Company: SATLW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001874315-25-000014
Chunk: 36

Company: Satellogic Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 1
Chunk 36
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, respectively and for the six months ended June 30, 2025 and 2024, lease expense was $0.8 million and $1.1 million, respectively. The decrease in lease expense was due primarily to the 2024 termination of a facility lease in the Netherlands. Lease obligations and right of use assets increased as of June 30, 2025 compared to December 31, 2024 due primarily to new ground station antenna leases in the six months ended June 30, 2025. Accounts Receivable and Allowance for Credit LossesAccounts are written off against the allowance for credit losses account when they are determined to be no longer collectible. The following table shows the activity in the allowance for credit losses for the six months ended June 30, 2025 and 2024:June 30,20252024Allowance for credit losses as of beginning of year$148 $126 Provision (8)47Write offs(11)— Recoveries collected(41)(59)Allowance for credit losses as of end of period$88 $114 Cash, Cash Equivalents and Restricted CashJune 30,December 31,20252024Cash and cash equivalents$32,569 $22,493 Restricted cash included in Other non-current assets1,010 1,189 Total cash, cash equivalents and restricted cash$33,579 $23,682 Cash Flow InformationThree Months Ended June 30,Six Months Ended June 30,2025202420252024Cash paid during the period for:Income tax, net of refunds$146 $1,974 $302 $1,974 Interest$3 $2 $1,673 $11 

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Table of ContentsSATELLOGIC INC. Notes to Condensed Consolidated Financial Statements (in thousands of U.S. dollars, except share and per share information, unless otherwise stated) 

June 30,20252024Supplemental cash flow informationUnpaid property and equipment included in accounts payable$375 $1,064 Research and Development

For the three months ended June 30, 2025 and 2024 research and development expenses were $1.2 million and $2.3 million, respectively and for the six months ended June 30, 2025, and 2024 were $2.6 million and $4.5 million, respectively. 

3. Accounting Standards Updates