Voyager Technologies (VOYG) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Voyager Technologies published the results on November 2, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Voyager Technologies reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP adjusted, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Voyager acquired Astrobotic Technology on July 10, 2026, so Q3 2026 includes Astrobotic and the year-ago quarter does not. The acquisition added $347 million to backlog.
• Starlab, Voyager's commercial space station program, generates no revenue. NASA funding for it arrives as grants, which Voyager does not count as revenue.

Source: Voyager Technologies Q3 2026 results, November 2, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Voyager Technologies splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Voyager Technologies's Defense and Space Technologies revenue was $88.8 million in Q3 2026, up 122% from $40.1 million in Q3 2025, 100% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The revised 2026 revenue range is $285 million to $305 million, which Voyager says is growth of about 72% to 84%. Voyager gives no earnings guidance.

In its Q3 2026 release, Voyager Technologies said:

“Voyager is raising the lower end of its full-year 2026 revenue guidance by $10 million to a revised range of $285 million”

Source: Voyager Technologies Q3 2026 release, Nov 2, 2026.

This is the company's own guidance as of Nov 2, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the VOYG forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and GAAP diluted net loss per common share, each as first reported in that quarter's release.

We do not hold a confirmed date for Voyager Technologies's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 2, 2026

Voyager Technologies reports two segments, and all of its net sales come from one of them: Defense and Space Technologies, which had $88.8 million of net sales in Q3 2026, up 121.5%. Starlab Space Stations, its commercial space station joint venture, had none. Total net sales were $88.7 million, up 124.1% from $39.6 million and 68% from the second quarter. (Voyager Technologies Q3 2026 release, Nov 2, 2026)

Voyager sells mostly to the U.S. government, which accounted for $78.6 million of Q3 2026 net sales, against $36.0 million a year earlier. Commercial and international customers were $10.1 million. The 10-Q attributes the increase to $42.6 million more U.S. government net sales and $6.2 million more commercial net sales. Firm fixed price contracts brought in $70.4 million, up from $18.1 million, and cost-plus and time and materials contracts $18.3 million. (Voyager Technologies Form 10-Q, Q3 2026, Nov 3, 2026)

Acquisitions are part of the growth. Voyager bought Astrobotic Technology on July 10, 2026 for $275.4 million in consideration, including $96.1 million in cash, after buying ExoTerra Resource in October 2025 and Estes Energetics in November 2025. The 10-Q says Voyager has executed and integrated thirteen acquisitions since 2019. (Voyager Technologies Form 10-Q, Q3 2026, Nov 3, 2026)

Backlog reached $742 million at September 30, 2026, against $336 million at June 30, 2026, including $347 million added with Astrobotic. Bookings were $116 million in the quarter, a 1.3x book-to-bill ratio. The 10-Q says 92.2% of funded backlog relates to the U.S. government, which Voyager treats as one customer. (Voyager Technologies Q3 2026 release, Nov 2, 2026; Voyager Technologies Form 10-Q, Q3 2026, Nov 3, 2026)

Voyager Technologies' net loss per share widened to $(0.91) in Q3 2026 from $(0.28), and the net loss attributable to Voyager to $55.7 million from $16.3 million. Gross margin fell to 11.5% from 15.4%, which Voyager attributed to investment in manufacturing capacity and strategic programs. SG&A rose to $47.8 million from $25.1 million, R&D to $16.3 million from $3.0 million, and amortization of acquired intangibles to $7.9 million from $2.0 million. (Voyager Technologies Q3 2026 release, Nov 2, 2026)

The non-GAAP adjusted loss was $(0.87) per share, against $(0.25). Voyager's adjustment adds back stock-based compensation ($5.0 million), business acquisition costs ($1.5 million) and restructuring, and removes a deferred income tax benefit. Adjusted EBITDA was a loss of $44.9 million, against a loss of $17.7 million. (Voyager Technologies Q3 2026 release, Nov 2, 2026)

Innovation spend, including customer-funded development, was 49.3% of net sales in Q3 2026, or 36.9% excluding Starlab. Weighted average shares were 61,011,922, against 58,406,626 a year earlier. (Voyager Technologies Q3 2026 release, Nov 2, 2026; Voyager Technologies Form 10-Q, Q3 2026, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Voyager Technologies gives a full-year revenue range. With Q3 2026 results it raised the lower end of 2026 revenue guidance by $10 million to $285 million to $305 million, which it says represents growth of about 72% to 84%. It gives no earnings guidance. (Voyager Technologies Q3 2026 release, Nov 2, 2026)

For Starlab, NASA released its Commercial LEO Destination Phase 2 request for proposals in early October 2026, with submissions due in December 2026 and an award expected in spring 2027. Starlab has about $700 million in signed commercial reservations, up from about $500 million a quarter earlier, and $212.5 million in cumulative milestone cash receipts. (Voyager Technologies Q3 2026 release, Nov 2, 2026)

A consensus figure is the average of the models published by the analysts who cover Voyager Technologies, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Voyager Technologies's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning VOYG is on is VOYG a buy or a sell?, what analysts expect next is on the VOYG forecast, and what the company does is on the Voyager Technologies (VOYG) stock page.

Every number on this page can be traced to a document Voyager Technologies published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.