v3.26.1
Information on Segment Reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule Of Segment Reporting Information By Segment

The following table includes segment revenue and significant segment expenses:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue

 

$

18,048

 

 

$

19,182

 

 

$

33,882

 

 

$

43,058

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Employee expense (a)

 

 

17,806

 

 

 

24,561

 

 

 

36,735

 

 

 

44,857

 

Equipment and software expenses (b)

 

 

5,278

 

 

 

6,574

 

 

 

10,184

 

 

 

16,893

 

Depreciation and amortization

 

 

4,063

 

 

 

2,524

 

 

 

7,081

 

 

 

6,937

 

Professional services

 

 

6,110

 

 

 

4,508

 

 

 

15,084

 

 

 

13,380

 

Facilities expense (b)

 

 

1,735

 

 

 

1,097

 

 

 

2,923

 

 

 

2,146

 

Contractor expense

 

 

727

 

 

 

400

 

 

 

1,289

 

 

 

778

 

Other operating and marketing expenses

 

 

1,198

 

 

 

1,502

 

 

 

2,489

 

 

 

2,781

 

Loss on decommissioned satellites and disposal of assets

 

 

744

 

 

 

1,110

 

 

 

1,653

 

 

 

6,239

 

Interest expense

 

 

—

 

 

 

1,686

 

 

 

—

 

 

 

7,416

 

Change in fair value of contingent liability and warrant liabilities

 

 

157

 

 

 

3,016

 

 

 

277

 

 

 

(3,858

)

Gain on sale of a business

 

 

—

 

 

 

(154,305

)

 

 

—

 

 

 

(154,305

)

Loss on extinguishment of debt

 

 

—

 

 

 

12,008

 

 

 

—

 

 

 

12,008

 

Other segment items (c)

 

 

199

 

 

 

(5,089

)

 

 

1,979

 

 

 

(8,289

)

Segment net (loss) income

 

$

(19,969

)

 

$

119,590

 

 

$

(45,812

)

 

$

96,075

 

(a) Employee expense included stock-based compensation expense of $3.0 million and $7.0 million for the three and six months ended June 30, 2026, respectively, and $6.2 million and $11.1 million for the three and six months ended June 30, 2025, respectively.

(b) In the second quarter of 2025, the Company reclassified certain expenses from Facilities expense to Equipment and software expenses within its segment reporting to better reflect the nature of the costs. Prior period amounts have been recast to conform to the current year period presentation. This reclassification impacted only the composition of the expense categories regularly provided to the Company’s CODM and had no impact on total segment expenses, the condensed consolidated statements of operations, or loss per share.

(c) Other segment items included in segment net (loss) income include foreign exchange (gain) loss, income tax (benefit) provision, equity investment loss, travel and meals expenses, and interest income.