-0%

est. 2Y upside i

AerospaceSeries D+

Rank

#2295

Sector

Aerospace and Defense

Est. Liquidity

~3Y

Data Quality

Data: Low

Despite the recent $4.26B valuation and $500M Series D, the lack of disclosed revenue makes upside highly uncertain.

Last updated: July 19, 2026

Bull (15%)+199%

If Impulse secures major DoD contracts (e.g., Golden Dome) and Mars mission success, revenue reaches $1B, supported by 15x exit multiple from RKLB comp. Net of 15% dilution, upside 199%.

Base (55%)-0%

Revenue grows to $500M with 10x multiple, resulting in slight downside from current $4.26B valuation. Net of dilution, return near break-even.

Bear (30%)-100%

Revenue disappoints at $200M, multiple contracts to 6x, exit value below $1B. Preferred stack absorbs all proceeds, common equity worthless (-100% return).

Est. time to liquidity~3.0 years

Preference Stack Risk

high

Funding Intensity

2350%

Total funding $1B against $4.26B valuation creates a 23.5% preference overhang, meaning common equity is wiped out below ~$1B exit.

Dilution Risk

moderate

15% assumed dilution from option pool and future fundraising, though current $500M provides 2+ years runway.

Secondary Liquidity

none

No secondary market activity reported; liquidity likely tied to acquisition or IPO.

Engineering (general) — 1 role

View all 1 open roles at Impulse →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Impulse's data — designed to show you've done your homework.

  • 1

    “How does Impulse plan to differentiate from SpaceX's in-space transportation capabilities?”

  • 2

    “What is the expected revenue mix between government and commercial customers over the next 2 years?”

  • 3

    “What is the typical liquidity path and timeline for employees, and is there a secondary market?”

Community

Valuation Sentiment

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.