Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations

v3.25.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenue $ 12,670 $ 28,568 $ 55,728 $ 88,792
Cost of revenue 8,027 15,843 32,997 55,927
Gross profit 4,643 12,725 22,731 32,865
Operating expenses:        
Research and development 9,116 5,631 27,970 19,185
Sales and marketing 2,816 5,655 12,759 15,941
General and administrative 13,762 12,303 48,598 32,156
Loss on decommissioned satellites 0 246 6,270 953
Allowance for current expected credit loss on notes receivable 0 2,609 0 2,689
Total operating expenses 25,694 26,444 95,597 70,924
Loss from operations (21,051) (13,719) (72,866) (38,059)
Other income (expense):        
Interest income 1,015 407 1,681 1,432
Interest expense (2) (4,828) (7,418) (14,654)
Gain on sale of a business 0 0 154,305 0
Loss on extinguishment of debt 0 0 (12,008) 0
Change in fair value of contingent earnout liability 617 515 1,428 (717)
Change in fair value of warrant liabilities 51 854 3,098 (1,109)
Issuance of stock warrants 0 0 0 (2,399)
Foreign exchange (loss) gain (17) 4,872 10,774 2,573
Other expense, net (291) (530) (802) (1,541)
Total other income (expense), net 1,373 1,290 151,058 (16,415)
(Loss) income before income taxes (19,678) (12,429) 78,192 (54,474)
Income tax (benefit) provision (2) 44 1,793 102
Net (loss) income $ (19,676) $ (12,473) $ 76,399 $ (54,576)
(Loss) income per share: Basic $ (0.61) $ (0.5) $ 2.52 $ (2.3)
(Loss) income per share: Diluted $ (0.61) $ (0.5) $ 2.31 $ (2.3)
Weighted-average shares used in computing basic (loss) income per share 32,501,417 24,921,585 30,249,828 23,745,015
Weighted-average shares used in computing diluted (loss) income per share 32,501,417 24,921,585 31,410,136 23,745,015