Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net Income (Loss) $ (25,843) $ (23,515)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,018 4,413
Stock-based compensation 3,963 4,905
Amortization of operating lease right-of-use assets 799 746
Change in fair value of warrant liabilities 120 (5,837)
Change in fair value of contingent earnout liability 0 (1,038)
Loss on decommissioned satellites and other assets write-offs 909 5,160
Other, net (521) 1,629
Changes in operating assets and liabilities:    
Accounts receivable, net (2,916) 2,584
Contract assets (258) (1,619)
Other current assets 66 (188)
Other long-term assets 103 451
Accounts payable 1,203 (3,819)
Contract liabilities (628) 1,958
Other accrued expenses (4,885) 6,328
Operating lease liabilities (1,341) (579)
Other long-term liabilities 0 (8)
Net cash used in operating activities (26,211) (8,429)
Cash flows from investing activities    
Maturities of short-term investments 23,972 0
Purchase of property and equipment (7,972) (8,901)
Net cash provided by (used in) investing activities 16,000 (8,901)
Cash flows from financing activities    
Proceeds from Securities Purchase Agreements, net 0 37,297
Proceeds from exercise of stock options 21 640
Net cash provided by financing activities 21 37,937
Effect of foreign currency translation on cash, cash equivalents and restricted cash 1,412 (3,828)
Net (decrease) increase in cash, cash equivalents and restricted cash (8,778) 16,779
Cash, cash equivalents and restricted cash    
Beginning balance 25,392 19,684
Ending balance 16,614 36,463
Supplemental disclosure of cash flow information    
Cash paid for interest 0 3,862
Income taxes paid 1,219 0
Non-cash operating, investing and financing activities    
Property and equipment purchased but not yet paid 4,041 964
Right-of-use assets obtained in exchange for lease liabilities $ 1,194 $ 378