VOYGVoyager Technologies, Inc./TX
Guided Missiles & Space Vehicles & Parts
- Revenue
- $166M
- 15% YoY
- Operating margin
- -65.2%
- 94% YoY
- EBITDA
- −$95M
- 173% YoY
- Market cap
- $1.5B
- Employees
- 800
- $208K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 5.9
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCYes11% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo16% of assetsOver 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeYes$208K · 15th pctBottom quartile of its SIC industry
- Quiet on AINo5.9 per 10K words · 85th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$1.5B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$9M netNet sales over $10M in 12 months
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Revenue | $136M | $144M | $166M | 15% |
| Operating income | −$14M | −$48M | −$108M | 124% |
| Net income | −$25M | −$62M | −$105M | 69% |
| Operating cash flow | −$15M | −$26M | −$61M | 139% |
| Capex | $17M | $83M | $145M | 75% |
| Stock-based comp | $3M | $4M | $19M | 403% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $9M · 4
- Net
- −$9M
Pay vs performance
No pay-versus-performance disclosure yet.