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 |
% |
|||
