Revenue

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

4. Revenue

Disaggregation of Revenue

The Company earns revenue through the sale of imagery and software analytical services and professional and engineering services. The Company’s management primarily disaggregates revenue as follows: (i) imagery; (ii) data, software and analytics; (iii) engineering services; and (iv) professional services. This disaggregation allows the Company to evaluate market trends in certain imagery and software analytical services and professional and engineering services. These offerings currently have both recurring and non-recurring price attributes, particularly the professional and engineering services offerings.

The following table disaggregates revenue by type for the three months ended March 31, 2023 and 2022:

	Three months ended March 31,
	2023		2022
	(in thousands)
Imagery	$	12,912	$	3,610
Data, software and analytics	2,848		3,760
Engineering services	9		4,124
Professional services	2,628		2,402
Total revenue	$	18,397	$	13,896

The approximate revenue based on geographic location of customers is as follows for the three months ended March 31, 2023 and 2022:

	Three months ended March 31,
	2023		2022
	(in thousands)
North America	$	14,019	$	11,147
Middle East	1,525		594
Asia	2,625		1,994
Other	228		161
Total revenue	$	18,397	$	13,896

Revenue from significant customers for the three months ended March 31, 2023 and 2022 is as follows:

	Three months ended March 31,
	2023		2022
	(in thousands)
U.S. federal government and agencies	$	13,670	$	11,063
International governments	4,383		2,745
Commercial and other	344		88
Total revenue	$	18,397	$	13,896

As of March 31, 2023 and December 31, 2022, accounts receivable consisted of the following:

	March 31,		December 31,
	2023		2022
	(in thousands)
U.S. federal government and agencies	$	8,692	$	2,540
International government	187		261
Commercial and other	180		311
Total accounts receivable	$	9,059	$	3,112

Backlog

Backlog represents the future sales the Company expects to recognize on firm orders it receives and is equivalent to the Company’s remaining performance obligations at the end of each period. It comprises both funded backlog (firm orders for which funding is authorized and appropriated) and unfunded backlog. The

Company's backlog excludes unexercised contract options. As of March 31, 2023, the Company had $243.7 million of backlog, which represents the transaction price of executed contracts less inception to date revenue recognized. The Company expects to recognize revenue relating to its backlog, of which a portion is recorded in deferred revenue in the unaudited condensed consolidated balance sheets, of $50.5 million, $26.4 million, and $166.8 million in the nine months ended December 31, 2023, fiscal year 2024, and thereafter, respectively.