| Schedule of Operations from our Business Segments |
The following tables reflect the results of operations
from our business segments for the periods indicated below (in thousands):
| | |
Year Ended December 31, 2025 | |
| | |
| | |
Commercial | | |
Unallocated | | |
| |
| | |
UAS | | |
Aviation | | |
Costs | | |
Total | |
| Revenue | |
$ | 22,490 | | |
$ | — | | |
$ | — | | |
$ | 22,490 | |
| Cost of revenues | |
| 17,569 | | |
| — | | |
| — | | |
| 17,569 | |
| Gross Profit | |
| 4,921 | | |
| — | | |
| — | | |
| 4,921 | |
| Operating expenses | |
| | | |
| | | |
| | | |
| | |
| Research and development | |
| 28 | | |
| 5,212 | | |
| — | | |
| 5,240 | |
| Sales and marketing | |
| 983 | | |
| 1,591 | | |
| 3,030 | | |
| 5,604 | |
| General and administrative | |
| 2,087 | | |
| 1,383 | | |
| 29,375 | | |
| 32,845 | |
| Other expenses(1) | |
| 134 | | |
| 32 | | |
| 3,887 | | |
| 4,053 | |
| Total operating expenses | |
| 3,232 | | |
| 8,218 | | |
| 36,292 | | |
| 47,742 | |
| Income (loss) from operations | |
$ | 1,689 | | |
$ | (8,218 | ) | |
$ | (36,292 | ) | |
$ | (42,821 | ) |
| (1) | Other expenses include acquisition-related transaction costs and amortization of intangibles. |
| | |
Year Ended December 31, 2024 | |
| | |
Commercial | | |
Unallocated | | |
| |
| | |
Aviation | | |
Costs | | |
Total | |
| Revenue | |
$ | — | | |
$ | — | | |
$ | — | |
| Gross Profit | |
| — | | |
| — | | |
| — | |
| Operating expenses | |
| | | |
| | | |
| | |
| Research and development | |
| 1,970 | | |
| — | | |
| 1,970 | |
| Sales and marketing | |
| 324 | | |
| 1,193 | | |
| 1,517 | |
| General and administrative | |
| (741 | ) | |
| 20,401 | | |
| 19,660 | |
| Other expenses(1) | |
| 6,520 | | |
| — | | |
| 6,520 | |
| Total operating expenses | |
| 8,073 | | |
| 21,594 | | |
| 29,667 | |
| Loss from operations | |
$ | (8,073 | ) | |
$ | (21,594 | ) | |
$ | (29,667 | ) |
| (1) | Other expenses include merger-related transaction costs and amortization of intangibles. |
|