Imagery
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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September 30, |
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2019 |
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2018 |
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2019 |
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2018 |
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($ millions) |
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Revenues |
$ |
220 |
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$ |
210 |
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$ |
621 |
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$ |
633 |
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Adjusted EBITDA |
$ |
140 |
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$ |
129 |
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$ |
384 |
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$ |
396 |
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Adjusted EBITDA Margin |
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63.6 |
% |
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61.4 |
% |
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61.8 |
% |
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62.6 |
% |
Imagery segment revenues increased to $220 million from $210 million, or by $10 million, for the three months ended September 30, 2019, compared to the same period of 2018. The increase was primarily driven by the recognition of $9 million of revenue as a result of the signing of a previously delayed contract with an existing international customer, $11 million in revenue growth from the U.S. government and an increase in revenue from international governments. These increases were partially offset by the loss of $14 million of WorldView-4 revenues.
Adjusted EBITDA increased to $140 million from $129 million, or by $11 million, for the three months ended September 30, 2019, compared to the same period of 2018. The increase was primarily driven by the recognition of revenue as a result of the signing of a previously delayed contract with an existing international customer. Adjusted EBITDA was also impacted by a decrease in costs during the three months ended September 30, 2019, as compared to the same period of 2018.
