v3.26.1
BUSINESS ACQUISITION (Tables)
 3 Months Ended
Mar. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Recognized Asset Acquired and Liability Assumed
The table below sets forth the consideration paid, and the preliminary fair value of the assets acquired, and liabilities assumed at the acquisition date:
December 18,
2025
Assets acquired and liabilities assumed
Cash and cash equivalents$5,782
Contract accounts receivable2,056
Prepaid expenses and other current assets2,016
Inventory4,014
Account receivable—
Contract assets6,726
Other long-term assets215
Satellites, property and equipment6,314
Right-of-use assets - operating8,808
Intangibles35,600
Goodwill116,866
Total assets$188,397
Accounts payable1,263
Accrued expenses and other current liabilities3,825
Contract liabilities297
Current portion of operating lease liabilities537
Deferred tax liabilities7,710
Operating lease liabilities, net of current portion8,271
Total liabilities21,903
Total net assets $166,494
Schedule of Consideration Paid
December 18,
2025
Consideration paid
Cash$117,694
Fair value of Series E Preferred Shares(1)
25,000
Other consideration 23,800
Total consideration$166,494
Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table summarizes the fair value of acquired identifiable intangible assets:
December 18,
2025
Trade name(2)
$2,200
Customer relationships(2)
Follow-on
10,800
Existing backlog
1,100
Developed technology(2)
21,500
Total acquired intangible assets$35,600
(1)As part of the Merger Agreement, the Company issued 1,325,316 shares of Series E preferred shares at $18.86343 per share. See Note 8 – Mezzanine Equity and Shareholders Deficit for more details.
(2)The amortization period for the trade name, customer relationships follow-on, customer relationships existing backlog, and developed technology are four years, ten years, one year, and five years, respectively.
Schedule of Pro Forma Information The unaudited pro forma information presented below is for informational purposes only and is not necessarily indicative of the consolidated results of operations of the combined business had the acquisition actually occurred at the beginning of 2024, or of the results of future operations of the combined business.
For the three months ended
March 31, 2025
Pro forma revenue$37,119
Pro forma net loss$(423)