Quarterly report [Sections 13 or 15(d)]

Information on Segment Reporting - Summary of Segment Revenue and Significant Segment Expenses (Details)

v3.25.3
Information on Segment Reporting - Summary of Segment Revenue and Significant Segment Expenses (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting [Abstract]        
Revenue $ 19,182 $ 25,399 $ 43,058 $ 60,224
Employee expense [1] 24,561 18,955 44,857 37,089
Equipment and software expenses [2] 6,574 6,980 16,893 23,018
Depreciation and amortization 2,524 5,652 6,937 12,489
Professional services 4,508 2,268 13,380 4,703
Facilities expense [2] 1,097 1,017 2,146 1,988
Contactor expense 400 482 778 1,118
Other operating and marketing expenses 1,502 1,447 2,781 2,564
Loss on decommissioned satellites and disposal of assets 1,110 501 6,239 924
Allowance for current credit loss on notes receivable 0 40 0 81
Interest expense 1,686 4,772 7,416 9,825
Change in fair value of contingent liability and warrant liabilities 3,016 (1,052) (3,858) 3,195
Gain on sale of a business (154,305) 0 (154,305) 0
Loss on extinguishment of debt 12,008 0 12,008 0
Issuance of stock warrants 0 0 0 2,399
Other segment items [3] (5,089) 896 (8,289) 2,934
Segment net loss $ 119,590 $ (16,559) $ 96,075 $ (42,103)
[1] Employee expense included stock-based compensation expense of $6,222 and $11,127 for the three and six months ended June 30, 2025, respectively, and $4,795 and $8,423 for the three and six months ended June 30, 2024, respectively.
[2] In the second quarter of 2025, the Company reclassified certain expenses from Facilities expense to Equipment and software expenses within its segment reporting to better reflect the nature of the costs. Prior period amounts have been recast to conform to the current year period presentation. This reclassification impacted only the composition of the expense categories regularly provided to the Company’s CODM and had no impact on total segment expenses, the condensed consolidated statements of operations, or earnings (loss) per share.
[3] Other segment items included in segment net income (loss) include foreign exchange gain (loss), income tax provision, equity investment loss, income tax benefit, travel and meals expenses, and interest income.