Voyager Technologies: Not Joining On The Mission

  • Voyager Technologies is trading at a sky-high 20x sales multiple despite modest growth and substantial operating losses, making the valuation hard to justify. Revenue growth is lackluster, with heavy reliance on a few major customers and a business model driven by M&A. Starlab Space Station offers potential, but it's not yet generating revenue and requires significant additional capital, adding to execution and funding risks.