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Revenue from Contract with Customers
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customers Revenue from Contracts with Customers
During the three months ended June 30, 2025, we recognized revenue of $4.4 million, of which $0.9 million was recognized over time and $3.6 million was recognized at a point in time. During the three months ended June 30, 2024, we recognized revenue of $3.5 million, of which $0.5 million was recognized over time and $3.0 million was recognized at a point in time.

During the six months ended June 30, 2025, we recognized revenue of $7.8 million, of which $1.6 million was recognized over time and $6.2 million was recognized at a point in time. During the six months ended June 30, 2024, we recognized revenue of $6.8 million, of which $1.7 million was recognized over time and $5.1 million was recognized at a point in time.
In November 2021, the Company entered a 5-year noncancellable agreement with a technology company by which the customer receives $4.0 million in credits to purchase imagery each year. The Company recognizes revenue as images are delivered to the customer. The customer pays the Company in non-cash consideration in the form of a license to a proprietary software platform, which the Company uses in its internal operations. For the three months ended June 30, 2025 and 2024, we recognized $1.2 million and $1.4 million of revenue from this customer, respectively. For the six months ended June 30, 2025 and 2024, we recognized $2.2 million and $3.0 million of revenue from this customer, respectively.
Disaggregation of revenue

Information about our revenue by business line is as follows:

Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenue by business line
Asset Monitoring$3,544 $2,964 $6,165 $5,148 
Constellation as a Service ("CaaS")412 412 824 824 
Space Systems484 125 838 857 
Total revenue$4,440 $3,501 $7,827 $6,829 

Information about our revenue by timing is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenue by timing
Over time$878 $536 $1,633 $1,680 
Point-in time3,562 2,965 6,194 5,149 
Total revenue$4,440 $3,501 $7,827 $6,829 
Information about our revenue by geography is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenue by geography (1)
North America$3,407 $2,544 $5,981 $4,179 
Europe480 569 934 1,081 
Asia Pacific415 385 767 1,565 
South America138 3 145 4 
Total revenue$4,440 $3,501 $7,827 $6,829 
(1) Revenue by geography is based on the geographical location of the customer.

Contract Liabilities and Remaining Performance Obligations
Our contract liabilities consist of payments received from customers, or such consideration contractually due, in advance of providing the relevant satellite imagery or related service. Amounts included in Contract liabilities are as follows:
June 30,December 31,
20252024
Current$6,471 $5,871 
Total$6,471 $5,871 
During the six months ended June 30, 2025, we recognized revenue of $3.0 million that was included as a contract liability as of December 31, 2024. During the six months ended June 30, 2024, we recognized revenue of $3.3 million that was included as a contract liability as of December 31, 2023. The increase in contract liabilities in the six months ended June 30, 2025 was primarily due to collections from a new customer for performance obligations that will be satisfied during 2025. Total unused credits related to the non-cash agreement described above included in contract liabilities at June 30, 2025, and December 31, 2024 were $1.2 million and $1.4 million, respectively. Unused credits expire one year after issuance. There were no credits that expired in the six months ended June 30, 2025 or 2024.
A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following table represents the total transaction price for the remaining performance obligations as of June 30, 2025 related to non-cancellable contracts longer than 12 months in duration that is expected to be recognized over future periods.
Within 1 YearYears 1-2Years 2-3Thereafter
Remaining performance obligations$8,478 $3,165 $7,000 $24,000