v3.26.1
SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table summarizes the operating performance of the Company’s segments:
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net Sales:
Defense and Space Technologies$53,211 $46,064 $89,337 $81,537 
Starlab Space Stations— — — — 
Total net sales, reportable segments53,211 46,064 89,337 81,537 
Intersegment eliminations(1)
(465)(390)(1,345)(1,356)
Total net sales$52,746 $45,674 $87,992 $80,181 
Other Segment Expenses(2):
Defense and Space Technologies$63,196 $45,817 $110,307 $82,732 
Starlab Space Stations6,624 1,969 12,044 4,783 
Total other segment expenses, reportable segments69,820 47,786 122,351 87,515 
Intersegment eliminations(1)
(465)(390)(1,345)(1,356)
Corporate and other expenses21,017 7,595 37,944 25,071 
Total other segment expenses
$90,372 $54,991 $158,950 $111,230 
Adjusted EBITDA:
Defense and Space Technologies$(9,985)$498 $(20,970)$(568)
Starlab Space Stations(6,624)(1,969)(12,044)(4,783)
Total Adjusted EBITDA, reportable segments(16,609)(1,471)(33,014)(5,351)
Intersegment eliminations126 — 127 — 
Corporate and other expenses(21,017)(7,595)(37,944)(25,071)
Depreciation and amortization(7,170)(2,708)(13,203)(5,310)
Stock-based compensation(3,762)(11,547)(7,891)(13,270)
Finance and interest expense, net(1,905)(2,523)(4,019)(5,252)
Net loss attributable to noncontrolling interests(2,256)(1,683)(4,217)(2,674)
Interest income3,279 2,429 7,098 3,513 
Other(3)
(1,627)(7,886)(596)(7,450)
Loss before taxes$(50,941)$(32,984)$(93,659)$(60,865)
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(1)As a result of the Segment change during the first quarter of fiscal 2026, intersegment eliminations for comparative periods have been recast.
(2)Other Segment Expenses consist of cost of sales, research and development, selling, general, and administrative and other income or expense items which are not deducted when calculating Adjusted EBITDA.
(3)Other consists of acquisition costs, restructuring, impairment, and other income or expense items which are deducted when calculating Adjusted EBITDA. In prior period filings, ‘Interest income’ was grouped into this line item. During the third quarter of 2025, it was broken out due to materiality and prior periods have been recast to break out 'Interest income'.
The Company’s total capital expenditures were as follows:
Three Months Ended June 30, 2026Defense and Space TechnologiesStarlab Space StationsCorporateTotal
Capital expenditures:
Property and equipment$16,443 $18,760 $333 $35,536 
Total capital expenditures$16,443 $18,760 $333 $35,536 
Three Months Ended June 30, 2025Defense and Space TechnologiesStarlab Space StationsCorporateTotal
Capital expenditures:
Property and equipment$662 $30,214 $18 $30,894 
Total capital expenditures$662 $30,214 $18 $30,894 
Six Months Ended June 30, 2026Defense and Space TechnologiesStarlab Space StationsCorporateTotal
Capital expenditures:
Property and equipment$29,242 $56,588 $822 $86,652 
Total capital expenditures$29,242 $56,588 $822 $86,652 
Six Months Ended June 30, 2025Defense and Space TechnologiesStarlab Space StationsCorporateTotal
Capital expenditures:
Property and equipment$1,704 $56,108 $53 $57,865 
Total capital expenditures$1,704 $56,108 $53 $57,865