{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-059066","form_type":"8-K","ticker":null,"cik":"0001835512","company_name":"Terran Orbital Corp","filed_at":"2024-05-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:20.589618+00:00","generated_at":"2026-06-02T01:11:51.750495+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Terran Orbital Q1 revenue $27.2M, net loss $53.2M; backlog tops $2.8B","bullets":["Q1 revenue $27.2M (down 3% YoY), hit by $13.1M negative EAC adjustments; gross loss $6.2M; net loss $53.2M; adj. EBITDA -$28.2M.","Backlog $2.7B at 3/31/24 (incl. $2.4B Rivada); updated >$2.8B at May 14, with $400M non-Rivada programs.","Awarded 18 space vehicles from Lockheed Martin for SDA Tranche 2 Tracking Layer; total 106 vehicles for SDA.","Strategic review ongoing; Lockheed's $1/share proposal discussed at April 16 meeting; Q2 awards exceed $100M to-date.","Cash $43.7M, gross debt $316.7M (incl. $15M PIPE obligation payable in cash/equity)."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-059066","json":"https://secwatch.observer/filing/0000950170-24-059066.json","markdown":"https://secwatch.observer/filing/0000950170-24-059066.md","text":"https://secwatch.observer/filing/0000950170-24-059066.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1835512/000095017024059066/0000950170-24-059066-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1835512/000095017024059066/llap-20240514.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-02T01:11:51.750495+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"acff62556d98c79e7e01dde48ecf3492a16cca93","claim":"Terran Orbital Corp reported the three months ended March 31, 2024 results: revenue $27.2 million, net income $53.2 million.","evidence_excerpt":"is still ongoing. This process includes a range of options, including staying independent.” Results for the First Quarter of 2024 Revenue for the first quarter of 2024 was $27.2 million, down 3% compared to $28.2 million for the same quarter in 2023. The decrease in revenue was driven by unfavorable Estimate-at-Completion (EAC) adjustments, primarily on a single","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1835512/000095017024059066/0000950170-24-059066-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended March 31, 2024"},{"label":"Revenue","value":"$27.2 million"},{"label":"Net income","value":"$53.2 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}