v3.26.3
Segment Reporting
 9 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
Segment Reporting
4. Segment Information
The Company’s Chief Operating Decision Maker (“CODM”) as defined under GAAP, who is the Company’s Chief Executive Officer, has determined the allocation of resources and assessed performance based upon the consolidated results of the Company. The CODM has utilized consolidated net income (loss) to assess financial performance and allocate resources. Accordingly, for the three and nine months ended September 30, 2026 and 2025, the Company was deemed to be comprised of only one operating segment and one reportable segment. This segment, which comprised the continuing operations of the Company’s single operating and reportable segment, provided space-based intelligence products and services through three integrated revenue streams—space-based intelligence & AI services, mission solutions, and advanced technology programs—along with related costs, primarily consisting of cloud computing and hosting services, direct materials to build and test specific components, and internal labor for service solutions that enhance customer adoption and operational integration of the Company's technology.
The following table presents selected financial information with respect to the Company’s single reportable segment for the three and nine months ended September 30, 2026 and 2025:
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
Revenue
Space-based intelligence & AI services
$
32,740 
$
15,782 
$
73,766 
$
50,593 
Mission solutions
4,725 
859 
11,845 
11,752 
Advanced technology programs
5,379 
2,977 
11,323 
9,016 
Total revenue
42,844 
19,618 
96,934 
71,361 
Costs and expenses
Space-based intelligence & AI services direct labor costs
1,767 
748 
5,446 
1,976 
Space-based intelligence & AI services direct materials costs
3,174 
3,581 
9,814 
9,631 
Mission solutions direct labor costs
1,414 
222 
3,092 
808 
Mission solutions direct materials costs
(73)
6 
1,066 
6,651 
Advanced technology programs direct labor costs
2,305 
2,039 
5,169 
5,846 
Advanced technology programs direct materials costs
491 
219 
872 
750 
Salaries and benefit costs
12,727 
10,688 
36,005 
34,203 
Stock-based compensation expense(1)
4,410 
3,482 
12,403 
9,527 
Other segment items(2)
8,716 
7,595 
24,246 
22,406 
Depreciation and amortization
7,508 
7,864 
24,752 
22,308 
(Gain) loss on derivatives
(19,690)
(8,386)
(956)
14,148 
Loss on debt extinguishment
— 
4,140 
— 
4,140 
Interest income
(2,052)
(1,324)
(4,424)
(2,574)
Interest expense
3,622 
4,037 
11,419 
10,889 
Other expense (income), net
10 
8 
12 
(60)
Income tax expense
— 
39 
— 
104 
Net income (loss)
$
18,515 
$
(15,340)
$
(31,982)
$
(69,392)
(1) Relates to stock-based compensation expense within selling, general, and administrative costs.
(2) Other segment items included in net income (loss) primarily includes selling, general, and administrative costs and research and development costs.
As of September 30, 2026 and 2025, the Company's segment assets, which are equal to the Company's consolidated assets on the unaudited condensed consolidated balance sheets, were owned and operated by United States entities and classified within the United States. See Note 5—“Revenue” for additional information about revenue by geographic region.