Equity Capital Markets, Private Capital

Axiom Space (Series C)

Thematic Investing Focus: The Space Exploration Industry

Key Investment Highlights

Exclusive right to build the world’s first commercial space station on the ISS

Axiom Space Station will become the only microgravity research and manufacturing facility
and destination for commercial travelling in space.
Hence, this Space Station provides the opportunity for the company to expand its lines of
businesses in addition to human spaceflight.

Axiom Space’s design and deployment are at least a decade ahead of its competitors

Axiom Space won the agreement to connect its station with the ISS. They spent 3 years in
design and deployment to earn the privilege to partner with the ISS and 2 years preparing
for the crew missions in 2022. The entry barrier for competitors to replicate Axiom Space’s
success is therefore extremely high.
With the completion of the 1st crew mission in April 2022, Axiom Space will launch its 2nd
and 3rd missions next year. The company plans to connect the station modules to the ISS in
2024 whereas other industry players are still in the planning and rendering stage.

Generating significant revenue in a growing industry with huge TAM potential

UBS, MS, BofA and GS estimate the entire space industry sector will be worth at least $1
trillion within 20 years.
So far Axiom Space has received a $720M of contract revenue, in which a $260M of
payment has been received and is expecting to close another $150M deal soon.
Going forward, Axiom Space is expected to become cash flow positive in 2025, and to
generate $1Bn+ free cash flow annually from 2028 onwards.