v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table presents the purchase consideration, acquisition related costs, and the preliminary estimated fair values of the assets acquired and liabilities assumed by the Company as of the acquisition date (in thousands):

January 13, 2026
Cash consideration $405,622 
Fair value of Class A Common Stock issued403,953 
Transaction bonuses and other adjustments43,689 
Purchase consideration$853,264 
Assets:
Cash and cash equivalents$2,242 
Restricted cash268 
Trade and other receivables97,152 
Contract assets23,144 
Inventory56,147 
Advances to suppliers17,125 
Prepaid and other current assets5,799 
Property and equipment
165,815 
Intangible assets297,000 
Operating lease right-of-use assets
32,174 
Orbital receivables, non-current223,366 
Total assets920,232 
Liabilities:
Accounts payable and accrued expenses
40,429 
Contract liabilities161,716 
Operating lease liabilities, current
17,986 
Other current liabilities
61,977 
Pension and other postretirement benefits, non-current
54,792 
Operating lease liabilities, non-current
40,578 
Other non-current liabilities
49,535 
Total liabilities427,013 
Noncontrolling interests415 
Fair value of net identifiable assets acquired492,804 
Goodwill$360,460 
The following table presents the purchase consideration and the preliminary estimated fair values of the assets acquired and liabilities assumed by the Company as of the acquisition date (in thousands):

October 1, 2025
Cash consideration $15,000 
Fair value of Class A Common Stock issued11,715 
Equity holdback in escrow3,500 
Transaction costs and other adjustments payable to the seller1,130 
Purchase consideration$31,345 
Assets:
Cash and cash equivalents$1,247 
Trade accounts receivable1,232 
Contract assets34 
Prepaid and other current assets306 
Property and equipment, net
134 
Intangible assets, net13,300 
Operating lease right-of-use assets
495 
Total assets16,748 
Liabilities:
Accounts payable and accrued expenses
232 
Operating lease liabilities, current
114 
Deferred tax liability, current
2,847 
Other current liabilities
584 
Operating lease liabilities, non-current
381 
Total liabilities4,159 
Fair value of net identifiable assets acquired12,589 
Goodwill$18,756 
Schedule of Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table summarizes the preliminary estimated fair values of intangible assets acquired by class and the related estimated lives (in thousands, except useful life in years):

Intangible AssetEstimated Life in YearsJanuary 13, 2026
Trademark / trade name1$5,000 
Customer relationships15138,000 
Developed technologies15154,000 
Total intangible assets$297,000 
The following table summarizes the preliminary estimated fair values of intangible assets acquired by class and the related estimated lives (in thousands, except useful life in years):

Intangible AssetEstimated Life in Years
October 1, 2025
Customer relationships10$1,900 
Developed technology1011,400 
Total intangible assets$13,300 
Schedule of Business Combination, Pro Forma Information
UnauditedUnaudited
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Total revenues$206,168 $203,433 $406,014 $421,589 
Net loss$(62,841)$(1,847)$(117,202)$(49,486)
Net income (loss) attributable to the Company$(46,445)$11,178 $(85,665)$(48,832)
Net income (loss) attributable to Class A common shareholders$(46,612)$11,027 $(85,994)$(49,130)