Earth Intelligence
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
||||||
|
|
June 30, |
|
|
June 30, |
|
||||||
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
($ millions) |
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
$ |
283 |
|
$ |
278 |
|
$ |
533 |
|
$ |
549 |
|
Adjusted EBITDA |
$ |
131 |
|
$ |
146 |
|
$ |
238 |
|
$ |
279 |
|
Adjusted EBITDA margin (as a % of total revenues) |
|
46.3 |
% |
|
52.5 |
% |
|
44.7 |
% |
|
50.8 |
% |
Revenues from the Earth Intelligence segment increased to $283 million from $278 million, or by $5 million, compared to the same period in 2020. The increase was primarily driven by a $24 million increase in revenue from international defense and intelligence customers, a $6 million increase from new commercial programs and a $5 million increase in revenue from new contracts with the U.S. government. These increases were partially offset by a $30 million decrease in the recognition of deferred revenue related to the EnhancedView Contract. We recognized $30 million of deferred revenue from the EnhancedView Contract for the three months ended June 30, 2020, compared to none for the three months ended June 30, 2021, as it was fully recognized as of August 31, 2020.
