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    Griffin Bose B.

    Research Analyst at Riley Securities

    Griffin Boss is an Equity Research Analyst in the Discovery Group at B. Riley Securities, specializing in the Media & Entertainment sector with primary coverage of companies such as Reservoir Media, Inc. He joined B. Riley Securities as an associate analyst in December 2021 and was promoted to research analyst in August 2023, following experience as a portfolio manager at Ragnar Capital LLC where he managed small- and mid-cap equity portfolios and as Revenue Operations Manager at Magnite. While at Ragnar, he led equity research and capital allocation for value and growth investments, and his industry coverage at B. Riley focuses on identifying undervalued, lesser-known companies. Boss holds a prominent role in B. Riley’s research platform, although specific performance metrics and licensing details are not published in public records.

    Griffin Bose B.'s questions to LLAP leadership

    Griffin Bose B.'s questions to LLAP leadership • Q3 2023

    Question

    Asked about future gross margin expectations, whether the switch in propulsion suppliers for Tranche 1 affected Q4 deliveries and revenue guidance, the company's activity in MEO and GEO bus applications, and for clarification on the average satellite price implied by the company's pipeline figures.

    Answer

    Management is optimistic that the current 16.5% adjusted gross margin is an inflection point, with the current backlog having a margin profile in the low to mid-20s. The Tranche 1 delivery schedule is not delayed, but an attempt to deliver ahead of schedule was impacted by the supplier change. The company is actively bidding on MEO and micro GEO RFPs. The pipeline's average satellite price is a blend of various types, with costs ranging from $1 million to $15 million depending on the orbit and complexity.

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