"Everyone wants SpaceX exposure. Problem is, you can't buy it. While retail investors fantasize about Starlink and Mars colonization, the real money is being made in unglamorous infrastructure powering the orbital economy: satellite internet for container ships, IoT connectivity from orbit, commercial moon deliveries, and small-payload launch services. Five publicly traded companies are capturing this buildout. 5. Globalstar: The Apple Validation Play Globalstar ( NASDAQ:GSAT) operates a low-Earth orbit satellite constellation providing IoT connectivity and emergency communications."
"Intuitive Machines ( NASDAQ:LUNR) is betting on commercial lunar missions becoming sustainable business. The company secured NASA contracts to deliver payloads to the moon's surface, positioning itself as infrastructure for the Artemis program. Revenue hit $220M trailing, but the company burned cash with a negative 29.4% operating margin and $65M in negative EBITDA. Earnings volatility is extreme. In Q2 2025, Intuitive Machines missed estimates by 2,300%, posting a $0.22 loss versus a $0.01 expected gain. By Q3 2025, losses narrowed to $0.06."
Retail investors cannot directly buy SpaceX exposure, shifting attention to publicly traded companies building orbital infrastructure. The growth opportunity centers on satellite internet for shipping, IoT connectivity from low-Earth orbit, commercial lunar deliveries, and small-payload launch services. Globalstar generated $262M in trailing revenue with a 13.9% operating margin and gained Apple integration for iPhone emergency SOS, yet trades at premium multiples (30x revenue, 79x EBITDA) that assume significant revenue acceleration and carry contract concentration risk. Intuitive Machines recorded $220M trailing revenue but shows a negative 29.4% operating margin, $65M negative EBITDA, and highly volatile quarterly earnings with improving annual losses.
Read at 24/7 Wall St.
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