Disaggregation of Revenue

9 Months Ended

Sep. 30, 2026

Disaggregation of Revenue [Abstract]

Disaggregation of Revenue

Disaggregation of Revenue

Disaggregation of Revenue

Revenue presented for the three and nine months ended September 30, 2026 represents revenue from continuing operations and excludes revenue from the Inpixon Business, which has been classified as discontinued operations. Revenue presented for the three and nine months ended September 30, 2025 relates entirely to the Inpixon Business and has been reclassified to discontinued operations in the accompanying unaudited condensed consolidated financial statements. Revenue is primarily generated in the United States.

Revenues arise substantially from the Company’s UAS offerings through the following channels (in thousands):

	Three Months Ended September 30, 2026		Nine Months Ended September 30, 2026
Wholesale	$	22,848	$	60,072
Direct Sales	7,934		23,518
Retail	4,532		11,869
Total revenue	$	35,314	$	95,459

Wholesale revenue represents sales through resellers and channel partners.

Direct sales revenue represents sales to enterprise, commercial, and governmental end customers, including public safety agencies, that utilize drones as part of their operations.

Retail revenue represents sales to consumers, including those transacted through the Company’s e-commerce platform, and revenues from the Company’s service center. Service center revenues are less than 10% of total retail sales.

Enterprise, commercial, and governmental customers may also purchase through the Company’s e-commerce platform; such transactions are classified as direct sales based on customer type.