Segment Reporting

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Segment Reporting Disclosure

4. Segment Information

The Company’s Chief Operating Decision Maker (“CODM”) as defined under GAAP, who is the Company’s Chief Executive Officer, has determined the allocation of resources and assessed performance based upon the unaudited condensed consolidated results of the Company. The CODM uses consolidated net loss to assess financial performance and allocate resources. Accordingly, the Company is currently deemed to be comprised of only one operating segment and one reportable segment. This segment, which comprises the continuing operations of the Company’s single operating and reportable segment, provides geospatial intelligence, imagery and related data analytic products and services, of which the Company incurs costs and also recognizes revenue on professional and engineering services including but not limited to, the development, integration, and operation of satellites and software platforms, as well as ground systems, that support the Company's primary imagery service subscriptions. The following table presents selected financial information with respect to the Company’s single reportable segment for the three and six months ended June 30, 2025 and 2024:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Revenue
Imagery & software analytical services	$	17,982	$	17,469	$	34,811	$	35,302
Professional & engineering services	4,217		7,469		16,932		13,872
Total revenue	22,199		24,938		51,743		49,174
Costs and Expenses
Imagery & software analytical direct labor costs	676		687		1,228		1,380
Imagery & software analytical direct materials costs	2,784		2,745		6,050		5,497
Professional & engineering direct labor costs	2,227		1,982		4,393		5,005
Professional & engineering direct materials costs	560		1,468		7,176		2,033
Salaries and benefit costs	11,812		10,417		23,515		21,073
Stock-based compensation expense(1)	3,288		2,222		6,045		5,370
Other segment items(2)	7,584		5,861		14,811		11,329
Depreciation and amortization	7,208		11,277		14,444		22,461
Loss (gain) on derivatives	24,435		(5,273)		22,534		(5,019)
Interest income	(677)		(330)		(1,250)		(730)
Interest expense	3,509		3,029		6,852		5,663
Other	(3)		(2)		(68)		(3)
Income tax expense	35		252		65		322
Net loss	$	(41,239)	$	(9,397)	$	(54,052)	$	(25,207)

(1) Relates to stock-based compensation within selling, general, and administrative costs.

(2) Other segment items included in net loss primarily includes selling, general, and administrative costs and research and development costs.

As of June 30, 2025 and December 31, 2024, the Company's segment assets, which are equal to the Company's consolidated assets on the unaudited condensed consolidated balance sheets, are owned and operated by United States entities and are classified within the United States. See Note 5—“Revenue” for additional information about revenue by geographic region.