Maxar Technologies Reports Second Quarter 2021 Results

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

Earth Intelligence

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

($ millions)

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

283

 

$

278

 

$

533

 

$

549

 

Adjusted EBITDA

$

131

 

$

146

 

$

238

 

$

279

 

Adjusted EBITDA margin (as a % of total revenues)

 

46.3

%

 

52.5

%

 

44.7

%

 

50.8

%

Revenues from the Earth Intelligence segment increased to $283 million from $278 million, or by $5 million, compared to the same period in 2020. The increase was primarily driven by a $24 million increase in revenue from international defense and intelligence customers, a $6 million increase from new commercial programs and a $5 million increase in revenue from new contracts with the U.S. government. These increases were partially offset by a $30 million decrease in the recognition of deferred revenue related to the EnhancedView Contract. We recognized $30 million of deferred revenue from the EnhancedView Contract for the three months ended June 30, 2020, compared to none for the three months ended June 30, 2021, as it was fully recognized as of August 31, 2020.

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