Avanti filed for delisting to ensure it focuses on customer identification for its fleet of satellites and payloads. Usually, a firm excludes itself from public markets to cut down costs. Avanti intentionally delisted from the London Stock Exchange a year ago, explaining that the regulatory costs are burdening it more than it is profiting from the enlisting. Avanti was working on selling rideshare opportunities on its fleet of satellites to other satellite developers. The firm was also thinking of offering rideshare opportunities to the government to reinstate its favorable financial position.
The chief executive of Avanti, Kyle Whitehill, stated that they minimize expenses to remain a going concern. Some of the expenses it lists include the regulatory costs of being listed on the public market and employees’ numbers. Whitehill explained that they channel their labor in areas where they obtain a considerable sum of revenue instead of the previously scattered workforce.
Whitehill stated that the low number of employees and new equipment acquisition terms had enabled the company to minimize its costs and become competitive in its global markets. Avanti is keen to indemnify its satellite fleet production rate to reach the level of SES and Intelsat.
Whitehill revealed that Avanti is renting rideshare opportunities on both Hylas-1 and Hylas-2B satellites to confidential customers. Whitehill added that they are scheduling Hylas-2 for the Asia countries and Hylas-4 for communication purposes in Africa.
Avanti’s latest success is Hylas-3, which carried Airbus’s and ESA’s EDRS-C satellite on their orbits’ rideshare mission. Whitehill explained that the satellites had reached their orbital paths, although they are still under observation waiting for the green light to begin serving the regions in which they overhead.
Whitehill was adamant to reveal Avanti’s profitability explaining that it was a matter they wished to keep confidential for the time being. However, he said that they are working towards the reception fo $100 million in revenues in the coming two years.
Whitehill reiterated that a tune of $100 million in revenues would allow them to focus their projects’ next phase. Probably the next stage involves the development of small satellites weighing a minimum of 250 kilograms. This capacity is manageable and affordable for a firm that avoids regulatory costs of being in the public market.
Whitehill articulated that Avanyi is ready to work with a small satellite developer who can manufacture satellites within a year since the deal procession. Finally, Whitehill explained that they cast down lots over the presented partners to identify who can best serve their demands for launches without incurring huge costs. He reiterated that they want to deploy many missions that are within their means.