During the three and nine months ended September 30, 2026 and 2025, the Company granted equity awards under the 2021 Equity Incentive Plan and the 2021 Employee Stock Purchase Plan. Stock-based compensation expense is included in the unaudited condensed consolidated statements of operations and comprehensive income (loss) as indicated in the table below:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
	(in thousands)
Space-based intelligence & AI services costs, excluding depreciation and amortization	$	143	$	40	$	334	$	112
Mission solutions costs, excluding depreciation and amortization	94		20		173		55
Advanced technology programs costs, excluding depreciation and amortization	58		112		212		311
Selling, general and administrative	4,410		3,482		12,403		9,527
Total stock-based compensation expense	$	4,705	$	3,654	$	13,122	$	10,005

The Company recorded stock-based compensation related to capitalized internal labor for software development activities and satellite work in process of $0.3 million and $0.2 million during the three months ended September 30, 2026 and 2025, respectively, and $0.9 million and $0.5 million during the nine months ended September 30, 2026 and 2025, respectively. These amounts were included in property, plant, and equipment - net and satellite work in process in the unaudited condensed consolidated balance sheets.