Starlab Space Station Completes Critical Design Review Milestone
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
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Should l Buy VOYG?
Source: NASDAQ.COM
- Design Review Completion: Starlab announced this week that it has completed its Commercial Critical Design Review (CCDR) with NASA, marking the 28th milestone achieved, indicating smooth project progress and potential milestone payments from NASA.
- Manufacturing and Systems Integration Ready: With the completion of the CCDR, Starlab is set to transition from design to manufacturing and systems integration, expected to have ISS-equivalent payload and crew capabilities, enhancing its competitive position in the market.
- Investor Confidence Boost: Starlab claims it will generate 'sustainable, robust revenue' for the companies involved in its construction, which is a positive signal for investors, especially since the project has the most publicly traded companies participating.
- Competitive Landscape Analysis: While Starlab is ahead of rival Orbital Reef in milestones, it lags behind Axiom and Vast, who have made greater progress in building their space station modules, indicating that Starlab needs to accelerate its pace to catch up.
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Analyst Views on VOYG
Wall Street analysts forecast VOYG stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 26.720
Low
25.00
Averages
38.80
High
45.00
Current: 26.720
Low
25.00
Averages
38.80
High
45.00
About VOYG
Voyager Technologies, Inc. is a defense technology and space solutions company. The Company is developing and delivering transformative, mission-critical solutions to customers, enabled by its advanced technology, analytics and space infrastructure capabilities. Its solutions include communications and intelligence collection systems, defense systems, advanced space technology, in-space infrastructure and space mission services. The Company’s business consists of diversified solutions across three business segments: Defense & National Security provides mission-critical solutions to protect dynamic and contested domains; Space Solutions delivers space infrastructure, advanced space technology, science systems and mission services that power commercial, academic and government missions from low-Earth orbit to deep space, and Starlab Space Stations, is a commercial space station planned to succeed the ISS and provide continued permanent human presence in space.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Earnings Announcement: Voyager Technologies is set to release its Q4 2023 earnings on March 9th after market close, with consensus EPS estimates at -$0.36 and revenue at $48.07 million, indicating ongoing challenges in profitability.
- Earnings Estimate Adjustments: Over the last three months, EPS estimates have seen one upward revision and two downward revisions, while revenue estimates have experienced no upward revisions and two downward revisions, reflecting analysts' cautious outlook on the company's future performance, which may impact investor confidence.
- Investment Agreement: Voyager Technologies has signed an investment agreement with UND to integrate early-stage innovations into the Starlab and Golden Dome projects, potentially opening new growth avenues for the company, particularly in the space technology sector.
- Market Engagement: Recently, Voyager Technologies participated in Citi's Global Industrial Tech & Mobility Conference and Barclays' 43rd Annual Industrial Select Conference, showcasing its active presence in the industry and strategic positioning for future developments.
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- Strategic Investment: Voyager Technologies announced a multi-million-dollar strategic investment in Max Space to advance the development of next-generation expandable space habitats, significantly enhancing U.S. competitiveness in space infrastructure for sustained lunar operations and future deep-space missions.
- Technological Innovation: Max Space's expandable habitat technology can expand up to 20 times its stowed volume at its destination, optimizing usable floor area per kilogram delivered, thereby enhancing human productivity and operational flexibility in a gravity environment, directly supporting NASA's Artemis Program.
- Long-Term Vision: Voyager's investment aligns with its strategic goal to deliver sustainable mission-ready systems, facilitating the transition from demonstration missions to durable lunar capabilities, underscoring the company's strong commitment to future deep-space exploration.
- Market Impact: This investment not only strengthens Max Space's market position but also provides critical enabling infrastructure that maximizes livable volume, enhances crew safety, and reduces the cost and complexity of surface deployment, further solidifying Voyager's strategic positioning in lunar and broader space domains.
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Investment Announcement: Voyager Technologies has announced a multi-million dollar investment in Max Space, focusing on lunar habitats.
Purpose of Investment: The investment aims to enhance technology and infrastructure for sustainable living on the Moon.
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- Disappointing Earnings: Voyager Technologies reported an adjusted loss per share of $2.05 in Q4, significantly worse than the expected loss of $0.36, resulting in a 2% drop in share price during after-hours trading.
- Revenue Growth Outlook: The company anticipates total revenue for 2026 to range between $225 million and $255 million, reflecting a year-over-year growth of 35% to 53%, which exceeds the market's expectation of $231.81 million, indicating strong future growth potential.
- Record Backlog: Voyager's year-end backlog reached a record $265.6 million in 2025, a 33% increase from the previous year, highlighting sustained demand in the defense and space sectors and strengthening its market position.
- NASA Milestone Achievements: Voyager's Starlab achieved 10 NASA milestones in 2025, with four completed in Q4, bringing the total to 31, demonstrating the company's technological advancements and increasing recognition in the aerospace sector.
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- Disappointing Earnings: Voyager Technologies reported a Q4 2025 non-GAAP EPS of -$0.37, missing expectations by $0.01, indicating ongoing challenges in profitability that may affect investor confidence.
- Revenue Shortfall: The company generated $46.7 million in revenue for Q4, falling short of the anticipated $61 million, reflecting weak market demand that could negatively impact future financial performance.
- Annual Sales Growth: Despite the quarterly setbacks, total net sales for 2025 reached $166.4 million, a 15% year-over-year increase, showcasing the company's growth potential in the overall market, which may attract long-term investor interest.
- Strategic Acquisitions and Development: In Q4, Voyager completed five strategic acquisitions, including ExoTerra Resource and Estes Energetics, enhancing its capabilities across propulsion, energetics, space infrastructure, and defense systems, which is expected to lay a foundation for future growth.
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- Financial Overview: Voyager Technologies reported its Q4 results after market close on Monday, revealing revenue of $46.65 million, which fell short of analyst expectations of $48.22 million, despite a year-over-year increase of 24%.
- Adjusted Loss: The company reported an adjusted loss of 37 cents per share, outperforming analyst estimates of a 55-cent loss, indicating improvements in cost management.
- Segment Performance: Revenue from the Defense and National Security segment reached $35.7 million, up 63%, while the Space Solutions segment saw a decline of 29% to $12.5 million, reflecting shifts in market demand.
- Future Outlook: Voyager expects full-year 2026 revenue to range between $225 million and $255 million, below market estimates of $231.70 million, indicating a cautious outlook on future growth.
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