v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 36,897 $ 42,445
Restricted cash 9,965 1,103
Short-term investments 197,283 82,006
Accounts Receivable 27,959 34,139
Contract assets 26,025 28,595
Inventories 6,178 6,178
Prepaid Expense and Other Assets, Current 5,482 12,329
Total current assets 309,789 206,795
Property and equipment - net 90,980 79,037
Operating lease right of use assets - net 5,559 3,418
Goodwill 10,279 10,279
Intangible assets - net 3,500 4,422
Satellite work in process 95,608 80,651
Other assets 1,311 1,644
Total assets 517,026 386,246
Current liabilities:    
Accounts payable and accrued liabilities 13,787 14,945
Contract liabilities - current 18,995 20,518
Debt, Current 11,672 7,937
Other current liabilities 8,639 16,061
Total current liabilities 53,093 59,461
Operating lease liabilities 10,059 7,579
Derivative liabilities 39,171 20,648
Long-term debt - net of current portion 199,166 193,180
Other liabilities 4,005 10,503
Total liabilities 305,494 291,371
Commitments and contingencies (Note 17)
Stockholders’ equity:    
Class A common stock, $0.0001 par value-authorized, 300,000 shares; issued, 40,925 and 36,227 shares; outstanding, 40,628 shares and 35,930 shares as of June 30, 2026 and December 31, 2025, respectively. 4 4
Additional paid-in capital 988,473 821,319
Accumulated deficit (776,945) (726,448)
Total stockholders’ equity 211,532 94,875
Total liabilities and stockholders’ equity $ 517,026 $ 386,246