Net loss increased to $29.5 million in 2025 from $17.5 million in 2024, a 68% increase. Total revenue decreased by 28% to $3.38 million in 2025 from $4.67 million in 2024. Gross profit turned into a loss of $5.7 million in 2025, compared to a loss of $1.5 million in 2024, a 288% decrease. Operating expenses rose by 57% to $22.3 million in 2025, primarily due to increased headcount, mission control expenses, and a $4.5 million impairment loss on LS1. Successfully launched LizzieSat-3 (LS-3) on March 14, 2025, adding the third satellite to its on-orbit fleet. Expanded intellectual property with 15 issued patents and 11 pending applications as of fiscal year 2025. Amended and extended the Lonestar Holdings lunar satellite manufacturing contract, increasing its total value to $120 million. Secured a ten-year Indefinite Delivery / Indefinite Quantity (IDIQ) contract with Tobyhanna Army Depot (TYAD) for fabrication and support services. Named a contract awardee under the Missile Defense Agency (MDA) Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) IDIQ, with a total potential ceiling of $151 billion. Raised approximately $53.3 million in net proceeds from public offerings between July and December 2025. Cash on hand increased to $43.2 million as of December 31, 2025, from $15.7 million in 2024. Working capital surplus increased to $35.7 million as of December 31, 2025, from $8.0 million in 2024. Management concluded that internal control over financial reporting was not effective as of December 31, 2025, due to identified areas needing remediation.