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H.S. sophomore Avg
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New words:
accurately, Alex, Appellant, Appellee, argument, bankruptcy, beam, brought, carrier, Chapter, Ciccotelli, contractor, declare, declared, declaring, deliverable, distressed, effectuate, fashion, fee, force, founder, fractional, Grabar, harbor, inconsistent, interface, issuable, Jeffrey, Joel, Justice, lawsuit, Layer, Lefkowitz, LLP, maneuverability, mediation, missile, moot, motivate, multiplying, nearest, Novermber, optical, oral, pace, petition, Preliminarily, prime, proceeding, prolonged, Purcell, quantify, reiterated, reliance, reorganization, reorganize, respond, responded, retain, Rigrodsky, scalable, SDA, Secretary, sensor, Stephen, strike, strong, supplemental, tailored, team, threatened, tracking, Tranche, transmit, trustee, voluntarily, wirelessly, Zalvin
Removed:
breadth, concentration, dollar, flying, requiring, shorter, top
Financial report summary
?Risks
- We have a limited history of delivering customer satellites into orbit using our service vehicles, and setbacks experienced during our initial mission or in future missions and other demonstration and commercial missions could have a material adverse effect on our business, financial condition and results of operation and could harm our reputation.
- We may not be able to convert our customer orders into revenue.
- We may not be able to continue as a going concern.
- We may fail to achieve the expected cost savings and related benefits from our reduction in workforce.
- The pursuit of additional capital and other strategic alternatives will consume a substantial portion of the time and attention of our management and require additional capital resources which may be disruptive to our business,and could have a material adverse effect on our business, financial condition and results of operations.
Management Discussion
- The revenue recognized during the three months ended September 30, 2023 was primarily driven by fulfillment of performance obligations to customers in connection with the Vigoride 5 hosted payload mission, resulting in $0.3 million of revenue recognition. The remaining less than $0.1 million of revenue recognized was for a customer deposit forfeiture upon contract expiration.
- The revenue recognized during the three months ended September 30, 2022 was due to the resolution of variable consideration uncertainties, relating to Vigoride anomalies and subsequent concessions, which had caused the Company to defer revenues pertaining to its first launch in May 2022, as well as forfeited customer deposits related to contract cancellations.
- The cost of revenue during the three months ended September 30, 2023 was due to the launch cost allocated to customer payloads on the Vigoride 5 mission. The Company allocated the cost of the launch proportionally based on payload weight.