Orbital infrastructure group reports second quarter 2022 results

Record quarterly revenue of $93.9 million raises full-year 2022 revenue guidance to a range of $405 million to $450 million houston , aug. 11, 2022 /prnewswire/ -- orbital infrastructure group, inc. (nasdaq: oig) ("orbital infrastructure" or the "company") today reported its financial results for the second quarter ended june 30, 2022. second quarter summary revenues of $93.9 million, compared to $70.3 million in the prior quarter and $11.5 million for the second quarter of 2021; gross profit of $9.8 million compared to a gross loss of $2.9 million in the second quarter of 2021; operating loss of $7.7 million, an improvement of $9.9 million from the second quarter of 2021; adjusted ebitda from continuing operations was a positive $2.1 million compared to a positive $3.8 million in the prior quarter and a loss of $10.0 million in the second quarter of 2021; backlog of $495.3 million as of june 30, 2022, with $291.0 million expected to be recognized in the next twelve months.
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