v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Net loss $ (57,218) $ (53,859)
Cash flows from operating activities:    
Net loss (57,218) (53,859)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 43,536 43,431
Transfer of satellite work in process to engineering service costs 334 4,854
Operating lease right of use assets amortization 583 883
Bad debt expense 145 179
Stock-based compensation expense 11,169 10,862
Amortization of debt issuance costs and non-cash interest expense 9,207 7,967
Loss (gain) on derivatives 2,815 (7,679)
Non-cash interest income (1,074) (796)
Loss on impairment of assets (131) (81)
Loss on disposal of assets 44 127
Income on equity method investment (879) (4,165)
Changes in operating assets and liabilities:    
Accounts receivable (7,775) (4,137)
Contract assets - current and long-term (4,989) (16,299)
Prepaid expenses and other current assets 556 1,118
Other assets 2,428 1,328
Accounts payable and accrued liabilities (4,080) 3,316
Other current liabilities (356) (1,041)
Contract liabilities - current and long-term (978) (3,053)
Other liabilities 17 (538)
Net cash used in operating activities (6,384) (17,421)
Cash flows from investing activities:    
Purchase of property and equipment (15,678) (15,274)
Satellite work in process (34,558) (28,441)
Purchases of short-term investments (52,860) (40,078)
Proceeds from maturities of short-term investments 34,225 59,110
Cash Acquired from Acquisition 541 0
Proceeds from sale of equity method investment 0 9,450
Proceeds from sale of property and equipment 0 22
Net cash used in investing activities (68,330) (15,211)
Cash flows from financing activities:    
Proceeds from equity issuances, net of equity issuance costs 47,009 32,733
Proceeds from issuance of debt 20,000 0
Proceeds from options exercised and ESPP shares purchased 308 10
Debt payments (10,000) 0
Withholding tax payments on vesting of restricted stock units (967) (1,410)
Payments of debt issuance costs (632) 0
Payments for deferred financing costs 0 (67)
Payments for deferred offering costs (60) 0
Payments of transaction costs for debt modification 0 1,311
Payments of transaction costs related to derivative liabilities 0 (905)
Net cash provided by financing activities 55,658 29,050
Net decrease in cash, cash equivalents, and restricted cash (19,056) (3,582)
Cash, cash equivalents, and restricted cash – beginning of year 33,434 37,016
Cash, cash equivalents, and restricted cash – end of year 14,378 33,434
Supplemental Cash Flow Elements [Abstract]    
Cash and cash equivalents 13,056 32,815
Restricted cash 1,322 619
Total cash, cash equivalents, and restricted cash 14,378 33,434
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,523 989
Cash paid for income taxes 476 460
Supplemental disclosures of non-cash financing and investing information:    
Increase of debt principal for paid-in-kind interest 8,456 7,446
Vendor financed satellite launch costs 6,000 0
Transfer of satellite work in progress to inventories 5,997 0
Accretion of short-term investments' discounts and premiums 1,074 777
Capitalized stock-based compensation 555 709
Transfer of satellite work in process to engineering service costs 334 4,854
Capitalization of depreciation expense 177 0
Deferred offering costs accrued but not yet paid 54 4
Equity issuance costs accrued but not yet paid 46 13
Capitalized interest for property and equipment placed into service 0 220
Credits from LeoStella applied to satellite procurement costs 0 125
Satellite procurement costs included in settlement with LeoStella 0 36
Property, Plant and Equipment    
Supplemental disclosures of non-cash financing and investing information:    
Property and equipment additions accrued but not yet paid $ 1,117 $ 10,420

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