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Stoke Space Stock (STOS)
Stoke Space is a developer of reusable rockets that provide access to and from any orbit to the satellite industry.
About Stoke Space Stock
Founded
2019
Headquarters
Kent, WA, US
Total Funding
891M
Industries
Science and Engineering, Travel and Tourism, Transportation
Stoke Space is an aerospace manufacturer developing Nova, a fully reusable launch vehicle designed to provide high-cadence, sustainable access to low Earth orbit and beyond. The company’s stated mission is to scale the space economy by employing a 100% reusable rocket architecture capable of rapid turnaround times for frequent orbital delivery.
Stoke Space Press Mentions
Stay in the know about the latest news on Stoke Space
Nuclear Batteries and Laser Power: NASA Picks 37 Companies to Build Moon Base Tools
techtimes • Jul 17, 2026
Stoke Space Names Ex-OpenAI Executive to Board Before Nova Rocket’s Debut Flight
techtimes • Jul 10, 2026
Former OpenAI exec Kevin Weil is now on the board of Stoke Space
TechCrunch • Jul 10, 2026
Stoke Space Appoints Kevin Weil to Board of Directors
morningstar • Jul 10, 2026
Family offices ramp up direct deals as PE fee model comes under pressure
privateequitywire • Jun 01, 2026
Stoke Space Management
Leadership team at Stoke Space
Co-Founder
Andy Lapsa
Co-Founder & CTO
Thomas Feldman
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Stoke Space Key Facts
- Series D Extension Providing Capital Runway: In February 2026, Stoke Space extended its Series D funding round to $860 million, up from the $510 million initially secured in late 2025. This transaction pushes Stoke’s total lifetime capital raised to $1.34 billion. Led by the US Innovative Technology Fund, this capital is being deployed to accelerate the company’s product roadmap, scale its manufacturing footprint, and finish activating Launch Complex 14 at Cape Canaveral. Securing this level of funding may help mitigate the early-stage development risks typical of hardware-heavy aerospace ventures, putting Stoke on strong financial footing to challenge established launch providers.
- Strategic NASA Partnership: In June 2026, NASA selected Stoke Space for a collaborative partnership to mature entry, descent, and landing (EDL) capabilities for the Nova rocket's fully reusable second stage. Supported by NASA’s Space Technology Mission Directorate, the company is working with NASA Ames Research Center to leverage its specialized hypervelocity free-flight testing and aerodynamics expertise. This collaboration helps validate Stoke’s novel, regeneratively cooled metallic heat shield design and strengthens its reputation as a pioneer in complete, two-stage reusability, a technology segment crucial for lowering downmass costs and supporting future orbital logistics.
- Milestone Structural Clearances and Launch Infrastructure Validation: In June 2026, Stoke Space completed 46 critical structural verification tests on Nova's first stage at its Moses Lake facility, confirming the durability of its pressurized tank loading and avionics systems. This technical milestone clears the way for Nova’s debut orbital flight, targeted for the end of 2026 from Cape Canaveral. Commercial and operational traction is further bolstered by Stoke's placement as one of the elite few launch companies on the U.S. Space Force’s $5.6 billion National Security Space Launch (NSSL) Phase 3 Lane 1 contract. This positions the company to compete for defense payloads as soon as the vehicle achieves operational flight status.
- Capital-Intensive Business Model and Long-Term Debt Risk: While Stoke Space successfully scaled its Series D funding round to an extended $860 million on February 10, 2026, the company must navigate structural obligations from a $100 million debt facility, secured in September 2025, alongside the initial close of the Series D round. Unlike software startups that can dynamically reduce operational overhead during macro headwinds, Stoke's capital is heavily tied to fixed manufacturing infrastructure and hardware development timelines for its fully reusable Nova vehicle. As the company aims to enable both rocket stages to survive consecutive atmospheric re-entries, a technical feat yet to be proven in orbit, this heavy debt positioning increases financial exposure prior to commercial revenue stabilization.Â
- Market Squeezing by Established Giants:: The window for new rocket companies is shrinking as established giants continue to grow. SpaceX's $2.1 trillion IPO and massive infrastructure closed-loop allow it to capture the majority of anchor government contracts, such as the $739 million in Space Force task orders awarded exclusively to them. Stoke Space must navigate a highly competitive medium-lift market timeline against near-operational reusable alternatives like Rocket Lab's Neutron and Blue Origin's New Glenn, both of which are much closer to establishing reliable flight history.Â
- Regulatory Friction and Airspace Manifest Congestion: As Stoke Space attempts to transition from engine testing to actual vehicle deployment at Cape Canaveral's Launch Complex 14, it faces an increasingly restrictive regulatory landscape. The FAA's stringent Part 450 launch safety regulations became mandatory for legacy and new operators alike on March 10, 2026, requiring extensive certifications that may delay launch schedules. Combined with historic flight volumes in the Florida corridor that result in frequent airspace ground stops, these administrative and logistical bottlenecks risk forcing delays, thereby potentially exacerbating the company’s capital burn rate while its hardware remains grounded.
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