A handful of space companies are running out of cash and time. Here are three at risk

The space sector’s on the tail end of a boom-and-bust cycle. While many companies battened down the hatches to survive, a few publicly-traded names are running on fumes.

A flurry of about a dozen space companies went public over the last few years. Although each have had fairly dismal stock performances since their debuts, the majority are still moving forward and look to build momentum in the year ahead, with some closing in on coveted profitability milestones.

But a trio of names appear likely to go the way of Virgin Orbit, which flamed out last year. Here’s who’s most at risk of delisting, acquisition or even bankruptcy.

Space tug operator Momentus has already warned shareholders that it’s running out of money, and earlier this month the company abandoned plans for its next mission.

Once valued at over $1 billion, Momentus has gone through a tumultuous couple of years. Despite a 1-for-50 stock split last year, its shares currently trade near 80 cents, putting the company at a depressed $7 million valuation.

The next few weeks will likely prove crucial for Momentus to find a major new backer or buyer, or else face bankruptcy.

Astra has been conducting piece-meal financing rounds from a handful of investors over the past couple months, as the company’s been nearly out of cash since October.

Its rocket-launching business has been on hiatus since June 2022, and its acquired spacecraft business is not driving meaningful revenue growth. And, while the company’s founders floated a take-private plan in November, there’s been no word from Astra’s board of directors on the proposal.

Once valued at over $2.5 billion, Astra’s valuation has been under $50 million for months.

Short of completing that take-private deal, it’s unclear how the company could climb out of…