Quarterly report [Sections 13 or 15(d)]

Other Balance Sheet Components

v3.26.3
Other Balance Sheet Components
 9 Months Ended
Sep. 30, 2026
Balance Sheet Related Disclosures [Abstract]  
Other Balance Sheet Components Other Balance Sheet Components
Other current assets consisted of the following (in thousands):
September 30,
2026		 December 31,
2025
Technology and other prepaid contracts $ 1,212  $ 1,618 
Other receivables 1,874  2,554 
Prepaid insurance 2  872 
Deferred contract costs 120  121 
Other 1,060  871 
Other current assets $ 4,268  $ 6,036 
Property and equipment, net consisted of the following (in thousands):
September 30,
2026		 December 31,
2025
Satellites in-service $ 50,176  $ 29,009 
Internally developed software 2,840  2,377 
Ground stations in-service 5,362  5,372 
Leasehold improvements 7,008  6,077 
Machinery and equipment 9,565  7,841 
Computer equipment 1,579  1,411 
Computer software and website development 99  99 
Furniture and fixtures 1,619  1,542 
78,248  53,728 
Less: Accumulated depreciation and amortization (32,906) (24,290)
45,342  29,438 
Satellite, launch, and ground station work in progress 29,655  30,692 
Finished satellites not yet placed in-service 12,568  20,676 
Property and equipment, net $ 87,565  $ 80,806 
Depreciation and amortization expense related to property and equipment was $3.5 million and $9.8 million for the three and nine months ended September 30, 2026, respectively. Depreciation and amortization expense related to property and equipment was $2.1 million and $8.3 million for the three and nine months ended September 30, 2025, respectively. The Company recorded $1.4 million and $6.3 million of losses on decommissioned satellites and other assets write-offs for the nine months ended September 30, 2026 and 2025, respectively. There were no losses on decommissioned satellites and other assets write-offs for each of the three months ended September 30, 2026 and 2025. Losses on decommissioned satellites and other assets write-offs are recorded in a separate line item within operating expenses on the condensed consolidated statement of operations. The loss for the nine months ended September 30, 2026 was primarily due to the deorbiting of two satellites and the Company’s decision to stop supporting one underperforming satellite. The loss for the nine months ended September 30, 2025 was primarily due to the Company’s decision to stop supporting three underperforming satellites and the deorbiting of three satellites. These satellites were written off at their net book value as no recoverable value was expected upon disposal.
Other accrued expenses consisted of the following (in thousands):
September 30,
2026		 December 31,
2025
Operating lease liabilities, current $ 2,678  $ 4,642 
Professional services 4,550  4,394 
Accrued operating costs 370  967 
Accrued wages and benefits 5,043  4,556 
Software 743  791 
Corporate and sales tax 300  1,281 
Termination fees —  3,335 
Other 2,948  2,300 
Other accrued expenses $ 16,632  $ 22,266 
Accumulated other comprehensive loss consisted of the following (in thousands):
Nine Months Ended September 30, 2026
Foreign Currency Translation Adjustments, Net of
Tax		 Net Unrealized Gain (Loss) on Investments, Net of Tax Total
Beginning balance $ (5,467) $ 32  $ (5,435)
Other comprehensive income (loss) before reclassifications 161  (83) 78 
Ending balance $ (5,306) $ (51) $ (5,357)
Nine Months Ended September 30, 2025
Foreign Currency Translation Adjustments, Net of Tax Net Unrealized Gain on Investments, Net of Tax Total
Beginning balance $ (9,770) $ —  $ (9,770)
Other comprehensive income before reclassifications 3,526  28  3,554 
Ending balance $ (6,244) $ 28  $ (6,216)
The components of accumulated other comprehensive loss, which are included in stockholders' equity, consist of foreign currency translation adjustments and unrealized gains (losses) on available-for-sale securities.