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JOINT VENTURE
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
JOINT VENTURE JOINT VENTURE
The Company is a majority owner of a joint venture company, Starlab Space LLC (“Starlab JV”), which began operating on April 12, 2024 when the SAA was novated with NASA. Through the SAA, the Company will receive financial assistance through Government grants for certain eligible expenses to design, build and maintain a commercial space station.
During the year ended December 31, 2025, Voyager Ventures, LLC, contributed $50.0 million into the Starlab JV. As of December 31, 2025 and 2024, the Company’s ownership stake was 61.9% and 66.9%, respectively.
Consolidated Variable Interest Entity
The Company evaluated its interests in Starlab JV and determined that it has a variable interest as of December 31, 2025. Due to the Company’s obligation to absorb losses and the right to receive benefits from the Variable Interest Entity (“VIE”) along with the ability to direct the activities that most significantly impact Starlab JV’s economic performance (including control over three of the five seats on the Board of Directors at Starlab JV), the Company was determined to be the primary beneficiary and is therefore consolidating the Starlab JV.
The Company’s consolidated financial statements reflect the performance of the Starlab JV VIE with the Company being the primary beneficiary of the VIE and having incremental power over the Starlab JV. The Company meets the power and economic criteria for consolidation of the VIE. The Starlab JV is considered a business and therefore no gain or loss was recognized by the Company upon the initial consolidation of the VIE.
The following table presents the assets and liabilities of the Starlab JV included in the Company’s consolidated balance sheets, separated by major asset and liability class. These assets can only be used to settle obligations of Starlab JV, and the Company does not have recourse to the liabilities. Creditors of Starlab JV do not have recourse to the Company.
Years Ended December 31,
ASSETS20252024
Cash and cash equivalents$54,610 $17,808 
Accounts receivable, net10,003 — 
Prepaid expenses and other current assets17,790 2,716 
Property and equipment, net127,735 36,188 
Operating lease right-of-use assets64 140 
Other assets723 14 
TOTAL ASSETS$210,925 $56,866 
LIABILITIES
Accounts payable$18,107 $18,781 
Operating lease liabilities64 84 
Accrued expenses and other current liabilities15,898 5,414 
Operating lease liabilities, non-current— 56 
Convertible notes, net— 7,435 
Embedded derivatives— 2,723 
Contract liabilities, non-current9,003 — 
TOTAL LIABILITIES$43,072 $34,493