Core Viewpoint - Satellogic Inc. has successfully closed a registered direct offering of 7,399,578 shares of Class A Common Stock, raising approximately $35 million to strengthen its balance sheet and support ongoing commercial momentum [1][3]. Financing Details - The offering was conducted with a single institutional investment manager, with Titan Partners acting as the lead placement agent and Craig-Hallum as the co-placement agent [2]. - The net proceeds from the offering will be allocated towards growth initiatives, satellite infrastructure, working capital, and general corporate purposes [3]. Commercial Momentum - The financing follows significant commercial achievements, including an $18 million satellite sale to the Government of Portugal and a seven-figure monitoring agreement with a strategic customer [4]. - The company has also been involved in enhancing Australia's sovereign space capabilities, indicating a growing demand for its services [4]. Strategic Developments - The appointment of Jeffrey Kerridge as SVP Sales in Q4 2025 is part of the company's strategy to enhance its sales capabilities and reflects the increasing adoption of its services [5]. - CEO Emiliano Kargieman emphasized that the recent financing and commercial wins indicate a strong start to 2026, with expectations for accelerated growth and enhanced in-orbit capabilities [6]. Company Overview - Founded in 2010, Satellogic is a vertically integrated Earth observation company that designs, manufactures, and operates satellite systems, providing decision-grade insights to government and commercial customers [8]. - The company's integrated approach allows for predictable satellite deployment and persistent coverage, enabling proactive decision-making for various sectors [9].

Core Viewpoint - Satellogic Inc. has announced a public offering of 27,692,308 shares of Class A common stock at a price of $3.25 per share, aiming to raise approximately $90 million in gross proceeds before expenses [1][2] Group 1: Offering Details - The offering includes a 30-day option for underwriters to purchase an additional 4,153,846 shares on the same terms [1] - The expected closing date for the offering is around October 17, 2025, pending customary closing conditions [1] - The net proceeds from the offering will be used for general corporate purposes [2] Group 2: Underwriters and Management - Cantor and Titan Partners Group are serving as joint bookrunning managers for the offering, with Craig-Hallum and Northland Capital Markets as co-managers [2] Group 3: Company Background - Founded in 2010, Satellogic is a vertically integrated geospatial company focused on providing high-resolution Earth Observation data [5] - The company's mission is to democratize access to geospatial data to address global challenges such as climate change, energy supply, and food security [6] - Satellogic has a proven track record in satellite deployment and delivering high-quality data at competitive prices [7]

Core Insights - Satellogic Inc. has entered a strategic multi-year partnership with Suhora, granting exclusive rights to provide its high-resolution Earth Observation data in India and Nepal, marking a significant expansion in market access [1][4] - The partnership aims to deliver high-frequency, high-resolution geospatial data, enabling government and commercial users to tackle pressing challenges with timely insights [2][3] Group 1: Partnership Details - The agreement is described as a seven-figure deal, emphasizing the financial commitment and strategic importance of the collaboration [1] - Suhora will utilize its local expertise to tailor the capabilities of Satellogic's satellite data to meet the specific needs of the Indian market [3] Group 2: Applications and Impact - The partnership is expected to enhance urban and infrastructure development, natural resource management, disaster response, and climate change mitigation in India [3] - The collaboration will democratize access to critical geospatial insights, providing cost-effective and high-capacity data to address national challenges [4] Group 3: Company Background - Satellogic, founded in 2010, is a vertically integrated geospatial company focused on providing accessible and affordable Earth Observation solutions [5] - The company aims to address global challenges such as climate change, energy supply, and food security through its high-resolution imaging technology [5] Group 4: Suhora Overview - Suhora Technologies, established in 2018, specializes in dual-use space-based Intelligence, Surveillance, and Reconnaissance solutions, integrating satellite imagery with AI-driven analytics [6] - The company supports defense forces, disaster agencies, and commercial sectors by transforming Earth Observation data into actionable intelligence [6]

Financial Performance - Revenue for the three months ended March 31, 2025, increased by $0.1 million, or 2%, to $3.4 million compared to $3.3 million for the same period in 2024, driven primarily by a $0.4 million increase in imagery ordered by Asset Monitoring customers, partially offset by a $0.4 million decrease in revenue from the Space Systems business line [5][10] - The company ended the quarter with $17.7 million in cash, a decrease from $22.5 million at the end of 2024, and reduced cash used in operations by $5.4 million, or 53%, compared to the same period in 2024 [4][10] - Net loss for the three months ended March 31, 2025, increased by $17.4 million to $32.6 million, compared to a net loss of $15.2 million for the same period in 2024, primarily due to an increase in the change in fair value of financial instruments [10][15] Cost Management - Cost of sales decreased by $0.1 million, or 5%, to $1.2 million for the three months ended March 31, 2025, driven by lower Space Systems costs, while selling, general, and administrative expenses decreased by $2.9 million, or 31%, to $6.5 million [5][10] - Engineering expenses decreased by $1.9 million, or 43%, to $2.5 million for the same period, attributed to workforce reductions and other expense control measures [5][10] Strategic Developments - The company completed its domestication to the U.S. and secured a $30 million contract for an AI-first constellation, alongside a $20 million registered direct offering, enhancing its liquidity position [2][3] - Management anticipates that revenue for 2025 will largely depend on closing opportunities within the Space Systems line of business, which is expected to contribute significant cash flow and strong gross margins [4][10] Non-GAAP Financial Measures - Non-GAAP Adjusted EBITDA loss for the three months ended March 31, 2025, improved by $3.1 million to $6.1 million from a loss of $9.1 million for the same period in 2024, primarily due to increases in revenue and decreases in operating expenses [10][12] - The company defines Non-GAAP EBITDA as net loss excluding interest, income taxes, depreciation, and amortization, with a reported Non-GAAP EBITDA loss of $29.2 million for the period [6][7]