Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Operations (Unaudited)

v3.26.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Income Statement [Abstract]        
Revenue $ 17,998 $ 12,670 $ 51,880 $ 55,728
Cost of revenue 9,699 8,027 31,118 32,997
Gross profit 8,299 4,643 20,762 22,731
Operating expenses:        
Research and development 8,578 9,116 25,457 27,970
Sales and marketing 4,156 2,816 10,507 12,759
General and administrative 15,730 13,762 47,996 48,598
Loss on decommissioned satellites and other assets write-offs 0 0 1,435 6,270
Total operating expenses 28,464 25,694 85,395 95,597
Loss from operations (20,165) (21,051) (64,633) (72,866)
Other (expense) income:        
Interest income 675 1,015 1,931 1,681
Interest expense (4) (2) (4) (7,418)
Gain on sale of a business 0 0 0 154,305
Loss on extinguishment of debt 0 0 0 (12,008)
Change in fair value of contingent earnout liability 0 617 0 1,428
Change in fair value of warrant liabilities 167 51 (110) 3,098
Foreign exchange (loss) gain (616) (17) (2,821) 10,774
Other income (expense), net (226) (291) (26) (802)
Total other income (expense), net (4) 1,373 (1,030) 151,058
(Loss) income before income taxes (20,169) (19,678) (65,663) 78,192
Income tax provision (benefit) 83 (2) 401 1,793
Net (loss) income $ (20,252) $ (19,676) $ (66,064) $ 76,399
(Loss) earnings per share:        
Basic (in dollars per share) $ (0.52) $ (0.61) $ (1.79) $ 2.52
Diluted (in dollars per share) $ (0.52) $ (0.61) $ (1.79) $ 2.31
Shares used in computing (loss) earnings per share:        
Basic (in shares) 39,167,991 32,501,417 36,932,506 30,249,828
Diluted (in shares) 39,167,991 32,501,417 36,932,506 31,410,136