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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 42,445 $ 13,056
Restricted cash 1,103 1,322
Short-term investments 82,006 39,406
Accounts Receivable 34,139 14,701
Contract assets 28,595 27,852
Inventories 6,178 6,043
Prepaid Expense and Other Assets, Current 12,329 4,356
Total current assets 206,795 106,736
Property and equipment - net 79,037 45,613
Operating lease right of use assets - net 3,418 4,029
Goodwill 10,279 10,260
Intangible assets - net 4,422 5,446
Satellite work in process 80,651 80,601
Other assets 1,644 1,461
Total assets 386,246 254,146
Current liabilities:    
Accounts payable and accrued liabilities 14,945 20,419
Contract liabilities - current 20,518 2,183
Debt, Current 7,937 1,927
Other current liabilities 16,061 1,493
Total current liabilities 59,461 26,022
Operating lease liabilities 7,579 8,048
Derivative liabilities 20,648 17,964
Deferred revenue - long-term 9,948 0
Long-term debt - net of current portion 193,180 105,736
Other liabilities 555 2,387
Total liabilities 291,371 160,157
Commitments and contingencies (Note 23)
Stockholders’ equity:    
Class A common stock, $0.0001 par value-authorized, 300,000 shares; issued, 36,227 and 30,960 shares; outstanding, 35,930 shares and 30,663 shares as of December 31, 2025 and 2024, respectively. 4 3
Additional paid-in capital 821,319 750,174
Accumulated deficit (726,448) (656,188)
Total stockholders’ equity 94,875 93,989
Total liabilities and stockholders’ equity $ 386,246 $ 254,146