MAXR - Maxar Technologies Q2 revenue sees a drop amid falling Space Infrastructure product revenue

• Maxar Technologies ( NYSE: MAXR ) reported a drop in its Q2 total revenues to $438M from $473M from prior year quarter led by decrease in product revenues within its Space Infrastructure segment.
• Space Infrastructure revenues narrowed down to $186M during the quarter from $206M in year ago quarter.
• Earth Intelligence continues to drive growth in high margin imagery revenue and Space Infrastructure continues to generate healthy margins.
• Net loss stood at $30M compared to net income of $45M led by increase in interest expense of $52M driven by a $53M loss on debt extinguishment; drop was partially offset by a decrease in product costs of $28M within Space Infrastructure segment.
• The company had total order backlog of $2,945M as of June 30, 2022 compared to $1,893M as of Dec. 31, 2021 led by increase in the Earth Intelligence segment partially offset by a decrease in the Space Infrastructure segment.
• Unfunded contract options totaled $2,204M and $650M as of June 30, 2022 and Dec. 31, 2021, respectively.
• "We are maintaining the 2022 guidance ranges for Revenue and Adjusted EBITDA. Although the interest cost is higher than expected coming into the year, we are pleased to have successfully executed a refinancing of our debt structure and significantly extend maturities," CFO Biggs Porter commented.
• Financial Outlook (2022):

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