Quarterly report [Sections 13 or 15(d)]

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

v3.25.0.1
Restatement of Quarterly Financial Information (Unaudited) - Unaudited Condensed Consolidated Statements of Cash Flows (Parenthetical) (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Other, net $ 148 $ 273
Change in contract assets (712) 1,307
Other current assets (7,656) 1,654
Change in contract liabilities (6,161) 4,648
Other accrued expenses 275 359
Purchase of property and equipment (12,585) (6,653)
Cash, cash equivalents and restricted cash - Ending balance $ 24,016 43,568
Restatement Adjustments    
Other, net [1]   (8)
Change in contract assets [2]   199
Other current assets [3]   (1,917)
Advances to Affiliate   643
Change in contract liabilities [4]   (819)
Other accrued expenses [5]   (407)
Purchase of property and equipment [6]   (6,024)
Cash, cash equivalents and restricted cash - Ending balance   (59)
Restatement Adjustments | Property, Plant and Equipment [Member]    
Prepaid Launch Cost   1,275
Costs Incurred   4,101
Restatement Adjustments | other current assets    
Prepaid Launch Cost   1,274
Restatement Adjustments | Space Services and R&D Services Contracts [Member]    
Change in contract liabilities   819
Restatement Adjustments | Delaware Franchise Tax [Member]    
Other accrued expenses   407
As Restated    
Other, net [1]   (273)
Change in contract assets [2]   (1,307)
Other current assets [3]   (1,654)
Change in contract liabilities [4]   4,648
Other accrued expenses [5]   359
Purchase of property and equipment [6]   (6,653)
Cash, cash equivalents and restricted cash - Ending balance   $ 43,568
[1] The $8 adjustment to change in other, net for the six months ended June 30, 2023 represents the change in deferred income tax liabilities related to the impact to income tax provision as a result of the revenue adjustments.
[2] The $199 adjustment to change in contract assets for the six months ended June 30, 2023 is related to the impact to short-term and long-term balances of contract assets from the correction of revenue recognition for Space Services and R&D Services Contracts.
[3] The $1,917 adjustment to other current assets for the six months ended June 30, 2023 resulted from an increase of $1,274 in prepaid launch costs for customer-controlled satellites for one specific contract that is capitalized into other current assets instead of property and equipment, and an increase of $643 from the net change in advances for fixed assets balance reclassified out of other current assets into property and equipment.
[4] The $819 adjustment to change in contract liabilities for the six months ended June 30, 2023 is related to the impact in contract liabilities from the correction of revenue recognition for Space Services and R&D Services Contracts.
[5] The $407 adjustment to change in other accrued expense for the six months ended June 30, 2023 is related to the Delaware franchise tax accrual
[6] The $6,024 decrease in purchase of property and equipment for the six months ended June 30, 2023 resulted from a decrease of $4,101 in costs incurred to build the customer-controlled satellites for one specific contract being expensed rather than capitalized into the Company's property and equipment, a decrease of $1,275 from prepaid launch costs for the customer-controlled satellites for one specific contract being reclassified into other current assets rather than capitalized into the Company's property and equipment, and a decrease of $648 from noncash addition to property and equipment from the prior period advances that were incorrectly reflected as current period’s cash purchase.