Voyager Technologies Inc (VOYG) financial statements: income statement, balance sheet and cash flow
Voyager Technologies Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Voyager Technologies Inc reported revenue of $166.4M and net income of ($116.1M).
Income statement
Voyager Technologies Inc income statement, fiscal years
Line item
Dec 31, 2025 · FY
Net sales
$166.4M
Cost of sales
$136.5M
Selling, general, and administrative
$117.1M
Research and development
$12.8M
Impairment losses
$0
Amortization of acquired intangibles
$8.5M
Loss from operations
($108.5M)
Change in fair value of embedded derivatives
$0
Loss on debt extinguishment
($7.8M)
Finance and interest expense, net
($6.8M)
Other income, net
$10.4M
Loss before income taxes
($112.8M)
Income tax (benefit) expense
($440.0K)
Net loss
($112.3M)
Net loss attributable to noncontrolling interests
($7.5M)
Net loss attributable to Voyager Technologies, Inc.
($104.8M)
Less: dividends accrued on preferred stock
$11.3M
Net loss available to common shareholders
($116.1M)
Basic (in dollars per share)
-$2.89
Diluted (in dollars per share)
-$2.89
Basic (in shares)
40.2M
Diluted (in shares)
40.2M
Voyager Technologies Inc income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net sales
$52.7M
$35.2M
$39.6M
$45.7M
Cost of sales
$48.3M
$36.8M
$33.5M
$37.5M
Gross profit
$4.5M
($1.5M)
—
—
Selling, general, and administrative
$43.7M
$31.4M
$25.1M
$30.2M
Research and development
$7.3M
$7.5M
$3.0M
$502.0K
Amortization of acquired intangibles
$4.9M
$4.2M
$2.0M
$1.6M
Loss from operations
($51.4M)
($44.6M)
($24.0M)
($24.1M)
Loss on debt extinguishment
$0
—
$0
($7.8M)
Finance and interest expense, net
($1.9M)
($2.1M)
($200.0K)
($2.5M)
Other income, net
$2.4M
$4.0M
$4.1M
$1.5M
Loss before income taxes
($50.9M)
($42.7M)
($20.1M)
($33.0M)
Income tax (benefit) expense
($2.2M)
$3.2M
($1.8M)
$81.0K
Net loss
($48.7M)
($45.9M)
($18.3M)
($33.1M)
Net loss attributable to noncontrolling interests
($2.3M)
($2.0M)
($2.1M)
($1.7M)
Net loss attributable to Voyager Technologies, Inc.
($46.5M)
($44.0M)
($16.3M)
($31.4M)
Less: dividends accrued on preferred stock
$0
$0
$0
$5.3M
Net loss available to common shareholders
($46.5M)
($44.0M)
($16.3M)
($36.6M)
Basic (in dollars per share)
-$0.79
-$0.75
-$0.28
-$1.23
Diluted (in dollars per share)
-$0.79
-$0.75
-$0.28
-$1.23
Basic (in shares)
58.5M
58.3M
58.4M
29.7M
Diluted (in shares)
58.5M
58.3M
58.4M
29.7M
Balance sheet
Voyager Technologies Inc balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Cash and cash equivalents
$491.3M
Accounts receivable, net
$29.8M
Contract assets
$29.8M
Inventories
$3.8M
Prepaid expenses and other current assets
$26.5M
TOTAL CURRENT ASSETS
$581.3M
Property and equipment, net
$164.3M
Operating lease right-of-use assets
$18.2M
Intangible assets, net
$99.0M
Goodwill
$157.7M
Other assets
$30.0M
TOTAL ASSETS
$1.1B
Accounts payable
$27.4M
Contract liabilities
$24.3M
Operating lease liabilities
$5.8M
SMI promissory note, current
$0
Accrued expenses and other current liabilities
$75.5M
TOTAL CURRENT LIABILITIES
$133.0M
Term Loan, net
$0
Operating lease liabilities, non-current
$13.3M
Contract liabilities, non-current
$7.9M
Convertible notes, net
$447.6M
Embedded derivatives
$0
Deferred tax liabilities
$8.9M
SMI promissory note
$0
Other long-term liabilities
$10.2M
TOTAL LIABILITIES
$620.9M
Class A-1 redeemable preferred stock: $0.0001 par value; 0 shares authorized, issued and outstanding at December 31, 2025; 7,500,000 shares authorized and 6,967,720 shares issued and outstanding at December 31, 2024; redeemable at the option of the holder with a liquidation preference of $105,581
0
Redeemable noncontrolling interests
$0
Preferred stock
$0
Common stock
$6.0K
Additional paid-in capital
$797.4M
Treasury stock, at cost
($27.7M)
Accumulated other comprehensive (loss) income
($95.0K)
Accumulated deficit
($385.9M)
Total Voyager Technologies, Inc. equity (deficit)
$383.7M
Noncontrolling interests
$45.8M
TOTAL EQUITY (DEFICIT)
$429.5M
TOTAL LIABILITIES, MEZZANINE EQUITY, AND EQUITY (DEFICIT)
$1.1B
Voyager Technologies Inc balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$373.4M
$429.4M
$413.3M
$468.9M
Accounts receivable, net
$40.4M
$12.2M
$16.5M
$12.7M
Contract assets
$37.5M
$35.8M
$23.4M
$21.6M
Inventories
$9.6M
$5.7M
$1.7M
$1.4M
Prepaid expenses and other current assets
$24.8M
$25.7M
$26.5M
$6.8M
TOTAL CURRENT ASSETS
$485.7M
$508.7M
$481.5M
$511.4M
Property and equipment, net
$213.6M
$191.4M
$107.5M
$67.6M
Operating lease right-of-use assets
$38.9M
$41.9M
$9.3M
$8.6M
Intangible assets, net
$89.9M
$94.7M
$44.9M
$37.0M
Goodwill
$157.7M
$157.7M
$72.1M
$50.5M
Other assets
$23.5M
$29.3M
$12.6M
$10.2M
TOTAL ASSETS
$1.0B
$1.0B
$727.8M
$685.3M
Accounts payable
$37.6M
$19.9M
$23.0M
$20.7M
Contract liabilities
$22.5M
$16.9M
$8.1M
$10.2M
Operating lease liabilities
$7.6M
$6.8M
$4.4M
$3.4M
Accrued expenses and other current liabilities
$60.1M
$67.7M
$62.3M
$57.0M
TOTAL CURRENT LIABILITIES
$127.8M
$111.3M
$97.9M
$91.3M
Operating lease liabilities, non-current
$34.6M
$36.3M
$6.1M
$6.1M
Contract liabilities, non-current
$7.9M
$7.9M
$2.9M
$2.9M
Convertible notes, net
$448.9M
$448.3M
$0
$0
Deferred tax liabilities
$9.8M
$12.0M
$354.0K
$203.0K
Other long-term liabilities
$3.6M
$3.5M
$2.0M
$2.0M
TOTAL LIABILITIES
$632.7M
$619.2M
$109.3M
$102.5M
Common stock
$6.0K
$6.0K
$6.0K
$6.0K
Additional paid-in capital
$840.7M
$823.1M
$946.6M
$894.2M
Treasury stock, at cost
($38.5M)
($35.9M)
—
—
Accumulated other comprehensive loss
($62.0K)
($64.0K)
($83.0K)
($83.0K)
Accumulated deficit
($476.4M)
($429.9M)
($355.7M)
($339.4M)
Total Voyager Technologies, Inc. equity
$325.7M
$357.2M
$590.9M
$554.7M
Noncontrolling interests
$50.9M
$47.2M
$27.6M
$8.3M
TOTAL EQUITY
$376.6M
$404.5M
$618.5M
$563.0M
TOTAL LIABILITIES AND EQUITY
$1.0B
$1.0B
$727.8M
$685.3M
Cash flow statement
Voyager Technologies Inc cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Net loss
($112.3M)
Depreciation and amortization
$13.4M
Impairment losses
$0
Stock-based compensation
$18.9M
Amortization of operating lease right-of-use assets
$3.0M
Loss on debt extinguishment
$7.8M
Amortization of debt issuance costs and other non-cash interest expense
$3.0M
Reduction in fair value of earnout
$0
Deferred taxes
($478.0K)
Non-cash services acquired
$13.8M
Other
$667.0K
Accounts receivable
($5.2M)
Prepaid expenses and other current assets
($4.9M)
Contract assets
($556.0K)
Inventories
($341.0K)
Other assets
($4.2M)
Accounts payable
$4.1M
Contract liabilities
($6.7M)
Accrued expenses
$12.1M
Operating lease liabilities
($2.8M)
Other liabilities
($212.0K)
Net cash used in operating activities
($60.9M)
Purchases of property and equipment
($144.7M)
Grant funding for property and equipment
$50.4M
Acquisitions, net of cash acquired
($151.8M)
Purchase of investments
($15.5M)
Net cash (used in) provided by investing activities
($261.6M)
Proceeds from Term Loan, net
$0
Repayment of Term Loan
($64.4M)
Borrowings from the credit facility
$64.5M
Repayments on the credit facility
($64.5M)
Proceeds from the issuance of Common stock, net
$45.9M
Proceeds from the issuance of Class B convertible preferred stock, net
$0
Proceeds from the issuance of Class C preferred stock, net
$116.0M
Proceeds from the issuance of Class A common stock upon IPO, net of underwriting costs
$409.4M
Costs associated with initial public offering
($8.6M)
Sale of noncontrolling interest
$81.7M
Redemptions of redeemable noncontrolling interests
$0
Repayment of line of credit
$0
Purchase of noncontrolling interest
($10.7M)
Redemptions of Class A-1 redeemable preferred stock
($3.0M)
Cash repayment of Preferred B dividends
($27.6M)
Costs associated with the credit facility
($3.3M)
Proceeds from convertible notes
$460.0M
Payments for debt issuance costs related to convertible notes