Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.24.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Summary of cash, cash equivalents, and restricted cash

The following table shows components of cash, cash equivalents, and restricted cash reported on the consolidated balance sheets and in the consolidated statements of cash flows as of and for the years then ended:

 

 

 

December 31,

 

 

2023

 

 

2022

 

Cash and cash equivalents

 

$

29,144

 

 

$

47,196

 

Restricted cash included in Other long-term assets

 

 

497

 

 

 

373

 

 

$

29,641

 

 

$

47,569

 
Summary of customers whose revenue and accounts receivable balances

The following customers represented 10% or more of the Company’s total revenue:

 

 

 

Years Ended December 31,

 

 

2023

 

 

2022

 

Customer A

 

*

 

 

 

11

%

Customer B(1)

 

 

26

%

 

 

19

%

* Revenue from this customer was less than 10% of total revenue during the year.

(1) Consists of multiple U.S. government agencies, of which only one government agency represented greater than 10% of total revenue for the years ended December 31, 2023 and 2022.
Schedule of estimated useful lives of depreciable assets

Depreciation and amortization are computed utilizing the straight-line method over the estimated useful lives of depreciable assets in the table below. Leasehold improvements are amortized using the straight-line method over the lesser of the life of the asset or the remaining life of the lease.

 

 

Years

Furniture and fixtures

 

7

Machinery and equipment

 

5

In-service ground stations

 

3-10

Computer software and website development

 

3

Computer equipment

 

3

Capitalized satellite launch costs and in-service satellites

 

3-4
Schedule of long-lived assets by geography

The following table summarizes the Company's long-lived assets by geography:

 

 

 

December 31,

 

 

 

2023

 

 

2022

 

EMEA(1)

 

 

57

%

 

 

39

%

Americas (2)

 

 

43

%

 

 

61

%

Total

 

 

100

%

 

 

100

%
(1)
United Kingdom represented 28%, Germany represented 19% and Luxemburg represented 10% for the year ended December 31, 2023 and United Kingdom represented 30% for the year ended December 31, 2022.
(2)
U.S. represented 25% and 34% and Canada represented 18% and 27% for the years ended December 31, 2023 and 2022, respectively.