Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #27

X-Bow

Recipient: X-BOW LAUNCH SYSTEMS INC · UEI MD76AJXHCMQ5

Obligated more than it has raised: about $1.18 in federal money for every $1 of private capital. 62% of it came through prime contracts.

Capital raised
$262.0M
Federal obligations, FY2020–FY2026
$309.2M
Raised per $1 obligated
0.85×
Latest valuation
—
Not disclosed

Obligations by fiscal year

$M
1.5 FY20 4.1 FY21 2.6 FY22 64.9 FY23 13.5 FY24 189.6 FY25 32.9 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$191.3M
Other Transactions
$117.9M
Subawards
$0

Cite this: Defense Tech Signals, "Capital vs. Contracts: X-Bow," data as of 2026-11-08, https://data.defensetechsignals.com/c/x-bow/.

Coverage: prime contracts, IDVs and grants (USAspending), direct Other Transactions (FPDS) and subawards received, FY2020–FY2026. Not included: consortium OTs, FY 2027 so far, loans and classified work. Capital raised: Compiled from announcements and press (Oct 2026). Obligations last refreshed 11/5/2026.