Company: SATLW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001874315-25-000014
Chunk: 34

Company: Satellogic Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 1
Chunk 34
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, these conditions raise substantial doubt about the Company’s ability to continue as a going concern.The accompanying unaudited Condensed Consolidated Financial Statements have been prepared assuming we will continue as a going concern. The going concern basis of presentation assumes that we will continue in operation one year 

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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) 

after the date these unaudited Condensed Consolidated Financial Statements are issued, and we will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. If we cannot continue as a going concern, adjustments to the carrying values and classification of our assets and liabilities and the reported amounts of income and expenses could be required and could be material. We are continuing to take actions to secure sufficient financing (as described above) and thus believe that the application of the going concern assumption for the preparation of the Condensed Consolidated Financial Statements is appropriate. 

2. Summary of Significant Accounting Policies

Credit risk managementCredit risk is the risk that a counterparty fails to discharge an obligation to us. We are exposed to credit risk from financial assets including cash, cash equivalents and restricted cash held at banks, trade and other receivables.The credit risk is managed based on our credit risk management policies and procedures. Credit risk of any entity doing business with us is systematically analyzed, including aspects of a qualitative nature. The measurement and assessment of our total exposure to credit risk covers all financial instruments involving any counterparty risk.The credit risk in respect of cash balances held with banks and deposits with banks are managed via diversification of bank deposits and are only with major reputable financial institutions.As our risk exposure is mainly influenced by the individual characteristics of each customer, we continuously analyze the creditworthiness of significant customers. Accounts receivable are non-interest bearing and generally on terms of 30 to 90 days. As of June 30, 2025, three customers accounted for 60% of accounts receivable, net of allowance. As of December 31, 2024, two customers accounted for 70% of our accounts receivable net of allowance.We had three customers that each accounted for more than 10% of our revenue totaling $3.1 million for the three months ended June 30, 2025 and three customers that each accounted for more than 10% of our revenue totaling $2.5 million for the three months ended