Quarterly report [Sections 13 or 15(d)]

Revenue

v3.25.3
Revenue
 9 Months Ended
Sep. 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 nine months ended September 30, 2025 and 2024:
Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
(in thousands)
Imagery $ 13,571  $ 15,565  $ 44,495  $ 46,783 
Data, software, and analytics 2,211  1,711  6,098  5,795 
Professional services 2,976  4,536  9,016  14,195 
Engineering services(1)
860  737  11,752  4,950 
Total revenue $ 19,618  $ 22,549  $ 71,361  $ 71,723 
(1) Engineering services includes $0.4 million of product revenue for the three months ended September 30, 2025 and 2024 and $11.1 million and $3.9 million of product revenue for the nine months ended September 30, 2025 and 2024, respectively.
The approximate revenue based on geographic location of end customers was as follows for the three and nine months ended September 30, 2025 and 2024:
Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
(in thousands)
North America $ 10,339  $ 13,392  $ 36,196  $ 43,613 
Middle East(1)
3,190  3,385  7,644  10,029 
Asia Pacific(2)
5,541  5,549  26,376  17,323 
Other 548  223  1,145  758 
Total revenue $ 19,618  $ 22,549  $ 71,361  $ 71,723 
(1) For the three months ended September 30, 2025, Middle East revenue included $2.4 million of revenue from Country A. For the three and nine months ended September 30, 2024, Middle East revenue included $2.8 million and $9.4 million, respectively, of revenue from Country A. The amount of revenue from Country A for the nine months ended September 30, 2025 was not individually significant to the Company. The remaining Middle East countries were not individually significant to the Company.
(2) For the three and nine months ended September 30, 2025, Asia Pacific revenue included $4.5 million and $13.5 million, respectively, of revenue from Country B. For the three and nine months ended September 30, 2024, Asia Pacific revenue included $4.4 million and $11.9 million, respectively, of revenue from Country B. For the nine months ended September 30, 2025, Asia Pacific revenue included $9.5 million of revenue from Country C; the amount of revenue from Country C for the three months ended September 30, 2025 and three and nine months ended September 30, 2024 was not individually significant to the Company. The remaining Asia Pacific countries were not individually significant to the Company.
Revenue from categories of end customers for the three and nine months ended September 30, 2025 and 2024 was as follows:
Three Months Ended September 30, Nine Months Ended September 30,
2025 2024 2025 2024
(in thousands)
U.S. federal government and agencies $ 9,998  $ 12,903  $ 35,181  $ 41,608 
International governments 8,976  9,048  34,030  28,095 
Commercial and other 644  598  2,150  2,020 
Total revenue $ 19,618  $ 22,549  $ 71,361  $ 71,723