York Space Systems, Inc.
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Range $13.5 – $45
Price Chart
About the company
York Space Systems, Inc. operates as a space and defense prime providing a comprehensive suite of mission-critical solutions for national security, government and commercial customers in the United States. It provides space and defense primes with proprietary hardware and software capabilities designed to address customers’ requirements across the elements of the space ecosystem throughout the mission lifecycle.
- CEO
- Dirk Wallinger
- IPO
- 2026
- Employees
- 710
- HQ
- Greenwood Village, CO, US
AI snapshot
Six angles, distilled from the data.
The stock remains in a deep recovery phase after a major reset from its 52-week high of 44.54, with the current regime still below the 200-day average of 25.83. The tape has improved from the 10.01 low, but the setup is still a rebound attempt rather than a confirmed long-term uptrend.
Street sentiment is constructive but not uniform: consensus is Buy, with a target range of 30 to 45 and a 36.38 average target above the current share price. Recent action has been mixed, including Raymond James cutting to Market Perform while Jefferies reinstated a Buy and Goldman raised its target to 31.
The earnings backdrop is still challenged, with 0 for 3 beats and the last two quarters missing by 518.2% and 41.1%. Analysts still model a turn, with next-year EPS at 0.5317 versus TTM EPS of -2.03, so shareholders should watch whether margin discipline and revenue conversion improve from here.
Recent filings show net selling, led by multiple BlackRock Portfolio Management LLC sales across late July and early August. The only other notable filing was an AEROEQUITY GP, LLC award, which is not a discretionary open-market buy and reads more like compensation-related activity than conviction buying.
Profitability remains weak, but revenue is still growing, with 9.5% year-over-year growth against a gross margin of 18.4% and a net margin of -47.35%. Cash burn is heavy at -112.5 million free cash flow, though cash of 162.6 million exceeds total debt of 175.1 million by a narrow margin.
YSS sits in the aerospace and defense growth lane, where mission-critical space platforms can command premium attention if execution improves. The current target set implies upside from here, but the stock still screens as a turnaround story rather than a proven sector leader on profitability.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $1.21B
- P/E
- -4.65
- Fwd P/E
- 119.25
- PEG
- 0.02
- P/S
- 2.87
- P/B
- 0.68
- EV/EBITDA
- -6.54
- Div Yield
- 0.00%
- Gross Margin
- 21.40%
- Op Margin
- -37.46%
- Net Margin
- -46.23%
- ROE
- -17.36%
- ROIC
- -8.14%
Latest fiscal year · YoY change
- Revenue
- $386.20M+52.3%
- Gross Profit
- $75.46M+132.8%
- Op Income
- $-58,551,000
- Net Income
- $-84,537,000+14.5%
- EPS
- $-0.67+20.2%
- OCF Growth
- -483.8%
- FCF Growth
- -1059.6%
- 52W High
- $44.54
- 52W Low
- $8.89
- 50D MA
- $19.92
- 200D MA
- $25.29
- Beta
- 4.67
- RSI (14)
- 27
- Avg Volume
- 2.14M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
York posted 10% Q2 revenue growth and stronger margins, but cut full-year 2026 guidance sharply as government award timing and supply-chain delays push more revenue into 2027.· August 13, 2026
- Q2 revenue was $92.5 million, up 10% year over year, with gross margin of 24% and gross profit of $22.2 million.
- Backlog was $592 million; potential unawarded contracts were $1.85 billion and the identified pipeline exceeded $11.5 billion.
- Management said the government is shifting to an IDIQ-heavy procurement model, which slows initial awards but could accelerate task orders later.
- Full-year 2026 revenue guidance was reduced to $375 million-$405 million from a $570 million prior midpoint, mainly due to delayed new business and supply-chain pushouts.
- York highlighted 8 contract wins in 2026 at an 88% win rate, plus recent acquisitions that are expected to contribute 10% to 15% of 2026 revenue.
Q2 2026 revenue was $92.5 million, up $8.7 million or 10% year over year. Gross margin was 24%, up 13 percentage points from the year-ago quarter, and gross profit was $22.2 million, up $9.5 million. Contribution margin was 42%, up 18 percentage points, while adjusted EBITDA was a loss of $9.5 million versus a loss of $8.9 million a year ago. As of June 30, cash and cash equivalents were $534 million, with total liquidity of $684 million including a fully available $150 million revolver. Backlog was $592 million, down 8% sequentially and up 9% from the start of the year. Full-year 2026 revenue guidance was cut to $375 million-$405 million, with a midpoint of $390 million, versus a prior midpoint of $570 million. Management said gross margin for the rest of 2026 should stay in the mid-20% range.
Dirk Wallinger framed the quarter as strong operational execution, emphasizing 21 satellites launched, expanded mission capability, and York’s 42-for-42 delivery record on Tranche 1 Transport Layer satellites. He said the company is well positioned for a defense market increasingly centered on resilient communications, alternative PNT, and broader space-based architecture, and pointed to recent IDIQ and task-order wins as validation. His tone was optimistic but cautious on timing, repeatedly stressing that award timing has shifted later into 2027 even as the opportunity set remains large.
Brian Frantz highlighted that the 10% revenue increase was driven mainly by acquisitions completed in the second half of 2025 and first half of 2026, plus a new commercial contract, while major government program revenue was relatively flat. He said gross margin improved to 24% because of higher-margin post-launch operations and support work, and expected margins to remain in the mid-20% range for the rest of the year. He also noted SG&A plus R&D rose 52% year over year due to headcount, public-company costs, and acquisition-related expenses, with more SG&A coming from ALL.SPACE in the second half. On liquidity and capital allocation, he cited $534 million of cash, $684 million of total liquidity, and said $155 million was used after quarter end to close ALL.SPACE.
Analysts focused on how the new IDIQ contracting model changes the shape and timing of York’s contract conversion, and management said the best way to think about it is through the 2027 budget trajectory rather than near-term award size. On the revenue guide cut, management said roughly 30% of the old midpoint had been tied to new business, which was removed, while additional revenue moved into 2027 because of supply-chain issues; Brian said those two factors were about equal in the pushout. Questions also covered the Space Data Network demo award and commercial pipeline, and York said the demo confirms competition in that network while the commercial pipeline includes earth observation, weather, and services the government may increasingly buy commercially. On ALL.SPACE, management said the acquisition expands assured communications and GPS-denied capabilities, especially for unmanned systems, and could have meaningful growth potential over the next 2 to 3 years.
The bull case from this call is that York is winning work in a changing defense procurement environment: 8 wins in 2026, an 88% win rate, new IDIQs, and task orders already starting to convert. Management also pointed to a large addressable opportunity set, with $1.85 billion of potential unawarded contracts and an identified pipeline above $11.5 billion. Operationally, the company is scaling its on-orbit track record, expanding into adjacent communications markets through ALL.SPACE, and maintaining strong liquidity.
The main bear case is that 2026 revenue visibility weakened materially, with guidance cut to $375 million-$405 million from a $570 million prior midpoint because awards are taking longer and some revenue moved into 2027. Management also cited supply-chain issues, though it would not specify vendors or timing, and adjusted EBITDA will be pressured by the lower revenue base plus acquisition-related costs. Backlog also declined sequentially to $592 million, and management declined to give specific 2027 margin or revenue details despite expectations for a stronger follow-on year.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 63.5%
- Shares Outstanding
- 131.40M
- Float Shares
- 83.39M
of shares held by institutions
147 13F filers
Buy/sell ratio 0.13. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Blackrock, Inc. | 19.21M | ▲ 200.25K |
| Ae Industrial Partners, LP | 11.73M | ▲ 430.13K |
| Allianz Asset Management Gmbh | 2.73M | 0 |
| Hood River Capital Management LLC | 1.96M | ▲ 975.43K |
| Tema Etfs LLC | 1.90M | ▲ 1.90M |
| Toroso Investments, LLC | 1.84M | ▲ 1.84M |
| Westwood Holdings Group Inc | 1.74M | ▲ 1.33M |
| Voya Investment Management LLC | 1.62M | ▲ 540.71K |
| Ubs Group AG | 1.51M | ▲ 458.91K |
| State Street Corp | 1.43M | ▲ 1.09M |
| Mirae Asset Global Etfs Holdings Ltd. | 1.37M | ▲ 1.36M |
| Clearbridge Investments, LLC | 1.32M | ▼ 27.06K |
Held by 177 ETFs
Biggest fund positions in YSS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 6, 26 | BlackRock Portfolio Management LLC | sell | 201,504 |
| Aug 7, 26 | BlackRock Portfolio Management LLC | sell | 200,170 |
| Aug 4, 26 | BlackRock Portfolio Management LLC | sell | 78,082 |
| Aug 4, 26 | BlackRock Portfolio Management LLC | sell | 468,476 |
| Aug 5, 26 | BlackRock Portfolio Management LLC | sell | 116,162 |
| Aug 5, 26 | BlackRock Portfolio Management LLC | sell | 11,884 |
| Aug 4, 26 | BlackRock Portfolio Management LLC | sell | 77,743 |
| Aug 4, 26 | BlackRock Portfolio Management LLC | sell | 456,310 |
| Aug 5, 26 | BlackRock Portfolio Management LLC | sell | 116,162 |
| Aug 5, 26 | BlackRock Portfolio Management LLC | sell | 11,784 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our YSS coverage
Recent articles, reports, and earnings notes.

York Space Systems, Inc. (YSS) gains: deep earnings analysis
A deeper look at York Space Systems, Inc. (YSS) after an earnings miss and stock gains, focusing on the conflicting August 2026 financial signals, missing transcript and trading data, and what the incomplete evidence means for the post-earnings setup.

York Space Systems, Inc. (YSS) slumps on earnings misses
York Space Systems, Inc. (YSS) slumps after reporting earnings misses, with shares falling 18.7% as investors react to weaker-than-expected results.
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YSS Investor Notice: Johnson Fistel Investigates York Space Systems Inc.
globenewswire.com · Aug 20
York Space Systems Selected for U.S. Space Force NITE-STAR Contract to Support National Space Test and Training Complex
gurufocus.com · Aug 18
York Space Systems Selected for U.S. Space Force NITE-STAR Contract to Support National Space Test and Training Complex
businesswire.com · Aug 18
Can Space Stocks Bounce Back? This $1 Billion Air Force Contract Might Help.
fool.com · Aug 18
Why York Space Systems Stock Crashed Again Friday
fool.com · Aug 14
York Space Systems Q2 Earnings Call Highlights
marketbeat.com · Aug 14
York Space Systems, Inc. (YSS) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 13
York Space Systems Reports Second Quarter 2026 Results
businesswire.com · Aug 13
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed August 14, 2026 · Live quote · Not investment advice