Terran Orbital Corporation (NYSE:LLAP) Q1 2022 Earnings Conference Call May 13, 2022 8:30 AM ET
Company Participants
Marc Bell – Co-Founder, Chairman & Chief Executive Officer
Gary Hobart – Chief Financial Officer, Executive Vice President
Conference Call Participants
Greg Konrad – Jefferies
Robert Spingarn – Melius Research
Josh Sullivan – The Benchmark Company
Austin Moeller – Canaccord Genuity
Suji Desilva – ROTH Capital Partners
Eric Bippen – Stifel Financial Corp.
Ruben Roy – WestPark Capital
Operator
Hello everyone, and welcome to the Terran Orbital First Quarter 2022 Earnings Call. My name is Victoria and I will be coordinating your call today. [Operator Instructions] I'll now pass it over to your host, Marc Bell, to begin. Please go ahead.
Unidentified Analyst
Thank you, Victoria. Good morning, everyone. And thank you for joining Terran Orbital 's First-Quarter 2022 earnings call. With me this morning are Marc Bell, Founder, Chairman, and Chief Executive Officer of Terran Orbital Corporation, and Gary Hobart, Chief Financial Officer, Terran Orbital Corporation. Marc, will provide a business update and highlights for the quarter. And then Gary will give an overview of our results. Our executive team will be available to answer your questions. During today's call, we may make certain forward-looking statements. These statements are based on current expectations and assumptions and as a result, are subject to risks and uncertainties. Many factors could cause actual results to differ materially from the forward-looking statements made on this call.
For more information about these risks and uncertainties, please refer to the risk factors in the company's filings with the Securities and Exchange Commission, each of which can be found on our website, www.terranorbital.com. Leaders are cautioned not to put any undue reliance on forward-looking statements, and the company's specifically disclaims any obligation to update the forward-looking statements that may be discussed during this call. Please also note that we will refer to certain non-GAAP financial information on today's call. You can find reconciliations of the non - non-GAAP financial measures with the most comparable GAAP measures in our earnings press release. With that, I will turn the call over to Marc.
Marc Bell
Thank you Mallow. And good morning, and thank you for joining our first -- to our first quarter 2022 earnings conference call. This is a very exciting quarter at Terran Orbital. In late March, we went public and began trading on the New York Stock Exchange. We signed a record $162 million in new contracts and ended the quarter with a record backlog of over $220 million. Let me first give you an overview of the company for those of you who are new. We pioneered the space industry, small satellite revolution. We have been delivering small satellites to a broad mix of customers for over a decade, including NASA, Lockheed Martin, the Department of Defense, the Intelligence community, the European Space Agency, and numerous commercial customers. What we do matters.