| Schedule of Disaggregation Of Revenue |
The following table presents the disaggregation of revenue according to segment:
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Year Ended December 31, 2025 |
|
Space |
|
Defense Tech |
|
Total |
Revenue percentage by recognition method |
|
|
|
|
|
Over time |
97 |
% |
|
15 |
% |
|
66 |
% |
Point in time |
3 |
|
|
85 |
|
|
34 |
|
Total revenues |
100 |
% |
|
100 |
% |
|
100 |
% |
Revenues by customer grouping |
|
|
|
|
|
Civil space |
$ |
69,453 |
|
|
$ |
3,096 |
|
|
$ |
72,549 |
|
National security |
51,869 |
|
|
105,370 |
|
|
157,239 |
|
Commercial and other |
88,495 |
|
|
17,098 |
|
|
105,593 |
|
Total revenues |
$ |
209,817 |
|
|
$ |
125,564 |
|
|
$ |
335,381 |
|
Revenues by customer’s geographic location |
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|
|
|
|
U.S. |
$ |
105,228 |
|
|
$ |
90,716 |
|
|
$ |
195,944 |
|
| Europe |
104,574 |
|
|
20,742 |
|
|
125,316 |
|
| Other |
15 |
|
|
14,106 |
|
|
14,121 |
|
Total revenues |
$ |
209,817 |
|
|
$ |
125,564 |
|
|
$ |
335,381 |
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|
Year Ended December 31, 2024 |
|
Space |
|
Defense Tech |
|
Total |
Revenues percentage by recognition method |
|
|
|
|
|
Over time |
98 |
% |
|
100 |
% |
|
98 |
% |
| Point in time |
2 |
|
|
— |
|
|
2 |
|
Total revenues |
100 |
% |
|
100 |
% |
|
100 |
% |
Revenues by customer grouping |
|
|
|
|
|
Civil space |
$ |
84,923 |
|
|
$ |
3,891 |
|
|
$ |
88,814 |
|
National security |
36,420 |
|
|
40,411 |
|
|
76,831 |
|
Commercial and other |
133,993 |
|
|
4,463 |
|
|
138,456 |
|
Total revenues |
$ |
255,336 |
|
|
$ |
48,765 |
|
|
$ |
304,101 |
|
Revenues by customer’s geographic location |
|
|
|
|
|
U.S. |
$ |
101,504 |
|
|
$ |
48,627 |
|
|
$ |
150,131 |
|
| Europe |
153,747 |
|
|
12 |
|
|
153,759 |
|
| Other |
85 |
|
|
126 |
|
|
211 |
|
Total revenues |
$ |
255,336 |
|
|
$ |
48,765 |
|
|
$ |
304,101 |
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|
Year Ended December 31, 2023 |
|
Space |
|
Defense Tech |
|
Total |
Revenues percentage by recognition method |
|
|
|
|
|
Over time |
94 |
% |
|
98 |
% |
|
95 |
% |
| Point in time |
6 |
|
|
2 |
|
|
5 |
|
Total revenues |
100 |
% |
|
100 |
% |
|
100 |
% |
Revenues by customer grouping |
|
|
|
|
|
Civil space |
$ |
94,200 |
|
|
$ |
8,394 |
|
|
$ |
102,594 |
|
National security |
26,456 |
|
|
32,597 |
|
|
59,053 |
|
Commercial and other |
73,344 |
|
|
8,809 |
|
|
82,153 |
|
Total revenues |
$ |
194,000 |
|
|
$ |
49,800 |
|
|
$ |
243,800 |
|
Revenues by customer’s geographic location |
|
|
|
|
|
U.S. |
$ |
124,846 |
|
|
$ |
48,057 |
|
|
$ |
172,903 |
|
| Europe |
69,071 |
|
|
1,743 |
|
|
70,814 |
|
| Other |
83 |
|
|
— |
|
|
83 |
|
Total revenues |
$ |
194,000 |
|
|
$ |
49,800 |
|
|
$ |
243,800 |
|
Customers comprising 10% or more of revenues are presented below for the following periods:
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Year Ended |
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| |
|
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|
December 31, 2025 |
|
December 31, 2024 |
|
December 31, 2023 |
|
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Customer A(1)
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|
$ |
— |
|
|
$ |
31,055 |
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$ |
39,314 |
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Customer B(1)
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|
|
|
— |
|
|
— |
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33,621 |
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Customer D(1)
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66,261 |
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|
107,605 |
|
|
— |
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Customer E(1)
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|
62,829 |
|
|
— |
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— |
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(1) While revenue may have been generated during each of the periods presented, amounts are only disclosed for the periods in which revenues represented 10% or more of total revenue.
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| Schedule of EAC Adjustments |
Net EAC adjustments can have a significant effect on reported revenues and gross profit. The below table summarizes the favorable (unfavorable) impact on gross profit from the net EAC adjustments for the following periods:
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Year Ended |
| |
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|
December 31, 2025 |
|
December 31, 2024 |
|
December 31, 2023 |
| Net EAC adjustments, before income taxes |
|
|
|
|
$ |
(54,453) |
|
|
$ |
(17,696) |
|
|
$ |
(3,522) |
|
| Net EAC adjustments, net of income taxes |
|
|
|
|
(49,062) |
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|
(17,395) |
|
|
(3,459) |
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| Net EAC adjustments, net of income taxes, per diluted share |
|
|
|
|
(0.41) |
|
|
(0.26) |
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|
(0.05) |
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