Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Revenue $ 27,317 $ 20,418 $ 77,978 $ 57,883 [1]
Cost of revenue 9,555 10,198 29,548 29,617
Gross profit 17,762 10,220 48,430 28,266
Operating expenses:        
Research and development 10,538 8,879 29,953 25,761
Sales and marketing 6,993 7,794 20,572 21,427
General and administrative 11,049 9,903 33,718 33,861
Loss on decommissioned satellites 156 0 628 0
Total operating expenses 28,736 26,576 84,871 81,049
Loss from operations (10,974) (16,356) (36,441) (52,783)
Other income (expense):        
Interest income 540 336 1,741 456
Interest expense (4,728) (3,897) (14,015) (9,725)
Change in fair value of contingent earnout liability 13 344 217 9,597
Change in fair value of warrant liabilities 119 (1,282) (984) (11,014)
Foreign exchange (1,829) (2,806) (1,240) (6,346)
Loss on extinguishment of debt 0 (0) 0 (22,510)
Other expense, net (620) (660) (2,420) (1,165)
Total other expense, net (6,743) (5,401) (14,733) (18,679)
Loss before income taxes (17,717) (21,757) (51,174) (71,462)
Income tax provision (78) 54 560 406
Net loss $ (17,795) $ (21,811) $ (51,734) $ (71,868)
Net loss per share, Basic [2] $ (0.86) $ (1.25) $ (2.71) $ (4.12)
Net loss per share, Diluted [2] $ (0.86) $ (1.25) $ (2.71) $ (4.12)
Weighted Average Number of Shares Outstanding, Basic [2] 20,756,394 17,492,871 19,117,078 17,454,680
Weighted Average Number of Shares Outstanding, Diluted [2] 20,756,394 17,492,871 19,117,078 17,454,680
[1] The shares of the Company's common stock have been retroactively adjusted to reflect the 1-for-8 reverse stock split (Note 1).
[2] The shares of the Company's common stock and the per share amounts have been retroactively adjusted to reflect the 1-for-8 reverse stock split (Note 1).