Voyager Reports Record Third Quarter 2026 Revenue, Bookings and Backlog
Q3 revenue $89M, up 124% y/y; record $742M backlog; FY26 revenue guidance raised to $285M-$305M.
What this release says
Voyager reported record third-quarter 2026 revenue of $89 million, up 124% year over year, along with record bookings of $116 million and a record backlog of $742 million. The company raised the low end of its full-year 2026 revenue guidance to $285 million to $305 million. For a shareholder, the figures show strong demand, but the company still posted a net loss of $55.7 million, or $0.91 per share, in the quarter.
Key figures
- Q3 2026 revenue
- $89 million
- Record backlog
- $742 million
- Q3 bookings
- $116 million
- Full-year 2026 revenue guidance
- $285 million-$305 million
- Q3 net loss attributable to Voyager
- $(55.7) million
- Total liquidity at quarter-end
- $815.7 million
Positive for shareholders
- Record bookings and backlog give multi-year revenue visibility.
- Revenue grew 124% year over year and 68% sequentially.
- Full-year revenue guidance was raised at the low end.
- Total liquidity stood at $815.7 million at quarter-end.
Negative for shareholders
- The company posted a net loss of $(0.91) per share in the quarter.
- Gross margin fell to 11.5% from 15.4% a year earlier, reflecting investment in manufacturing capacity.
- Adjusted EBITDA loss was $(44.9) million in the quarter.
Written by Quantisnow AI from this release. Not financial advice.
Key terms
- Book-to-Bill ratio:
- A measure of new orders received compared with revenue recognized in the period; 1.3x means orders exceeded revenue.
- Backlog:
- The total value of contracted work not yet recognized as revenue.
- Adjusted EBITDA:
- Earnings before interest, taxes, depreciation and amortization, further adjusted by management to exclude items it considers non-core, such as stock-based compensation.
FAQ
What drove Voyager's record third-quarter results?
The release attributes the results to accelerating demand for its technologies and strong execution, and it notes that $347 million of the backlog came from the Astrobotic acquisition.
Why did Voyager raise its 2026 revenue guidance?
The company said the increase reflects strong third-quarter performance, continued bookings momentum and growing visibility from its record backlog.
Why did Voyager's gross margin decline?
The release says the drop from 15.4% to 11.5% primarily reflects investments in manufacturing capacity and strategic programs to support customer demand.
Historical context for VOYG
Across the 26 sessions after earlier VOYG headlines, the stock closed higher 8 times and lower 18 times, with a median move of 3.9% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | VOYG | SPY |
|---|---|---|---|
| Nov 2, 2026 | Voyager Appoints Gen. B. Chance Saltzman as Board of Advisors Chairman | -7.0% | -0.5% |
| Oct 26, 2026 | Voyager Awarded Interstellar Lab Mission Management Contract | -1.2% | +0.7% |
| Oct 14, 2026 | Voyager To Host 2026 Investor Day December 3 | -2.0% | -1.1% |
| Oct 13, 2026 | Voyager’s Griffin-1 On Track for the Moon | -3.1% | -0.0% |
| Oct 7, 2026 | Voyager Appoints Patrick Yarborough to Lead Investor Relations | -6.9% | -0.2% |
| Oct 6, 2026 | Voyager Awarded Cancer Research Mission Management Contractand 1 other headline that session | +2.3% | +0.5% |
- Market cap
- 30-day
- Sector
- Industrials
- Industry
- Military/Government/Technical
- Listed since
- 2025
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