Total revenues from the Imagery segment were $211.4 million in the first quarter of 2018 compared to $7.7 million in the same period of 2017. The increase is primarily due to the inclusion of the financial results of the acquired DigitalGlobe imagery business that contributed $201.9 million of revenue and $133.5 million of adjusted EBITDA in the first quarter of 2018.
Adjusted EBITDA margin percentage from the Imagery segment for the three months ended March 31, 2018 was 65.3% compared to 39.0% for the same period of 2017. The increase in margin percentage reflects the blend of margins from the acquired DigitalGlobe imagery business.
Notable bookings in the Imagery segment in the first quarter of 2018 included:
- A contract extension and expansion of a multi-year agreement with a major commercial technology customer.
- The renewal of two contracts with existing International Defense & Intelligence customers to provide imagery through the Direct Access Program.
Services Results
| Reported | ||||||||||||
| Three months ended | ||||||||||||
| March 31, | ||||||||||||
| 2018 | 2017 | |||||||||||
| ($ millions) | ||||||||||||
| Revenue | $ | 70.0 | $ | 25.4 | ||||||||
| Adjusted EBITDA 1 | $ | 7.1 | $ | 4.0 | ||||||||
| Adjusted EBITDA Margin 1 | 10.1 |
% |
|
15.7 | % | |||||||
