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Segment Information (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Information

 

                
  December 31, 2025 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
Revenue  $6,921   $79,080   $-   $4,906   $90,907 
Cost of revenue   4,461    28,102    -    3,929    36,492 
Gross profit   2,460    50,978    -    977    54,415 
Research and development   1,824    8,328    7,566    -    17,718 
Sales and marketing   1,181    3,448    -    1,986    6,615 
General and administrative   3,604    11,348    1,200    13,716    29,868 
Interest expense   23    427    -    243    693 
Interest income   (2)    (333)   -    -    

(335

)
Gain on extinguishment of debt   

(13,091

)   

-

    

-

    

-

    

(13,091

)
Other expense (income), net   670    (160)   (23,098)   (2,677)   (25,265)
Income tax expense   -    (6,106)   -    -    (6,106)
Segment profit (loss)   $8,251  $21,814   $14,332  $(12,291)   32,106
Unallocated amounts:                         
Corporate expenses                       28,979 
Interest expense, net                       9,442 
Gain on extinguishment of debt                       (2,468)
Other income, net                       (680)
Income tax expense                       

937

 
Net loss                      $(4,104)

 

                
  December 31, 2024 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
Revenue  $8,665   $74,691   $-   $3,579   $86,935 
Cost of revenue   5,764    19,854    -    3,000    28,618 
Gross profit   2,901    54,837    -    579    58,317 
Research and development   1,028    4,512    7,593    -    13,133 
Sales and marketing   1,286    3,146    -    1,990    6,422 
General and administrative   1,868    8,190    2,115    2,600    14,773 
Goodwill impairment   -    -    17,024    20,970    37,994 
Interest expense   129    2,150    -    278    2,557 
Interest income   -    (271)   -    -    (271)
Other expense (income), net   77    205    (2,401)   (74)   (2,193)
Income tax benefit (expense)   (7,528)   (9,051)   4,035    4,244    (8,300)
Segment (loss) profit  $(9,015)  $27,854   $(20,296)  $(20,941)   (22,398)
Unallocated amounts:                         
Corporate expenses                       3,428 
Interest expense, net                       1,478 
Loss on extinguishment of debt                       

10,461

 
Other expense, net                       20 
Other (income) expense, net                       20 
Income tax expense                       909 
Net loss                      $(38,694)
Schedule of Revenue by Geographic Area

The following table presents revenues by geographic area for the years ended December 31:

 

                
  2025 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
United States  $4,307   $98   $-   $4,906   $9,311 
Europe   1,586    76,398    -    -    77,984 
Other   1,028    2,584    -    -    3,612 
Revenue  $6,921   $79,080   $-   $4,906   $90,907 

 

                
  2024 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
United States  $5,318   $1,169   $-   $3,579   $10,066 
Europe   1,793    73,522    -    -    75,315 
Other   1,554    -    -    -    1,554 
Revenue  $8,665   $74,691   $-   $3,579   $86,935 
Schedule of Revenue by Products and Services

The following table presents revenues by products and services for the years ended December 31:

 

                
  2025 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
Products  $6,907   $73,012   $-   $902   $80,821 
Services   14    6,068    -    4,004    10,086 
Revenue  $6,921   $79,080   $-   $4,906   $90,907 

 

                
  2024 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
Products  $8,618   $71,856   $-   $202   $80,676 
Services   47    2,835    -    3,377    6,259 
Revenue  $8,665   $74,691   $-   $3,579   $86,935 
Schedule of Capital Expenditures, Depreciation and Amortization

The following table presents capital expenditures, depreciation and amortization, stock-based compensation and contingent consideration fair value adjustments for the years ended December 31:

 

                
  2025 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
Depreciation and amortization  $458   $1,679   $6,801   $3,071   $12,009 
Stock-based compensation 1   1,717    151    166    10,087    12,121 
Contingent consideration fair value adjustments   -    (365)   (17,223)   (2,684)   (20,272)
Capital expenditures   361    2,014    -    1,004    3,379 

 

1During the year ended December 31, 2025, the Company also recognized $7.8 million as part of corporate expense.

 

                
  2024 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
Depreciation and amortization  $496   $1,943   $6,802   $3,399   $12,640 
Stock-based compensation   -    -    716    -    716 
Contingent consideration fair value adjustments   -    -    (2,400)   -    (2,400)
Capital expenditures   6    783    -    -    789 
Schedule of Tangible Long Lived Assets by Geographic Area

The following table presents tangible long-lived assets by geographic area as of December 31:

 

                
  2025 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
United States  $544   $-   $3   $5,484   $6,031 
Europe   -    2,955    -    -    2,955 
Total  $544   $2,955   $3   $5,484   $8,986 

 

                
  2024 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Total 
United States  $201   $-   $2   $5,339   $5,542 
Europe   -    1,292    -    -    1,292 
Total  $201   $1,292   $2   $5,339   $6,834 
Schedule of Segment Assets

Total segment assets reconciled to consolidated amounts are as follows as of December 31:

 

      Total Segment assets 
(In Thousands)  Avionics   Drones   Electric Air
Mobility
   Training   Corporate   Total 
2025  $3,795   $178,064   $506,214   $30,387   $55,679   $774,139 
2024  $1,208   $150,722   $514,152   $32,378   $2,539   $700,999