Revenue (Tables)

6 Months Ended

Jun. 30, 2026

Revenue from Contract with Customer [Abstract]

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


		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.

Backlog

Backlog represents the future sales the Company expects to recognize on firm orders it receives and is equivalent to the Company’s remaining performance obligations at the end of each period. It comprises both funded backlog (firm orders for which funding is authorized and appropriated) and unfunded backlog. The Company's backlog excludes unexercised contract options. As of June 30, 2026, the Company had $378.1 million of backlog, which represents the transaction price of executed contracts less inception to date revenue recognized. The Company expects to recognize revenue relating to its backlog, a portion of which is recorded in deferred revenue in the unaudited condensed consolidated balance sheets, of $76.2 million, $72.6 million, and $229.3 million in the six months ending December 31, 2026, fiscal year 2027, and thereafter, respectively.

Schedules of Concentration of Risk, by Risk Factor

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