Revenue

6 Months Ended

Jun. 30, 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) professional services; and (iv) engineering services. This disaggregation allows the Company to evaluate market trends in certain imagery and software analytical services and professional and engineering services.

The following table disaggregates revenue by type for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in thousands)
Imagery	$	12,778	$	6,833	$	25,690	$	10,443
Data, software and analytics	2,550		3,339		5,398		7,099
Professional services	3,707		3,178		6,335		5,580
Engineering services	292		1,752		301		5,876
Total revenue	$	19,327	$	15,102	$	37,724	$	28,998

The approximate revenue based on geographic location of customers is as follows for the three and six months ended June 30, 2023 and 2022:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in thousands)
North America	$	14,492	$	12,437	$	28,511	$	23,584
Middle East	1,370		782		2,895		1,376
Asia	3,177		1,584		5,802		3,578
Other	288		299		516		460
Total revenue	$	19,327	$	15,102	$	37,724	$	28,998

Revenue from categories of customers for the three and six months ended June 30, 2023 and 2022 is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(in thousands)
U.S. federal government and agencies	$	14,069	$	12,162	$	27,739	$	23,225
International governments	4,871		2,742		9,254		5,487
Commercial and other	387		198		731		286
Total revenue	$	19,327	$	15,102	$	37,724	$	28,998

As of June 30, 2023 and December 31, 2022, accounts receivable consisted of the following:

	June 30,		December 31,
	2023		2022
	(in thousands)
U.S. federal government and agencies	$	1,669	$	2,540
International governments	5,619		261
Commercial and other	87		311
Total accounts receivable	$	7,375	$	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 June 30, 2023, the Company had $262.5 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 $40.1 million, $43.9 million, and $178.5 million in the six months ending December 31, 2023, fiscal year 2024, and thereafter, respectively.