Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 165,586 $ 5,098
Restricted cash 2,518 5,475
Accounts receivable, net of allowance of $39 and $0, respectively 2,629 2,903
Prepaid expenses and other current assets 6,264 965
Contract assets 1,678 3,796
Total current assets 178,675 18,237
Property and equipment - net 70,551 20,852
Goodwill 9,393 9,393
Investment in equity method investees 4,002 3,277
Intangible assets - net 2,480 3,831
Satellite procurement work in process 40,102 62,664
Other assets 560 1,661
Total assets 305,763 119,915
Current liabilities:    
Accounts payable and accrued liabilities 10,837 7,966
Amounts payable to equity method investees 5,613 8,762
Contract liabilities - current 11,266 14,537
Debt - current portion 0 16,739
Other current liabilities 2,819 7,439
Total current liabilities 30,535 55,443
Liability for estimated contract losses 6,054 6,252
Other liabilities 653 3,605
Long-term contract liabilities 568 2,559
Derivative liabilities 16,925 0
Long-term debt - net of current portion 71,408 84,869
Total liabilities 126,143 152,728
Commitments and contingencies (Note 24)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 100,000 shares authorized; none issued or outstanding. 0 0
Class A common stock, $0.0001 par value-authorized, 300,000 shares; issued, 117,160 and 35,582 shares; outstanding, 114,452 shares and 34,692 shares as of December 31, 2021 and 2020, respectively. 11 3
Additional paid-in capital 650,518 191,168
Retained earnings (470,909) (223,984)
Total stockholders’ equity 179,620 (32,813)
Total liabilities and stockholders’ equity $ 305,763 $ 119,915