York Space Systems (YSS +2.04%), which held its IPO in January, is getting an enthusiastic welcome to the stock market today as investors bid the shares up 24% through 11:11 a.m. ET.
With York not yet profitable, estimates for the 2025 earnings report last night focused on revenue. Analysts forecast the company would collect $383.8 million through the end of the year. York did $386.2 million.
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York Space 2025 earnings
York's sales surged 52% year over year in 2025, and gross profit more than doubled to $75.5 million. York wasn't profitable on the bottom line, losing $84.5 million, but this was 15% less than it lost in 2024.
From a business perspective, York is positioning itself as a "modern mission prime" contractor -- a tier-1 satellite company that wins contracts from NASA and the Space Force, then subcontracts out some of the work, keeping the bulk of the profits. In this, York's marquee project is the Space Force Proliferated Warfighter Space Architecture missile defense program (also called Golden Dome), for which York delivered 21 Tranche 1 Transport Layer satellites (for data relay) in 2025.
This is both a plus and a minus for York. A plus, because so long as President Trump remains dedicated to making Golden Dome a reality, York should continue raking in contracts. A minus, because if the program suffers delays and cost overruns, Congress may cancel the project.
NYSE: YSS
Key Data Points
What's next for York Space?
Near term, York's targeting about $570 million in 2026 revenue (so 48% growth), with higher margins and "positive adjusted EBITDA."
No promises of profits, but analysts who follow the company say York could turn profitable in 2027, and earn $0.57 per share -- a 38x forward P/E ratio. Not bad for a stock growing at 48%.
