to $375-405M in August as Pentagon buying shifted to slower contracts.

Technical approach

As reported

Standard buses

Three standard platforms

S-CLASS, LX-CLASS and M-CLASS share much of their design, so one production line serves small and large missions.

Production

Satellites built like products

Instead of a custom spacecraft per mission, York builds the same bus repeatedly, which it says halves cost against traditional rivals.

Operations

Build and fly

Contracts often include ground systems and operating the satellites after launch, not just delivering hardware.