Quarterly report [Sections 13 or 15(d)]

Revenues (Tables)

v3.25.3
Revenues (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
The table below presents revenue percentage by recognition method for the following periods:
Three Months Ended Nine Months Ended
  September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024
Over time
 51.4% 97.0% 74.9% 98.6%
Point in time
 48.6 3.0 25.1 1.5
Total revenues
 100.0% 100.0% 100.0% 100.0%
Schedule of Revenues by Customer Grouping
The table below presents revenues by customer grouping for the following periods:
Three Months Ended Nine Months Ended
  September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024
Civil space
 $ 18,220  $ 21,359  $ 51,955  $ 69,337 
National security
 58,573  26,097  92,862  56,266 
Commercial and other
 26,639  21,182  81,770  108,938 
Total revenues
 $ 103,432  $ 68,638  $ 226,587  $ 234,541 

The table below presents revenues based on the geographic location of the Company’s customers for the following periods:
Three Months Ended Nine Months Ended
September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024
U.S.
 $ 62,083  $ 41,290  $ 131,108  $ 105,131 
Europe 32,463  27,334  85,780  129,325 
Other 8,886  14  9,699  85 
Total revenues
 $ 103,432  $ 68,638  $ 226,587  $ 234,541 

Customers comprising 10% or more of revenues are presented below for the following periods:
Three Months Ended Nine Months Ended
  September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024
Customer B(1)
—  7,305  —  24,804 
Customer D(1)
14,400  16,298  49,823  93,527 
Customer E(1)
27,589  —  31,947  — 
(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:
September 30, 2025 December 31, 2024
Contract assets
 $ 50,925  $ 43,044 
 
Contract liabilities $ 60,009  $ 67,201 
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:
Three Months Ended Nine Months Ended
  September 30, 2025 September 30, 2024 September 30, 2025 September 30, 2024
Net EAC adjustments, before income taxes $ (8,334) $ (1,552) $ (36,633) $ (8,579)
Net EAC adjustments, net of income taxes (10,001) (1,518) (30,955) (8,519)
Net EAC adjustments, net of income taxes, per diluted share (0.07) (0.02) (0.38) (0.13)