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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
During the three months ended June 30, 2026, we recognized revenue of $15.9 million, of which $0.8 million was recognized over time and $15.2 million was recognized at a point in time. During the three months ended June 30, 2025, we recognized revenue of $4.4 million, of which $0.9 million was recognized over time and $3.5 million was recognized at a point in time.
During the six months ended June 30, 2026, we recognized revenue of $22.0 million, of which $1.8 million was recognized over time and $20.2 million was recognized at a point in time. During the six months ended June 30, 2025, we recognized revenue of $7.8 million, of which $1.6 million was recognized over time and $6.2 million was recognized at a point in time.

In November 2021, the Company entered a 5-year noncancellable agreement with a technology company by which the customer receives $4.0 million in credits to purchase imagery each year. The Company recognizes revenue as images are delivered to the customer. The customer pays the Company in non-cash consideration in the form of a license to a proprietary software platform, which the Company uses in its internal operations. For the three months ended June 30, 2026 and 2025, we recognized $1.3 million and $1.2 million of revenue from this customer, respectively. For the six months ended June 30, 2026, and 2025, we recognized $2.3 million and $2.2 million of revenue from this customer, respectively.
Disaggregation of revenue

Information about our revenue by business line is as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue by business line
Data & Analytics including CaaS$7,108 $3,956 $11,752 $6,989 
Space Systems8,811 484 10,274 838 
Total revenue$15,919 $4,440 $22,026 $7,827 

Information about our revenue by timing is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue by timing
Over-time$769 $878 $1,849 $1,633 
Point-in-time15,150 3,562 20,177 6,194 
Total revenue$15,919 $4,440 $22,026 $7,827 
Information about our revenue by geography is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue by geography (1)
Americas$2,260 $3,545 $4,288 $6,126 
Europe9,187 480 10,311 934 
Asia Pacific892 315 3,351 484 
Middle East and North Africa3,580 100 4,076 283 
Total revenue$15,919 $4,440 $22,026 $7,827 
(1) Revenue by geography is based on the geographical location of the customer.

Contract Liabilities and Remaining Performance Obligations
Our contract liabilities consist of payments received from customers, or such consideration contractually due, in advance of providing the relevant satellite imagery or related service. Amounts included in Contract liabilities are as follows:
June 30,December 31,
20262025
Current$14,598 $10,609 
Non-current3,500 4,000 
Total$18,098 $14,609 
During the six months ended June 30, 2026, we recognized revenue of $8.9 million that was included as a contract liability as of December 31, 2025. During the six months ended June 30, 2025, we recognized revenue of $3.0 million that was included as a contract liability as of December 31, 2024. The increase in contract liabilities in the six months ended June 30, 2026 was primarily due to collections from new customers for performance obligations that will be satisfied during 2026. Total unused credits related to the non-cash agreement described above included in contract liabilities at June 30, 2026, and December 31, 2025 were $0.7 million and $1.1 million, respectively. Unused credits expire one year after issuance. There were no credits that expired in the six months ended June 30, 2026 or 2025.
A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. As discussed in Note 2 Summary of Significant Accounting Policies, the Company changed its disclosure methodology in 2025 to include contracts in its calculation of RPO that have an original duration of one year or less.

The following table represents the total transaction price for the remaining performance obligations as of June 30, 2026 related to non-cancellable contracts that is expected to be recognized over future periods.
Within 1 YearYears 1-2Years 2-3Thereafter
Remaining performance obligations$45,797 $9,299 $7,167 $18,405