Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Revenue $ 25,688 $ 24,168
Cost of revenue 12,546 10,360
Gross profit 13,142 13,808
Operating expenses:    
Research and development 9,909 9,663
Sales and marketing 5,118 6,850
General and administrative 9,818 11,770
Loss on decommissioned satellites 178 0
Total operating expenses 25,023 28,283
Loss from operations (11,881) (14,475)
Other income (expense):    
Interest income 454 565
Interest expense (5,053) (4,578)
Change in fair value of contingent earnout liability (45) 76
Change in fair value of warrant liabilities (4,202) 746
Issuance of stock warrants (2,399) 0
Foreign exchange (loss) gain (1,538) 1,024
Other expense, net (551) (762)
Total other expense, net (13,334) (2,929)
Loss before income taxes (25,215) (17,404)
Income tax provision 41 269
Net loss $ (25,256) $ (17,673)
Net loss per share, Basic [1] $ (1.16) $ (0.98)
Net loss per share, Diluted [1] $ (1.16) $ (0.98)
Weighted Average Number of Shares Outstanding, Basic 21,813,045 18,096,363
Weighted Average Number of Shares Outstanding, Diluted 21,813,045 18,096,363
[1] The shares of the Company's common stock and the per share amounts for the three months ended March 31, 2023 have been retroactively adjusted to reflect the 1-for-8 reverse stock split (Note 1)