Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Balance Sheets

v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
shares in Thousands, $ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 22,555 $ 13,056
Restricted cash 1,153 1,322
Short-term investments 71,231 39,406
Accounts Receivable 6,897 14,701
Contract assets 33,208 27,852
Inventories 0 6,043
Prepaid Expense and Other Assets, Current 3,752 4,356
Total current assets 138,796 106,736
Property and equipment - net 76,776 45,613
Operating lease right of use assets - net 3,723 4,029
Goodwill 10,279 10,260
Intangible assets - net 5,059 5,446
Satellite work in process 65,607 80,601
Other assets 10,558 1,461
Total assets 310,798 254,146
Current liabilities:    
Accounts payable and accrued liabilities 12,265 20,419
Contract liabilities - current 16,616 2,183
Debt, Current 5,198 1,927
Other current liabilities 3,321 1,493
Total current liabilities 37,400 26,022
Operating lease liabilities 7,796 8,048
Derivative liabilities 40,498 17,964
Deferred revenue - long-term 20,000 0
Long-term debt - net of current portion 117,271 105,736
Other liabilities 1,273 2,387
Total liabilities 224,238 160,157
Commitments and contingencies (Note 15)
Stockholders’ equity:    
Class A common stock, $0.0001 par value-authorized, 300,000 shares; issued, 34,854 and 30,960 shares; outstanding, 34,557 shares and 30,663 shares as of June 30, 2025 and December 31, 2024, respectively. 3 3
Additional paid-in capital 796,797 750,174
Accumulated deficit (710,240) (656,188)
Total stockholders’ equity 86,560 93,989
Total liabilities and stockholders’ equity $ 310,798 $ 254,146
Common stock, shares issued (in shares) 34,854 30,960
Common stock shares outstanding (in shares) 34,557 30,663
Related Party    
Current liabilities:    
Other current liabilities $ 1,300 $ 400