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SEGMENTS | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
SEGMENTS | SEGMENTS The Company’s Chief Operating Decision Maker reviews financial information presented based on a management approach for the purposes of making operating decisions, assessing financial performance and allocating resources. The Company manages its business primarily based upon two operating segments, launch services and space systems. Each of these operating segments represents a reportable segment. Launch Services provides launch and launch related services to customers on a dedicated mission or ride share basis. Space systems is predominately comprised of spacecraft components and spacecraft manufacturing. Although some of the Company’s contracts with customers contain elements of space systems and launch services, each reporting segment is managed separately to better align with customer’s needs and the Company’s growth plans. For contracts with customers that contain both space systems and launch services elements, revenues for each reporting segment are generally allocated based upon the overall costs incurred for each of the reporting segments in comparison to total overall costs of the contract. The following table shows information by reportable segment for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30,
| 2025 |  | 2024
| Launch Services |  | Space Systems |  | Launch Services |  | Space Systems
Revenues | $ | 46,646 |  |  | $ | 97,852 |  |  | $ | 29,357 |  |  | $ | 76,894 |
Cost of revenues | 32,426 |  |  | 65,684 |  |  | 21,586 |  |  | 57,503 |
Gross profit | $ | 14,220 |  |  | $ | 32,168 |  |  | $ | 7,771 |  |  | $ | 19,391 |
| Six Months Ended June 30,
| 2025 |  | 2024
| Launch Services |  | Space Systems |  | Launch Services |  | Space Systems
Revenues | $ | 82,238 |  |  | $ | 184,829 |  |  | $ | 62,076 |  |  | $ | 136,942 |
Cost of revenues | 60,801 |  |  | 124,631 |  |  | 45,898 |  |  | 101,784 |
Gross profit | $ | 21,437 |  |  | $ | 60,198 |  |  | $ | 16,178 |  |  | $ | 35,158 |
The following table shows information by reportable segment by products and services for the three and six months ended June 30, 2025 and 2024:
| Three Months Ended June 30,
| 2025 |  | 2024
| Launch Services |  | Space Systems |  | Launch Services |  | Space Systems
Products: |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 92,725 |  |  | $ | — |  |  | $ | 72,283 |
Cost of revenues | — |  |  | 61,692 |  |  | — |  |  | 53,940 |
Gross profit | $ | — |  |  | $ | 31,033 |  |  | $ | — |  |  | $ | 18,343 |
Services: |  |  |  |  |  |  |
Revenues | $ | 46,646 |  |  | $ | 5,127 |  |  | $ | 29,357 |  |  | $ | 4,611 |
Cost of revenues | 32,426 |  |  | 3,992 |  |  | 21,586 |  |  | 3,563 |
Gross profit | $ | 14,220 |  |  | $ | 1,135 |  |  | $ | 7,771 |  |  | $ | 1,048 |
| Six Months Ended June 30,
| 2025 |  | 2024
| Launch Services |  | Space Systems |  | Launch Services |  | Space Systems
Products: |  |  |  |  |  |  |
Revenues | $ | — |  |  | $ | 173,529 |  |  | $ | — |  |  | $ | 126,429 |
Cost of revenues | — |  |  | 115,561 |  |  | — |  |  | 94,767 |
Gross profit | $ | — |  |  | $ | 57,968 |  |  | $ | — |  |  | $ | 31,662 |
Services: |  |  |  |  |  |  |
Revenues | $ | 82,238 |  |  | $ | 11,300 |  |  | $ | 62,076 |  |  | $ | 10,513 |
Cost of revenues | 60,801 |  |  | 9,070 |  |  | 45,898 |  |  | 7,017 |
Gross profit | $ | 21,437 |  |  | $ | 2,230 |  |  | $ | 16,178 |  |  | $ | 3,496 |
Management does not regularly review either reporting segment’s total assets or operating expenses. This is because in general, the Company’s long-lived assets, facilities, and equipment are shared by each reporting segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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