Quarterly report [Sections 13 or 15(d)]

Revenue

v3.25.1
Revenue
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue
5. Revenue
Disaggregation of Revenue
The Company earns revenue through the sale of imagery and software analytical services and professional and engineering services. The Company’s management primarily disaggregates revenue as follows: (i) imagery; (ii) data, software and analytics; (iii) professional services; and (iv) engineering services. This disaggregation allows the Company to evaluate market trends in certain imagery and software analytical services and professional and engineering services.
The following table disaggregates revenue by type for the three months ended March 31, 2025 and 2024:
Three Months Ended March 31,
2025 2024
(in thousands)
Imagery $ 15,364  $ 15,895 
Data, software, and analytics 1,465  1,938 
Professional services 2,872  4,087 
Engineering services(1)
9,843  2,316 
Total revenue $ 29,544  $ 24,236 
(1) Engineering services includes $9.7 million and $2.0 million of product revenue for the three months ended March 31, 2025 and 2024, respectively.
The approximate revenue based on geographic location of end customers was as follows for the three months ended March 31, 2025 and 2024:
Three Months Ended March 31,
2025 2024
(in thousands)
North America $ 12,003  $ 15,192 
Middle East(1)
2,513  2,494 
Asia Pacific(2)
14,749  6,248 
Other 279  302 
Total revenue $ 29,544  $ 24,236 
(1) For the three months ended March 31, 2024, Middle East revenue included $2.5 million of revenue from Country A; the amount of revenue from Country A for the three months ended March 31, 2025 was not individually significant to the Company. The remaining Middle East countries were not individually significant to the Company.
(2) For the three months ended March 31, 2025, Asia Pacific revenue included $9.0 million of revenue from Country B; the amount of revenue from Country B for the three months ended March 31, 2024 was not individually significant to the Company. For the three months ended March 31, 2025 and 2024, Asia Pacific revenue included $4.5 million and $3.9 million, respectively, of revenue from Country C. The remaining Asia Pacific countries were not individually significant to the Company.
Revenue from categories of end customers for the three months ended March 31, 2025 and 2024 was as follows:
Three Months Ended March 31,
2025 2024
(in thousands)
U.S. federal government and agencies $ 11,687  $ 14,757 
International governments 17,126  9,019 
Commercial and other 731  460 
Total revenue $ 29,544  $ 24,236