XML 23 R12.htm IDEA: XBRL DOCUMENT

Operating Expenses

9 Months Ended

Sep. 30, 2025

Operating Expenses [Abstract]

OPERATING EXPENSES

5. OPERATING EXPENSES

		Three months ended September 30,						Nine months ended September 30,
		2025			2024			2025			2024
Compensation and employee benefits(a)		$	22,439		$	22,085		$	70,065		$	75,756
Other operating expenses(b)			30,641			17,636			75,551			45,572
Cost of sales(c)			4,772			6,214			15,834			28,002
Operating expenses		$	57,852		$	45,935		$	161,450		$	149,330

(a) Compensation and employee benefits included salaries, bonuses, commissions, post-employment benefits and charges arising from share-based compensation.

(b) Other operating expenses included general and administrative expenses, marketing expenses, in-orbit insurance expenses, professional fees and facility costs. The balance for the three and nine months ended September 30, 2025 included $0.5 million and $1.5 million of leases not capitalized due to exemptions and variable lease payments not included in the measurement of the lease liabilities (three and nine months ended September 30, 2024 — $0.4 million and $1.5 million).

(c) Cost of sales included the cost of third-party satellite capacity, the cost of equipment sales and other costs directly attributable to fulfilling the Company’s obligations under customer contracts.