Other Balance Sheet Components (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Balance Sheet Components [Abstract] |
|
| Schedule of Other Current Assets |
Other current assets consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Technology and other prepaid contracts |
|
$ |
1,618 |
|
|
$ |
838 |
|
Other receivables |
|
|
2,554 |
|
|
|
648 |
|
Prepaid insurance |
|
|
872 |
|
|
|
1,076 |
|
Deferred contract costs |
|
|
121 |
|
|
|
297 |
|
Other |
|
|
871 |
|
|
|
419 |
|
Other current assets |
|
$ |
6,036 |
|
|
$ |
3,278 |
|
|
| Schedule of Property and Equipment, Net |
Property and equipment, net consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Satellites in-service |
|
$ |
29,009 |
|
|
$ |
32,768 |
|
Internally developed software |
|
|
2,377 |
|
|
|
1,760 |
|
Ground stations in-service |
|
|
5,372 |
|
|
|
4,978 |
|
Leasehold improvements |
|
|
6,077 |
|
|
|
5,707 |
|
Machinery and equipment |
|
|
7,841 |
|
|
|
5,479 |
|
Computer equipment |
|
|
1,411 |
|
|
|
1,327 |
|
Computer software and website development |
|
|
99 |
|
|
|
99 |
|
Furniture and fixtures |
|
|
1,542 |
|
|
|
1,335 |
|
|
|
|
53,728 |
|
|
|
53,453 |
|
Less: Accumulated depreciation and amortization |
|
|
(24,290 |
) |
|
|
(25,748 |
) |
|
|
|
29,438 |
|
|
|
27,705 |
|
Satellite, launch, and ground station work in progress |
|
|
30,692 |
|
|
|
27,624 |
|
Finished satellites not yet placed in-service |
|
|
20,676 |
|
|
|
8,009 |
|
Property and equipment, net |
|
$ |
80,806 |
|
|
$ |
63,338 |
|
|
| Schedule of Other Accrued expenses |
Other accrued expenses consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
Operating lease liabilities, current |
|
$ |
4,642 |
|
|
$ |
3,260 |
|
Professional services |
|
|
4,394 |
|
|
|
2,622 |
|
Accrued operating costs |
|
|
967 |
|
|
|
1,829 |
|
Accrued wages and benefits |
|
|
4,556 |
|
|
|
3,335 |
|
Accrued interest |
|
|
— |
|
|
|
1,709 |
|
Legal matters |
|
|
— |
|
|
|
1,479 |
|
Software |
|
|
791 |
|
|
|
792 |
|
Corporate and sales tax |
|
|
1,281 |
|
|
|
120 |
|
Termination fees |
|
|
3,335 |
|
|
|
— |
|
Other |
|
|
2,300 |
|
|
|
1,215 |
|
Other accrued expenses |
|
$ |
22,266 |
|
|
$ |
16,361 |
|
|
| Schedule of Accumulated Other Comprehensive Loss |
Accumulated other comprehensive (loss) income consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2025 |
|
|
|
Foreign Currency Translation Adjustment |
|
|
Unrealized Gains on Available-for-sale Debt Securities, net |
|
|
Total |
|
Beginning balance |
|
$ |
(9,770 |
) |
|
$ |
— |
|
|
$ |
(9,770 |
) |
Other comprehensive (loss) income before reclassifications |
|
|
(5,144 |
) |
|
|
32 |
|
|
|
(5,112 |
) |
Less: Amount of gain reclassified from AOCI |
|
|
9,447 |
|
|
|
— |
|
|
|
9,447 |
|
Net current period other comprehensive income |
|
|
4,303 |
|
|
|
32 |
|
|
|
4,335 |
|
Ending balance |
|
$ |
(5,467 |
) |
|
$ |
32 |
|
|
$ |
(5,435 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2024 |
|
|
|
Foreign Currency Translation Adjustment |
|
|
Unrealized Gains (Losses) on Available-for-sale Debt Securities, net |
|
|
Total |
|
Beginning balance |
|
$ |
(4,557 |
) |
|
$ |
1 |
|
|
$ |
(4,556 |
) |
Other comprehensive loss before reclassifications |
|
|
(5,213 |
) |
|
|
(1 |
) |
|
|
(5,214 |
) |
Less: Amount of gain (loss) reclassified from AOCI |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net current period other comprehensive loss |
|
|
(5,213 |
) |
|
|
(1 |
) |
|
|
(5,214 |
) |
Ending balance |
|
$ |
(9,770 |
) |
|
$ |
— |
|
|
$ |
(9,770 |
) |
|