![]() raised just $158 million, much less than originally targeted. ![]() "Starry's plan is over twice that pace over the next five years," he added.īut the analyst also points out that Starry's need for more capital "introduces yet another wrinkle," noting that Starry's recent acquisition by FirstMark Horizon Acquisition Corp. Moffett notes that Starry has averaged more than 1 million homes per year to reach its current level of 5.5 million serviceable homes. "Starry's technology works, and we believe it can and will be profitable. Instead, it reflects a view that achieving their targets will simply take a bit longer than Starry projected," the analyst explained. "Some might take this as an indictment of their business. Moffett acknowledges that his "enthusiasm is tempered" by the fact that his firm's forecasts are significantly lower than the projections put forth by Starry last year.Ĭlick here for a larger version of this image.
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