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REVENUES (Tables) | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Reconciliation of Disaggregation of Revenue | The following table provides information about revenue by recognition model during the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended June 30,
|  | 2025 |  | 2024
Revenues by recognition model |  | Launch Services |  | Space Systems |  | Total |  | Launch Services |  | Space Systems |  | Total
Point-in-time |  | $ | 39,256 |  |  | $ | 31,070 |  |  | $ | 70,326 |  |  | $ | 29,319 |  |  | $ | 16,534 |  |  | $ | 45,853 |
Over-time |  | 7,390 |  |  | 66,782 |  |  | 74,172 |  |  | 38 |  |  | 60,360 |  |  | 60,398 |
Total revenue by recognition model |  | $ | 46,646 |  |  | $ | 97,852 |  |  | $ | 144,498 |  |  | $ | 29,357 |  |  | $ | 76,894 |  |  | $ | 106,251 |
|  | Six Months Ended June 30,
|  | 2025 |  | 2024
Revenues by recognition model |  | Launch Services |  | Space Systems |  | Total |  | Launch Services |  | Space Systems |  | Total
Point-in-time |  | $ | 74,731 |  |  | $ | 50,334 |  |  | $ | 125,065 |  |  | $ | 62,038 |  |  | $ | 27,924 |  |  | $ | 89,962 |
Over-time |  | 7,507 |  |  | 134,495 |  |  | 142,002 |  |  | 38 |  |  | 109,018 |  |  | 109,056 |
Total revenue by recognition model |  | $ | 82,238 |  |  | $ | 184,829 |  |  | $ | 267,067 |  |  | $ | 62,076 |  |  | $ | 136,942 |  |  | $ | 199,018 |
Schedule of Balances Related to Enforceable Contracts | The following table presents the balances related to enforceable contracts as of June 30, 2025 and December 31, 2024:
| June 30, 2025 |  | December 31, 2024
Contract balances |  |  |
Accounts receivable, net | $ | 61,783 |  |  | $ | 36,440 |
Contract assets | 51,922 |  |  | 63,108 |
Contract liabilities | (223,432) |  |  | (216,160) |
Schedule of Changes in Contract Liabilities | Changes in contract liabilities for the three months ended June 30, 2025 were as follows:
Contract liabilities, at March 31, 2025 | $ | 206,867 |
Customer advances received or billed, net | 105,777 |
Recognition of unearned revenue | (89,212) |
Contract liabilities, at June 30, 2025 | $ | 223,432 |
Changes in contract liabilities for the six months ended June 30, 2025 were as follows:
Contract liabilities, at December 31, 2024 | $ | 216,160 |
Customer advances received or billed, net | 138,865 |
Recognition of unearned revenue | (131,593) |
Contract liabilities, at June 30, 2025 | $ | 223,432 |
Schedule of Concentration of Credit Risk and Significant Customers | As of June 30, 2025, the Company’s customers that accounted for 10% or more of the total accounts receivable, net, were as follows:
| June 30, 2025
Commercial customer | 12 | %
Dynetics, Inc. | 11 | %
For the six months ended June 30, 2025, the Company’s customer that accounted for 10% or more of the total revenue, was:
| Six Months Ended June 30, 2025
Government customer | 27 | %

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