
dollars in thousands	As of June 30, 2026		As of December 31, 2025
Trade accounts receivable	$	15,369	$	835
Contract assets	3,865		2,250
Unbilled receivable	1,106		—
Foreign tax receivable	161		105
Total accounts receivable	$	20,501	$	3,190

Substantially all accounts receivable as of June 30, 2026 are expected to be collected in the next twelve months. The Company does not believe it has significant exposure to credit risk, as accounts receivable and the contract assets amounts are primarily from contracts associated with the U.S. Government. Unbilled receivable consists of earned revenue that has not yet been billed on the Company’s contracts. Foreign tax receivable consists primarily of value-added taxes charged by the Spanish government. Refer to “Note 2 – Summary of Significant Accounting Policies” for further discussion on Contract assets.