¹ This is a non-GAAP financial measure. Refer to section “Non-GAAP Financial Measures” in this earnings release.

Earth Intelligence

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2022				2021				2022				2021
($ millions)
Revenues	$	284			$	283			$	535			$	533
Adjusted EBITDA	$	129			$	131			$	228			$	238
Adjusted EBITDA margin (as a % of total revenues)		45.4	%			46.3	%			42.6	%			44.7	%

Revenues from the Earth Intelligence segment increased to $284 million from $283 million, or by $1 million, for the three months ended June 30, 2022, compared to the same period in 2021. The increase was primarily driven by a $3 million increase in revenues from the U.S. government and a $3 million increase in revenues from commercial programs. The increase in revenues from the U.S. government was primarily due to a $23 million increase in high margin imagery solutions revenues partially offset by a $20 million decrease in geospatial service revenues from U.S. government customers. These increases in revenues were partially offset by a $5 million decrease in revenues from international defense and intelligence customers.

Adjusted EBITDA decreased to $129 million from $131 million, or by $2 million, for the three months ended June 30, 2022, compared to the same period of 2021. Higher revenues and favorable mix to revenues from higher margin offerings were offset by increased spending, including on development of our offerings, our ERP project investment and other selling, general and administrative costs.

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