The Highway — In-Space Services & Cislunar
NASA's CLPS program turned one private company into a publicly-listed lunar prime. Voyager IPO'd in 2025 to fund the ISS replacement.
Above LEO, the action is on the Moon, around the Moon ( cislunar ), and keeping LEO clean. NASA's Commercial Lunar Payload Services (CLPS) program contracts private companies to land payloads on the Moon — Intuitive Machines is the prime that's done it twice (IM-1 February 2024, IM-2 March 2025). Artemis II's crewed lunar flyby is targeted for late 2026 / early 2027 and is the catalyst calendar's biggest event. Voyager Technologies (NYSE: VOYG, IPO'd June 2025) is the prime for Starlab. Astroscale (Tokyo 186A.T) is the global leader in active debris removal.
Artemis is the multi-decade demand catalyst. LROC, NSN, and Human Landing System contracts are multi-billion-dollar pipelines. The ISS decommissions by 2030 — the Phase 2 CLD award is the prize.
3 names on the watchlist
The only publicly listed lunar lander prime that has actually soft-landed on the Moon
Q1 FY26 revenue $186.7M and first-ever positive adjusted EBITDA of approximately +$2.7M . Contract pipeline includes the Near Space Network (NSN) services contract from NASA (multi-billion-dollar cislunar comms relay), LROC prime designation, multiple CLPS task orders (IM-3, IM-4), and the recent Lanteris acquisition (propulsion and integration). Cantor Fitzgerald's Andres Sheppard raised PT to $43 from $26 in mid-May 2026 and called LUNR the top public-market Artemis II beneficiary . Other raises: Roth $50, B. Riley $45, Clear Street $44.
Prime for Starlab — one of three NASA-selected commercial ISS replacements + defense systems
IPO'd on NYSE June 11, 2025 at $31. Three segments: (1) Defense & National Security ; (2) Space Solutions ; (3) Starlab Space Stations . Starlab is a JV (Voyager 67% / Airbus 30.5% / Mitsubishi / MDA Space / Palantir) developing the commercial ISS replacement. Voyager has received $217.5M in NASA Space Act Agreement funding . Total liquidity at end of Q2 2025 was $669M, debt-free.
Global leader in active debris removal, end-of-life deorbit, GEO life extension
Operates ADRAS-J (first close-approach inspection of a derelict rocket body in LEO) and is building EOL-J for JAXA debris removal. Multiple ESA, UKSA, and Space Force/SDA contracts via UK and US subsidiaries. Targeting FY26 revenue of ¥36B (~$240M) for operating breakeven.