For the three months ended September 30, 2020, Earth Intelligence segment revenues decreased to $274 million from $282 million, or by $8 million, compared to the same period of 2019. The decrease was primarily driven by a $10 million decrease in the recognition of revenue related to the EnhancedView Contract. The amortization of the deferred revenue was complete effective August 2020 and there will be no further deferred revenue recognized on the EnhancedView Contract. The decrease was also driven by the recognition of $9 million of revenue from an international customer due to a delayed contract signing for the three months ended 2019 that did not reoccur for the same period of 2020. These decreases were partially offset by $9 million in revenue growth from new contract awards and expansion of existing programs with the U.S. government.

Adjusted EBITDA decreased to $128 million from $145 million, or by $17 million, for the three months ended September 30, 2020, as compared to the same period of 2019. The decrease was primarily driven by a decrease in revenues as noted above and an increase in cost of services and selling, general, and administrative expenses.

Space Infrastructure
		Three Months Ended							Nine Months Ended
		September 30,							September 30,
		2020			2019				2020				2019
($ millions)
Revenues	$	181		$	162			$	497			$	553
Adjusted EBITDA	$	12		$	(3	)		$	(16	)		$	2
Adjusted EBITDA Margin		6.6	%		(1.9	)	%		(3.2	)	%		0.4	%

« Previous Page 1 | 2 | 3 | 4 | 5  Next Page »