# Voyager Technologies, Inc./TX (VOYG) · Edgar & Edgarette company card

> Voyager Technologies (VOYG) grew revenue 15.4% in FY2025 to $166 million, operating margin -65.2% against a 4.8% median for guided missiles & space vehicles & parts, equity 36.5% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1788060 · fiscal year ended 2025-12-31 · 3 audited years read · [page](https://www.pops4.com/boards/company/VOYG) · [JSON](https://www.pops4.com/boards/company/VOYG.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $166M |
| Revenue growth, 1 year | 15.4% |
| Revenue growth per year | 10.6% |
| Operating margin | -65.2% (prior year -33.6%) |
| Net margin | -67.5% |
| Operating cash flow | −$61M |
| Capital spending | $145M |
| Free cash flow | −$206M |
| Cash | $491M |
| Long-term debt | — |
| Total assets | $1.1B |
| Total equity | $384M |
| Equity ÷ assets | 36.5% |
| Return on equity | -29.3% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: 1.56 (grey zone)
- Piotroski F: 4 of 9 (middling)
- Beneish M: -1.55 (above the −1.78 line)
- Health Harbor boat: Weathered boat · two warning signs · operating cash flow was negative; operating loss: a margin of -65.2% in FY2025
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $166.4M (FY2025). Experience: revenue up 15.4% on the year, up 10.6% a year over 2 years; operating margin -65.2%, down from -33.6%. Soundness: equity 36.5% of assets, return on equity -29.3%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $148.3M and $238.4M next year (method v3, set from 4,309 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (75 filers, $50M+ revenue, its industry group): operating margin -65.2% against a 4.8% median; growth 15.4% against 4.9%.

Range logged 2026-09-29, receipt 42bddc963b04014a, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

No warning filings in the window.

## Recent filings

- 10-Q · filed 2026-11-03 · [filing](https://www.sec.gov/Archives/edgar/data/1788060/000162828026069548/0001628280-26-069548-index.htm)
- 8-K · filed 2026-11-02 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1788060/000162828026068886/0001628280-26-068886-index.htm)
- 8-K · filed 2026-09-28 · 1.01 Entry into a Material Definitive Agreement; 2.03 Creation of a Direct Financial Obligation; 3.02 Unregistered Sales of Equity Securities; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1788060/000162828026063717/0001628280-26-063717-index.htm)
- 8-K · filed 2026-08-14 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1788060/000162828026057100/0001628280-26-057100-index.htm)
- 10-Q · filed 2026-08-04 · [filing](https://www.sec.gov/Archives/edgar/data/1788060/000162828026052292/0001628280-26-052292-index.htm)
- 8-K · filed 2026-08-03 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1788060/000162828026051870/0001628280-26-051870-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001788060.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1788060

## Cite

POPS4, Edgar & Edgarette: Voyager Technologies, Inc./TX (VOYG) company card, from the company's own SEC filings, accessed 2026-11-14, https://www.pops4.com/boards/company/VOYG. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.