Segment Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information |
Note 14 Segment Information The Company’s Chairman and CEO is its chief operating decision maker (the “CODM”). The Company reports segment information based on how the CODM evaluates performance and makes decisions about how to allocate resources. Accordingly, the Company has two operating and reportable segments: Satellite Solutions and Earth Observation Solutions. The reportable segments are defined as follows:
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Satellite Solutions
The Satellite Solutions segment is a vertically integrated satellite provider with modern facilities and a global ground station network that delivers end-to-end satellite solutions, including spacecraft design, development, launch services, and on-orbit operations for critical missions across a number of applications in a variety of orbits to governmental agencies and commercial businesses.
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Earth Observation Solutions
Through the Satellite Solutions segment, the Earth Observation Solutions segment has commenced developing satellites featuring synthetic aperture radar capabilities to provide Earth observation data and mission solutions. These capabilities are intended to provide the ability to observe and detect during day and night and through clouds and other interference. The Earth Observation Solutions segment is still in its developmental stage and does not yet generate any material revenue. The Company initially intended to develop, build, launch, and operate a constellation of company-owned Earth observation satellites. In connection with the issuance of the Convertible Notes due 2027 and the allocation of production capacity to fulfill existing customer programs, the Company determined the most financially efficient method of providing advanced satellite imagery is to offer its Earth observation satellites as a product as opposed to a company-owned and operated constellation. The Company is currently evaluating its options related to its constellation construction-in-process assets, which may result in an impairment in future reporting periods. Accordingly, the Company will re-evaluate the manner in which the CODM evaluates performance and makes decisions about how to allocate resources during the fourth quarter of 2022, which may result in a change in its operating and reportable segment structure. The CODM uses income (loss) from operations by segment as the segment profitability measure in order to evaluate segment performance. Income (loss) from operations by segment excludes share-based compensation expense and corporate and other costs included within the Company’s consolidated income (loss) from operations. The CODM does not review the Company's assets by segment; therefore, such information is not presented. The following table presents revenue by segment and a reconciliation to consolidated revenue for the periods presented:
The following table presents income (loss) from operations by segment for the periods presented:
The following table presents depreciation and amortization included in income (loss) from operations by segment for the periods presented:
The following table presents a reconciliation of income (loss) from operations by segment to consolidated income (loss) from operations and net income (loss) for the periods presented:
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