Quarterly report [Sections 13 or 15(d)]

Restatement of Quarterly Financial Information (Unaudited) - Unaudited Condensed Consolidated Statements of Operations (Parenthetical) (Details)

v3.25.0.1
Restatement of Quarterly Financial Information (Unaudited) - Unaudited Condensed Consolidated Statements of Operations (Parenthetical) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue $ 25,399 $ 28,065 $ 60,224 $ 51,282
Cost of revenue 14,488 15,245 40,084 28,614
Research and development 7,517 7,655 13,554 14,973
General and administrative 10,009 10,718 19,853 22,541
Gain (Loss), Foreign Currency Transaction, before Tax (513) (486) (2,299) 527
other (expense) income, net (477) (1,130) (1,011) (1,441)
Income tax provision $ 67 414 $ 58 437
Restatement Adjustment [Member]        
General and administrative   181    
Scenario, Adjustment [Member]        
Revenue [1]   1,572   621
Cost of revenue [2]   5,612   8,621
Payments to Acquire Productive Assets   3,456   4,100
Research and development [3]   (2,097)   (4,442)
General and administrative   (181)   (128)
Gain (Loss), Foreign Currency Transaction, before Tax [4]   (51)   (62)
other (expense) income, net [5]   (92)   359
Income tax provision [6]   201   (45)
Scenario, Adjustment [Member] | Restatement Adjustment [Member]        
General and administrative       128
other (expense) income, net       359
Scenario, Adjustment [Member] | Delaware Franchise Tax [Member]        
Cost of revenue   59   79
General and administrative   30   408
other (expense) income, net   92    
Scenario, Adjustment [Member] | Research and Development        
General and administrative   59   79
Scenario Restated [Member]        
Revenue [1]   28,065   51,282
Cost of revenue [2]   15,245   28,614
Research and development [3]   7,655   14,973
General and administrative   10,718   22,541
Gain (Loss), Foreign Currency Transaction, before Tax [4]   (486)   527
other (expense) income, net [5]   (1,130)   (1,441)
Income tax provision [6]   $ 414   $ 437
[1] The $1,572 and $621 increases in revenue for the three months and six months ended June 30, 2023, respectively, are related to the correction of revenue recognition for Space Services and R&D Services Contracts.
[2] The $5,612 increase in cost of revenue for the three months ended June 30, 2023 resulted from an increase of $3,456 from construction costs for customer-controlled satellites for one specific contract being expensed to cost of revenue rather than capitalized into property and equipment, an increase of $2,097 from costs associated with R&D Services Contracts being reclassified from research and development expense to cost of revenue a, and an increase of $59 from the reclassification of supply chain department costs from general and administrative expense to cost of revenue.
b.
The $8,621 increase in cost of revenue for the six months ended June 30, 2023 resulted from an increase of $4,442 from costs associated with R&D Services Contracts being reclassified from research and development to cost of revenue, an increase of $4,100 from construction costs for customer-controlled satellites for one specific contract being expensed to cost of revenue rather than capitalized into property and equipment, and an increase of $79 from the reclassification of supply chain department costs from general and administrative expense to cost of revenue.
[3] The $2,097 and $4,442 decreases in research and development expense for the three months and six months ended June 30, 2023, respectively, are related to costs associated with R&D Services Contracts being reclassified from research and development expense to cost of revenue.
[4] The $51 and $62 decreases in foreign exchange losses for the three months and six months ended June 30, 2023, respectively, are related to the correction of revenue and cash remeasurement adjustment.
[5] The $92 and $359 change in other (expense) income, net for the three months and six months ended June 30, 2023, respectively, is related to the reclassification of other state taxes to general and administrative expense.
[6] The $201 increase and $45 decrease in income tax provisions for the three months and six months ended June 30, 2023, respectively, are related to the impact to income tax provision as a result of the revenue adjustments.