Defense Tech Signals · Capital vs. Contracts Open-source analysis · public data only Data as of Nov 8, 2026 · obligations refresh every other Monday
NatSec100 #44

Xona Space

Recipient: XONA SPACE SYSTEMS INC. · UEI F2SEVE8JC648

About $46 raised for every $1 obligated. 62% of it came through prime contracts.

Capital raised
$570.0M
Federal obligations, FY2020–FY2026
$12.5M
Raised per $1 obligated
45.6×
Latest valuation
$2.5B
Series D

Obligations by fiscal year

$M
0.2 FY20 0.1 FY21 1.0 FY22 0.9 FY23 10.3 FY24 0 FY25 0 FY26

Prime contracts Other Transactions Subawards

Contract mix

Prime contracts
$7.8M
Other Transactions
$4.7M
Subawards
$0

Notes

Funding
Includes $20M SpaceWERX award

Cite this: Defense Tech Signals, "Capital vs. Contracts: Xona Space," data as of 2026-11-08, https://data.defensetechsignals.com/c/xona-space/.

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.