Terran Orbital Corporation (NYSE:LLAP) Q2 2023 Earnings Call Transcript

Marc Bell: It’s actually — it’s perfect for what we do with Lockheed. So there, we’re using a GPS III facility to do the assembly and test for the SDA Transfer Layer. It really required its own facility. So we build the buses for them at our facility. We shipped the buses to their new facility to do the solar panel integration and payload integration and final testing. So it’s very complementary to what we’re doing. It’s similar to our version of a Goodyear that we’re going to be doing for us. They have their own Goodyear for them which is Waterton. So it’s a very complementary facility for us to work with.

Griffin Boss: Okay. Great. Thanks, Marc. Appreciate you taking my questions.

Marc Bell: Thank you.

Operator: We have a follow-up question from Erik Rasmussen from Stifel. Erik, your line is now open.

Erik Rasmussen: Thanks for the follow-up. Just a real — here’s just a clarification. You mentioned the Tech 50 facility is opened in Irvine. Are you now at the 20 satellite per month capacity run rate? Or is there still some work to do to get to that run rate?

Marc Bell: We are there.

Erik Rasmussen: Great. Good job.

Marc Bell: Thank you. Very excited about it.

Erik Rasmussen: That’s all I got. Thank you.

Operator: Thank you. We have no further questions on the line. I will now hand back to the management team for closing remarks.

Marc Bell: Great. Well, I just want to thank everybody for joining us today. We appreciate everyone’s participation and being patient with us as we grow as a company. We are very mindful of our cash flow, mindful of we don’t want dilution. We are very mindful that we are — we have a lot coming up in Q4. Q4 is a very big quarter for us. And then that ramp will continue on next year, which is pretty exciting. So — and we look forward to anybody who wishes to come to visit the facility. We always encourage that to see the new 50 Tech at operation and see what we do. And with that, I will turn it back over to the operator. Thank you.

Operator: Thank you. Ladies and gentlemen this concludes today’s call. Thank you for joining. You may now disconnect your lines.

Marc Bell : Operator, thank you.