Basis of Presentation and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2026

The following summarizes property and equipment - net as of:


	September 30,		December 31,
	2026		2025
	(in thousands)
Satellites	$	176,493	$	143,440
Software	51,120		46,245
Office furniture and fixtures	9,150		9,086
Software development in process	3,836		3,925
Production and engineering equipment	4,169		3,421
Site equipment	2,910		2,682
Computer equipment	2,046		1,705
Other equipment	1,116		999
	250,840		211,503
Less: accumulated depreciation	(146,945)		(132,466)

Property and equipment not yet placed in service	930		—
Property and equipment — net	$	104,825	$	79,037

EAC Adjustments

The following table presents the effect of aggregate net EAC adjustments on the Company's contracts:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026(1)		2025		2026(2)		2025
	(in thousands)
Revenue	$	(80)	$	758	$	1,570	$	(471)
Basic and diluted net income (loss) per share	$	0.00	$	0.02	$	0.04	$	(0.01)

(1) During the three months ended September 30, 2026, the Company recorded a favorable EAC adjustment of $1.2 million on a mission solutions program due to a decrease in total estimated costs on the project. The Company also recorded an unfavorable EAC adjustment of $1.5 million on an advanced technology program due to a contract modification that increased both the value of the contract at completion as well as the underlying costs. The remaining EAC adjustments are not individually significant to the Company.

(2) During the nine months ended September 30, 2026, the Company recorded favorable EAC adjustments of $3.0 million and $1.1 million on two mission solutions programs due to labor efficiencies and the retirement of risk. The Company also recorded an unfavorable EAC adjustment of $1.1 million on a mission solutions program due to an increase in estimated labor hours on the project. The remaining EAC adjustments are not individually significant to the Company.