v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (50,497) $ (54,052)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 17,244 14,444
Transfer of satellite work in process to mission solutions costs 596 0
Operating lease right of use assets amortization 347 306
Stock-based compensation expense 8,417 6,351
Amortization of debt issuance costs and non-cash interest expense 458 4,017
Loss on derivatives 18,734 22,534
Non-cash interest income (1,531) (872)
Other 51 5
Changes in operating assets and liabilities:    
Accounts receivable 6,129 7,720
Contract assets - current and long-term 2,785 (14,324)
Inventories 0 (5,997)
Prepaid expenses and other current assets 6,883 605
Other assets (244) (40)
Accounts payable and accrued liabilities 783 (8,065)
Other current liabilities (8,015) 1,168
Contract liabilities - current and long-term (8,021) 34,183
Other liabilities 0 (12)
Net cash (used in) provided by operating activities (5,881) 19,965
Cash flows from investing activities:    
Purchase of property and equipment (7,287) (8,096)
Satellite work in process (23,892) (10,772)
Purchases of short-term investments (178,997) (56,953)
Proceeds from maturities of short-term investments 65,250 26,000
Net cash used in investing activities (144,926) (49,821)
Cash flows from financing activities:    
Proceeds from equity issuances, net of equity issuance costs 160,170 40,861
Proceeds from warrants exercised 123 0
Proceeds from options exercised and ESPP shares purchased 805 180
Repayments of debt 3,938 563
Payments for debt issuance costs 0 (175)
Withholding tax payments on vesting of restricted stock units (3,039) (1,086)
Payments for deferred offering costs 0 31
Net cash provided by financing activities 154,121 39,186
Net increase in cash, cash equivalents, and restricted cash 3,314 9,330
Cash, cash equivalents, and restricted cash – beginning of year 43,548 14,378
Cash, cash equivalents, and restricted cash – end of period 46,862 23,708
Supplemental Cash Flow Elements [Abstract]    
Cash and cash equivalents 36,897 22,555
Restricted cash 9,965 1,153
Total cash, cash equivalents, and restricted cash 46,862 23,708
Supplemental disclosures of cash flow information:    
Cash paid for interest 8,040 1,509
Cash paid for income taxes 0 20
Supplemental disclosures of non-cash financing and investing information:    
Vendor financed satellite launch costs 13,200 10,500
Interest capitalized but not yet paid 1,350 162
Accretion of short-term investments' discounts and premiums 1,531 872
Capitalized depreciation expense 710 574
Transfer of satellite work in process to mission solutions costs 596 0
Capitalized stock-based compensation 613 302
Equity issuance costs accrued but not yet paid 141 30
Adjustments to goodwill for changes in the preliminary purchase price allocation 0 19
Increase of debt principal for paid-in-kind interest 0 4,490
Deferred financing costs accrued but not yet paid 0 110
Property, Plant and Equipment    
Supplemental disclosures of non-cash financing and investing information:    
Additions of equipment and other satellite procurement costs accrued but not yet paid $ 4,009 $ 1,720