F
ea
tsp
ace
,
I
n
c
.
1
Q
26
E
a
rn
i
n
g
s
P
r
e
s
e
nt
a
t
i
on
2026-03-31
CEO
:
M
a
r
c
us
C
he
n
·
CFO
:
P
r
i
y
a
R
a
m
a
n
T
icke
r
:
NASDAQ
:
FSPC
1
Featspace, Inc.
1Q26 Earnings Presentation
2026-03-31
CEO: Marcus Chen · CFO: Priya Raman Ticker: NASDAQ: FSPC
S
afe
H
a
r
b
or
S
t
a
t
e
m
e
nt
T
hi
s
pr
e
s
e
nt
a
t
i
on
c
ont
ai
ns
f
orw
a
r
d
-
loo
ki
n
g
st
a
t
e
m
e
nts
w
i
t
hi
n
t
he
m
ea
n
i
n
g
o
f
t
he
P
r
i
v
a
t
e
S
ec
ur
i
t
ie
s
L
i
t
iga
t
i
on
R
ef
orm
A
c
t
o
f
1995.
A
c
tu
a
l
r
e
sults
m
a
y
diffe
r
m
a
t
e
r
ia
lly
.
N
on
-
GAAP
m
ea
sur
e
s
a
r
e
r
ec
on
ci
l
ed
i
n
t
he
A
pp
e
n
di
x
.
2
Safe Harbor Statement
This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially. Non-GAAP measures are reconciled in the Appendix.
Q
1
2026
H
igh
l
igh
ts
T
ot
a
l
R
e
v
e
nu
e
:
$
150
M
(28.2
%
Y
o
Y
)
F
i
rst
non
-
GAAP
op
e
r
a
t
i
n
g
i
n
c
om
e
:
$
2.5
M
D
a
t
a
S
e
rv
ice
s
:
$
95
M
r
e
v
e
nu
e
,
fi
rst
s
eg
m
e
nt
op
e
r
a
t
i
n
g
pro
fi
t
S
p
ace
S
yst
e
ms
:
$
55
M
r
e
v
e
nu
e
,
2
l
a
un
che
s
C
onst
e
ll
a
t
i
on
:
265
op
e
r
a
t
i
n
g
s
a
t
e
ll
i
t
e
s
3
Q1 2026 Highlights
- Total Revenue: $150M (28.2% YoY)
- First non-GAAP operating income: $2.5M
- Data Services: $95M revenue, first segment operating profit
- Space Systems: $55M revenue, 2 launches
- Constellation: 265 operating satellites
F
i
n
a
n
cia
l
S
umm
a
ry
M
e
tr
ic
1
Q
26 1
Q
25
Y
o
Y
T
ot
a
l
R
e
v
e
nu
e
$
150
M
$
117
M
+28.2
%
GAAP O
p
I
n
c
om
e
$
(8.0)
M
— —
N
on
-
GAAP O
p
I
n
c
om
e
$
2.5
M
— —
SBC
$
10.5
M
— —
4
Financial Summary
| Metric | 1Q26 | 1Q25 | YoY |
|---|---|---|---|
| Total Revenue | $150M | $117M | +28.2% |
| GAAP Op Income | $(8.0)M | — | — |
| Non-GAAP Op Income | $2.5M | — | — |
| SBC | $10.5M | — | — |
D
a
t
a
S
e
rv
ice
s
:
S
eg
m
e
nt
O
v
e
rv
ie
w
S
u
b
s
c
r
i
pt
i
on
-
ba
s
ed
acce
ss
to
our
E
a
rt
h
o
b
s
e
rv
a
t
i
on
i
m
age
ry
a
n
d
de
r
i
v
ed
a
n
a
lyt
ic
s
.
F
i
rst
s
eg
m
e
nt
-
l
e
v
e
l
op
e
r
a
t
i
n
g
pro
fi
t
t
hi
s
qu
a
rt
e
r
.
P
r
i
m
a
ry
v
e
rt
ica
ls
:
ag
r
ic
ultur
e
,
fi
n
a
n
cia
l
s
e
rv
ice
s
,
i
nsur
a
n
ce
,
lo
gi
st
ic
s
,
a
n
d
g
ov
e
rnm
e
nt
i
nt
e
ll
ige
n
ce
.
5
Data Services: Segment Overview
Subscription-based access to our Earth observation imagery and derived analytics. First segment-level operating profit this quarter.
Primary verticals: agriculture, financial services, insurance, logistics, and government intelligence.
D
a
t
a
S
e
rv
ice
s
P
&
L
1
Q
26 1
Q
25
Y
o
Y
R
e
v
e
nu
e
$
95
M
$
70
M
+35.7
%
O
p
e
r
a
t
i
n
g
I
n
c
om
e
$
9.5
M
—
n
/
m
O
p
e
r
a
t
i
n
g
M
a
r
gi
n
10.0
%
— —
6
Data Services P&L
| 1Q26 | 1Q25 | YoY | |
|---|---|---|---|
| Revenue | $95M | $70M | +35.7% |
| Operating Income | $9.5M | — | n/m |
| Operating Margin | 10.0% | — | — |
D
a
t
a
S
e
rv
ice
s
KPI
s
ARR
:
$
360
M
N
e
t
R
e
v
e
nu
e
R
e
t
e
nt
i
on
:
118
%
T
ot
a
l
C
ustom
e
rs
:
1085
G
ov
e
rnm
e
nt
:
310
C
omm
e
r
cia
l
:
775
7
Data Services KPIs
- ARR: $360M
- Net Revenue Retention: 118%
- Total Customers: 1085
- Government: 310
- Commercial: 775
S
p
ace
S
yst
e
ms
:
S
eg
m
e
nt
O
v
e
rv
ie
w
S
a
t
e
ll
i
t
e
m
a
nu
fac
tur
i
n
g
,
i
nt
eg
r
a
t
i
on
,
a
n
d
l
a
un
ch
s
e
rv
ice
s
prov
ided
to
g
ov
e
rnm
e
nt
a
n
d
c
omm
e
r
cia
l
t
hi
r
d
-
p
a
rty
c
ustom
e
rs
.
S
eg
m
e
nt
r
e
m
ai
ns
i
n
op
e
r
a
t
i
n
g
loss
a
s
pro
d
u
c
t
i
on
ca
p
aci
ty
s
ca
l
e
s
.
8
Space Systems: Segment Overview
Satellite manufacturing, integration, and launch services provided to government and commercial third-party customers. Segment remains in operating loss as production capacity scales.
S
p
ace
S
yst
e
ms
P
&
L
1
Q
26 1
Q
25
Y
o
Y
R
e
v
e
nu
e
$
55
M
$
47
M
+17.0
%
O
p
e
r
a
t
i
n
g
I
n
c
om
e
$
(7.0)
M
— —
O
p
e
r
a
t
i
n
g
M
a
r
gi
n
-12.7
%
— —
9
Space Systems P&L
| 1Q26 | 1Q25 | YoY | |
|---|---|---|---|
| Revenue | $55M | $47M | +17.0% |
| Operating Income | $(7.0)M | — | — |
| Operating Margin | -12.7% | — | — |
S
p
ace
S
yst
e
ms
KPI
s
S
a
t
e
ll
i
t
e
s
M
a
nu
fac
tur
ed
:
18
L
a
un
che
s
:
2
C
ontr
ac
t
B
ack
lo
g
:
$
540
M
10
Space Systems KPIs
- Satellites Manufactured: 18
- Launches: 2
- Contract Backlog: $540M
O
p
e
r
a
t
i
on
a
l
M
e
tr
ic
s
O
p
e
r
a
t
i
n
g
S
a
t
e
ll
i
t
e
s
:
265
D
ai
ly
I
m
agi
n
g
C
a
p
aci
ty
:
3,400,000
k
m
²
/
da
y
G
e
o
g
r
a
p
hic
C
ov
e
r
age
:
92
%
o
f
g
lo
ba
l
l
a
n
d
m
a
ss
11
Operational Metrics
- Operating Satellites: 265
- Daily Imaging Capacity: 3,400,000 km²/day
- Geographic Coverage: 92% of global landmass
G
ov
e
rnm
e
nt
C
ustom
e
r
W
i
ns
NASA E
a
rt
h
S
cie
n
ce
D
i
v
i
s
i
on
:
$
48
M
mult
i
-
y
ea
r
i
m
age
ry
c
ontr
ac
t
NOAA
a
tmosp
he
r
ic
mon
i
tor
i
n
g
e
xt
e
ns
i
on
D
o
D
p
e
rs
i
st
e
nt
surv
ei
ll
a
n
ce
t
a
s
k
or
de
r
12
Government Customer Wins
- NASA Earth Science Division: $48M multi-year imagery contract
- NOAA atmospheric monitoring extension
- DoD persistent surveillance task order
C
omm
e
r
cia
l
C
ustom
e
r
W
i
ns
A
g
r
i
C
or
e
A
n
a
lyt
ic
s
:
$
22
M
t
h
r
ee
-
y
ea
r
da
t
a
su
b
s
c
r
i
pt
i
on
G
lo
ba
l
r
ei
nsur
e
r
ca
t
a
strop
he
mo
de
l
i
n
g
r
e
n
e
w
a
l
T
op
-
fi
v
e
lo
gi
st
ic
s
op
e
r
a
tor
n
e
w
de
ploym
e
nt
13
Commercial Customer Wins
- AgriCore Analytics: $22M three-year data subscription
- Global reinsurer catastrophe modeling renewal
- Top-five logistics operator new deployment
P
ro
d
u
c
t
R
o
ad
m
a
p
N
e
xt
-
ge
n
e
r
a
t
i
on
high
-
r
e
solut
i
on
s
a
t
e
ll
i
t
e
b
us
t
a
r
ge
t
i
n
g
2
H
26
fi
rst
l
a
un
ch
F
ea
tsp
ace
I
ns
igh
ts
AI
a
n
a
lyt
ic
s
pl
a
t
f
orm
GA
i
n
3
Q
26
E
xp
a
n
ded
h
yp
e
rsp
ec
tr
a
l
c
ov
e
r
age
v
ia
p
a
rtn
e
rs
hi
p
14
Product Roadmap
- Next-generation high-resolution satellite bus targeting 2H26 first launch
- Featspace Insights AI analytics platform GA in 3Q26
- Expanded hyperspectral coverage via partnership
2
Q
26
G
u
ida
n
ce
R
e
v
e
nu
e
:
$
158
M
–
$
165
M
N
on
-
GAAP O
p
I
n
c
om
e
:
pos
i
t
i
v
e
,
mo
de
stly
ab
ov
e
1
Q
26
15
2Q26 Guidance
- Revenue: $158M – $165M
- Non-GAAP Op Income: positive, modestly above 1Q26
F
Y
2026
G
u
ida
n
ce
(
R
ai
s
ed
)
P
r
i
or
N
e
w
R
e
v
e
nu
e
$
600–640
M
$
640–680
M
R
ai
s
e
r
ef
l
ec
ts
i
mprov
ed
v
i
s
ibi
l
i
ty
i
n
D
a
t
a
S
e
rv
ice
s
p
i
p
e
l
i
n
e
.
16
FY2026 Guidance (Raised)
| Prior | New | |
|---|---|---|
| Revenue | $600–640M | $640–680M |
Raise reflects improved visibility in Data Services pipeline.
B
a
l
a
n
ce
S
hee
t
S
umm
a
ry
B
a
l
a
n
ce
s
hee
t
r
e
m
ai
ns
stron
g
w
i
t
h
su
b
st
a
nt
ia
l
l
i
qu
idi
ty
to
f
un
d
g
rowt
h
i
n
i
t
ia
t
i
v
e
s
a
n
d
S
p
ace
S
yst
e
ms
pro
d
u
c
t
i
on
r
a
mp
.
17
Balance Sheet Summary
Balance sheet remains strong with substantial liquidity to fund growth initiatives and Space Systems production ramp.
C
a
s
h
F
low
H
igh
l
igh
ts
O
p
e
r
a
t
i
n
g
ca
s
h
f
low
pos
i
t
i
v
e
f
or
t
he
s
ec
on
d
c
ons
ec
ut
i
v
e
qu
a
rt
e
r
,
d
r
i
v
e
n
b
y
D
a
t
a
S
e
rv
ice
s
su
b
s
c
r
i
pt
i
on
bi
ll
i
n
g
s
.
18
Cash Flow Highlights
Operating cash flow positive for the second consecutive quarter, driven by Data Services subscription billings.
A
pp
e
n
di
x
:
N
on
-
GAAP O
p
I
n
c
om
e
R
ec
on
ci
l
ia
t
i
on
1
Q
26
GAAP O
p
e
r
a
t
i
n
g
I
n
c
om
e
(
L
oss
)
$
(8.0)
M
+
S
to
ck
-
B
a
s
ed
C
omp
e
ns
a
t
i
on
$
10.5
M
N
on
-
GAAP O
p
e
r
a
t
i
n
g
I
n
c
om
e
$
2.5
M
19
Appendix: Non-GAAP Op Income Reconciliation
| 1Q26 | |
|---|---|
| GAAP Operating Income (Loss) | $(8.0)M |
| + Stock-Based Compensation | $10.5M |
| Non-GAAP Operating Income | $2.5M |
A
pp
e
n
di
x
:
N
on
-
GAAP EPS R
ec
on
ci
l
ia
t
i
on
D
e
t
ai
l
ed
r
ec
on
ci
l
ia
t
i
on
a
v
ai
l
ab
l
e
i
n
10-
Q
fi
l
i
n
g
.
N
on
-
GAAP EPS
e
x
c
lu
de
s
sto
ck
-
ba
s
ed
c
omp
e
ns
a
t
i
on
a
n
d
a
mort
i
z
a
t
i
on
o
f
ac
qu
i
r
ed
i
nt
a
n
gib
l
e
s
.
20
Appendix: Non-GAAP EPS Reconciliation
Detailed reconciliation available in 10-Q filing. Non-GAAP EPS excludes stock-based compensation and amortization of acquired intangibles.
A
pp
e
n
di
x
:
S
eg
m
e
nt
D
e
t
ai
l
S
eg
m
e
nt
1
Q
26
R
e
v
1
Q
25
R
e
v
Y
o
Y
1
Q
26
O
p
I
n
c
D
a
t
a
S
e
rv
ice
s
$
95
M
$
70
M
+35.7
%
$
9.5
M
S
p
ace
S
yst
e
ms
$
55
M
$
47
M
+17.0
%
$
(7.0)
M
21
Appendix: Segment Detail
| Segment | 1Q26 Rev | 1Q25 Rev | YoY | 1Q26 Op Inc |
|---|---|---|---|---|
| Data Services | $95M | $70M | +35.7% | $9.5M |
| Space Systems | $55M | $47M | +17.0% | $(7.0)M |
