v3.26.1
Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information    
The Company is organized as one operating segment, which is its reportable segment. Generally, its segment metrics are equal to the Company’s consolidated totals. The Company’s segment information is evaluated regularly by the Chief Executive Officer, who is the chief operating decision maker (“CODM”) for purposes of decisions on how to allocate resources and to assess performance. The Company determined its reportable segment using the management approach based on how the CODM evaluates the business. The CODM uses the Company’s net income (loss) to assess the performance of the Company’s operating segment and evaluates the Company’s results against forecasted results.

The Company’s operating segment derives its revenues from the sale of images via Data & Analytics and Constellation as a Service (“CaaS”) and the sale or licensing of satellites via the Company’s Space Systems business line. The Company evaluates its operations based on net income (loss). Required segment disclosures that are equal to the Company’s consolidated totals and disclosed elsewhere in the Condensed Consolidated Financial Statements include: net income (loss), total assets, total revenue, interest income, net, depreciation expense, equity in net income (loss) of affiliate accounted for by the equity method, and income tax expense. In addition to depreciation expense, other non-cash expenses include stock-based compensation disclosed in the Condensed Consolidated Statement of Cash Flows and a non-cash sales agreement described in Note 5 (Revenue from Contracts with Customers). Purchases of long lived assets include purchases of property and equipment disclosed in the Condensed Consolidated Statement of Cash Flows and the acquisition of new operating lease right of use assets for the six months ended June 30, 2026 and 2025 of $0.0 million and $6.5 million, respectively. Total non-current assets also includes an equity investment at fair value at June 30, 2026 and an equity-method investment at December 31, 2025 of $15.0 million and $3.8 million, respectively. Other segment items are primarily made up of the following items not considered to be significant expenses: depreciation expense, change in fair value of financial instruments, income tax expense, partially offset by foreign currency income adjustments and interest income, net.

Operations for the Company’s segment were as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue$15,919 $4,440 $22,026 $7,827 
Cost of revenue exclusive of depreciation(2,822)(1,189)(4,273)(2,426)
Engineering(3,074)(2,327)(6,154)(4,820)
Selling, general and administrative expenses(8,612)(5,361)(15,157)(11,846)
Other segment items(21,460)(2,215)(134,793)(27,968)
Net loss$(20,049)$(6,652)$(138,351)$(39,233)

Revenue by geographic area is as follows(a):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
U.S.$2,023 $3,359 $3,899 $5,920 
Rest of world13,896 1,081 18,127 1,907 
Total$15,919 $4,440 $22,026 $7,827 

(a) Revenues are attributed to individual countries based on the location of the customer generating the revenue.

For the three months ended June 30, 2026 and 2025, the rest of world had two and zero 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 and one countries, respectively, that generated 10% or more of the Company's total revenue.