Episode 14
Episode 14: The York Rabbit Hole Begins
In the last episode, Franz Amussen explained how a morning walk through Salt Lake City unexpectedly led him to the Small Satellite Conference—and ultimately to York Space Systems. Now the rabbit hole begins. After discovering that Orbion had been acquired by York, Franz starts digging into York itself. The company had gone public only months earlier at $34 a share, yet its stock had fallen dramatically. At the same time, York was pursuing an ambitious strategy: assembling an integrated space and defense company through acquisitions. York had acquired Orbion for propulsion, ATLAS Space Operations for ground infrastructure and mission operations, Solestial for space solar technology, and ALL.SPACE for advanced satellite communications. Is York assembling a collection of best-in-class technologies—or simply buying companies and locking itself into them? Franz examines York's business model, its government dependence, its falling revenue guidance, its backlog and contract pipeline, and the question at the center of the investigation: What exactly is York trying to build? That question leads to an even more important one: Who is betting on York—and what are their incentives? Next time: Follow the Money. This podcast is for informational and educational purposes only and is not investment advice or a recommendation to buy or sell any security.
Episode Summary
In the last episode, Franz Amussen explained how a morning walk through Salt Lake City unexpectedly led him to the Small Satellite Conference—and ultimately to York Space Systems. Now the rabbit hole begins. After discovering that Orbion had been acquired by York, Franz starts digging into York itself. The company had gone public only months earlier at $34 a share, yet its stock had fallen dramatically. At the same time, York was pursuing an ambitious strategy: assembling an integrated space and defense company through acquisitions. York had acquired Orbion for propulsion, ATLAS Space Operations for ground infrastructure and mission operations, Solestial for space solar technology, and ALL.SPACE for advanced satellite communications. Is York assembling a collection of best-in-class technologies—or simply buying companies and locking itself into them? Franz examines York's business model, its government dependence, its falling revenue guidance, its backlog and contract pipeline, and the question at the center of the investigation: What exactly is York trying to build? That question leads to an even more important one: Who is betting on York—and what are their incentives? Next time: Follow the Money. This podcast is for informational and educational purposes only and is not investment advice or a recommendation to buy or sell any security.
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