Revenue

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue

5. Revenue

Disaggregation of Revenue

The Company generates revenue from the sale of space-based intelligence & AI services, mission solutions, and advanced technology programs, primarily to domestic and international government agencies. The

approximate revenue based on the geographic location of end customers was as follows for the three months ended March 31, 2026 and 2025:

	Three Months Ended March 31,
	2026		2025
	(in thousands)
United States	$	9,790	$	11,820
Rest of world	10,984		17,724
Total revenue	$	20,774	$	29,544

The Company has a concentration of contractual revenue arrangements with the U.S. federal government and agencies as well as with international governments. For the three months ended March 31, 2026 and 2025, the rest of world had one and two countries, respectively, that generated 10% or more of the Company's total revenue. For the three months ended March 31, 2026 and 2025, the Company had the following customers whose revenue balances individually represented 10% or more of the Company’s total revenue:

		Revenue
		Three Months Ended March 31,
Customer	Geographic Area(1)	2026	2025
U.S. federal government and agencies	United States	45%	40%
Customer B	Rest of world	22%	15%
Customer C	Rest of world	*	33%

* Revenue from these customers were less than 10% of total revenue during the period.

(1) Each customer whose revenue balances balance individually represented 10% or more of the Company’s total revenue relates to a unique country.

As of March 31, 2026 and December 31, 2025, the Company had the following customers whose accounts receivable balances individually represented 10% or more of the Company’s total accounts receivable:

		Accounts Receivable
		As of March 31,	As of December 31,
Customer	Geographic Area(1)	2026	2025
Customer D	Rest of world	65%	50%
Customer E	Rest of world	12%	11%

(1) Each customer whose accounts receivable balance individually represented 10% or more of the Company’s total accounts receivable relates to a unique country.

Revenue from categories of end customers for the three months ended March 31, 2026 and 2025 was as follows:

	Three Months Ended March 31,
	2026		2025
	(in thousands)
U.S. federal government and agencies	$	9,245	$	11,687
International governments	10,704		17,126
Commercial and other	825		731
Total revenue	$	20,774	$	29,544