Balance Sheet Components (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Balance Sheet Components [Abstract] |
|
| Schedule of Other Current Assets |
Other current assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Technology and other prepaid contracts |
|
$ |
1,123 |
|
|
$ |
1,618 |
|
Other receivables |
|
|
4,442 |
|
|
|
2,554 |
|
Prepaid insurance |
|
|
181 |
|
|
|
872 |
|
Deferred contract costs |
|
|
131 |
|
|
|
121 |
|
Other |
|
|
1,214 |
|
|
|
871 |
|
Other current assets |
|
$ |
7,091 |
|
|
$ |
6,036 |
|
|
| Schedule of Property and Equipment, Net |
Property and equipment, net consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Satellites in-service |
|
$ |
40,013 |
|
|
$ |
29,009 |
|
Internally developed software |
|
|
2,839 |
|
|
|
2,377 |
|
Ground stations in-service |
|
|
5,348 |
|
|
|
5,372 |
|
Leasehold improvements |
|
|
6,964 |
|
|
|
6,077 |
|
Machinery and equipment |
|
|
9,143 |
|
|
|
7,841 |
|
Computer equipment |
|
|
1,512 |
|
|
|
1,411 |
|
Computer software and website development |
|
|
99 |
|
|
|
99 |
|
Furniture and fixtures |
|
|
1,619 |
|
|
|
1,542 |
|
|
|
|
67,537 |
|
|
|
53,728 |
|
Less: Accumulated depreciation and amortization |
|
|
(29,674 |
) |
|
|
(24,290 |
) |
|
|
|
37,863 |
|
|
|
29,438 |
|
Satellite, launch, and ground station work in progress |
|
|
27,892 |
|
|
|
30,692 |
|
Finished satellites not yet placed in-service |
|
|
19,305 |
|
|
|
20,676 |
|
Property and equipment, net |
|
$ |
85,060 |
|
|
$ |
80,806 |
|
|
| Schedule of Other Accrued expenses |
Other accrued expenses consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Operating lease liabilities, current |
|
$ |
2,897 |
|
|
$ |
4,642 |
|
Professional services |
|
|
2,022 |
|
|
|
4,394 |
|
Accrued operating costs |
|
|
693 |
|
|
|
967 |
|
Accrued wages and benefits |
|
|
3,867 |
|
|
|
4,556 |
|
Software |
|
|
862 |
|
|
|
791 |
|
Corporate and sales tax |
|
|
268 |
|
|
|
1,281 |
|
Termination fees |
|
|
— |
|
|
|
3,335 |
|
Other |
|
|
3,039 |
|
|
|
2,300 |
|
Other accrued expenses |
|
$ |
13,648 |
|
|
$ |
22,266 |
|
|
| Schedule of Accumulated Other Comprehensive Loss |
Accumulated other comprehensive loss consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2026 |
|
|
|
Foreign Currency Translation Adjustments, Net of Tax |
|
|
Net Unrealized Loss on Investments, Net of Tax |
|
|
Total |
|
Beginning balance |
|
$ |
(5,467 |
) |
|
$ |
32 |
|
|
$ |
(5,435 |
) |
Other comprehensive loss before reclassifications |
|
|
(154 |
) |
|
|
(71 |
) |
|
|
(225 |
) |
Ending balance |
|
$ |
(5,621 |
) |
|
$ |
(39 |
) |
|
$ |
(5,660 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2025 |
|
|
|
Foreign Currency Translation Adjustments, Net of Tax |
|
|
Net Unrealized Loss on Investments, Net of Tax |
|
|
Total |
|
Beginning balance |
|
$ |
(9,770 |
) |
|
$ |
— |
|
|
$ |
(9,770 |
) |
Other comprehensive income (loss) before reclassifications |
|
|
4,770 |
|
|
|
(3 |
) |
|
|
4,767 |
|
Ending balance |
|
$ |
(5,000 |
) |
|
$ |
(3 |
) |
|
$ |
(5,003 |
) |
|