v3.26.1
BUSINESS ACQUISITION (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Recognized Asset Acquired and Liability Assumed
The table below sets forth the consideration paid, and the preliminary fair value of the assets acquired, and liabilities assumed at the acquisition date:
December 18,
2025
Assets acquired and liabilities assumed
Cash and cash equivalents$5,782
Contract accounts receivable2,056
Prepaid expenses and other current assets2,016
Inventory4,014
Account receivable—
Contract assets6,726
Other long-term assets215
Satellites, property and equipment6,314
Right-of-use assets - operating8,808
Intangibles35,600
Goodwill116,866
Total assets$188,397
Accounts payable1,263
Accrued expenses and other current liabilities3,825
Contract liabilities297
Current portion of operating lease liabilities537
Deferred tax liabilities7,710
Operating lease liabilities, net of current portion8,271
Total liabilities21,903
Total net assets $166,494
Schedule of Consideration Paid
The fair value of the working capital items, including accounts receivable, other current assets, accounts payable, accrued liabilities, and other current liabilities approximate their respective carrying values at the date of the acquisition.
December 18,
2025
Consideration paid
Cash$117,694
Fair value of Series E Preferred Shares(1)
25,000
Other consideration 23,800
Total consideration$166,494
The following tables shows revenue and earnings for ISA:
For the three months ended June 30, 2026For the six months ended June 30, 2026
Revenue$14,367 $29,326 
Net income (loss)
$(3,041)$(2,667)
Business Combination, Intangible Asset, Acquired, Finite-Lived
The following table summarizes the fair value of acquired identifiable intangible assets:
December 18,
2025
Trade name(2)
$2,200
Customer relationships(2)
Follow-on
10,800
Existing backlog
1,100
Developed technology(2)
21,500
Total acquired intangible assets$35,600
(1)As part of the Merger Agreement, the Company issued 1,325,316 shares of Series E preferred shares at $18.86 per share, all of which were converted at the IPO to common shares. See Note 8 – Mezzanine Equity and Stockholders' Equity for more details.
(2)The amortization period for the trade name, customer relationships follow-on, customer relationships existing backlog, and developed technology are four years, ten years, one year, and five years, respectively.
Schedule of Pro Forma Information The unaudited pro forma information presented below is for informational purposes only and is not necessarily indicative of the condensed consolidated results of operations of the combined business had the acquisition actually occurred at the beginning of 2024, or of the results of future operations of the combined business.
For the three months endedFor the six months ended
June 30, 2025June 30, 2025
Pro forma revenue$41,632$78,751
Pro forma net income (loss)$(885)$(1,308)