YSS
YSS
York Space Systems, Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2024 | $76.61M | $32.47M | $-25.27M | -32.98% | $-0.03 | $-7.39M |
What's going well?
The company is generating $76.6 million in revenue and maintains a clean set of earnings without unusual charges. R&D spending at 7% of revenue shows some commitment to future growth.
What's concerning?
YSS is losing money at both the operating and net level, with a net loss of $25.3 million and negative margins. High interest expense and bloated overhead are putting serious pressure on the bottom line.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $22.54M ▼ | $1.31B ▼ | $517.61M ▼ | $0 ▼ |
| Q4-2024 | $104.66M | $1.47B | $624.35M | $846.33M |
What's financially strong about this company?
Some customers are still prepaying for services, and the company has invested a bit more in physical assets. Inventory is down, so less risk of unsold goods piling up.
What are the financial risks or weaknesses?
Cash has almost run out, equity is gone, and debt is rising. Most assets are intangible, which could lose value quickly if the business struggles. Liquidity is very tight, and the company is delaying payments to suppliers.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2024 | $-25.27M | $67.51M | $-4.32M | $0 | $63.04M | $63.19M |
What's strong about this company's cash flow?
The company is generating strong cash flow from its core business, with $67.5 million from operations and $63.2 million in free cash flow. No reliance on debt or new shares, and cash reserves are growing.
What are the cash flow concerns?
A big chunk of cash flow came from working capital changes, which may not repeat. The company posted an accounting loss, so profits aren't matching cash flow yet.
5-Year Trend Analysis
A comprehensive look at York Space Systems, Inc.'s financial evolution and strategic trajectory over the past five years.
York combines a growing revenue base with a strong strategic position in the rapidly expanding space-defense sector. It offers fast, standardized, and comparatively low-cost satellite platforms, backed by vertical integration and proven performance on critical government programs. Cash flow generation has improved to the point of positive free cash flow, and the company has added to its cash reserves while keeping debt from rising materially. Its innovation engine is active, with significant R&D investment and a clear roadmap.
The company is experiencing sharply widening losses, worsening margins, and a deepening accumulated deficit, all of which strain its financial resilience. Short-term liquidity metrics have weakened as obligations outpace liquid assets, and equity is eroding. Operational and execution risks are heightened by its dependence on a small number of large, complex government programs, while intense competition and potential policy or budget shifts add further uncertainty. The success of its heavy R&D and capacity investments is not yet visible in sustained profitability.
York appears to be in a classic scale-up phase: strategically well placed in a structurally growing market, but under meaningful financial and execution pressure. If it can continue to deliver on major government contracts, maintain its speed and cost advantages, and convert its innovation pipeline into recurring, cash-generating programs, the company’s long-term position could strengthen considerably. Conversely, persistent cost overruns, program setbacks, or policy changes could challenge both its financial footing and its competitive standing. The balance between strong strategic positioning and fragile current profitability will be the key dynamic to watch going forward.
About York Space Systems, Inc.
https://www.yorkspacesystems.comYork Space Systems, Inc. engages in providing a comprehensive suite of mission-critical solutions for national security, government, and commercial customers.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2024 | $76.61M | $32.47M | $-25.27M | -32.98% | $-0.03 | $-7.39M |
What's going well?
The company is generating $76.6 million in revenue and maintains a clean set of earnings without unusual charges. R&D spending at 7% of revenue shows some commitment to future growth.
What's concerning?
YSS is losing money at both the operating and net level, with a net loss of $25.3 million and negative margins. High interest expense and bloated overhead are putting serious pressure on the bottom line.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $22.54M ▼ | $1.31B ▼ | $517.61M ▼ | $0 ▼ |
| Q4-2024 | $104.66M | $1.47B | $624.35M | $846.33M |
What's financially strong about this company?
Some customers are still prepaying for services, and the company has invested a bit more in physical assets. Inventory is down, so less risk of unsold goods piling up.
What are the financial risks or weaknesses?
Cash has almost run out, equity is gone, and debt is rising. Most assets are intangible, which could lose value quickly if the business struggles. Liquidity is very tight, and the company is delaying payments to suppliers.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2024 | $-25.27M | $67.51M | $-4.32M | $0 | $63.04M | $63.19M |
What's strong about this company's cash flow?
The company is generating strong cash flow from its core business, with $67.5 million from operations and $63.2 million in free cash flow. No reliance on debt or new shares, and cash reserves are growing.
What are the cash flow concerns?
A big chunk of cash flow came from working capital changes, which may not repeat. The company posted an accounting loss, so profits aren't matching cash flow yet.
5-Year Trend Analysis
A comprehensive look at York Space Systems, Inc.'s financial evolution and strategic trajectory over the past five years.
York combines a growing revenue base with a strong strategic position in the rapidly expanding space-defense sector. It offers fast, standardized, and comparatively low-cost satellite platforms, backed by vertical integration and proven performance on critical government programs. Cash flow generation has improved to the point of positive free cash flow, and the company has added to its cash reserves while keeping debt from rising materially. Its innovation engine is active, with significant R&D investment and a clear roadmap.
The company is experiencing sharply widening losses, worsening margins, and a deepening accumulated deficit, all of which strain its financial resilience. Short-term liquidity metrics have weakened as obligations outpace liquid assets, and equity is eroding. Operational and execution risks are heightened by its dependence on a small number of large, complex government programs, while intense competition and potential policy or budget shifts add further uncertainty. The success of its heavy R&D and capacity investments is not yet visible in sustained profitability.
York appears to be in a classic scale-up phase: strategically well placed in a structurally growing market, but under meaningful financial and execution pressure. If it can continue to deliver on major government contracts, maintain its speed and cost advantages, and convert its innovation pipeline into recurring, cash-generating programs, the company’s long-term position could strengthen considerably. Conversely, persistent cost overruns, program setbacks, or policy changes could challenge both its financial footing and its competitive standing. The balance between strong strategic positioning and fragile current profitability will be the key dynamic to watch going forward.
CEO
Dirk Wallinger
Compensation Summary
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Rating : D+