| Schedule of Disaggregation Of Revenue |
The following table presents the disaggregation of revenue according to segment:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2026 |
|
Space |
|
Defense Tech |
|
Total |
Revenue percentage by recognition method |
|
|
|
|
|
Over time |
94 |
% |
|
21 |
% |
|
60 |
% |
Point in time |
6 |
|
|
79 |
|
|
40 |
|
Total revenues |
100 |
% |
|
100 |
% |
|
100 |
% |
Revenues by customer grouping |
|
|
|
|
|
Civil space |
$ |
19,649 |
|
|
$ |
455 |
|
|
$ |
20,104 |
|
National security |
8,515 |
|
|
37,459 |
|
|
45,974 |
|
Commercial and other |
24,505 |
|
|
6,389 |
|
|
30,894 |
|
Total revenues |
$ |
52,669 |
|
|
$ |
44,303 |
|
|
$ |
96,972 |
|
Revenues by customer’s geographic location |
|
|
|
|
|
U.S. |
$ |
26,734 |
|
|
$ |
24,314 |
|
|
$ |
51,048 |
|
| Europe |
25,935 |
|
|
9,287 |
|
|
35,222 |
|
| Other |
— |
|
|
10,702 |
|
|
10,702 |
|
Total revenues |
$ |
52,669 |
|
|
$ |
44,303 |
|
|
$ |
96,972 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2025 |
|
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 |
$ |
18,073 |
|
|
$ |
62 |
|
|
$ |
18,135 |
|
National security |
12,315 |
|
|
7,153 |
|
|
19,468 |
|
Commercial and other |
21,745 |
|
|
2,047 |
|
|
23,792 |
|
Total revenues |
$ |
52,133 |
|
|
$ |
9,262 |
|
|
$ |
61,395 |
|
Revenues by customer’s geographic location |
|
|
|
|
|
U.S. |
$ |
27,815 |
|
|
$ |
9,172 |
|
|
$ |
36,987 |
|
| Europe |
24,301 |
|
|
— |
|
|
24,301 |
|
| Other |
17 |
|
|
90 |
|
|
107 |
|
Total revenues |
$ |
52,133 |
|
|
$ |
9,262 |
|
|
$ |
61,395 |
|
Customers comprising 10% or more of revenues are presented below for the following periods:
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|
|
|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
| |
|
|
|
|
March 31, 2026 |
|
March 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer B(1)
|
|
|
|
|
$ |
— |
|
|
$ |
6,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer D(1)
|
|
|
|
|
17,033 |
|
|
14,082 |
|
|
|
|
|
|
Customer E(1)
|
|
|
|
|
13,243 |
|
|
— |
|
|
|
|
|
|
|
|
|
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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.
|
| Schedule of Contract Assets and Contract Liabilities |
The table below presents the contract assets and contract liabilities included on the condensed consolidated balance sheets for the following periods:
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|
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|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
December 31, 2025 |
|
|
Contract assets |
$ |
61,440 |
|
|
$ |
44,019 |
|
|
|
|
|
|
|
|
|
| Contract liabilities |
$ |
79,847 |
|
|
$ |
60,119 |
|
|
|
|
| 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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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
| |
|
|
|
|
March 31, 2026 |
|
March 31, 2025 |
|
|
| Net EAC adjustments, before income taxes |
|
|
|
|
$ |
(1,102) |
|
|
$ |
(3,098) |
|
|
|
| Net EAC adjustments, net of income taxes |
|
|
|
|
(1,093) |
|
|
(2,918) |
|
|
|
| Net EAC adjustments, net of income taxes, per diluted share |
|
|
|
|
(0.01) |
|
|
(0.04) |
|
|
|
|