NEW YORK, June 18, 2025 (GLOBE NEWSWIRE) -- Satellogic, Inc. (NASDAQ: SATL), a leader in satellite manufacturing and high-resolution Earth observation data, is pleased to announce that Uzma Berhad, and by extension Satellogic as Uzma’s Technology Partner, has been selected as the successful bidder to lead the Malaysian High-Resolution Earth Observation Satellite Project (MHREOSP) for the Government of Malaysia. As a technology partner, Satellogic will design, develop, assemble, integrate and test a stat ...

Revenue of $3.4 million in 1Q 2025 Domestication to U.S. Completed Awarded $30 Million Contract for AI-First Constellation and Closed $20 Million Registered Direct Offering NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today provided a business update and reported its financial results for the three months ended March 31, 2025. “The year is off to a great start with our recent announcements in April relat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 __________________________ FORM 10-Q __________________________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-41247 __________________________ Satellogi ...

DAVIDSON, N.C., May 12, 2025 (GLOBE NEWSWIRE) -- Satellogic Inc. (NASDAQ: SATL), a leader in high-resolution Earth observation data, announced today it has entered into a multi-million dollar agreement with an Asia Pacific customer. The agreement provides the customer with rapid, flexible tasking of Satellogic’s NewSat constellation, enabling prompt delivery of imagery to support a range of applications. This agreement underscores the value and reliability of Satellogic’s satellite imagery for critical appl ...

NEW YORK, April 16, 2025 (GLOBE NEWSWIRE) -- Satellogic Inc. (NASDAQ: SATL), a leader in high-resolution Earth observation data, announced today that it has closed the purchase and sale of 6,451,612 shares of the Company’s Class A Common Stock at a purchase price of $3.10 in a registered direct offering pursuant to a definitive share purchase agreement entered into with a certain institutional investor on April 15, 2025. Cantor Fitzgerald & Co. acted as the exclusive placement agent for the offering. The gr ...

Core Insights - The article discusses the performance of Satellogic (NASDAQ: SATL), which has seen a 6% decline in stock value since a strong sell rating was issued in December [2]. Group 1: Company Performance - Satellogic reported its full-year results, which may indicate a more positive outlook for the company moving forward [2]. Group 2: Industry Context - The investing group, The Aerospace Forum, aims to identify investment opportunities within the aerospace, defense, and airline sectors, highlighting the industry's significant growth prospects [2]. - The analysis provided by the group is informed by data-driven insights, which are crucial for understanding the complexities of the aerospace industry [2].

Core Insights - Satellogic Inc. has secured a multi-year contract worth $30 million to provide near-daily, ultra-low latency analytics to a defense and security customer, leveraging its AI-first satellite constellation [1][2][3] - The satellite constellation is designed to run AI algorithms in real-time, enabling advanced surveillance applications such as rapid change monitoring and detection of defense targets [2][3] - The CEO of Satellogic emphasized the company's commitment to rapid innovation and enhancing strategic decision-making for international defense customers [3] Group 1: Contract and Capabilities - The contract will enable Satellogic to deliver multiband optical imagery, enhancing operational responsiveness and decision-making capabilities for defense and security applications [1][2] - The constellation's features include high-quality multispectral imagery and rapid on-orbit processing, allowing for quick detection of changes in military asset positioning and infrastructure [3] Group 2: Company Background - Founded in 2010, Satellogic is recognized as the first vertically integrated geospatial company, focusing on providing high-resolution Earth observation data [5] - The company's mission is to democratize access to geospatial data, addressing global challenges such as climate change and food security through its advanced imaging technology [6][5]

Financial Performance - Total revenue for the year ended December 31, 2024, was $12.87 million, a 28% increase from $10.07 million in 2023[80] - North America contributed $7.90 million to total revenue in 2024, up from $3.48 million in 2023, representing a 127% increase[80] - As of December 31, 2024, the company reported an accumulated deficit of $400.1 million and net cash used in operating activities of $35.9 million[175] - The company had cash and cash equivalents of $22.5 million as of December 31, 2024, and will continue to incur losses until a sufficient number of customers and contracts are onboarded[175] - In 2024, two customers accounted for more than 10% of total revenue, while in 2023, four customers accounted for 10% of total revenue, indicating a reliance on a small number of customers[181] Business Operations and Strategy - The company has 22 satellites in orbit as of the report date, with 20 operational and two in testing, aiming for a long-term constellation size of approximately 200 satellites[73] - The company plans to reshape the high-resolution Earth observation (EO) business model by leveraging superior unit economics, aiming to tap into an estimated $140 billion market opportunity[96] - The company anticipates that its Constellation-as-a-Service (CaaS) line of business will provide a strong recurring revenue base in the government and defense market over time[78] - The Asset Monitoring business is expected to be the most predictable revenue stream and a primary driver of future growth[76] - The company plans to expand its commercial platform, which is expected to become the industry standard for geospatial analysis, leveraging unique data sets and partnerships[118] Market and Competitive Landscape - The global satellite manufacturing and sales market is valued at approximately $76 billion from 2021 to 2030, with around 80 countries and 80 commercial organizations investing in EO-related programs[97] - The market for Earth Observation (EO) services is still emerging, and the company faces competition from larger, more experienced service providers[177] - The company faces competition from various entities, including commercial satellite imagery companies and state-owned providers, which may limit its ability to gain market share[207] - Increased competition could lead to fewer customer contracts and reduced margins, adversely affecting the company's business and financial condition[212] Technology and Innovation - The company has a vertically integrated satellite manufacturing capability, allowing it to produce and launch satellites for less than one-tenth the cost of competitors[73] - The NewSat Mark-V satellite model has a mass of less than 50 kilograms, costs approximately $1 million including launch, and has a daily imaging capacity of over 300,000 square kilometers[149] - Satellogic's innovative camera design allows for the collection of over 10 times more data than other small-satellite designs, enhancing operational flexibility[145] - The company has 37 issued patents and 45 pending patent applications, continuing to invest in R&D to maintain high-resolution imaging capabilities[147] Risks and Challenges - The company is in the process of winding down operations in China, which may impact its ability to secure contracts with certain government agencies[178] - The company faces risks from geopolitical changes and government spending priorities that could impact defense-related contracts[184] - The operational life of satellites is anticipated to be approximately three years, and shorter useful lives could lead to delays in commercial payloads and declines in revenue[225] - The company does not maintain in-orbit lifecycle insurance, which means any damage to satellites in orbit could have a significant adverse effect on financial condition[240] - Natural disasters and geopolitical events pose risks to business operations and satellite launch schedules, potentially disrupting services[243] Regulatory and Compliance - The company is subject to NOAA's oversight after obtaining an operator's license in November 2023, as it pivots operational control of its satellite constellation to U.S. personnel[153] - The company is subject to stringent U.S. export and import control laws, and any unfavorable changes could materially affect business operations[254] - The inability to secure necessary export authorizations could hinder the company's ability to compete effectively and operate as planned[256] - Changes in export control regulations may restrict operations and impact the ability to secure necessary licenses[257] Future Outlook - The company aims to democratize access to geospatial data, driving better decision-making across industries by providing insights at the lowest cost in the industry[103] - The company intends to pursue acquisitions of complementary technologies and products as part of its growth strategy, but integration challenges could disrupt operations and impact results[203] - The company plans to build a constellation of over 200 satellites, but faces risks related to production scaling, including potential delays and increased costs[186] - The company anticipates experiencing seasonality in its business, with fluctuations in operating results due to customer behavior and usage-based contracts[119]

Core Viewpoint - Satellogic Inc. has completed its domestication process, transitioning from the British Virgin Islands to Delaware, which is expected to enhance visibility and growth opportunities in the U.S. market [1]. Company Overview - Founded in 2010, Satellogic is the first vertically integrated geospatial company, focusing on providing planetary-scale insights through a fully automated Earth observation platform [2]. - The company's mission is to democratize access to geospatial data, addressing critical global issues such as climate change, energy supply, and food security [3]. - Satellogic has over a decade of experience in space, demonstrating proven technology and a strong track record in satellite deployment and data delivery [4]. Strategic Realignment - The strategic realignment as a U.S. company is anticipated to improve investor and customer visibility and position the company to compete for U.S. and allied government contracts [1].

Core Insights - Satellogic Inc. reported a revenue increase of 28% to $12.9 million for the year ended December 31, 2024, compared to $10.1 million in 2023, driven by a $5 million increase in imagery orders from Asset Monitoring customers [9][6][2] - The company is nearing completion of its redomicile to the U.S., which is expected to enhance market opportunities and investor transparency [6][5] - Satellogic completed a $10 million private placement and entered into a $50 million At-The-Market (ATM) program to strengthen its capital position [5][6] Financial Performance - Revenue for 2024 was $12.9 million, up from $10.1 million in 2023, with significant contributions from Asset Monitoring ($9.5 million) and Space Systems ($1.8 million) [9][7] - Cost of sales remained flat at $5.0 million, resulting in a cost of sales percentage of 39% for 2024, down from 50% in 2023 [9][6] - Selling, General and Administrative expenses decreased by 6% to $33.0 million, primarily due to workforce reductions and cost control measures [9][6] Strategic Developments - A pivotal agreement with Maxar Intelligence was established, granting exclusive rights to task Satellogic's satellite constellation for U.S. Government national security missions [3][4] - Satellogic was selected by NASA for a contract under the Commercial SmallSat Data Acquisition Program, with a maximum value of $476 million for all awardees, highlighting its commitment to high-quality Earth observation data [4][6] - The company reduced its workforce by 104 full-time equivalents, incurring approximately $2.0 million in severance charges, which is expected to yield annual savings of about $9.6 million [6][9] Cash Flow and Liquidity - Cash on hand at the end of 2024 was $22.5 million, a slight decrease from $23.5 million at the end of 2023 [9][6] - Net cash used in operating activities decreased to $35.9 million in 2024 from $49.6 million in 2023, attributed to workforce reductions and cost control initiatives [9][6]