Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 56,964 $ 34,181
Restricted cash 2,835 2,835
Short-term investments 11,792 37,982
Accounts receivable, net of allowance of $0 and $0, respectively 9,059 3,112
Prepaid expenses and other current assets 4,295 4,713
Contract assets 6,442 5,706
Total current assets 91,387 88,529
Property and equipment - net 87,377 71,584
Operating lease right of use assets - net 3,343 3,586
Goodwill 9,393 9,393
Investment in equity method investees 5,814 5,285
Intangible assets - net 1,778 1,918
Satellite procurement work in process 39,581 50,954
Other assets 2,576 2,841
Total assets 241,249 234,090
Current liabilities:    
Accounts payable and accrued liabilities 10,571 14,368
Amounts payable to equity method investees 2,377 3,728
Contract liabilities - current 3,873 6,783
Other current liabilities 4,033 2,048
Total current liabilities 20,854 26,927
Liability for estimated contract losses 641 714
Long-term contract liabilities 68 109
Operating lease liabilities 3,082 3,132
Derivative liabilities 21,298 5,113
Long-term debt - net of current portion 76,332 76,219
Other liabilities 69 2
Total liabilities 122,344 112,216
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Class A common stock, $0.0001 par value-authorized, 300,000 shares; issued, 139,257 and 121,938 shares; outstanding, 136,839 shares and 119,508 shares as of March 31, 2023 and December 31, 2022, respectively. 14 12
Additional paid-in capital 681,317 666,973
Accumulated deficit (562,426) (545,111)
Total stockholders’ equity 118,905 121,874
Total liabilities and stockholders’ equity 241,249 234,090
Operating lease right of use assets - net $ 3,343 $ 3,586