v3.26.1
Revenues
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Substantially all revenues were generated within the United States of America.

The table below presents total revenues by contract type for the following periods:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Time and materials$17,852 $20,615 $34,985 $43,847 
Firm fixed price (1)
18,674 6,685 31,809 13,787 
Cost-reimbursable
223 5,172 4,390 9,595 
Total revenues
$36,749 $32,472 $71,184 $67,229 
(1) This includes Fixed Price, Level of Effort contracts, which are substantially similar to time-and-materials contracts except that the Company is required to deliver a specified level of effort over a stated period of time. For these contracts, the Company determines the revenue earned using contract hours worked at negotiated bill rates as the Company delivers the contractually required workforce.

The table below presents the revenue recognition pattern for the following periods:

Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Point in TimeOver TimeTotal RevenuePoint in TimeOver TimeTotal Revenue
All revenue streams$1,818 $34,931 $36,749 $1,619 $30,853 $32,472 
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Point in TimeOver TimeTotal RevenuePoint in TimeOver TimeTotal Revenue
All revenue streams$3,564 $67,620 $71,184 $2,937 $64,292 $67,229 

The table below presents total revenues by major customer type for the following periods:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
U.S. government
$31,565 $29,641 $61,499 $61,795 
Non-U.S. government and commercial
5,184 2,831 9,685 5,434 
Total revenues
$36,749 $32,472 $71,184 $67,229 
The table below summarizes the activity in the allowance for expected credit losses:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Beginning balance$438 $127 $438 $127 
Additions
41 351 41 351 
Write-offs
(348)(40)(348)(40)
Recoveries— — — — 
Ending balance
$131 $438 $131 $438 

Concentration of Risk

Revenue earned from customers contributing in excess of 10% of total revenues are presented in the tables below for the following periods:
Three Months Ended June 30, 2026Six Months Ended June 30, 2026
TotalPercent of total
revenues		TotalPercent of total
revenues
Customer A(1)
$— — %$— — %
Customer B
4,320 12 %7,996 11 %
Customer C
4,839 13 %— — %
Customer D
3,806 10 %7,353 10 %
Customer E
— — %7,120 10 %
Customer F
5,725 16 %11,410 16 %
All others
18,059 49 %37,305 53 %
Total revenues
$36,749 100 %$71,184 100 %

Three Months Ended June 30, 2025Six Months Ended June 30, 2025
TotalPercent of total
revenues		TotalPercent of total
revenues
Customer A
$3,562 11 %$10,160 15 %
Customer B
4,873 15 %9,214 14 %
Customer C (1)
— — %— — %
Customer D
3,267 10 %6,831 10 %
Customer E
3,462 11 %6,962 10 %
Customer F5,270 16 %9,999 15 %
All others
12,038 37 %24,063 36 %
Total revenues
$32,472 100 %$67,229 100 %
(1) Customers that contributed in excess of 10% of consolidated revenues in any period presented have been included in all periods presented for comparability.

As of June 30, 2026 the Company had one customer with an accounts receivable balance of $4.5 million, which exceeds 10% of total accounts receivable. As of June 30, 2025, no individual customer had an accounts receivable balance that exceeded 10% of total accounts receivable.
Contract Balances

The table below presents the contract assets and contract liabilities included on the condensed consolidated balance sheets for the following periods:
June 30,
2026		December 31,
2025
Accounts receivable, net of allowance for credit losses
$30,975 $22,703 
Contract assets$— $218 
Contract liabilities
$10,180 $14,756 

We receive payments from customers based on a billing schedule as established in our contracts. Contract assets relate to our conditional right to consideration for our completed performance under the contract. Accounts receivables are recorded when the right to consideration becomes unconditional. Contract liabilities relates to payments received in advance of performance under a contract. Contract liabilities are recognized as revenue as (or when) we perform under the contract. Included in the contract liabilities balance as of June 30, 2026 is $6.3 million of contract liabilities from our acquisition of Ask Sage. Refer to Note 4—Business Combinations. Revenue recognized in the six months ended June 30, 2026 that was included in the contract liability balance as of December 31, 2025 was $12.3 million. Revenue recognized in the six months ended June 30, 2025 that was included in the contract liability balance as of December 31, 2024 was $1.5 million.

When the Company’s estimate of total costs to be incurred to satisfy a performance obligation exceeds the expected revenue, the Company recognizes the loss immediately. When the Company determines that a change in estimate has an impact on the associated profit of a performance obligation, the Company records the cumulative positive or negative adjustment in the condensed consolidated statements of operations and comprehensive loss. Changes in estimates and assumptions related to the status of certain long-term contracts may have a material effect on the Company’s operating results.

The following table summarizes the impact of the net estimates at completion (“EAC”) adjustments on the Company’s operating results:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Net EAC Adjustments, before income taxes$58 $522 $(324)$932 
Net EAC Adjustments, net of income taxes(1)
$58 $412 $(324)$737 
Net EAC Adjustments, net of income taxes, per diluted share$— $— $— $— 
(1) Due to the Company being in a net taxable loss position for all periods presented, the impact of income taxes is insignificant.

Remaining Performance Obligations

The Company includes in its computation of remaining performance obligations customer orders for which it has accepted signed sales orders and generally includes the funded and unfunded components of contracts that have been awarded. The Company applies the practical expedient provided by ASC 606 that allows entities to exclude estimated future revenues for contracts with an original expected duration of one year or less from the remaining performance obligation disclosure. Many of the Company’s revenue contracts include termination clauses that result in the inclusion of immaterial estimated future revenues in the remaining performance obligation disclosure. Management assessed the incremental benefit to a reader of including revenue contracts with an original expected duration of one year or less in this disclosure against the effort to aggregate the appropriate information to support the disclosure and determined that the required effort outweighs the benefit to a reader of the condensed consolidated financial statements.

As of June 30, 2026, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied, or partially unsatisfied, was approximately $9.2 million. As of June 30, 2026, the estimated revenue expected to be recognized in the future related to remaining performance obligations is presented in the table below.
June 30,
2026
Next 12 months$5,732 
13 to 24 months2,154 
25 to 36 months
1,084 
Thereafter244 
Total remaining performance obligations
$9,214