¹ This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in this earnings release.

Earth Intelligence

	Three Months Ended									Nine Months Ended
	September 30,									September 30,
	2022				2021					2022				2021
($ millions)
Revenues	$	275			$	271			$	810			$	804
Adjusted EBITDA	$	115			$	124			$	343			$	362
Adjusted EBITDA margin (as a % of total revenues)		41.8	%			45.8	%			42.3	%			45.0	%

Revenues from the Earth Intelligence segment increased to $275 million from $271 million, or by $4 million, for the three months ended September 30, 2022, compared to the same period in 2021. The increase was primarily driven by a $15 million increase in revenues from the U.S. government, including $11 million from crisis support services, and a $3 million increase in revenues from international defense and intelligence customers. These increases in revenues were partially offset by a $14 million decrease in revenues from commercial programs primarily driven by revenue recognized from a significant commercial contract in the third quarter of 2021.

Adjusted EBITDA decreased to $115 million from $124 million, or by $9 million, for the three months ended September 30, 2022, compared to the same period of 2021. The decrease was primarily driven by increased spending, including on marketing and sales costs of $5 million, IT costs of $4 million, our ERP project of $3 million and other selling, general and administrative costs partially offset by higher revenues.

Space Infrastructure

	Three Months Ended									Nine Months Ended
	September 30,									September 30,
	2022				2021					2022				2021
($ millions)
Revenues	$	186			$	180			$	549			$	541
Adjusted EBITDA	$	33			$	14			$	71			$	29
Adjusted EBITDA margin (as a % of total revenues)		17.7	%			7.8	%			12.9	%			5.4	%

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7  Next Page »