Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations (Unaudited)

v3.25.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Revenue $ 23,876 $ 34,825
Cost of revenue 15,092 25,596
Gross profit 8,784 9,229
Operating expenses:    
Research and development 8,509 6,037
Sales and marketing 4,735 5,118
General and administrative 15,810 9,844
Loss on decommissioned satellites 5,160 178
Allowance for current expected credit loss on notes receivable 0 40
Total operating expenses 34,214 21,217
Loss from operations (25,430) (11,988)
Other income (expense):    
Interest income 20 454
Interest expense (5,730) (5,053)
Change in fair value of contingent earnout liability 1,038 (45)
Change in fair value of warrant liabilities 5,837 (4,202)
Issuance of stock warrants 0 (2,399)
Foreign exchange gain (loss) 3,826 (1,786)
Other expense, net (224) (534)
Total other income (expense), net 4,767 (13,565)
Loss before income taxes (20,663) (25,553)
Income tax benefit (6) (9)
Net loss $ (20,657) $ (25,544)
Net loss per share, Basic $ (0.77) $ (1.17)
Net loss per share, Diluted $ (0.77) $ (1.17)
Weighted-average shares used in computing basic net loss per share 26,787,097 21,813,045
Weighted-average shares used in computing diluted net loss per share 26,787,097 21,813,045