Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (20,657) $ (25,544)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,413 6,837
Stock-based compensation 3,887 3,628
Amortization of operating lease right-of-use assets 746 809
Amortization of debt issuance costs 851 900
Change in fair value of warrant liabilities (5,837) 4,202
Change in fair value of contingent earnout liability (1,038) 45
Issuance of stock warrants 0 2,399
Loss on decommissioned satellites and disposal of assets 5,160 432
Other, net 778 228
Changes in operating assets and liabilities:    
Accounts receivable, net 2,584 (2,564)
Contract assets (1,619) (642)
Other current assets (188) 8,095
Other long-term assets 451 516
Accounts payable (3,819) (1,508)
Accrued wages and benefits 663 343
Contract liabilities 1,958 (7,157)
Other accrued expenses 3,825 1,003
Operating lease liabilities (579) (872)
Other long-term liabilities (8) 0
Net cash used in operating activities (8,429) (8,850)
Cash flows from investing activities    
Purchases of short-term investments 0 (10,920)
Maturities of short-term investments 0 10,800
Purchase of property and equipment (8,901) (7,059)
Net cash used in investing activities (8,901) (7,179)
Cash flows from financing activities    
Proceeds from Securities Purchase Agreement, net 37,297 37,881
Proceeds from exercise of stock options 640 267
Net cash provided by financing activities 37,937 38,148
Effect of foreign currency translation on cash, cash equivalents and restricted cash (3,828) 465
Net Increase in cash, cash equivalents and restricted cash 16,779 22,584
Cash, cash equivalents and restricted cash    
Beginning balance 19,684 29,633
Ending balance 36,463 52,217
Supplemental disclosure of cash flow information    
Cash paid for interest 3,862 3,983
Income taxes paid 0 15
Noncash operating, investing and financing activities    
Property and equipment purchased but not yet paid 964 2,135
Right-of-use assets obtained in exchange for lease liabilities $ 378 $ 353