Voyager Technologies Inc (VOYG) is a defense, national security, and space technology company that develops and operates satellites, space station infrastructure, and related systems for government and commercial customers. Revenue is generated through customer-funded contracts, primarily with the U.S. government, across two reported segments: Defense and National Security, and Space Solutions. The company is also the majority owner and lead developer of Starlab, a commercial space station joint venture designed to replace the International Space Station following its planned decommissioning in 2030, with an estimated development cost of $2.8 billion to $3.3 billion and launch anticipated in 2029. Total net sales were $166.4 million for the year ended December 31, 2025, up 15.4% from $144.2 million in FY2024. The U.S. government accounted for $143.2 million of FY2025 net sales, with commercial and international customers contributing $23.2 million. CEO Dylan Taylor and President Matthew Kuta signed the 10-K filed March 10, 2026.

Revenue model

Customer-funded contracts with U.S. government agencies and commercial and international clients, structured across Defense and National Security and Space Solutions segments. Research and development costs are partially offset by government grant assistance, which totaled $6.2 million against R&D and $54.0 million against construction in progress for FY2025.

Products and services

Satellite deployment services (over 330 satellites deployed to date), ISS-based research and payload hosting, the Space Acceleration Measurement System (SAMS, operating on the ISS since 2001), and Starlab, a commercial space station under development. End-use applications include biopharma research, agriculture, DoD technology demonstrations, media programs, and STEM workforce development.

Customers and end markets

U.S. government is the dominant customer at $143.2 million, or approximately 86% of FY2025 net sales. Commercial and international customers contributed $23.2 million. End markets include defense, national security, and civil space, with over 1,000 customer missions conducted by organizations in more than 35 nations and territories to date.

Value-chain role

Vertically involved from technology development and manufacturing through satellite deployment, on-orbit operations, and commercial space station development. Described in the 10-K as the largest commercial user of the ISS in the world. Starlab JV is Voyager-led and majority-owned.

Geographic exposure

Primarily U.S.-focused by revenue, with international customer missions conducted across more than 35 nations and territories. Starlab is structured as a global joint venture.

Source: SEC 10-K, filed 2026-03-10

Industry: Guided Missiles & Space Vehicles & Parts