Shareholders of Terran Orbital (NYSE: LLAP) had a rough last week. After reporting a larger-than-expected Q4 loss on Tuesday, the start-up satellite manufacturer saw its stock price shaved by 7.5% -- and the shares kept on sliding all week long.

But it could have been worse.

Terran tripled its sales in fourth-quarter 2022, as compared to Q4 2021, and ended the year with sales up 130% over 2021 levels. True, input costs rose faster than revenues, resulting in larger losses for the year than experienced in 2021. But in Q4 in particular, Terran's losses slimmed, and a larger base of shares (a consequence of dilution from last year's SPAC IPO) cut per-share losses even further.

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Source Fool.com