Revenue Recognition |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue Recognition | Revenue Recognition Disaggregated Revenue The Company disaggregates revenue from contracts with customers by customer type, product or service type and geographic location, as the Company believes these categories best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. The Company’s revenues by customer type were as follows (in thousands):
The Company recognized revenue from sales to customers in the United States during the three months ended March 31, 2026 and 2025 of $9,574 and $9,599, respectively. The Company generated $559 of revenue from international customers during the three months ended March 31, 2026 and there was no revenue generated from international customers for the three months ended March 31, 2025. Remaining performance obligations represent the amount of contracted future revenue that has not yet been recognized. As of March 31, 2026, the Company’s remaining performance obligations were $25,115. The Company currently expects to recognize approximately $15,720 of the remaining performance obligations as revenue during the next 12 months and the remaining to be recognized thereafter. For contracts that the Company has elected the practical expedient to recognize revenue in the amount of consideration to which it has the right to invoice the customer based on services provided, the Company does not disclose unsatisfied performance obligations. Contract Liabilities As of March 31, 2026 and December 31, 2025, the Company had total deferred revenue of $17,141 and $16,254, respectively. Deferred revenue, and deferred revenue, non-current, increased during the three months ended March 31, 2026, primarily due to receipt of customer payments exceeding revenue recognized on performance obligations. Revenue recognized related to these balances that existed at the beginning of the year was $288 and $3,372 for the three months ended March 31, 2026 and 2025, respectively. During the three months ended March 31, 2026, the Company also entered into an agreement for post-certification aircraft sales. This agreement has no associated revenues or cost of sales for the three months ended March 31, 2026. As of March 31, 2026 and December 31, 2025, the Company has recorded deposits of $1,000 within deferred revenue and $4,260 within deferred revenue, non-current
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