v3.26.3
Revenue
 9 Months Ended
Sep. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenue
5. Revenue
Disaggregation of Revenue
The Company generates revenue from the sale of space-based intelligence & AI services, mission solutions, and advanced technology programs, primarily to domestic and international government agencies. The
approximate revenue based on the geographic location of end customers was as follows 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
(in thousands)
United States
$
21,585 
$
10,108 
$
42,658 
$
35,649 
Rest of world
21,259 
9,510 
54,276 
35,712 
Total revenue
$
42,844 
$
19,618 
$
96,934 
$
71,361 
The Company has a concentration of contractual revenue arrangements with the U.S. federal government and agencies as well as with international governments. For the three months ended September 30, 2026 and 2025, the rest of world had two and one countries, respectively, that generated 10% or more of the Company's total revenue. For the nine months ended September 30, 2026 and 2025, the rest of world had two countries that generated 10% or more of the Company's total revenue.
For the three and nine months ended September 30, 2026 and 2025, the Company had the following customers whose revenue balances individually represented 10% or more of the Company’s total revenue:
Revenue
Three Months Ended September 30,
Nine Months Ended September 30,
Customer
Geographic Area(1)
2026
2025
2026
2025
U.S. federal government and agencies
United States
50%
51%
43%
49%
Customer B
Rest of world
11%
23%
14%
19%
Customer C
Rest of world
16%
*
14%
*
Customer D
Rest of world
*
*
*
16%
Customer E
Rest of world
*
12%
*
*
* Revenue from these customers was less than 10% of total revenue during the period.
(1) Each customer whose revenue balance individually represented 10% or more of the Company’s total revenue relates to a unique country.
As of September 30, 2026 and December 31, 2025, the Company had the following customers whose accounts receivable balances individually represented 10% or more of the Company’s total accounts receivable:
Accounts Receivable
As of September 30,
As of December 31,
Customer
Geographic Area(1)
2026
2025
U.S. federal government and agencies
United States
*
*
Customer C
Rest of world
54%
*
Customer D
Rest of world
*
28%
Customer E
Rest of World
10%
11%
Customer F
Rest of world
16%
50%
* Accounts receivable from these customers were less than 10% of total accounts receivable at the end of the period.
(1) Each customer whose accounts receivable balance individually represented 10% or more of the Company’s total accounts receivable relates to a unique country.
Revenue from categories of end customers for the three and nine months ended September 30, 2026 and 2025 was as follows:
Three Months Ended September 30,
Nine Months Ended September 30,
2026
2025
2026
2025
(in thousands)
U.S. federal government and agencies
$
21,293 
$
9,998 
$
41,888 
$
35,181 
International governments
21,034 
8,976 
53,374 
34,030 
Commercial and other
517 
644 
1,672 
2,150 
Total revenue
$
42,844 
$
19,618 
$
96,934 
$
71,361