Q2 FY2026 EarningsQ2 FY26 performance significantly beat top-line expectations with revenue of $15.9M vs. the $9.6M consensus, driven by a sharp 259% YoY increase in Space Systems satellite sales and Data & Analytics imagery. While operational efficiency improved, resulting in an Adjusted EBITDA beat, GAAP Net Loss missed consensus due to a $19.7M non-cash fair value remeasurement of financial instruments. Management's strategic transition toward a sovereign-trusted architecture and the upcoming Merlin constellation launch remain key growth catalysts.