Quarterly report [Sections 13 or 15(d)]

Revenue

v3.25.2
Revenue
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2025 and 2024:
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
(in thousands)
Imagery $ 15,560  $ 15,323  $ 30,924  $ 31,218 
Data, software, and analytics 2,422  2,146  3,887  4,084 
Professional services 3,168  5,572  6,040  9,659 
Engineering services(1)
1,049  1,897  10,892  4,213 
Total revenue $ 22,199  $ 24,938  $ 51,743  $ 49,174 
(1) Engineering services includes $1.0 million and $1.5 million of product revenue for the three months ended June 30, 2025 and 2024, respectively and $10.7 million and $3.5 million of product revenue for the six months ended June 30, 2025 and 2024
The approximate revenue based on geographic location of end customers was as follows for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
(in thousands)
North America $ 13,854  $ 15,029  $ 25,857  $ 30,221 
Middle East(1)
1,941  4,150  4,454  6,644 
Asia Pacific(2)
6,086  5,526  20,835  11,774 
Other 318  233  597  535 
Total revenue $ 22,199  $ 24,938  $ 51,743  $ 49,174 
(1) For the three and six months ended June 30, 2024, Middle East revenue included $4.1 million and $6.6 million, respectively, of revenue from Country A; the amount of revenue from Country A for the three and six months ended June 30, 2025 was not individually significant to the Company. The remaining Middle East countries were not individually significant to the Company.
(2) For the six months ended June 30, 2025, Asia Pacific revenue included $9.3 million of revenue from Country B; the amount of revenue from Country B for the three months ended June 30, 2025 and three and six months ended June 30, 2024 was not individually significant to the Company. For the three and six months ended June 30, 2025, Asia Pacific revenue included $4.5 million and $9.0 million, respectively, of revenue from Country C. For the three and six months ended June 30, 2024, Asia Pacific revenue included $3.6 million and $7.5 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 and six months ended June 30, 2025 and 2024 was as follows:
Three Months Ended June 30, Six Months Ended June 30,
2025 2024 2025 2024
(in thousands)
U.S. federal government and agencies $ 13,496  $ 13,948  $ 25,183  $ 28,705 
International governments 7,928  10,028  25,054  19,047 
Commercial and other 775  962  1,506  1,422 
Total revenue $ 22,199  $ 24,938  $ 51,743  $ 49,174