Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

The following summarizes property and equipment - net as of:


	June 30,		December 31,
	2026		2025
	(in thousands)
Satellites	$	164,733	$	143,440
Software	53,686		46,245
Office furniture and fixtures	8,991		9,086
Software development in process	3,141		3,925
Production and engineering equipment	3,992		3,421
Site equipment	2,802		2,682
Computer equipment	1,861		1,705
Other equipment	1,078		999
	240,284		211,503
Less: accumulated depreciation	(149,403)		(132,466)

Property and equipment not yet placed in service	99		—
Property and equipment — net	$	90,980	$	79,037

EAC Adjustments

The following table presents the effect of aggregate net EAC adjustments on the Company's contracts:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026(1)		2025		2026		2025
	(in thousands)
Revenue	$	1,794	$	(1,023)	$	1,649	$	(1,229)
Basic and diluted net loss per share	$	0.05	$	(0.03)	$	0.04	$	(0.04)

(1) During the three months ended June 30, 2026, the Company recorded favorable EAC adjustments of $2.9 million and $0.8 million on two mission solutions programs due to labor efficiencies and the retirement of risk. The Company also recorded an unfavorable EAC adjustment of $1.9 million on a mission solutions program due to an increase in estimated labor hours on the project. The remaining EAC adjustments are not individually significant to the Company.