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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 30, 2026
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Acquisition of Astrobotic Technology, Inc. On June 1, 2026, the Co mpany entered into a definitive agreement to acquire Astrobotic Technology, Inc. ("Astrobotic"). Astrobotic specializes in both lunar and terrestrial systems for space exploration. Their technical expertise ranges from designing and manufacturing lunar landers and rovers to creating power infrastructure networks to terrestrial rockets and rocket test beds. Per the definitive agreement, the Company could acquire 100% of the equity securities of Astrobotic for $300.0 million in consideration, which was comprised of $162.2 million base consideration, $9.0 million in assumed debt and $128.8 million in contingent consideration, on an undiscounted basis. On July 10, 2026, the Company closed the acquisition, the base consideration and assumed debt were settled for $96.1 million in cash and 2,024,880 shares of Class A common stock. As of the date of this Quarterly Report, $69.5 million of the contingent consideration was deemed earned, and will be payable in a mix of cash and equity consideration. The remaining contingent consideration is still outstanding until March 31, 2028 and will be settled in the same equity to cash mix. The close date of the acquisition occurred subsequent to the Company's fiscal quarter end on June 30, 2026, therefore the initial accounting, as well as the allocation of the purchase price to the underlying assets acquired and liabilities assumed, which is subject to a formal valuation process, has not yet been completed. The Company will reflect all required disclosures associated with the initial accounting of the acquisition, including the initial purchase price allocation, within its Form 10-Q for the third fiscal quarter of 2026. The purchase price allocation will be finalized as soon as practicable within the measurement period, but not later than one year following the acquisition close date. The purchase price allocation for this acquisition is not yet available, however, the Company expects a substantial majority of the purchase price will be allocated to goodwill and intangible assets. Credit Facility Amendment On July 6, 2026, the Company and its subsidiaries entered into a Fourth Amendment to the Credit Agreement related to the Company's Credit Facility, dated May 30, 2025 (the "Fourth Amendment"). The Fourth Amendment amended the Credit Facility to, among other things, (i) increase the aggregate amount of the commitments by $50.0 million to $250.0 million and (ii) provide for certain changes to the covenants and other provisions contained therein. The Credit Agreement, as amended by the Fourth Amendment, continues to provide the Company with an uncommitted accordion feature that permits the Company, subject to certain conditions, to request an increase in the aggregate commitments by up to an additional $150.0 million, for a total potential facility size of $400.0 million.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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