Adjusted EBITDA is not a recognized term under generally accepted accounting principles, or GAAP, in the United States and may not be defined similarly by other companies. Adjusted EBITDA should not be considered an alternative to net income, as an indication of financial performance, or as an alternative to cash flow from operations as a measure of liquidity. There are limitations to using non-GAAP financial measures, including the difficulty associated with comparing companies that use similar performance measures whose calculations may differ from ours.

DigitalGlobe, Inc. Condensed Consolidated Balance Sheets (unaudited)
(in millions, except share and per share data)
ASSETS		December 31, 2009				March 31, 2010
CURRENT ASSETS:
Cash and cash equivalents		$	97.0			$	142.3
Restricted cash			7.3				7.3
Accounts receivable, net of allowance for doubtful accounts of $1.2 and $0.9, respectively			49.7				42.4
Prepaid and current assets			12.0				9.5
Income tax receivable			3.9				3.9
Deferred taxes			1.7				1.7
Total current assets			171.6				207.1
Property and equipment, net of accumulated depreciation of $361.1 and $389.9, respectively			891.0				877.8
Goodwill			8.7				8.7
Intangibles, net of accumulated amortization of $7.2 and $6.6, respectively			1.8				1.3
Aerial image library			5.4				4.3
Long-term restricted cash			16.7				16.1
Long-term deferred contract costs			36.2				41.4
Other assets, net			9.1				8.7
Total assets		$	1,140.5			$	1,165.4
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable		$	4.3			$	2.1
Accrued interest			6.2				15.5
Other accrued liabilities			17.9				19.8
Current portion of deferred revenue			32.8				39.0
Total current liabilities			61.2				76.4
Long-term accrued liability			-				8.5
Deferred revenue			239.6				231.1
Deferred lease incentive			5.4				5.2
Long-term debt			343.5				344.1
Long-term deferred tax liability			11.3				12.8
Total liabilities		$	661.0			$	678.1
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value; 24,000,000 shares authorized; no shares issued and outstanding at December 31, 2009 and March 31, 2010		$	-			$	-
Common stock; $0.001 par value; 250,000,000 shares authorized; 45,122,593 shares issued and outstanding at December 31, 2009 and 45,615,563 shares issued and outstanding at March 31, 2010			0.2				0.2
Treasury stock, at cost; 44,039 shares at December 31, 2009 and at March 31, 2010			(0.7	)			(0.7	)
Additional paid-in capital			496.0				502.3
Accumulated deficit			(16.0	)			(14.5	)
Total stockholders' equity			479.5				487.3
Total liabilities and stockholders' equity		$	1,140.5			$	1,165.4

DigitalGlobe, Inc. Condensed Consolidated Statements of Cash Flows (unaudited)
($ in millions)		For the Three Months Ended March 31,
		2009				2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	10.6			$	1.5
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense			18.7				29.1
Non-cash recognition of pre-FOC payments			(6.6	)			(6.4	)
Non-cash amortization			1.1				1.2
Non-cash stock compensation expense			2.3				1.4
Amortization of debt issuance costs			-				1.1
Deferred income taxes			6.0				1.6
Changes in:
Accounts receivable, net			(2.9	)			7.3
Accounts receivable from related party			(0.8	)			-
Aerial image library			(0.4	)			(0.1	)
Other assets			(2.1	)			2.3
Accounts payable			0.5				(1.6	)
Accounts payable and accrued liabilities to related parties			0.9				-
Accrued liabilities			(6.2	)			8.0
Deferred contract costs from related party			(0.7	)			-
Deferred contract costs			-				(5.3	)
Deferred revenue			3.8				4.0
Deferred revenue related party			1.9				-
Net cash flows provided by operating activities			26.1				44.1
CASH FLOWS FROM INVESTING ACTIVITIES:
Construction in progress additions			(15.6	)			(3.3	)
Other property, equipment and intangible additions			(2.1	)			(1.0	)
Settlements from derivative instrument			(0.1	)			-
Decrease in restricted cash			-				0.6
Net cash flows used in investing activities			(17.8	)			(3.7	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of debt, net of issuance costs			(0.7	)			-
Costs associated with initial public offering			(0.4	)			(0.3	)
Payments for repurchase of common stock			(0.1	)			-
Proceeds from exercise of stock options			-				5.2
Net cash flows provided by (used in) financing activities			(1.2	)			4.9
Net increase (decrease) in cash and cash equivalents			7.1				45.3
Cash and cash equivalents, beginning of period			60.8				97.0
Cash and cash equivalents, end of period		$	67.9			$	142.3
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for income taxes		$	0.3			$	0.1
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Changes to non-cash property and equipment accruals, including interest		$	22.6			$	14.3
Non-cash deferred financing costs incurred		$	0.2			$	-