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NorthStar Earth & Space Reports Third Quarter 2026 Results
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Revenue of $17.2 million, up $15.8 million from Q3 2025
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Operating income of $10.4 million, up $13.4 million from Q3 2025
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Completed business combination with Viking Acquisition Corp. I; which began trading on NYSE American as NorthStar Earth & Space Enterprises, Inc. under the symbols “NSTR” and “NSTR.WS,” respectively
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Closed the business combination with Viking Acquisition Corp. I on October 1, 2026, including a US$30 million PIPE
MONTRÉAL, November 12, 2026–(BUSINESS WIRE)–NorthStar Earth & Space Inc. (“Legacy NorthStar”), a space domain awareness (SDA) company and wholly-owned subsidiary of NorthStar Earth & Space Enterprises, Inc. (“NorthStar” or the “Company”), whose common shares and public warrants trade on NYSE American under the symbols “NSTR” and “NSTR.WS,” respectively, today announced its financial results for the three and nine months ended September 30, 2026. All amounts are in Canadian dollars and reported under U.S. generally accepted accounting principles (“U.S. GAAP”) unless otherwise noted.
The business combination with Viking Acquisition Corp. I closed on October 1, 2026, after the end of the quarter. Results for the periods presented are therefore those of Legacy NorthStar before the business combination.
“With revenue growth of $15.8 million from Q3 2025, we continue to advance the expansion of the NorthStar Skylark Constellation,” said Stewart Bain, Founder and Chief Executive Officer of NorthStar. “Our full engagement with the 3 Canadian Space Division (3 CSD) highlights the immediate demand for sovereign and responsive Space Domain Awareness services from commercial enterprise. Through this relationship and others, NorthStar is supporting NATO allies and beyond to ensure safe and secure operations in space. Our listing on NYSE American gives us the platform to raise awareness for our leading capabilities and accelerate the rollout of our advanced services.”
Third quarter 2026 highlights of Legacy NorthStar
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Revenue of $17.2 million, compared to $1.4 million in Q3 2025
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Operating income of $10.4 million, compared to an operating loss of $(3.1) million in Q3 2025
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Net income of $7.7 million, compared to a net loss of $(6.2) million in Q3 2025
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Nine-month revenue of $25.6 million, compared to $7.5 million for the prior-year period
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Cash and cash equivalents of $0.3 million at September 30, 2026, before transaction proceeds of US$30 million received on closing of the business combination on Oct 1, 2026
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Continuing to deliver on six products and services to the Royal Canadian Air Force’s 3 CSD
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Signed payload hosting agreement with Kepler Communications to place NorthStar’s optical SDA sensors on Kepler’s optical data relay satellites
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Secured up to $2 million in funding and advisory support from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to develop modular, advanced-aperture SDA sensor technology
