NYSE: HAWK

HawkEye 360, Inc.

CIK 0001750704 · SIC 7374 · Computer Processing & Data Preparation

Mid by assets Assets $904M as of Sep 13, 2026

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10-Q Filed Aug 14, 2026 · Period ending Jun 30, 2026 Red flag

HAWK posts -$15.3M net loss in first quarter as public company despite revenue doubling to $49.8M

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8-K Filed Aug 13, 2026 · Period ending Aug 13, 2026

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8-K Filed Jun 22, 2026 · Period ending Jun 22, 2026

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10-Q Filed Jun 22, 2026 · Period ending Mar 31, 2026

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8-K Filed May 21, 2026 · Period ending May 18, 2026

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8-K Filed May 8, 2026 · Period ending May 8, 2026

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S-1/A Filed May 1, 2026 Red flag

HawkEye 360 files for IPO, plans to sell 16M shares at $25.00 each to raise $400M gross

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Latest financial statements

From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Condensed Consolidated Statements of Operations (Unaudited)

(in thousands except share and per share amounts)

Description Three months ended June 30, 2026 Three months ended June 30, 2025 Six months ended June 30, 2026 Six months ended June 30, 2025
Revenue 48,441 23,168 93,382 41,053
Revenue from related parties 1,369 3,458 6,226 8,575
Total revenue 49,810 26,626 99,608 49,628
Operating expenses:
Direct cost of sales, excluding depreciation and amortization 14,850 4,988 30,930 9,859
Indirect cost of sales and other expenses, excluding depreciation and amortization 4,608 321 8,948 669
Selling, general and administrative 25,011 8,805 43,122 16,740
Research and development 8,244 5,860 17,415 12,766
Depreciation and amortization 8,643 5,856 16,356 10,856
Total operating expenses 61,356 25,830 116,771 50,890
Income (loss) from operations (11,546) 796 (17,163) (1,262)
Other income (expense):
Interest income 2,869 948 3,669 1,854
Interest expense (919) (17) (2,251) (35)
Loss from changes in fair value of financial liabilities (2,778) (5,701)
Loss from extinguishment of debt (2,729) (2,729)
Other income (expense), net 100 (116) 163 (537)
Total other income (expense), net (3,457) 815 (6,849) 1,282
Income (loss) before benefit for income taxes (15,003) 1,611 (24,012) 20
Income tax expense (275) (255)
Net income (loss) (15,278) 1,611 (24,267) 20
Preferred stock dividend 10,925 (554) 10,376 (1,103)
Income allocated to participating securities (945)
Net income (loss) attributable to common shareholders (4,353) 112 (13,891) (1,083)
Net income (loss) per share of common stock, basic (0.07) 0.02 (0.39) (0.15)
Net income (loss) per share of common stock, diluted (0.07) 0.01 (0.39) (0.15)
Weighted-average shares outstanding, basic 61,924,756 7,392,011 35,290,038 7,312,496
Weighted-average shares outstanding, diluted 61,924,756 12,225,610 35,290,038 7,312,496

Condensed Consolidated Balance Sheets (Unaudited)

(in thousands, except per share and share amounts)

Description As of June 30, 2026 As of December 31, 2025
Assets
Current assets:
Cash and cash equivalents 503,355 92,686
Contract accounts receivable 45,868 32,320
Contract accounts receivable from related parties 20,969
Other accounts receivable 415 21
Inventory 4,275 4,025
Contract assets 12,550 4,639
Contract assets from related parties 4,748
Prepaid expenses and other current assets 6,689 9,183
Total current assets 573,152 168,591
Long-term assets:
Satellites, property and equipment, net 131,497 110,873
Intangibles, net 32,251 35,973
Goodwill 117,958 116,866
Operating lease right-of-use-assets 15,672 15,403
Deposits 26,032 35,932
Restricted cash 4,987 4,587
Other long-term assets 2,673 1,715
Total long-term assets 331,070 321,349
Total assets 904,222 489,940
Liabilities, mezzanine equity and stockholders’ equity (deficit)
Current liabilities:
Accounts payable 14,394 18,486
Accrued expenses and other current liabilities 18,274 5,017
Accrued compensation payable 7,648 10,511
Contract liabilities 14,639 3,262
Current tax payable 286
Current portion of operating lease liabilities 3,266 3,437
Total current liabilities 58,507 40,713
Long-term liabilities:
Long-term debt, net of unamortized debt issuance cost 46,315
Long term contract liabilities 18,985 19,892
Other liabilities 17,558 23,800
Deferred tax liabilities 945 977
Warrant liabilities 4,267
Operating lease liabilities, net of current portion 13,409 12,893
Total long-term liabilities 50,897 108,144
Total liabilities 109,404 148,857
Commitments and contingencies – Note 15
Mezzanine equity:
Redeemable, convertible preferred stock Series A $0.0001 par value, 0 and 24,947,154 shares authorized at June 30, 2026, and December 31, 2025, respectively, and 0 and 24,947,154 shares issued and outstanding at June 30, 2026, and December 31, 2025, respectively 34,174
Redeemable, convertible preferred stock Series B $0.0001 par value, 0 and 11,574,841 shares authorized at June 30, 2026, and December 31, 2025, respectively, and 0 and 11,574,841 shares issued and outstanding at June 30, 2026, and December 31, 2025, respectively 66,442
Redeemable, convertible preferred stock Series C $0.0001 par value, 0 and 6,960,439 shares authorized at June 30, 2026, and December 31, 2025, respectively, and, 0 and 6,960,439 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 48,761
Redeemable, convertible preferred stock Series D $0.0001 par value, 0 and 12,857,720 shares authorized at June 30, 2026, and December 31, 2025, respectively, and 0 and 12,857,720 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 136,715
Redeemable, convertible preferred stock Series D-1 –$0.0001 par value, 0 and 6,085,161 shares authorized at June 30, 2026, and December 31, 2025, respectively, and 0 and 6,085,161 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 58,894
Redeemable, convertible preferred stock Series E $0.0001 par value, 0 and 14,578,457 shares authorized at June 30, 2026, and December 31, 2025, respectively, and 0 and 5,567,364 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 102,600
Total mezzanine equity 447,586
Stockholders’ equity (deficit):
Common stock $.0001 par value, 2,000,000,000 shares authorized and 97,960,719 shares issued and outstanding at June 30, 2026 and 111,000,000 shares authorized and 4,168,374 shares issued and outstanding at December 31, 2025. 10 2
Additional paid-in-capital 964,916 39,336
Accumulated deficit (170,108) (145,841)
Total stockholders' equity (deficit) 794,818 (106,503)
Total liabilities, mezzanine equity, and stockholders’ deficit 904,222 489,940

Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

Description Six months ended June 30, 2026 Six months ended June 30, 2025
Cash flows from operating activities
Net income (loss) (24,267) 20
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization 16,356 10,856
Amortization of debt issuance costs and other noncash debt costs 494 34
Fair value loss on revaluation of warrants 4,471 537
Fair value loss on revaluation of deferred consideration 1,500
Fair value gain on revaluation of contingent consideration (270)
Loss from extinguishment of debt 2,729
Stock-based compensation 9,849 1,830
Amortization of operating lease right-of-use assets 2,161 2,164
Realized gain (loss) on short-term investments (12)
Changes in operating assets and liabilities, net of effect of acquisitions:
Contract accounts receivable (13,548) (6,356)
Contract accounts receivable from related parties 20,969 (1,401)
Other accounts receivable (394) (6)
Contract assets (4,907) (511)
Contract assets from related parties 1,212 1,087
Prepaid expenses and other assets (9,573) (1,317)
Operating lease liabilities (2,085) (2,118)
Accounts payable (6,856) (7,589)
Current tax payable 286
Accrued expenses and other liabilities 2,653 (2,215)
Deferred tax liabilities (32)
Accrued compensation payable (2,863)
Contract liabilities 10,470 2,116
Net cash provided by (used in) operating activities 8,355 (2,881)
Cash flows from investing activities
Proceeds from redemption of short-term investments 39,716
Purchase of satellites, property and equipment (10,295) (9,139)
Net cash provided by (used in) investing activities (10,295) 30,577
Cash flows from financing activities
Payment of debt issuance cost (85)
Exercise of warrants 202
Exercise of stock options 3,647 27
Proceeds from common stock in initial public offering 478,400
Payment of offering costs, including underwriting commissions (37,770)
Repayment of term loans (49,453)
Proceeds from issuance of preferred stock 18,774
Payment of preferred stock issuance costs (706)
Net cash provided by (used in) financing activities 413,009 27
Net increase in cash, cash equivalents and restricted cash 411,069 27,723
Cash, cash equivalents and restricted cash, beginning of period 97,273 71,766
Cash, cash equivalents and restricted cash, end of period 508,342 99,489
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents 503,355 94,902
Restricted cash 4,987 4,587
Total cash, cash equivalents and restricted cash at the end of the period 508,342 99,489

Amounts as printed on the EDGAR/iXBRL face — (in thousands except share and per share amounts); (in thousands, except per share and share amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

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