v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 373,436 $ 491,329
Accounts receivable, net 40,367 29,819
Contract assets 37,460 29,786
Inventories 9,616 3,825
Prepaid expenses and other current assets 24,796 26,541
TOTAL CURRENT ASSETS 485,675 581,300
Property and equipment, net 213,609 164,286
Operating lease right-of-use assets 38,890 18,164
Intangible assets, net 89,892 98,982
Goodwill 157,674 157,674
Other assets 23,533 30,048
TOTAL ASSETS [1] 1,009,273 1,050,454
Current liabilities:    
Accounts payable 37,624 27,386
Contract liabilities 22,522 24,338
Operating lease liabilities 7,582 5,831
Accrued expenses and other current liabilities 60,101 75,472
TOTAL CURRENT LIABILITIES 127,829 133,027
Operating lease liabilities, non-current 34,580 13,336
Contract liabilities, non-current 7,904 7,899
Convertible notes, net 448,903 447,634
Deferred tax liabilities 9,842 8,858
Other long-term liabilities 3,633 10,167
TOTAL LIABILITIES [1] 632,691 620,921
Commitments and Contingencies (Note 17)
Additional paid-in capital 840,707 797,438
Treasury stock, at cost (38,537) (27,702)
Accumulated other comprehensive loss (62) (95)
Accumulated deficit (476,400) (385,927)
Total Voyager Technologies, Inc. equity 325,714 383,720
Noncontrolling interests 50,868 45,813
TOTAL EQUITY 376,582 429,533
TOTAL LIABILITIES AND EQUITY 1,009,273 1,050,454
Class A Common Stock    
Current liabilities:    
Common stock 5 5
Class B Common Stock    
Current liabilities:    
Common stock $ 1 $ 1
[1] Includes balances associated with a consolidated variable interest entity (“VIE”), including amounts reflected in “TOTAL ASSETS” that can only be used to settle obligations of the VIE as well as liabilities of the VIE reflected within “TOTAL LIABILITIES” for which creditors do not have recourse to the general credit of Voyager. See “Notes to Condensed Consolidated Financial Statements—Note 16, “Joint Venture”, for additional information.