York Space Systems Inc. · NYSE:YSS
York Space Systems — Q2 2026 Earnings Presentation
34 slides from York Space Systems's earnings presentation, Aug 13, 2026
Slide 1: York Q2 2026
YORK "Q2 2026
Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures
FORWARD - LOOKING STATEMENTS & NON - GAAP FINANCIAL MEASURES Forward - Looking Statements This presentation contains “forward - looking statements” within the meaning of, and the Company intends such forward - looking stat ements to be covered by, the safe harbor provisions of the Private Securities
Slide 3: Introduction
INTRODUCTION
Slide 4: York in Lead Position
New by with by in Military Space 1 Number Most Flight Number of Systems 5 Leader of Missions 2 Heritage 3 Capabilities 4 In - Orbit 1New Space defined as non - 2 Number of missions defined as 3 Flight heritage defined as number 4 Capabilities defined as mission types 5 Military systems defined as tr
Slide 5: Value Chain
MISSION OPERATIONS GROUND & GROUND SERVICES Enables efficient constellation management, real - time Enables efficient constellation coordination and streamlined management, real - time mission execution coordination and streamlined Creates flexibility that is crucial mission execution for national s
Slide 6: Mature Production
DENVER, CO York has Direct Supply Chain Control Over Essential Spacecraft Components Command & data WILLOW HARBINGER OPS CENTER ELECTRONICS CENTER POTOMAC DELAWARE handling Production / Mission Ops R&D Cutting Edge Tech Components / Mission Ops Production / Vibe Harness Electrical power system (eps)
Slide 7: Mature Supply Chain Subsidiaries
SUPPLY CHAIN CONTROL FOR MASS SCALE PRODUCTION MATURE SUPPLY CHAIN SUBSIDIARIES STRATEGIC STRATEGIC RF BANDS S -Band X-Band Ka -Band UHF Autonomous multi - Global Connectivity orbit network Anywhere orchestration Assured, Multi - Domain Proven Global Headquarters Communications for Headquarters netw
Slide 8: Proven Execution
1,000+ Satellite Capacity Manufacturing SVs in Various Stages 130+ of Production 339 Employees with Security Clearance Sensitive Compartmented 3 Information (SCI) Facilities PROVEN 45+ Ground Antennas Global Connectivity for EXECUTION
Slide 9: 2026 Highlights
2026 HIGHLIGHTS COMMERCIAL 2x SELECTIVE CLASSIFIED CONSTELLATION IDIQ WINS CONTRACT WIN WIN EACH an on - ramp Using Largest M - Multiple Follow - Ons opportunity to Multi - CLASS Platform Anticipated Billion Operational Constellation Systems 55 SATELLITES PUT INTO ORBIT, 8 LAUNCHES, OPERATING 3 CONS
Slide 10: Unmanned Systems
Air superiority will not exist in future battles. Current architectures not well - suited for future wars Space is the natural next layer to assure communication & navigation in an air superiority denied environment Fleets of unmanned systems will require assured communication & navigation in a jamm
Slide 11: Unmanned Systems
X York CEO DIRK WALLINGER said future unmanned operations will require an integrated system for communications, coordination and execution built on space - based infrastructure to operate in GPS - denied and contested environments. Their combined capabilities are designed to support communications,
Slide 12: York's Full System Connectivity
YORK’S FULL SYSTEM CONNECTIVITY DRIVES YORK’S ADJACENT MARKET GROWTH York Built Satellite Systems York/Atlas Owned & Operated Ground Stations Multi - Beam All.Space Mobile Terminals Ka - Band Link York’s Global Ecosystem Is poised to drive rapid growth across adjacent markets like mobile York Missio
Slide 13: Proven Missions
PROVEN MISSIONS YORK’S MISSION EXPERIENCE ALIGNS WITH PROPOSED FUTURE DEFENSE BUDGETS
Slide 14: Mission Contracts & Capabilities
# OF CONTRACTS MISSION TYPE CONTRACTS BY TYPE Network communications x 3 Space domain awareness Fire Control 23% Custody type capabilities Network comm Classified Mission & Services x 2 Commercial, non - comm Commercial, non - comm 77% Services Non - Net - comm Classified, IDIQ TACSATCOM Classified,
Slide 15: Mission Capabilities Under Contract
MISSION CAPABILITIES UNDER CONTRACT MISSION / CONTRACT MISSION CAPABILITIES NUMBER OF SVs STATUS Synthetic Aperture Radar (SAR) & Signals Intelligence (SIGNINT), AMTI/GMTI Harbinger 1 Flown Type Capability Proliferated LEO Capability , Tracking and Data Relay Satellites (TDRS) Bard 1 In - Orbit Capa
Slide 16: Harbinger
Synthetic Aperture Radar (SAR) & AMTI/GMTI Type Capability Signals Intelligence (SIGNINT) HARBINGER
Slide 17: Bard
NASA and Johns Hopkins APL Demonstrate First - of - Its - Kind Space Communications. www.jhuapl.edu/news/news-releases/251219-pext-successful-test-demonstration www.jhuapl.edu /news/news - releases/251219 - pext - successful - test - demonstration Proliferated LEO Capability Tracking and Data Relay
Slide 18: Checkmate
Data Transport Mission with Space Data Network (SDN) Capability Multi - Band (S & K - Band) and Link - 16 Capability Optical Communication K - Band Capability Terminals (OCTs) Proliferated LEO Capability CHECKMATE , x9 SVs
Slide 19: Nemesis
Remote Proximity Operations (RPO) Space Domain Awareness (SSA) Capability Counter Space Capability Two GEO Spacecraft to Approach, and Inspect Cooperative Geosynchronous Reconnaissance & Surveillance Capability and Non - Cooperative Spacecraft NEMESIS , x2 SVs
Slide 20: Bane
Signals Intelligence & Optical Alternate Position Navigation & Timing (APNT) Capability Communications Terminal (OCT) Demo Space Laser Exchange Capability BANE
Slide 21: Praetorian
ENTIRE FALCON 9 SECOND ENTIRE FALCON 9 Data Transport Mission with Multi - Band Space Data Network (SDN) Capability 42 Spacecraft Launched Before (S & K -Band) and Optical Communication Link -16 Capability ANY OTHER Prime Contractor Terminals (OCTs) K - Band Capability Proven Ability to Deliver at S
Slide 22: Dragoon and Tyndal
Representative SV TACTICAL SATELLITE COMMUNICATIONS CLASSIFIED CUSTOMER A (TACSAT COM) Persistent tracking of time - sensitive targets Assured Tactical Comm Capability Custody Layer Type Capability DRAGOON TYNDAL
Slide 23: Visus
COMMERCIAL CUSTOMER C Commercial Constellation First Phase of Multi -Stage Acquisition (300+) Earth Observation Established Market Demand 20+ M - CLASS Constellation Complete Ecosystem Mission Services VISUS , x20+ SVs
Slide 24: Crazy-Horse+
On - Ramp IDIQ 1 On - Ramp IDIQ 2 M- CLASS Classified Mission IDIQ Task Order Contract 1 IDIQ Task Order Contract 2 CLASSIFIED CUSTOMER B CLASSIFIED CUSTOMER C CLASSIFIED CUSTOMER D CLASSIFIED CUSTOMER B+ CRAZY - HORSE+ FOUR NEW CLASSIFIED CUSTOMER CONTRACTS ADDED SINCE Q1 ALONE
Slide 25: Win Statistics: Contracts, Budgets & Backlog
WIN STATISTICS CONTRACTS, BUDGETS & BACKLOG
Slide 26: Extensive Identified Pipeline
# Opportunities APPROXIMATELY $11.5B PIPELINE 45 Actively competing for ~$11.5B of business across three segments and seven customers. 40 EXISTING CUSTOMER BASE Classified Army SMDC (Space and Missile Defense Command); 35 Air Force Research Laboratory (AFRL); SDA (Space Development Agency); 30 SSC (
Slide 27: ~$11.5B Contract Awards
PIPELINE BY CUSTOMER ESTIMATED ANTICIPATED AWARD TIMELINES Pipeline by Customer ck assified 2027 Key Contract Win Timeframe Classified mmercia Commercial RPA MDA A NASA SA USG - SSC G-SSC ~$11.5B 6/27/2026 10/5/2026 1/13/2027 4/23/2027 8/1/2027 11/9/2027 2/17/2027 5/27/2028 9/4/2028 12/13/2028 Ident
Slide 28: FY2027 President's Budget Request (PBR)
MISSILE WARNING GROUND MOVING TARGET PROLIFERATED LEO AND TRACKING INDICTOR (GMTI) Distributed satellite Developing missile Tracking moving SPECIAL SPACE network for resilience detection systems: targets on earth ACTIVITIES (RTD&E) $6.4B $1.6B $4.2B $1.5B $1.4B $3.56B $7.06B $2B $1.5B $1.02B LAUNCH
Slide 29: Awarded Contracts
Total $B $B IDIQ $1.85 B* $8.431 B* YORK POTENTIAL ON Full Potential AWARDED CONTRACTS Not to Scale $190 MM Backlog $592 MM Remaining Vendor Avg $1.07 B* Not to Scale Backlog Fully executed contract cumulative dollars AWARDED Unexercised & Additional Phases Total contract potential for execution of
Slide 30: Financials
FINANCIALS
Slide 31: Second Quarter Results
SECOND QUARTER RESULTS Revenue ($M) Contribution Margin 2 (%) Adj. EBITDA 1 ($M) 100 45% 0 Q2 2025 Q2 2026 90 40% -1 80 -2 35% 70 -3 30% 60 -4 25% 50 -5 20% 40 -6 15% 30 -7 10% 20 -8 10 5% -9 0 0% Q2 2025 Q2 2026 Q2 2025 Q2 2026 -10 ~$592M 3 1 Adjusted EBITDA is a non - GAAP measure, see Appendix fo
Slide 32: Reconciliation: Adjusted EBITDA
RECONCILIATION ADJUSTED EBITDA Adjusted EBITDA For the three months ended June 30, ($ in millions) 2026 2025 Net Loss $(39,343) $(24,234) (+) Interest expense 2,884 7,118 (+) Interest income (4,208) (218) (+) Income tax (benefit) expense 282 (2,697) (+) Depreciation and amortization 14,886 12,225 EB
Slide 33: Reconciliation: Contribution Margin
RECONCILIATION CONTRIBUTION MARGIN Non - GAAP Contribution Margin For the three months ended June 30 ($ in millions) 2026 2025 Revenue $92,547 $83,839 Direct material costs 53,240 63,555 Contribution Margin (non - GAAP) $39,307 $20,284 Contribution margin % (non - GAAP) 42% 24% Note: Amounts may not
Slide 34: Investor Events
Jefferies 7th Annual Goldman Sachs Global Needham Industrials and Industrials Virtual Tech Materials Conference Week Conference September 9 November 20 December 1 INVESTOR Dirk Wallinger 2026 Speaking Engagements EVENTS