v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
5. Revenue
Disaggregation of Revenue
The Company generates revenue from the sale of space-based intelligence & AI services, mission solutions, and advanced technology programs, primarily to domestic and international government agencies. The approximate revenue based on the geographic location of end customers was as follows for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
(in thousands)
United States
$
11,283 
$
13,721 
$
21,073 
$
25,541 
Rest of world
22,033 
8,478 
33,017 
26,202 
Total revenue
$
33,316 
$
22,199 
$
54,090 
$
51,743 
The Company has a concentration of contractual revenue arrangements with the U.S. federal government and agencies as well as with international governments. For the three months ended June 30, 2026 and 2025, the rest of world had two and one countries, respectively, that generated 10% or more of the Company's total revenue. For the six months ended June 30, 2026 and 2025, the rest of world had two countries that each generated 10% or more of the Company's total revenue.
For the three and six months ended June 30, 2026 and 2025, the Company had the following customers whose revenue balances individually represented 10% or more of the Company’s total revenue:
Revenue
Three Months Ended June 30,
Six Months Ended June 30,
Customer
Geographic Area(1)
2026
2025
2026
2025
U.S. federal government and agencies
United States
34%
61%
38%
49%
Customer B
Rest of world
14%
20%
17%
17%
Customer C
Rest of world
19%
*
12%
*
Customer D
Rest of world
*
*
*
21%
* Revenue from these customers were less than 10% of total revenue during the period.
(1) Each customer whose revenue balances balance individually represented 10% or more of the Company’s total revenue relates to a unique country.
As of June 30, 2026 and December 31, 2025, the Company had the following customers whose accounts receivable balances individually represented 10% or more of the Company’s total accounts receivable:
Accounts Receivable
As of June 30,
As of December 31,
Customer
Geographic Area(1)
2026
2025
U.S. federal government and agencies
United States
11%
*
Customer C
Rest of world
16%
*
Customer E
Rest of world
44%
50%
Customer F
Rest of World
*
11%
* Accounts receivable from these customers were less than 10% of total accounts receivable at the end of the period.
(1) Each customer whose accounts receivable balance individually represented 10% or more of the Company’s total accounts receivable relates to a unique country.
Revenue from categories of end customers for the three and six months ended June 30, 2026 and 2025 was as follows:
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
(in thousands)
U.S. federal government and agencies
$
11,350 
$
13,496 
$
20,595 
$
25,183 
International governments
21,636 
7,928 
32,340 
25,054 
Commercial and other
330 
775 
1,155 
1,506 
Total revenue
$
33,316 
$
22,199 
$
54,090 
$
51,743