v3.26.1
Segment Reporting
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company operates in one operating segment and one reportable segment, and as a result, manages its operations and allocates resources as a single operating segment, space infrastructure, which comprises all of its operations. The Company’s Chief Operating Decision Maker ("CODM") is its Chief Executive Officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. The CODM uses consolidated net income or loss that is also reported on the consolidated statements of operations and comprehensive income (loss) to evaluate the return on assets and determine strategic initiatives related to product development and new technologies to meet the growing demands of the Company’s unique customers. Consolidated net income (loss) is used to monitor budget versus actual results.
The measure of segment assets is reported on the unaudited condensed consolidated balance sheets as total assets. There are no other significant segment assets that would require disclosure or are regularly provided to the CODM. The Company has no intra-segment sales or transfers as it operates in one operating segment and one reportable segment. Information related to the geographical distribution of the Company’s revenues is disclosed in Note 2—Summary of Significant Accounting Policies.
At June 30, 2026 and December 31, 2025, $52.5 million and $40.4 million, respectively of the Company’s fixed assets, net are located in the United States. There were no other material tangible long-lived assets located outside of the U.S., individually or in the aggregate.
Significant expenses included within consolidated net loss have been assessed and disclosed in the table below:
For the three months ended June 30,For the six months ended June 30,
2026202520262025
Revenue$92,547 $83,839 $208,890 $190,091 
Less:
Direct materials53,240 63,555 129,538 134,505 
Selling, general and administrative expenses40,825 25,790 77,531 52,591 
Stock-based compensation expense10,893 — 95,589 — 
Research and development5,766 4,893 11,055 9,294 
Transaction costs6,009 75 11,934 106 
Interest expense2,884 7,118 5,783 14,177 
Interest income (4,208)(218)(8,828)(759)
Other expense (income), net(928)(1,201)5,279 (1,315)
Income tax expense (benefit)282 (2,697)172 (4,003)
Other segment items (a)17,127 10,758 35,022 21,458 
Net loss $(39,343)$(24,234)$(154,185)$(35,963)
(a)Other segment items is comprised of other costs of revenue excluding direct materials, including direct labor, overhead costs and depreciation and amortization