Terran Orbital Corporation (NYSE:LLAP) Q3 2023 Earnings Call Transcript November 14, 2023 11:00 AM ET
Company Participants
Jonathan Siegmann - Senior Vice President of Corporate Development
Marc Bell - Co-Founder, Chairman and Chief Executive Officer
Mathieu Riffel - Acting CFO
Conference Call Participants
Erik Rasmussen - Stifel
Griffin Boss - B. Riley Securities
Scott Buck - H.C. Wainwright
Operator
Hello, everyone, welcome to the Terran Orbital Q3 2023 Earnings Call. My name is Emily, and I'll be coordinating your call today. [Operator Instructions]. I'll now turn the call over to our host, Jonathan Siegmann. Please go ahead, Jonathan.
Jonathan Siegmann
Thank you, Emily. Good morning, everyone, and thank you for joining Terran Orbital's Third Quarter 2023 Earnings. With me this morning are Marc Bell, Co-Founder, Chairman and Chief Executive Officer of Terran Orbital Corporation; and Matt Riffel, acting Chief Financial Officer, Corporate Controller of Terran Orbital Corporation. Marc will provide a business update and highlights of the past quarter, and then Matt will review the quarterly results. Terran overall executive team will then be available to answer your questions.
During today's call, we may make certain forward-looking statements. These statements are based on our current expectations and assumptions, and as a result, are subject to risks and uncertainties. Many factors could cause actual events to differ materially from forward-looking statements made on this call. For more information about these risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission, each of which can be found on our website, www.terranorbital.com.
Readers are cautioned not to put any undue reliance on forward-looking statements, and the company 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-GAAP financial measures with the most comparable GAAP measures in our earnings press release.
With that, I will turn it over to Marc.
Marc Bell
Well, thank you, John. Thank you, everyone, for joining our third quarter 2023 earnings conference call. I also want to thank those of you who attended our virtual town hall event on October 26, which is part of our effort to increase investor engagement. During our town hall, we were pleased to highlight the team's recently announced contract wins across three several programs and two continents, our active engagement on 80 opportunities relating to more than 2,800 satellites for 40 different customers [indiscernible] valued at over $2.7 billion, and our current expectation that we will have sufficient cash to cover capital investments and operations until becoming cash flow positive, which is expected in 2024.