v3.26.3
Business Combinations, Asset Acquisitions, Transaction between Entities under Common Control, and Joint Venture Formation (Tables)
 9 Months Ended
Sep. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the acquisition date fair value of the business:
July 2, 2026
(In thousands)
Cash consideration$183,362 
Seller note172,789 
Seller transaction costs paid by the Company11,284 
Settlement of pre-existing relationships(15,212)
Total consideration transferred352,223 
Fair value of previously held 39.5% equity interest171,600 
Total acquisition date fair value$523,823 
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date:
July 2, 2026
Fair Value
(In thousands)
Cash$14,848 
Accounts Receivable, net25,212 
Prepaid expenses and other current assets8,507 
Property and equipment, net161,935 
Intangible assets, net285,100 
Other non-current assets43,665 
Accounts payable(3,709)
Accrued expenses and other current liabilities(11,295)
Short-term secured debt(19,688)
Deferred revenue(1,717)
Long-term secured debt(134,969)
Other long-term liabilities(11,238)
Total fair value of net assets acquired$356,651 
Goodwill$167,172 
Total purchase price$523,823 
Business Combination, Intangible Asset, Acquired, Finite-Lived
The following is a summary of preliminary identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:
TypeUseful lifeFair Value
(In thousands)
Customer relationships13 years$210,000 
Developed technology10 years69,600 
Trade name4 years5,500 
Total identifiable intangible assets acquired$285,100 
Business Combination, Pro Forma Information
Supplemental Pro Forma Information (Unaudited)
The following unaudited pro forma data summarizes the results of operations for the periods indicated as if the acquisition of Aireon had occurred on January 1, 2025.
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
(In thousands)(In thousands)
Revenue$245,733 $249,317 $733,779 $726,365 
Net income2,068 29,384 19,388 164,623 

The unaudited pro forma financial information includes adjustments to reflect incremental amortization of acquired identifiable intangible assets, incremental depreciation resulting from fair value adjustments to property and equipment, related income tax effects, the acquisition-date remeasurement of the previously held equity interest, acquisition-related transaction costs and the elimination of intercompany transactions. The pro forma financial information does not reflect potential synergies or integration costs and is not necessarily indicative of the results that would have occurred or of future results.