Revenue and Profitability - Revenue for FY 2023 increased by 68% to $10.1 million, compared to $6.0 million in FY 2022, driven primarily by Space Systems and Asset Monitoring businesses [12]. - Gross profit for FY 2023 was $5.0 million, an 84% increase from $2.7 million in FY 2022, with a gross margin of 50%, up from 45% in the prior year [13]. - Satellogic reported revenue of $10,074,000 for the year ended December 31, 2023, a 67% increase from $6,012,000 in 2022 [38]. - The net loss available to stockholders for 2023 was $61,018,000, compared to a net loss of $36,641,000 in 2022, reflecting a 67% increase in losses [38]. - Basic loss per share for the period attributable to stockholders was $(0.68) in 2023, compared to $(0.44) in 2022 [38]. Cash and Assets - Cash on hand at the end of 2023 was $23.5 million, down from $76.5 million at the end of 2022 [18]. - Cash and cash equivalents decreased to $23,476,000 as of December 31, 2023, down from $76,528,000 in 2022, representing a 69% decline [40]. - Total assets decreased to $76,382,000 in 2023 from $143,855,000 in 2022, a reduction of 47% [40]. - Cash, cash equivalents, and restricted cash at the end of the period stood at $24,603,000, a decrease from $77,792,000 at the end of 2022 [42]. Expenses and Cost Management - The total costs and expenses for 2023 were $79,477,000, down from $96,879,000 in 2022, indicating an 18% reduction [38]. - Satellogic's general and administrative expenses were $23,500,000 in 2023, down from $37,191,000 in 2022, a decrease of 37% [38]. - Research and development expenses were $10,656,000 in 2023, down from $13,055,000 in 2022, reflecting an 18% decrease [38]. - Headcount reduction of approximately 25% is expected to result in annual savings of about $7.5 million in 2024 [9]. - The company incurred $14,885,000 in capital expenditures for property and equipment, down from $27,252,000 in the previous year, indicating a reduction in investment [42]. Strategic Initiatives - The company received a $30 million strategic investment from Tether Investments Limited to support its U.S. strategy [5]. - A remote sensing license was granted by NOAA, allowing the company to expand its operations and compete for U.S. government contracts [4]. - The company plans to redomicile to Delaware in 2024 to better position itself for U.S. market opportunities [4]. - The company anticipates targeting new U.S. government contract opportunities in 2024, in addition to its existing international pipeline [4]. - The company plans to redomicile in the U.S. and is focused on expanding its commercial and governmental applications for its technology [37]. Losses and Financial Management - Net loss for FY 2023 increased to $61.0 million, compared to a net loss of $36.6 million in FY 2022 [16]. - Non-GAAP Adjusted EBITDA loss for FY 2023 decreased to $44.1 million from $56.0 million in FY 2022, primarily due to increased revenue and cost control measures [17]. - The company experienced a change in fair value of financial instruments resulting in a loss of $6,474,000, a significant improvement from the loss of $58,311,000 in 2022 [42]. - The company reported a foreign exchange difference expense of $10,933,000, which was higher than the $4,578,000 reported in 2022 [42]. - The company reported a loss on debt extinguishment of $0, compared to $37,216,000 in 2021, indicating improved debt management [42].

Financial Condition - As of December 31, 2023, the company has an accumulated deficit of $283.8 million and net cash used in operating activities of $49.6 million for the year [81]. - The company currently has cash and cash equivalents of $23.5 million, indicating potential liquidity challenges [81]. - As of December 31, 2023, the company had cash and cash equivalents of $23.5 million and an accumulated deficit of $283.8 million, raising substantial doubt about its ability to continue as a going concern [125]. - The company has significant capital expenditure requirements to expand its satellite constellation and product offerings, and may not be able to raise adequate capital to finance these strategies [122]. - The company may incur additional indebtedness, which could further increase risk exposure and complicate its ability to execute business strategies [167]. - The company has $30 million in aggregate principal amount of Secured Convertible Notes maturing on April 12, 2028, and its ability to service this debt depends on future performance [166]. - The conversion of the Secured Convertible Notes could result in the holder owning approximately 21.6% of the Class A ordinary shares and 20.5% of the voting power, potentially leading to significant dilution for existing shareholders [169]. - The company faces significant expenses and administrative burdens as a public entity, which could adversely affect its financial condition and operational results [242]. Revenue Generation and Customer Dependency - In 2023, four customers accounted for more than 10% of total revenue, while in 2022, two customers accounted for 10% of total revenue, highlighting dependency on a small number of clients [78]. - The sales cycle for the company's services is long and unpredictable, which can significantly impact revenue generation efforts [79]. - The company has not demonstrated a sustained ability to generate revenues since its inception, relying heavily on equity and debt financing [73]. - The anticipated benefits of the company's Domestication may not materialize, leading to increased compliance costs [69]. - Future contracts with U.S. governmental agencies may be subject to significant regulations, which could impact revenue if U.S. government spending decreases [190]. - Government contracts may allow for unilateral termination or modification, which could limit the company's ability to recover costs and profits [198]. Operational Risks and Challenges - The company is facing significant risks related to its ability to scale production of satellites and meet customer demands [66]. - The company is dependent on third parties for satellite components and services, which poses risks to its operational capabilities [66]. - The company faces challenges in scaling satellite production due to potential delays and increased costs associated with construction and supply chain management [92]. - The company’s ability to meet customer contracts may be jeopardized by production constraints, potentially leading to reduced sales and reputational damage [96]. - The company faces risks from production and launch delays, which could materially impact financial results and operational capabilities [140]. - The inability to repair or replace defective satellites in a timely manner could result in substantial revenue loss and penalties under customer contracts [138]. - The company does not maintain in-orbit lifecycle insurance, exposing it to significant financial risks from satellite damage or destruction while in orbit [147]. - Coordination with the ITU and other satellite operators is necessary to avoid interference, and failure to do so may limit service capabilities [150]. - Adverse weather conditions can hinder satellite data collection, affecting the quality and volume of imagery delivered to customers [154]. Market and Competitive Landscape - 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 in the EO services sector [111]. - The market for EO services is still emerging and may not achieve the expected growth potential, which could materially affect the company's financial results [129]. - Increased competition may result in fewer customer contracts, price reductions, and reduced margins, adversely impacting the company's business operations [116]. - The market acceptance of the company's services is uncertain, and failure to keep pace with technological changes could adversely affect business performance [102]. Regulatory and Compliance Issues - The company is subject to stringent U.S. export and import control laws, and any unfavorable changes could materially impact its business and financial condition [183]. - The inability to secure necessary export authorizations could limit the company's ability to launch satellites from certain locations, leading to increased costs and operational challenges [184]. - The company is subject to various U.S. federal export-control statutes, which may affect its business with international defense customers and could lead to competitive disadvantages [191]. - Changes in export control regulations could restrict the company's operations and require additional approvals, impacting its ability to compete effectively [185]. - The company is subject to extensive and evolving government laws and regulations, which could materially affect its operations and financial performance [203]. - Compliance with various laws and regulations places a significant burden on management's resources, potentially limiting the company's expansion capabilities [203]. Technology and Intellectual Property - The company must continuously invest in technology improvements and new product development to remain competitive in the rapidly evolving market [103]. - The company currently holds 30 issued patents, two issued utility models, and has 49 patent applications pending across nine jurisdictions, which are critical for protecting its technology [223]. - The company’s intellectual property rights may be challenged or infringed upon, which could negatively impact its competitive advantage and operations [226]. - Data breaches or incidents involving the company's technology could harm its reputation and business results [227]. Human Resources and Management - The company relies on a specialized workforce, and competition for hiring engineers and data scientists is intense, which could hinder its growth strategy if it fails to attract and retain qualified personnel [236]. - The loss of key personnel could materially adversely affect the company's operations and financial results if replacements are not secured [248]. - The company may become involved in litigation that could divert management's attention and resources, incurring significant expenses or liabilities [238]. Cybersecurity and Geopolitical Risks - The ongoing geopolitical conflicts, such as those in Ukraine and Gaza, have heightened the risk of sophisticated cyber attacks on the company's infrastructure and operations [231]. - The company has implemented a disaster recovery plan, but there are concerns that it may be inadequate in the event of significant operational disruptions [232]. - The company expects to maintain cyber liability insurance, but there is uncertainty regarding the adequacy of coverage for potential liabilities [230]. - The company has not experienced a cybersecurity incident that materially impacted its business strategy or financial results to date, but any future incidents could adversely affect its reputation and operations [228]. Corporate Governance and Shareholder Issues - The dual-class structure of the company's ordinary shares concentrates voting control with certain stockholders, potentially limiting other stockholders' influence on corporate matters [249]. - The dual class structure of the company's Ordinary Shares may result in adverse publicity and could affect the market price and trading volume of Class A ordinary shares [250]. - The company has faced opposition from stockholder advisory firms regarding its dual class share structure, which may lead to negative commentary on its corporate governance practices [250]. - The effectiveness of internal controls over financial reporting is crucial, as failure to maintain these controls could adversely affect the company's business and stock price [260]. - The company is not required to report on the effectiveness of internal controls until it ceases to qualify as an "emerging growth company," which could take up to five years [255]. - The lack of research coverage from securities analysts could negatively impact the trading volume and price of the company's securities [252]. - The company may face challenges in implementing the additional requirements of the Sarbanes-Oxley Act, which could harm investor confidence and affect the market price of Class A ordinary shares [260].

Revenue Performance - Revenue for the six months ended June 30, 2023, was $3,184,000, representing a 33.4% increase from $2,388,000 in the same period of 2022[4] - Revenue from two customers totaled $2.6 million for the six months ended June 30, 2023, compared to $2.0 million for the same period in 2022[45] - Revenue from North America rose from $521,000 in 2022 to $1,879,000 in 2023, marking a 260.5% increase[83] - The company recognized revenue of $0.1 million from contract liabilities during the six months ended June 30, 2023[84] Financial Losses - Operating loss improved to $(36,311,000) in 2023 compared to $(49,487,000) in 2022, reflecting a 26.6% reduction in losses[4] - Net loss available to common stockholders increased to $(29,851,000) in 2023 from $(8,121,000) in 2022, a rise of 268.5%[4] - Net loss for the six months ended June 30, 2023, was $29,851 thousand, compared to a net loss of $8,121 thousand for the same period in 2022, representing a significant increase in losses[15] - The company reported a loss before income tax of $27.727 million for the six months ended June 30, 2023, compared to a loss of $5.978 million for the same period in 2022[105] Cash and Liquidity - Cash and cash equivalents decreased to $41,978,000 as of June 30, 2023, down from $76,528,000 at the end of 2022, a decline of 45.1%[7] - Total cash, cash equivalents, and restricted cash at the end of the period was $43,126 thousand, down from $124,300 thousand at the end of the previous year[15] - As of June 30, 2023, the company has cash and cash equivalents of $42.0 million, which are deemed insufficient to fund operations and capital expenditures for larger scale revenue generation[27] - The company continues to evaluate its ability to operate as a going concern, with management assessing conditions that may raise substantial doubt about its future operations[25] Assets and Liabilities - Total assets decreased to $108,895,000 as of June 30, 2023, from $143,855,000 at December 31, 2022, a decrease of 24.3%[7] - Total liabilities decreased to $29,650,000 as of June 30, 2023, from $37,657,000 at December 31, 2022, a reduction of 21.3%[7] - Stockholders' equity decreased to $79,245,000 as of June 30, 2023, from $106,198,000 at December 31, 2022, a decline of 25.4%[7] Stock and Equity - Basic net loss per share for the period attributable to common stockholders was $(0.33) in 2023, compared to $(0.13) in 2022[4] - The number of basic weighted-average common shares outstanding increased to 89,326,172 in 2023 from 62,094,383 in 2022, an increase of 43.8%[4] - The total stock-based compensation expense for the six months ended June 30, 2023, was $2.84 million, a decrease from $4.49 million in the same period of 2022[124] - The number of outstanding stock options decreased from 6,067,313 as of December 31, 2022, to 5,523,272 as of June 30, 2023, with a weighted average exercise price of $1.70[121] Operational Activities - Cash used in operating activities for the six months ended June 30, 2023, was $26,313 thousand, an improvement from $34,487 thousand in the prior year[15] - The company incurred $9,928 thousand in cash used for investing activities, down from $15,682 thousand in the previous year, indicating a decrease in capital expenditures[15] - Lease expenses for the six months ended June 30, 2023, were $1.3 million, an increase from $0.9 million for the same period in 2022[62] Financial Instruments and Fair Value - The company reported a change in fair value of financial instruments resulting in a loss of $5,580 thousand in 2023, compared to a loss of $44,596 thousand in 2022, showing improved financial instrument performance[15] - The fair value of Liberty Warrants and Liberty Advisory Fee Warrant decreased from $30.9 million to $2.3 million as of June 30, 2023[88] - The PIPE Warrant's fair value decreased from $1.3 million to $0.1 million as of June 30, 2023[89] Capital Raising and Future Outlook - The company plans to raise additional funds through equity or debt financing to achieve profitability, but there is uncertainty regarding the availability and terms of such financing[28] - There is substantial doubt about the company's ability to continue as a going concern for one year from the issuance date of the financial statements due to the need for additional capital[30] - The company continues to seek opportunities to raise additional capital through the issuance of equity or debt securities to alleviate financial uncertainties[29] Customer Concentration - Two customers accounted for 84% of accounts receivable, net of allowance, as of June 30, 2023, indicating a high concentration of credit risk[44]

Financial Condition - As of December 31, 2022, the company has an accumulated deficit of $222.8 million and net cash used in operating activities of $68.5 million for the year ended December 31, 2022[63]. - The company currently has cash and cash equivalents of $76.5 million, indicating ongoing financial challenges until sufficient customer contracts are onboarded[63]. - The company has not demonstrated a sustained ability to generate revenues, which poses a risk to its financial condition and future prospects[62]. - The company is heavily reliant on equity and debt financing to fund operations, with a significant pipeline of potential contracts that need to be converted into actual revenues[64]. - The company expects ongoing liquidity requirements to be met by cash on hand and generated from operations, but future revenue growth is critical for long-term liquidity[105]. - The company may not be able to raise adequate capital to finance business strategies, which could restrict operational capabilities[103]. - The company does not expect to declare any dividends in the foreseeable future, which may affect investor interest[60]. Revenue Generation and Customer Dependency - In 2022, two customers accounted for more than 10% of total revenue, highlighting the risk of dependency on a small number of clients[68]. - The sales cycle for the company's offerings is long and unpredictable, requiring significant time and expense to educate potential customers about the value of its services[69]. - The company began recognizing revenues in 2021 and has entered into a three-year defense-related contract with the government of Albania as part of its growth strategy[70]. - Revenue for the year ended December 31, 2022, was $6.012 million, up from $4.247 million in 2021, with significant growth in North America and Asia Pacific[243]. Business Operations and Risks - The company operates a fleet of 34 satellites in orbit, having launched 13 satellites in late 2020, and is focusing on expanding sales efforts to government defense and intelligence agencies[64]. - The company faces risks related to third-party dependencies for satellite launches and ground station operations, which could adversely impact business operations[58]. - The company is expanding into new business lines, which may introduce unforeseen risks and challenges[58]. - The company relies on third-party vendors for satellite components and launch services, and any disruptions could materially affect its business and financial condition[77][79]. - The company is monitoring raw material prices and supply chain disruptions, as prolonged issues could adversely impact operating results and cash flows[81]. - The successful development and operation of satellites are subject to uncertainties, including technological difficulties and potential delays[110]. - The company may incur substantial expenses and significant delays in revenue generation if a satellite is lost or damaged during launch[123]. Market and Competitive Landscape - The market for Earth Observation (EO) services is characterized by rapid technological change, and the company must keep pace to remain competitive[85]. - The company faces competition from various entities in the geospatial intelligence market, including commercial satellite imagery companies and state-owned providers, which may limit market share growth[92]. - The market for geospatial intelligence and related data analytics is still emerging and may not achieve the anticipated growth potential, impacting financial results[111]. - Increased competition may lead to fewer customer contracts, price reductions, and reduced margins, adversely affecting business operations[97]. Regulatory and Compliance Issues - The company is subject to extensive and evolving government regulations, which could materially affect sales, profitability, and cash flows if compliance is not maintained[155]. - Changes in U.S. export control regulations could restrict operations and require additional licenses, impacting business continuity[140]. - The company may face increased compliance burdens and costs due to potential future contracts with U.S. government and defense contractors[146]. - Compliance with evolving laws and regulations is costly and may require changes in operational practices, impacting overall business strategy[161]. Intellectual Property and Cybersecurity - The company currently holds 26 issued patents, 2 issued utility models, and has 47 patent applications pending across nine jurisdictions[170]. - There is a risk that pending patent applications may not result in patents being issued, which could adversely affect the company's ability to prevent others from exploiting similar products[170]. - Data breaches or incidents involving the company's technology could significantly harm its business, reputation, and operational results[175]. - The company has implemented multiple layers of security measures to protect its data and systems, but remains vulnerable to sophisticated cyber threats[176]. Management and Organizational Structure - The company relies on the expertise of its senior management and skilled personnel, and failure to attract or retain such talent could adversely impact growth[186]. - The company has incurred significant expenses and administrative burdens as a public company, which could adversely affect its business and financial condition[191]. - The dual class structure of the company's common stock concentrates voting control, potentially deterring beneficial change of control transactions[196]. - The company is classified as an "emerging growth company," allowing it to take advantage of reduced disclosure requirements, which may affect investor attractiveness[205]. Future Growth and Strategic Plans - The company plans to build a constellation of over 200 satellites, but faces risks in scaling production, including potential delays and increased costs due to various factors[73][75]. - The company intends to pursue acquisitions as part of its growth strategy, but faces risks related to integration and management focus[89]. - The company plans to leverage its superior unit economics to reshape the high-resolution Earth observation market, targeting an estimated $140 billion market opportunity[247]. - The global satellite manufacturing and sales market is valued at approximately $76 billion between 2021 and 2030, presenting a significant growth opportunity for the company[248].

SATELLOGIC. SATL | Nasdaq Listed Disclaimers and Other Important Information This presentation (this "Presentation") was prepared solely by, and is being provided by, Satellogic Inc. ("Satellogic" or the "Company") for informational purposes only. By reviewing or reading this Presentation, you will be deemed to have agreed to the obligations and restrictions set out below. This Presentation and any oral statements made in connection with this Presentation do not constitute an offer to sell, or a solicitatio ...

Exhibit 99.1 - Satellogic's Unaudited Condensed Consolidated Financial Statements Index to Unaudited Condensed Consolidated Financial Statements | Condensed | | Consolidated | Statements | of | Operations | | and | Comprehensive | | Loss | for | the six | months | | ended | June | 30, | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2022 | and | 2021 | | | | | | | | | | | | | | | | | 2 | | Condensed | | Consolidated | Balance | ...

SATELLOGIC 1 LD MICRO VIRTUAL INVITATIONAL XII JUNE 2022 Rick Dunn SATL | Nasdaq Listed LEGAL DISCLAIMER Disclaimers and Other Important Information This presentation (this "Presentation") was prepared solely by, and is being provided by, Satellogic Inc. ("Satellogic" or the "Company") for informational purposes only. By reviewing or reading this Presentation, you will be deemed to have agreed to the obligations and restrictions set out below. This Presentation and any oral statements made in connection wit ...

INVESTOR PRESENTATION MAY 2022 1 SATELL OGIC: SATL | Nasdag Listed LEGAL DISCLAIMER Disclaimers and Other Important Information This presentation (this "Presentation") was prepared solely by, and is being provided by, Satellogic Inc. ("Satellogic" or the "Company") for informational purposes only. By reviewing or reading this Presentation, you will be deemed to have agreed to the obligations and restrictions set out below. This Presentation and any oral statements made in connection with this Presentation d ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 20-F WASHINGTON, D.C. 20549 (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF ...