Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations

v3.26.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Income Statement [Abstract]    
Revenue $ 71,553 $ 110,451
Cost of revenue 42,390 70,576
Gross profit 29,163 39,875
Operating expenses:    
Research and development 36,672 29,237
Sales and marketing 15,334 22,696
General and administrative 64,009 49,744
Loss on decommissioned satellites and other assets write-offs 9,129 3,447
Allowance for current expected credit loss on notes receivable 0 4,026
Total operating expenses 125,144 109,150
Loss from operations (95,981) (69,275)
Other income (expense):    
Interest income 2,436 1,547
Interest expense (7,418) (20,358)
Gain on sale of a business 154,305 0
Loss on extinguishment of debt (12,008) 0
Change in fair value of contingent earnout liability 1,455 (1,235)
Change in fair value of warrant liabilities 3,193 (5,254)
Issuance of stock warrants 0 (2,399)
Foreign exchange gain (loss) 10,583 (4,314)
Other expense, net (1,649) (1,912)
Total other income (expense), net 150,897 (33,925)
Income (loss) before income taxes 54,916 (103,200)
Income tax provision 3,611 159
Net income (loss) $ 51,305 $ (103,359)
Income (loss) per share: Basic $ 1.66 $ (4.28)
Income (loss) per share: Diluted $ 1.49 $ (4.28)
Shares used in computing income (loss) per share: Basic 30,910,259 24,159,770
Shares used in computing income (loss) per share: Diluted 31,950,850 24,159,770