SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Segment Reporting Information, by Segment

The following table summarizes the operating performance of the Company’s segments:


	Three Months Ended
	March 31, 2026		March 31, 2025
Net Sales:
Defense and Space Technologies	$	36,157	$	35,848
Starlab Space Stations	—		—
Total Net Sales, reportable segments	36,157		35,848
Intersegment eliminations	(911)		(1,341)
Total Net Sales	$	35,246	$	34,507

Other Segment Expenses(1):
Defense and Space Technologies	$	47,662	$	36,916
Starlab Space Stations (3)	5,418		2,814
Total Other Segment Expenses, reportable segments	53,080		39,730
Intersegment eliminations	(911)		(1,341)
Corporate and other expenses (3)	16,408		17,474
Total Other Segment Expenses	$	68,577	$	55,863

Adjusted EBITDA:
Defense and Space Technologies	$	(11,505)	$	(1,068)
Starlab Space Stations (3)	(5,418)		(2,814)
Total Adjusted EBITDA, reportable segments	(16,923)		(3,882)
Intersegment eliminations	—		—
Corporate and other expenses (3)	(16,408)		(17,474)
Depreciation and amortization	(6,033)		(2,602)
Stock-based compensation	(4,129)		(1,723)

Finance and interest expense, net	(2,114)		(2,729)
Net loss attributable to noncontrolling interests	(1,961)		(991)
Interest income	3,819		1,085
Other(2)	1,031		435
Loss before taxes	$	(42,718)	$	(27,881)

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(1)Other Segment Expenses consist of cost of sales, research and development, selling, general, and administrative and other income or expense items which are not deducted when calculating Adjusted EBITDA.

(2)Other consists of acquisition costs, restructuring, impairment, and other income or expense items which are deducted when calculating Adjusted EBITDA. In prior period filings, ‘Interest income’ was grouped into this line item. During the third quarter of 2025, it was broken out due to materiality and prior periods have been recast to break out 'Interest income'.

(3)During the second quarter of 2025, the Adjusted EBITDA metric was modified to remove non-cash services as an add back, and prior periods have been recast to present Adjusted EBITDA to align with the new composition of the metric. These costs were historically only prevalent within the Starlab Space Stations segment and at the Corporate level.

The Company’s total capital expenditures were as follows:


Three Months Ended March 31, 2026	Defense and Space Technologies		Starlab Space Stations		Corporate		Total
Capital expenditures:
Property and equipment	$	12,799	$	37,828	$	489	$	51,116
Total capital expenditures	$	12,799	$	37,828	$	489	$	51,116


Three Months Ended March 31, 2025	Defense and Space Technologies		Starlab Space Stations		Corporate		Total
Capital expenditures:
Property and equipment	$	1,041	$	25,894	$	35	$	26,970
Total capital expenditures	$	1,041	$	25,894	$	35	$	26,970