Compare Companies
| Field | 🇺🇸 Apex Space | 🇺🇸 K2 Space | 🇺🇸 Terran Orbital | 🇺🇸 True Anomaly |
|---|---|---|---|---|
| Type | private | private | private | private |
| Country | 🇺🇸 United States | 🇺🇸 United States | 🇺🇸 United States | 🇺🇸 United States |
| Founded | 2022 | 2022 | 2013 | 2022 |
| CEO | Ian Cinnamon | Karan Kunjur | Peter Krauss | Even Rogers |
| Mkt Cap / Valuation | $2.3 billion | $3 billion | — | — |
| Employees | 350+ | — | — | 250 at end-2025, targeting 500+ by end-2026 and 1,000+ by 2028 |
| Sector | Satellite manufacturing — productized satellite buses | Satellite manufacturing — large, high-power satellite buses | Satellite manufacturing — smallsat buses | Space domain awareness / space defence |
| Last raise / Last filing | $200M+ (2026-06-05) | $250M (2025-12) | — | $650M equity + $50M debt from Stifel Bank (2026-04-28) |
| Top risks | Only one satellite (Aries SN1, 2024) has meaningful flight heritage; Nova and Comet are unflown while valuation rose from roughly $1B to $2.3B in nine months.; Project Shadow is a self-funded demonstration with no government contract behind it — a failure, especially of an interceptor firing, would be a costly and highly public setback with no cost recovery. | Single-article flight heritage — one Mega Class spacecraft on orbit, mid-demonstration, against a $3B valuation and $500M backlog that assumes the platform works.; The Giga Class roadmap and '10 satellites per launch' economics assume Starship and New Glenn reach routine, cheap, high-cadence service — a dependency K2 does not control. | Merchant-supplier independence is a promise, not a structure — competitors of Lockheed Martin must now buy critical buses from a Lockheed subsidiary, and some will design Terran Orbital out regardless of the stated commitment.; Zero SEC reporting since November 2024 means no revenue, backlog or margin data exists for this entity — any financial claim about it independent of Lockheed Martin is unpublishable. | Effectively a single-customer company — every listed contract is US Space Force or SDA, with no meaningful commercial revenue to offset a budget shift.; Capital intensity with undisclosed valuation — $650M raised in one round plus $50M debt and headcount quadrupling to 1,000 by 2028, with no disclosed valuation or revenue. |
| Next catalyst | Nova 1 / Project Shadow launch (2026 (targeted summer)) | GRAVITAS orbit-raise and 20 kW thruster demonstration results (2026) | SDA Tranche 3 Tracking Layer bus deliveries via Lockheed Martin (2026-2028) | Kronos delivery (2026-2027) |
Maximum 4 companies. Pass slugs in the ids query parameter, comma-separated. Try SpaceX vs Blue Origin vs Rocket Lab vs Firefly.