York Space Systems (NYSE:YSS) reported first-quarter 2026 revenue of $116.3 million, a 9% increase from the previous year, driven mainly by growth in government programs. The company’s backlog rose 18% to $642.3 million, bolstered by a $187 million contract for a 20-satellite constellation. Despite these advancements, gross margins fell to 19%, down 4 percentage points due to non-recurring costs linked to the company’s recent IPO.
The firm reaffirmed its 2026 revenue guidance of $545 million to $595 million, representing a midpoint growth of 48% year-over-year. Approximately 70% of this guidance is supported by existing backlog, although some revenue is expected to shift into the latter half of the year due to supply chain delays.
York has recently completed the acquisition of Orbion Space Technology, enhancing its supply chain and propulsion capabilities, and is pursuing further expansion through the planned acquisition of ALL.SPACE. These initiatives aim to strengthen its position in both national security and commercial markets, emphasizing the company’s potential for future growth.
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