Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations (Unaudited)

v3.25.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]        
Revenue $ 25,399 $ 28,065 $ 60,224 $ 51,282
Cost of revenue 14,488 15,245 40,084 28,614
Gross profit 10,911 12,820 20,140 22,668
Operating expenses:        
Research and development 7,517 7,655 13,554 14,973
Sales and marketing 5,168 6,729 10,286 13,579
General and administrative 10,009 10,718 19,853 22,541
Loss on decommissioned satellites 529 472 707 472
Allowance for current expected credit loss on notes receivable 40 0 80 0
Total operating expenses 23,263 25,574 44,480 51,565
Loss from operations (12,352) (12,754) (24,340) (28,897)
Other income (expense):        
Interest income 571 636 1,025 1,201
Interest expense (4,773) (4,709) (9,826) (9,287)
Change in fair value of contingent earnout liability (1,187) 128 (1,232) 204
Change in fair value of warrant liabilities 2,239 357 (1,963) 1,103
Issuance of stock warrants 0 0 (2,399) 0
Gain (Loss), Foreign Currency Transaction, before Tax (513) (486) (2,299) 527
other (expense) income, net (477) (1,130) (1,011) (1,441)
Total other expense, net (4,140) (5,204) (17,705) (7,693)
Loss before income taxes (16,492) (17,958) (42,045) (36,590)
Income tax provision 67 414 58 437
Net loss $ (16,559) $ (18,372) $ (42,103) $ (37,027)
Net loss per share, Basic [1] $ (0.68) $ (0.99) $ (1.82) $ (2.03)
Net loss per share, Diluted [1] $ (0.68) $ (0.99) $ (1.82) $ (2.03)
Weighted-average shares used in computing basic net loss per share [1] 24,487,484 18,468,949 23,150,265 18,283,958
Weighted-average shares used in computing diluted net loss per share [1] 24,487,484 18,468,949 23,150,265 18,283,958
[1] The shares of the Company's common stock and the per share amounts for the three and six months ended June 30, 2023, have been retroactively adjusted to reflect the 1-for-8 reverse stock split (Note 1)