Equity Method Investment	12 Months Ended
Dec. 31, 2025
Equity Method Investment
Equity Method Investment	6. Equity Method Investment The Company has an investment in MetCom Inc., a privately-owned Japanese joint stock company (kabushiki kaisha) (“MetCom”). The Company provides licenses to its technology, infrastructure and subscriber equipment to MetCom to support MetCom’s efforts in commercializing terrestrial positioning technology (both TerraPoiNT and Pinnacle) in Japan. Due to the technological dependencies, the Company’s equity ownership and representation on MetCom’s board of directors, the Company has significant influence, but not controlling interest, over MetCom. The Company’s investment in MetCom is accounted for under the equity method. The basis difference in the Company’s cost basis and the basis reflected at the investee entity level is allocated to equity method goodwill and is not amortized. During the fourth quarter of 2025, the Company, together with other third-party investors, participated in MetCom’s series BBB round fund raising and invested $550 thousand in exchange for 95,168 shares at JPY900 per share. As a result, the Company’s total ownership of MetCom decreased from 14.8% to 13.8%. The Company recorded a change of interest gain of $222 thousand in other income (loss), net in the Consolidated Statements of Comprehensive Loss for the year ended December 31, 2025. As of December 31, 2025, the Company’s total ownership of MetCom consisted of 797,502 shares, representing ownership of 13.8%. The Company recognized losses of $164 thousand and $175 thousand for the years ended December 31, 2025 and 2024, respectively, related to its share of MetCom’s operating results, and is recorded in other income (loss), net in the Consolidated Statements of Comprehensive Loss. The carrying value of the Company’s investment in MetCom was $1.1 million and $0.5 million as of December 31, 2025 and 2024, respectively, and is classified in other long-term assets in the Consolidated Balance Sheets. The Company had $28 thousand and $13 thousand in accounts receivable from MetCom as of December 31, 2025 and 2024, respectively. As part of MetCom’s series BBB round fund raising, the Company committed to contribute an additional $450 thousand equity investment in MetCom (“Tranche B Investment”). The closing of Tranche B Investment is subject to certain closing conditions which were not yet met as of December 31, 2025. The Company holds a warrant (the “MetCom Warrant”) issued by MetCom which entitles the Company to purchase additional shares at an exercise price of JPY10 per share, such that the Company may obtain an aggregate total of 33% of MetCom common stock on an “as-converted” basis. The MetCom Warrant is subject to certain vesting conditions, and the closing of Tranche B Investment will trigger an amendment to these vesting terms. The MetCom Warrant vesting conditions were not met as of December 31, 2025; therefore, the MetCom Warrant remained not exercisable.

Equity Method Investment

12 Months Ended

Dec. 31, 2025

6. Equity Method Investment

The Company has an investment in MetCom Inc., a privately-owned Japanese joint stock company (kabushiki kaisha) (“MetCom”). The Company provides licenses to its technology, infrastructure and subscriber equipment to MetCom to support MetCom’s efforts in commercializing terrestrial positioning technology (both TerraPoiNT and Pinnacle) in Japan. Due to the technological dependencies, the Company’s equity ownership and representation on MetCom’s board of directors, the Company has significant influence, but not controlling interest, over MetCom. The Company’s investment in MetCom is accounted for under the equity method. The basis difference in the Company’s cost basis and the basis reflected at the investee entity level is allocated to equity method goodwill and is not amortized.

During the fourth quarter of 2025, the Company, together with other third-party investors, participated in MetCom’s series BBB round fund raising and invested $550 thousand in exchange for 95,168 shares at JPY900 per share. As a result, the Company’s total ownership of MetCom decreased from 14.8% to 13.8%. The Company recorded a change of interest gain of $222 thousand in other income (loss), net in the Consolidated Statements of Comprehensive Loss for the year ended December 31, 2025.

As of December 31, 2025, the Company’s total ownership of MetCom consisted of 797,502 shares, representing ownership of 13.8%. The Company recognized losses of $164 thousand and $175 thousand for the years ended December 31, 2025 and 2024, respectively, related to its share of MetCom’s operating results, and is recorded in other income (loss), net in the Consolidated Statements of Comprehensive Loss. The carrying value of the Company’s investment in MetCom was $1.1 million and $0.5 million as of December 31, 2025 and 2024, respectively, and is classified in other long-term assets in the Consolidated Balance Sheets. The Company had $28 thousand and $13 thousand in accounts receivable from MetCom as of December 31, 2025 and 2024, respectively.

As part of MetCom’s series BBB round fund raising, the Company committed to contribute an additional $450 thousand equity investment in MetCom (“Tranche B Investment”). The closing of Tranche B Investment is subject to certain closing conditions which were not yet met as of December 31, 2025.

The Company holds a warrant (the “MetCom Warrant”) issued by MetCom which entitles the Company to purchase additional shares at an exercise price of JPY10 per share, such that the Company may obtain an aggregate total of 33% of MetCom common stock on an “as-converted” basis. The MetCom Warrant is subject to certain vesting conditions, and the closing of Tranche B Investment will trigger an amendment to these vesting terms. The MetCom Warrant vesting conditions were not met as of December 31, 2025; therefore, the MetCom Warrant remained not exercisable.