Annual report [Section 13 and 15(d), not S-K Item 405]

Segment Reporting

v3.25.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Reporting Disclosure Segment Reporting
The Company has one operating and reportable segment - flight services. The flight services revenue primarily includes consideration received for our performance of customer-directed flights and on-base operations for various DOD agencies. The accounting policies of the flight services segment are the same as those described in the summary of significant accounting policies. Substantially all Company’s fixed assets are located in the United States and all of the Company’s revenue is from the DOD in the United States.
As the Company has a single reportable segment and is managed on a consolidated basis, the measure of segment profit or loss is consolidated net loss as reported in the consolidated statement of operations. The Company does not have intra-entity sales or transfers.
The significant segment expense categories and amounts for the flight services segment are as follows (in thousands):
Flight services segment
Year Ended December 31, 2024
Revenue:
Flight services $ 136 
Operating expenses:
People related costs, excluding stock based compensation expense (316,485)
Stock-based compensation expense (104,446)
Other segment items (1)
(187,239)
Net loss $ (608,034)
(1) Other segment items comprise primarily of depreciation and amortization, materials used in research & development activities, government grants (presented as a reduction of research and development expenses), professional services and other overhead expenses, gain (loss) from change in fair value of warrants & earnout shares, and interest and other income, net.