v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
Note 3 - Revenue
Revenue disaggregated by products and services is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Products$461 $403 $841 $755 
Services7,353 3,668 11,667 7,383 
Total revenues
$7,814 $4,071 $12,508 $8,138 
All of products revenue is attributable to the Connectivity segment.
Revenue disaggregated by type and segment is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Launch Services $648 $490 $978 $1,056 
Launch & Development314 256 603 555 
Space
962 746 1,581 1,611 
Consumer2,485 1,721 4,633 3,213 
Enterprise & Government (1)
1,806 867 2,915 1,849 
Connectivity
4,291 2,588 7,548 5,062 
Advertising367 426 710 870 
AI Solutions & Infrastructure2,194 311 2,669 595 
AI
2,561 737 3,379 1,465 
Total revenues
$7,814 $4,071 $12,508 $8,138 
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(1) Enterprise & Government revenue includes revenue from Starlink Mobile service offerings.
Deferred revenue
Deferred revenue is recorded when cash payments are received or due, in advance of the Company’s performance. Deferred revenue primarily relates to Space agreements and Connectivity enterprise and government contracts. Total deferred revenue as of December 31, 2025 was $12,116 million, of which $1,315 million and $2,480 million was recognized as revenue during the three and six months ended June 30, 2026, respectively. Total deferred revenue as of June 30, 2026 was $14,286 million.
Backlog
The Company’s backlog represents the transaction price of performance obligations to customers for which work remains to be performed. The amount of backlog increases with new contracts or additions to existing contracts and decreases as revenue is recognized on existing contracts. Contracts are included in backlog when an enforceable agreement has been reached. Backlog does not include amounts related to performance obligations that are billed and recognized as they are delivered, optional purchases that do not represent material rights and any estimated amounts of variable consideration that are subject to constraint. Backlog totaled
$47,461 million as of June 30, 2026, of which $14,286 million was recognized as deferred revenue at June 30, 2026. Approximately 56% is expected to be recognized within one year, and approximately 34% is expected to be recognized between one and three years, with the remaining 10% to be recognized thereafter.
Concentration of risk
Consolidated revenue from significant customers is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Customer A18.3 %16.7 %17.9 %19.9 %
Customer B19.5 %*12.2 %*
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* Customer did not represent more than 10% of consolidated revenue for the period.
Revenue from Customer A relates to all three segments and revenue from Customer B relates to the AI segment. No other customers represented more than 10% of consolidated revenue during the three and six months ended June 30, 2026 and 2025.