v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net loss $ (138,351) $ (39,233)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 2,537 4,535
Operating lease expense 1,009 821
Deferred tax expense (benefit) 1,897 0
Stock-based compensation 2,168 1,171
Change in fair value of financial instruments, net of interest paid on Secured Convertible Notes 131,200 21,003
Foreign exchange differences (173) (191)
Loss on disposal of property and equipment 311 168
Release of estimated credit losses on accounts receivable (34) (49)
Non-cash change in contract liabilities (337) (249)
Adjustment for proceeds on sale of in-orbit satellites (8,335) 0
Changes in operating assets and liabilities:    
Accounts receivable (1,350) 1,534
Inventories 726 0
Prepaid expenses and other current assets (4,081) 1,251
Accounts payable 815 (536)
Contract liabilities 4,114 746
Accrued expenses and other liabilities 373 513
Operating lease liabilities (961) (548)
Net cash used in operating activities (8,472) (9,064)
Cash flows from investing activities:    
Purchases of property and equipment (11,185) (2,689)
Proceeds from sale of in-orbit satellites 8,335 0
Net cash used in investing activities (2,850) (2,689)
Cash flows from financing activities:    
Payments for withholding taxes related to the net share settlement of equity awards (691) (653)
Proceeds from exercise of stock options 235 1,275
Net cash provided by financing activities 32,339 21,430
Net increase in cash, cash equivalents and restricted cash 21,017 9,677
Effect of foreign exchange rate changes on cash and cash equivalents 32 220
Cash, cash equivalents and restricted cash - beginning of period 102,092 23,682
Cash, cash equivalents and restricted cash - end of period 123,141 33,579
ATM Program    
Cash flows from financing activities:    
Proceeds from issuance stock 0 2,039
Registered Direct Offering    
Cash flows from financing activities:    
Proceeds from issuance stock $ 32,795 $ 18,769