NATURE OF BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	NATURE OF BUSINESS AND BASIS OF PRESENTATION HawkEye 360, Inc. (the “Company”), formed in the State of Delaware in 2015, is a trusted signals intelligence (“SIGINT”) partner of the United States and its allies, committed to advancing national interests through the use of its innovative technology. The Company’s mission is to provide actionable, trusted, and valuable signals intelligence to the U.S. Government and allied international customers. On May 8, 2026, the Company's common stock began trading on the New York Stock Exchange (the "NYSE") under the ticker "HAWK." The Company provides secure end-to-end signals solutions which are tightly integrated into the fabric of national security architectures. As a trusted signals intelligence partner to the U.S. Government and international allies, the Company is the first space-enabled defense technology company to disrupt electronic warfare at scale. The Company delivers shareable, battlefield-proven radio frequency (“RF”) intelligence that supports Warfighters during varied cycles of geopolitical volatility. The Company operates across the entire value chain from design and build, to data collection, to processing and analysis, delivering capabilities and insights to customers throughout our global allied defense landscape. The Company is disrupting the defense technology industry through its transformational strategy focused on new on-orbit capabilities, signal processing enhancements, and optimization of its artificial intelligence/machine learning (“AI/ML”) analytics algorithms using its expansive RF emitter database. The Company’s algorithms are designed, improved, and validated on over one billion data points from its proprietary signals archive, uniquely collected by its sensor network. With over 30 satellites on orbit and additional clusters in development, the Company maintains a robust global operational footprint and is committed to expanding its reach, improving its revisit rate and latency, and accelerating product delivery and capability expansion to its customers. The Company is a key provider to the U.S. Government of signal processing algorithms, customized hardware, and commercial SIGINT data and information. The Company operates across classified and unclassified data, leveraging relationships with the U.S. Department of War (the “DoW”) and the U.S. intelligence community and the international equivalents of its allies around the globe. The Company’s offerings span the SIGINT value chain, comprising hardware and software solutions, comprehensive training programs, embedded analysts for spectrum exploitation, and extensive data products. The Company’s offerings solve a breadth of mission requirements, including mission-critical defense and intelligence applications, humanitarian-oriented solutions, and sustainability-focused capabilities. In December 2025, the Company completed its acquisition of Innovative Signal Analysis, Inc. (“ISA”). This acquisition enhances the Company’s existing offerings by providing multi-domain, real-time automated hosted payloads, expanded ground processing, and highly trusted development support for the signals intelligence community. ISA expands the Company’s processing capabilities and signal database into classified data, strengthening our relationship with the U.S. Government and the U.S. intelligence community. This acquisition allows the Company to combine unclassified satellite collectors with highly trusted classified algorithms, unlocking a larger national security augmentation market. Additionally, unclassified ISA algorithms and expertise enhance the Company’s signal processing platform, allowing the Company to offer improved, automated capabilities to an expanded set of customers. Basis of presentation The condensed consolidated financial statements and accompanying notes are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to rules and regulations applicable to interim financial reporting. The condensed consolidated financial statements were prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, contain all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of its financial position, results of operations and cash flows for the periods indicated. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements included in our final prospectus, dated May 6, 2026, filed with the U.S. Securities and Exchange Commission (the "SEC") pursuant to Rule 424(b) under the Securities Act of 1933 in connection with our initial public offering ("IPO"). The information as of December 31, 2025, included on the condensed consolidated balance sheets was derived from the Company’s audited consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. Liquidity The condensed consolidated financial statements of the Company have been prepared on a going concern basis, which contemplates the realization of assets and the discharge of liabilities in the normal course of business. The Company held cash and cash equivalents of $503.4 million as of June 30, 2026, excluding restricted cash, compared to $92.7 million as of December 31, 2025. The Company maintains collateralized performance bonds in the form of letters of credit for international customers, reported as restricted cash on the condensed consolidated balance sheet. The Company has incurred an accumulated deficit totaling $170.1 million and $145.8 million as of June 30, 2026 and December 31, 2025, respectively. The Company generated positive cash flows from operating activities of $8.4 million as compared to a net use of cash of $2.9 million for the six months ended June 30, 2025. Initial Public Offering On May 8, 2026, the Company's common stock began trading on the New York Stock Exchange (the "NYSE") under the ticker "HAWK". The Company closed on its IPO resulting in the sale of 18.4 million shares of its common stock, inclusive of the exercise in full of the underwriters' option to purchase 2.4 million additional shares, at a public offering price of $26.00 per share, resulting in $478.4 million before deducting underwriting discounts and commissions and offering expenses. The Company received net proceeds of $437.5 million, net of $33.5 million of underwriting discounts and commissions and $7.4 million of offering costs. As of June 30, 2026, the Company accrued approximately $3.1 million in offering costs related to its IPO that had not yet been paid. These costs were recorded as a reduction of additional paid-in capital upon consummation of the offering. Since the amounts had not been paid in cash as of June 30, 2026, they are excluded from the statement of cash flows and are presented as a noncash financing activity. In connection with the closing of the IPO, all outstanding shares of the Company's preferred stock converted into 68,987,988 shares of common stock and all outstanding Preferred Stock Financing Warrants (as defined below) were automatically exercised into 3,719,010 shares of common stock. See Note 8 - Mezzanine Equity and S tock holders Equity /(Deficit). The proceeds from the IPO were used to repay $49.5 million of outstanding borrowings and associated fees pursuant to the 2025 Term Loan (as defined below) and the 2025 Mezzanine Loan (as defined below), and to fund a deferred payment of $7.5 million related to the acquisition of ISA, with the remaining balance being used for general corporate and working capital purposes. 2026 Credit Agreement On May 19, 2026, the Company entered into a new senior secured revolving credit agreement (the “2026 Credit Agreement”) with Bank of America, N.A. The 2026 Credit Agreement provides for a revolving credit facility in an aggregate principal amount of $125.0 million (the “Revolving Credit Facility”), maturing on May 19, 2031. As of June 30, 2026, no amounts were drawn on the Revolving Credit Facility. See Note 7 - Debt for further details.

HawkEye 360, Inc. (the “Company”), formed in the State of Delaware in 2015, is a trusted signals intelligence (“SIGINT”) partner of the United States and its allies, committed to advancing national interests through the use of its innovative technology. The Company’s mission is to provide actionable, trusted, and valuable signals intelligence to the U.S. Government and allied international customers. On May 8, 2026, the Company's common stock began trading on the New York Stock Exchange (the "NYSE") under the ticker "HAWK."

The Company provides secure end-to-end signals solutions which are tightly integrated into the fabric of national security architectures. As a trusted signals intelligence partner to the U.S. Government and international allies, the Company is the first space-enabled defense technology company to disrupt electronic warfare at scale. The Company delivers shareable, battlefield-proven radio frequency (“RF”) intelligence that supports Warfighters during varied cycles of geopolitical volatility. The Company operates across the entire value chain from design and build, to data collection, to processing and analysis, delivering capabilities and insights to customers throughout our global allied defense landscape.

The Company is disrupting the defense technology industry through its transformational strategy focused on new on-orbit capabilities, signal processing enhancements, and optimization of its artificial intelligence/machine learning (“AI/ML”) analytics algorithms using its expansive RF emitter database. The Company’s algorithms are designed, improved, and validated on over one billion data points from its proprietary signals archive, uniquely collected by its sensor network. With over 30 satellites on orbit and additional clusters in development, the Company maintains a robust global operational footprint and is committed to expanding its reach, improving its revisit rate and latency, and accelerating product delivery and capability expansion to its customers. The Company is a key provider to the U.S. Government of signal processing algorithms, customized hardware, and commercial SIGINT data and information. The Company operates across classified and unclassified data, leveraging relationships with the U.S. Department of War (the “DoW”) and the U.S. intelligence community and the international equivalents of its allies around the globe.

The Company’s offerings span the SIGINT value chain, comprising hardware and software solutions, comprehensive training programs, embedded analysts for spectrum exploitation, and extensive data products. The Company’s offerings solve a breadth of mission requirements, including mission-critical defense and intelligence applications, humanitarian-oriented solutions, and sustainability-focused capabilities.

In December 2025, the Company completed its acquisition of Innovative Signal Analysis, Inc. (“ISA”). This acquisition enhances the Company’s existing offerings by providing multi-domain, real-time automated hosted payloads, expanded ground processing, and highly trusted development support for the signals intelligence community. ISA expands the Company’s processing capabilities and signal database into classified data, strengthening our relationship with the U.S. Government and the U.S. intelligence community. This acquisition allows the Company to combine unclassified satellite collectors with highly trusted classified algorithms, unlocking a larger national security augmentation market. Additionally, unclassified ISA algorithms and expertise enhance the Company’s signal processing platform, allowing the Company to offer improved, automated capabilities to an expanded set of customers.

The condensed consolidated financial statements and accompanying notes are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting.

Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to rules and regulations applicable to interim financial reporting. The condensed consolidated financial statements were prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, contain all adjustments, consisting of normal recurring adjustments, necessary for a fair statement of its financial position, results of operations and cash flows for the periods indicated. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements

included in our final prospectus, dated May 6, 2026, filed with the U.S. Securities and Exchange Commission (the "SEC") pursuant to Rule 424(b) under the Securities Act of 1933 in connection with our initial public offering ("IPO"). The information as of December 31, 2025, included on the condensed consolidated balance sheets was derived from the Company’s audited consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation.

The condensed consolidated financial statements of the Company have been prepared on a going concern basis, which contemplates the realization of assets and the discharge of liabilities in the normal course of business. The Company held cash and cash equivalents of $503.4 million as of June 30, 2026, excluding restricted cash, compared to $92.7 million as of December 31, 2025. The Company maintains collateralized performance bonds in the form of letters of credit for international customers, reported as restricted cash on the condensed consolidated balance sheet.

The Company has incurred an accumulated deficit totaling $170.1 million and $145.8 million as of June 30, 2026 and December 31, 2025, respectively. The Company generated positive cash flows from operating activities of $8.4 million as compared to a net use of cash of $2.9 million for the six months ended June 30, 2025.

On May 8, 2026, the Company's common stock began trading on the New York Stock Exchange (the "NYSE") under the ticker "HAWK". The Company closed on its IPO resulting in the sale of 18.4 million shares of its common stock, inclusive of the exercise in full of the underwriters' option to purchase 2.4 million additional shares, at a public offering price of $26.00 per share, resulting in $478.4 million before deducting underwriting discounts and commissions and offering expenses. The Company received net proceeds of $437.5 million, net of $33.5 million of underwriting discounts and commissions and $7.4 million of offering costs. As of June 30, 2026, the Company accrued approximately $3.1 million in offering costs related to its IPO that had not yet been paid. These costs were recorded as a reduction of additional paid-in capital upon consummation of the offering. Since the amounts had not been paid in cash as of June 30, 2026, they are excluded from the statement of cash flows and are presented as a noncash financing activity.

In connection with the closing of the IPO, all outstanding shares of the Company's preferred stock converted into 68,987,988 shares of common stock and all outstanding Preferred Stock Financing Warrants (as defined below) were automatically exercised into 3,719,010 shares of common stock. See Note 8 - Mezzanine Equity and S tock holders Equity /(Deficit).

The proceeds from the IPO were used to repay $49.5 million of outstanding borrowings and associated fees pursuant to the 2025 Term Loan (as defined below) and the 2025 Mezzanine Loan (as defined below), and to fund a deferred payment of $7.5 million related to the acquisition of ISA, with the remaining balance being used for general corporate and working capital purposes.

On May 19, 2026, the Company entered into a new senior secured revolving credit agreement (the “2026 Credit Agreement”) with Bank of America, N.A. The 2026 Credit Agreement provides for a revolving credit facility in an aggregate principal amount of $125.0 million (the “Revolving Credit Facility”), maturing on May 19, 2031. As of June 30, 2026, no amounts were drawn on the Revolving Credit Facility. See Note 7 - Debt for further details.