General form of registration statement for all companies including face-amount certificate companies

Revenues (Tables)

v3.21.2
Revenues (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Disaggregation of Revenue [Line Items]    
Summary of Disaggregation of Accounts Receivable on the Basis of Customers
As of September 30, 2021 and December 31, 2020, accounts receivable consisted of the following:
 
    
September 30,

2021
    
December 31,
2020
 
    
(in thousands)
 
U.S. federal government and agencies
   $ 4,584    $ 1,335
Commercial and other
     325      1,568
Allowance for doubtful accounts
     —          —    
  
 
 
    
 
 
 
Total accounts receivable
   $ 4,909    $ 2,903
  
 
 
    
 
 
 
Accounts receivable for the years ended December 31, 2020 and 2019 is as follows:
 
    
December 31,
 
    
2020
    
2019
 
    
(in thousands)
 
U.S. federal government and agencies
   $ 1,335      $ 3,349  
Commercial and other
     1,568        979  
Allowance for doubtful accounts
     —          —    
    
 
 
    
 
 
 
Total accounts receivable
   $ 2,903      $ 4,328  
    
 
 
    
 
 
 
Summary of Cumulative Adjustment Made to Balance Sheet due to Changes in Accounting for Incremental Costs of Obtaining Contracts with Customers  
The cumulative effect of changes made to the consolidated January 1, 2020 balance sheet for the adoption of ASC 606 was primarily due to accounting for incremental costs to obtain contracts, comprised of contract commissions and changes in recognition of product revenues for long-term engineering and integration construction contracts which were previously recognized based on contract milestones achieved and, upon adoption of ASC 606, are recognized over time using the
cost-to-cost
method to measure progress. The adjustments are as follows:
 
    
Balance at
December 31, 2019
   
Adjustments due
to ASC 606
   
Balance at
January 1, 2020
 
    
(in thousands)
 
Assets
                        
Contract assets
   $ —       $ 337     $ 337  
    
 
 
   
 
 
   
 
 
 
Total current assets
     65,863       337       66,200  
Contract assets - long-term
     —         281       281  
    
 
 
   
 
 
   
 
 
 
Total assets
   $ 163,364     $ 618     $ 163,982  
    
 
 
   
 
 
   
 
 
 
Liabilities and stockholders’ deficit
                        
Contract liabilities
   $ 7,952     $ 214     $ 8,166  
    
 
 
   
 
 
   
 
 
 
Total current liabilities
     100,300       214       100,514  
Contract liabilities - long-term
     —         1,054       1,054  
    
 
 
   
 
 
   
 
 
 
Total liabilities
     181,659       1,268       182,927  
Accumulated deficit
     (203,799     (650     (204,449
    
 
 
   
 
 
   
 
 
 
Total stockholders’ deficit
     (189,616     (650     (190,266
    
 
 
   
 
 
   
 
 
 
Total liabilities and stockholders’ deficit
   $ 163,364     $ 618     $ 163,982  
    
 
 
   
 
 
   
 
 
 
Summary of Cumulative Adjustment Made to Consolidated Income Statement due to Changes in Accounting for Incremental Costs of Obtaining Contracts with Customers  
Consolidated Statement of Operations
 
    
Year ended December 31, 2020
 
    
As Reported

(ASC 606)
    
As Adjusted

(ASC 605)
 
Revenues
                 
Services
   $ 18,737      $ 18,737  
Products
     2,398        2,025  
Costs and expenses:                  
Service costs, excluding depreciation and amortization
     13,331        13,331  
Product costs, excluding depreciation and amortization
     10,535        10,535  
Selling, general and administrative
     28,606        28,472  
Operating loss
   $ (41,395    $ (41,634
Summary of Cumulative Adjustment Made to Consolidated Cash Flow Statement due to Changes in Accounting for Incremental Costs of Obtaining Contracts with Customers  
Consolidated Statement of Cash Flows
 
    
Year ended December 31, 2020
 
    
As Reported

(ASC 606)
    
As Adjusted

(ASC 605)
 
Cash flows used in operating activities
                 
Net loss
   $ (19,535    $ (19,774
Gain/(loss) from discontinued operations, net of tax
     28,185        28,185  
    
 
 
    
 
 
 
Loss from continuing operations
     (47,720      (47,959
Changes in operating assets and liabilities:
                 
Contract assets
     (3,796      (3,515
Contract liabilities - current and long-term
     9,019        8,512  
    
 
 
    
 
 
 
Cash flows used in operating activities - continuing operations
     (15,300      (15,300
Cash flows (used in) operating activities - discontinued operations
     (16,374      (16,374
    
 
 
    
 
 
 
Net cash used in operating activities
     (31,674      (31,674
    
 
 
    
 
 
 
Schedules of Concentration of Risk, by Risk Factor
Revenue from significant customers for the three and nine months ended September 30, 2021 and 2020 is as follows:
 
    
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
 
    
2021
    
2020
    
2021
    
2020
 
    
(in thousands)
    
(in thousands)
 
U.S. federal government and agencies
   $ 6,590    $ 3,831    $ 18,897    $ 11,699
Commercial and other
     1,347      1,486      3,699      3,029
  
 
 
    
 
 
    
 
 
    
 
 
 
Total revenues
   $ 7,937    $ 5,317    $ 22,596    $ 14,728
  
 
 
    
 
 
    
 
 
    
 
 
 
 
Reporting Date [Member]    
Disaggregation of Revenue [Line Items]    
Summary of Cumulative Adjustment Made to Balance Sheet due to Changes in Accounting for Incremental Costs of Obtaining Contracts with Customers  
Consolidated Balance Sheet
 
    
As Reported

(ASC 606)
    
As Adjusted

(ASC 605)
 
    
(in thousands)
 
Contract assets
   $ 3,796      $ 3,515  
Contract liabilities - current
     14,537        14,030  
Contract liabilities - long-term
     2,559        2,559  
Accumulated deficit
     (223,984      (223,196
Product Basis [Member]    
Disaggregation of Revenue [Line Items]    
Summary of Disaggregation of Revenue
The following table disaggregates revenue by type of imagery & software analytical services and engineering & integration for the three and nine months ended September 30, 2021 and 2020:​​​​​​​
    
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
 
    
2021
    
2020
    
2021
    
2020
 
    
(in thousands)
    
(in thousands)
 
Imagery
   $ 2,773    $ 814    $ 5,621    $ 1,222
Data, software and analytics
     3,756      4,720      12,023      12,038
Engineering & integration
     1,408      (217      4,952      1,468
  
 
 
    
 
 
    
 
 
    
 
 
 
Total revenues
   $ 7,937    $ 5,317    $ 22,596    $ 14,728
  
 
 
    
 
 
    
 
 
    
 
 
 
The following table disaggregates revenue by type of products and services for the years ended December 31, 2020 and 2019:
 
    
Year Ended
December 31,
 
    
2020
    
2019
 
    
(in thousands)
 
Imagery
   $ 3,005      $ 623  
Data, software and analytics
     15,732        12,702  
Engineering and integration
     2,398        388  
    
 
 
    
 
 
 
Total revenues
   $ 21,135      $ 13,713  
    
 
 
    
 
 
 
Geographical Basis [Member]    
Disaggregation of Revenue [Line Items]    
Summary of Disaggregation of Revenue
The approximate revenue based on geographic location of customers is as follows for the three and nine months ended September 30, 2021 and 2020:
 
    
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
 
    
2021
    
2020
    
2021
    
2020
 
    
(in thousands)
    
(in thousands)
 
US
   $ 6,704    $ 3,875    $ 19,063    $ 11,853
Middle East
     607      1,249      1,987      2,446
Asia
     343      183      1,113      397
Other
     283      10      433      32
  
 
 
    
 
 
    
 
 
    
 
 
 
Total revenues
   $ 7,937    $ 5,317    $ 22,596    $ 14,728
  
 
 
    
 
 
    
 
 
    
 
 
 
The approximate revenue based on geographic location of customers for the years ended December 31, 2020 and 2019 is as follows:
 
    
Year Ended
December 31,
 
    
2020
    
2019
 
    
(in thousands)
 
US
   $ 17,239      $ 11,908  
Middle East
     3,185        1,537  
Asia
     668        268  
Other
     43        —    
    
 
 
    
 
 
 
Total revenues
   $ 21,135      $ 13,713  
    
 
 
    
 
 
 
Customer Basis [Member]    
Disaggregation of Revenue [Line Items]    
Summary of Disaggregation of Revenue
Revenue from significant customers for the three and nine months ended September 30, 2021 and 2020 is as follows:
 
    
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
 
    
2021
    
2020
    
2021
    
2020
 
    
(in thousands)
    
(in thousands)
 
U.S. federal government and agencies
   $ 6,590    $ 3,831    $ 18,897    $ 11,699
Commercial and other
     1,347      1,486      3,699      3,029
  
 
 
    
 
 
    
 
 
    
 
 
 
Total revenues
   $ 7,937    $ 5,317    $ 22,596    $ 14,728
  
 
 
    
 
 
    
 
 
    
 
 
 
Revenues from significant customers for the years ended December 31, 2020 and 2019 is as follows:
 
    
Year Ended
December 31,
 
    
2020
    
2019
 
    
(in thousands)
 
U.S. federal government and agencies
   $ 17,050      $ 11,680  
Commercial and other
     4,085        2,033  
    
 
 
    
 
 
 
Total revenues
   $ 21,135      $ 13,713  
    
 
 
    
 
 
 
Based on Timing of Transfer of Goods and Services [Member]    
Disaggregation of Revenue [Line Items]    
Summary of Disaggregation of Revenue
The following table disaggregates revenue for the three and nine months ended September 30, 2021 and 2020 by when control is transferred:
 
    
Three Months Ended
September 30,
    
Nine Months Ended
September 30,
 
    
2021
    
2020
    
2021
    
2020
 
    
(in thousands)
    
(in thousands)
 
Point in time
   $ 3,104    $ 2,128    $ 7,565    $ 3,300
Over time
     4,833      3,189      15,031      11,428
  
 
 
    
 
 
    
 
 
    
 
 
 
Total revenues
   $ 7,937    $ 5,317    $ 22,596    $ 14,728
  
 
 
    
 
 
    
 
 
    
 
 
 
The following table disaggregates revenue by when control is transferred for the years ended December 31, 2020 and 2019:
 
    
Year Ended
December 31,
 
    
2020
    
2019
 
Point in time
   $ 5,405      $ 2,505  
Over time
     15,730        11,208  
    
 
 
    
 
 
 
Total revenues
   $ 21,135      $ 13,713