Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Reporting

v3.25.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Disclosure
4. Segment Information
The Company’s Chief Operating Decision Maker (“CODM”) as defined under GAAP, who is the Company’s Chief Executive Officer, has determined the allocation of resources and assessed performance based upon the consolidated results of the Company. The CODM uses consolidated net loss to assess financial performance and allocate resources. Accordingly, the Company is currently deemed to be comprised of only one operating segment and one reportable segment. This segment, which comprises the continuing operations of the Company’s single operating and reportable segment, provides geospatial intelligence, imagery and related data analytic products and services, of which the Company incurs costs and recognizes revenue on professional and engineering services including but not limited to, the development, integration, and operation of satellites and software platforms, as well as ground systems, that support the Company's primary imagery service subscriptions. The following table presents selected financial information with respect to the Company’s single reportable segment for the years ended December 31, 2024 and 2023:
Years Ended December 31,
2024 2023
Revenue
Imagery & software analytical services $ 70,062  $ 65,391 
Professional & engineering services 32,031  29,101 
Total revenue 102,093  94,492 
Costs and Expenses
Imagery & software analytical direct labor costs 2,502  3,304 
Imagery & software analytical direct materials costs 11,405  10,489 
Professional & engineering direct labor costs 9,167  13,160 
Professional & engineering direct materials costs 4,358  6,828 
Salaries and benefit costs 41,742  40,720 
Stock-based compensation expense 10,526  10,118 
Other segment items 23,145  22,422 
Depreciation and amortization 43,536  43,431 
Loss (gain) on derivatives 2,815  (7,679)
Income on equity method investments (879) (4,165)
Interest income (1,560) (2,063)
Interest expense 12,187  9,306 
Other (income) expense, net (3) 1,807 
Income tax expense 370  673 
Net loss $ (57,218) $ (53,859)
(1) Other segment items included in net loss primarily includes selling, general, and administrative costs and research and development costs.
As of December 31, 2024 and 2023, the Company's segment assets, which are equal to the Company's consolidated assets on the consolidated balance sheets, are owned and operated by United States entities and are classified within the United States. See Note 5—“Revenue” for additional information about revenue by geographic region.