Financial Data and Key Metrics Changes - The company generated a record revenue of $244.4 million for the full year, representing an 11% year-over-year growth [10] - Non-GAAP gross margin for the year was a record 60%, up from 54% a year ago [10] - Adjusted EBITDA loss for the full year was approximately $10.6 million, significantly improved from a loss of $55.3 million in the previous fiscal year [38] - Q4 revenue reached a record $61.6 million, reflecting approximately 5% year-over-year growth [30] - Non-GAAP gross margin for Q4 was a record 65%, compared to 58% in Q4 of the previous fiscal year [37] Business Line Data and Key Metrics Changes - Revenue from the Defense and Intelligence sector grew more than 20% year-over-year [31] - Civil government revenue grew approximately 15% year-over-year [20] - The commercial sector experienced a decline of more than 10% year-over-year but showed signs of stabilization [32] Market Data and Key Metrics Changes - EMEA revenue grew more than 15% year-over-year, while Latin America revenue grew approximately 30% [32] - Asia Pacific revenue grew nearly 15%, and North America revenue grew approximately 5% year-over-year [32] Company Strategy and Development Direction - The company shifted to a vertically focused go-to-market structure, emphasizing selling solutions rather than just data [9] - A landmark $230 million commercial agreement was signed with JSAT, marking a significant step in the satellite services market [11] - The company aims to be a leading provider of geospatial data and solutions while expanding into satellite services [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive cash flow within the next 24 months, leveraging a strong balance sheet without needing to raise additional capital [47] - The geopolitical environment is seen as an opportunity for growth, particularly in national security solutions [75] - The company anticipates significant growth potential across all regions, driven by new satellite data and solutions [34] Other Important Information - The company ended the fiscal year with approximately $222 million in cash and cash equivalents, significantly reducing cash burn [39] - The backlog increased to approximately $498.5 million, up 115% quarter-over-quarter, providing a solid foundation for growth [43] Q&A Session Summary Question: Can you elaborate on free cash flow dynamics and assumptions for 2026? - Management indicated that they are in a peak CapEx investment cycle, expecting cash burn to be roughly half compared to the previous year, with a path to cash flow profitability over the next 24 months [51][52] Question: How do you plan to monetize the AI partnership with Anthropic? - The focus is on building AI-enabled solutions that can drive immediate revenue, while the partnership is seen as an accelerant for future growth [55][56] Question: Will the revenue guidance account for the current political situation in Washington? - Management has taken a conservative approach to guidance, reflecting potential risks from macro pressures and customer usage patterns [71] Question: What is the strategy for monetizing satellite services outside of the JSAT contract? - The company plans to leverage the additional capacity from the JSAT partnership to monetize satellite services globally, while also pursuing other strategic partnerships [68] Question: How will the focus on larger customers impact net dollar retention rates? - The strategy is to focus on larger accounts, which may initially lower net dollar retention rates but is expected to improve as the average customer size increases [90]