Q2 revenue more than doubled to $19M (up 143% y/y), driven by execution of 2024 contract wins (customer A & F) and milestone progress in Chile. First half revenues totaled $27M, up 27% y/y.
Data revenue grew 26% y/y to $8.5M, implying a $40-45M annual run rate through 2026.
Infrastructure contributed $10M to the topline (~60% of revenue), supported by contracted bookings of $31.2M in 2025 and $29.6M in 2026. We reaffirm our forecast at $34M in 2025 (up 22% y/y) and $40M in 2026