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This Month's Exclusive Story
3 Satellite Stocks To Check Out Before SpaceX's IPOSubmitted by Nathan Reiff. First Published: 3/31/2026. 
Key Points
- With a rumored $1.75 trillion valuation, the anticipated SpaceX IPO could be transformative for the entire space and satellite industry.
- Satellite companies like BlackSky and Viasat, which provide geospatial intelligence and broadband or wireless services, respectively, have seen backlogs soar.
- Redwire may present a value prospect for investors banking on an increase in satellite infrastructure demand.
- Special Report: Elon’s “Hidden” Company
Elon Musk's SpaceX IPO, anticipated later this year, could be the largest ever if the rumored $1.75 trillion valuation holds—and investors may want to consider how other space stocks could be swept up in the momentum. Several companies in the growing satellite industry may be positioned for movement as the SpaceX event approaches; more importantly, some have independent, compelling investment cases. Three notable names that are not SpaceX include BlackSky Technology Inc. (NYSE: BKSY), Viasat Inc. (NASDAQ: VSAT), and Redwire Corp. (NYSE: RDW). Not only could these companies attract extra investor attention in the lead-up to the SpaceX IPO, but some may also play meaningful roles amid regional tensions involving Iran or other near-term geopolitical events. BlackSky's Technological Advantage Needs Continued Support From Growing Fundamentals
There's a company sitting on a deposit independently valued at $2.8 billion - currently trading at a market cap of roughly $700 million. That's a 4-to-1 disconnect.
The Pentagon has already invested. Lockheed's Skunk Works signed a research partnership, and the EXIM Bank is processing up to $800 million in financing. A federal deadline of July 13, 2026 is forcing the issue.
The stock is still trading under $6. Check the valuation math and get the ticker now
BlackSky operates a constellation of satellites used for geospatial intelligence and related services. It's a pre-profit company with some inconsistency in revenue growth: in the last quarter, revenue of $35.2 million missed analyst estimates by nearly $2 million. Still, the company closed 2025 with a $345 million backlog and $240 million in contract bookings, signaling strong customer demand. Its key advantage is near-real-time satellite imagery, which many competitors cannot yet match. Applications range from defense to weather services, disaster response, and more. Investors should watch whether BlackSky can convert its backlog and growing customer interest into realized sales in 2026. That will likely depend on its ability to continue deploying and scaling its Gen-3 satellite systems. Expanding margins, strengthening the cash position, and managing capital expenditures will also be important. With a price-to-sales (P/S) ratio of 8.11, BlackSky has limited room for error, but analysts remain optimistic, assigning a Moderate Buy rating and roughly 25% upside. Return to Profitability as Viasat Prepares for Major New Satellite LaunchesBroadband and wireless communications provider Viasat has seen shares climb about 25% year-to-date after signs of improving fundamentals in its earnings report for Q3 fiscal 2026 (period ended Dec. 31, 2025). After a $158 million loss in the prior-year quarter, Viasat swung back to profit with net income of $25 million and reported positive free cash flow. Backlog rose 12% year-over-year to nearly $4 billion. Like BlackSky, Viasat is banking on successful execution of a new generation of satellites—the ultra-high-capacity ViaSat-3—to further strengthen its fundamentals through the rest of the year and beyond. Growing government demand, reflected in multi-year contracts, should provide stable, recurring revenue. ViaSat-3 launches are expected to broaden the company's appeal to government clients as well as customers in aviation and maritime markets. There may be somewhat less near-term upside compared with BKSY, but VSAT still enjoys analyst support with a Moderate Buy rating. Potential Value Deal on a Satellite Infrastructure FirmRedwire is a different type of satellite company—a space-infrastructure firm that designs, services, and builds spaceflight and satellite hardware and software. Shares have been roughly flat YTD amid low gross margins and wider-than-expected net losses in the latest quarter. However, Redwire's backlog reached a record of more than $411 million, with bookings accelerating toward the end of 2025. Management projects 2026 revenue of $450 million to $500 million, implying roughly 42% year-over-year growth at the midpoint. With a P/S ratio of 4.52, Redwire appears attractively valued relative to its near-term prospects. Defense and space contracts should continue to drive growth for the remainder of the year, but the bigger question is whether the company can improve profitability and boost margins. Analysts are generally bullish on RDW shares, rating them a Moderate Buy. The consensus Wall Street price target is about $14, implying roughly 80% upside potential. Investors expecting increased interest in Redwire as the SpaceX IPO approaches may find the stock attractively valued after its recent dip. |
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