Balance Sheet Components (Tables)
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9 Months Ended |
Sep. 30, 2025 |
|---|
| Balance Sheet Components [Abstract] |
|
| Schedule of Other Current Assets |
Other current assets consisted of the following:
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September 30, |
|
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December 31, |
|
|
|
2025 |
|
|
2024 |
|
Technology and other prepaid contracts |
|
$ |
2,705 |
|
|
$ |
838 |
|
Other receivables |
|
|
1,953 |
|
|
|
648 |
|
Prepaid insurance |
|
|
1,219 |
|
|
|
1,076 |
|
Deferred contract costs |
|
|
140 |
|
|
|
297 |
|
Other |
|
|
507 |
|
|
|
419 |
|
Other current assets |
|
$ |
6,524 |
|
|
$ |
3,278 |
|
|
| Schedule of Property and Equipment, Net |
Property and equipment, net consisted of the following:
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|
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|
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September 30, |
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Satellites in-service |
|
$ |
25,672 |
|
|
$ |
32,768 |
|
Internally developed software |
|
|
2,377 |
|
|
|
1,760 |
|
Ground stations in-service |
|
|
4,988 |
|
|
|
4,978 |
|
Leasehold improvements |
|
|
6,084 |
|
|
|
5,707 |
|
Machinery and equipment |
|
|
6,545 |
|
|
|
5,479 |
|
Computer equipment |
|
|
1,485 |
|
|
|
1,327 |
|
Computer software and website development |
|
|
99 |
|
|
|
99 |
|
Furniture and fixtures |
|
|
1,528 |
|
|
|
1,335 |
|
|
|
|
48,778 |
|
|
|
53,453 |
|
Less: Accumulated depreciation and amortization |
|
|
(21,637 |
) |
|
|
(25,748 |
) |
|
|
|
27,141 |
|
|
|
27,705 |
|
Satellite, launch, and ground station work in progress |
|
|
37,322 |
|
|
|
27,624 |
|
Finished satellites not yet placed in-service |
|
|
10,798 |
|
|
|
8,009 |
|
Property and equipment, net |
|
$ |
75,261 |
|
|
$ |
63,338 |
|
|
| Schedule of Other Accrued expenses |
Other accrued expenses consisted of the following:
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|
|
|
|
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September 30, |
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Operating lease liabilities, current |
|
$ |
4,179 |
|
|
$ |
3,260 |
|
Professional services |
|
|
3,688 |
|
|
|
2,622 |
|
Accrued operating costs |
|
|
1,877 |
|
|
|
1,829 |
|
Accrued wages and benefits |
|
|
5,426 |
|
|
|
3,335 |
|
Accrued interest |
|
|
— |
|
|
|
1,709 |
|
Legal matters |
|
|
— |
|
|
|
1,479 |
|
Software |
|
|
898 |
|
|
|
792 |
|
Corporate and sales tax |
|
|
969 |
|
|
|
120 |
|
Other |
|
|
2,983 |
|
|
|
1,215 |
|
Other accrued expenses |
|
$ |
20,020 |
|
|
$ |
16,361 |
|
|
| Schedule of Accumulated Other Comprehensive Loss |
Accumulated other comprehensive (loss) income consisted of the following:
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Three Months Ended September 30, 2025 |
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|
Nine Months Ended September 30, 2025 |
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|
|
Foreign Currency Translation Adjustment |
|
|
Unrealized (Losses) Gains on Available-for-sale Debt Securities, net |
|
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Total |
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|
Foreign Currency Translation Adjustment |
|
|
Unrealized Gains (Losses) on Available-for-sale Debt Securities, net |
|
|
Total |
|
Beginning balance |
|
$ |
(5,000 |
) |
|
$ |
(3 |
) |
|
$ |
(5,003 |
) |
|
$ |
(9,770 |
) |
|
$ |
— |
|
|
$ |
(9,770 |
) |
Other comprehensive (loss) income before reclassifications |
|
|
(1,244 |
) |
|
|
31 |
|
|
|
(1,213 |
) |
|
|
(5,921 |
) |
|
|
28 |
|
|
|
(5,893 |
) |
Less: Amount of loss reclassified from AOCI |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9,447 |
|
|
|
— |
|
|
|
9,447 |
|
Net current period other comprehensive (loss) income |
|
|
(1,244 |
) |
|
|
31 |
|
|
|
(1,213 |
) |
|
|
3,526 |
|
|
|
28 |
|
|
|
3,554 |
|
Ending balance |
|
$ |
(6,244 |
) |
|
$ |
28 |
|
|
$ |
(6,216 |
) |
|
$ |
(6,244 |
) |
|
$ |
28 |
|
|
$ |
(6,216 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Three Months Ended September 30, 2024 |
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|
Nine Months Ended September 30, 2024 |
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|
Foreign Currency Translation Adjustment |
|
|
Unrealized (Losses) Gains on Available-for-sale Debt Securities, net |
|
|
Total |
|
|
Foreign Currency Translation Adjustment |
|
|
Unrealized Gains (Losses) on Available-for-sale Debt Securities, net |
|
|
Total |
|
Beginning balance |
|
$ |
(6,846 |
) |
|
$ |
(1 |
) |
|
$ |
(6,847 |
) |
|
$ |
(4,557 |
) |
|
$ |
1 |
|
|
$ |
(4,556 |
) |
Other comprehensive (loss) income before reclassifications |
|
|
(1,986 |
) |
|
|
4 |
|
|
|
(1,982 |
) |
|
|
(4,275 |
) |
|
|
2 |
|
|
|
(4,273 |
) |
Less: Amount of gain (loss) reclassified from AOCI |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net current period other comprehensive (loss) income |
|
|
(1,986 |
) |
|
|
4 |
|
|
|
(1,982 |
) |
|
|
(4,275 |
) |
|
|
2 |
|
|
|
(4,273 |
) |
Ending balance |
|
$ |
(8,832 |
) |
|
$ |
3 |
|
|
$ |
(8,829 |
) |
|
$ |
(8,832 |
) |
|
$ |
3 |
|
|
$ |
(8,829 |
) |
The components of accumulated other comprehensive loss, which are included in stockholders' equity, consist of foreign currency translation adjustments and unrealized gains on available-for-sale securities. During the nine months ended September
30, 2025, the Company reclassified $9,447 out of accumulated other comprehensive loss, with the entire amount recorded in gain on the sale of business within the condensed consolidated statements of operations.
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