Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 44

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 44
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) financing activities1,684 (184)Net change in cash, cash equivalents and restricted cash$(4,951)$(12,241)

Cash Flows Used in Operating Activities 

The cash flows used in operating activities to date have been primarily comprised of costs and expenses related to development of our products, payroll, fluctuations in accounts payable and other current assets and liabilities. As we continue to expand our commercial operations, we anticipate our cash used in operating activities will remain elevated until we begin to generate material cash flows from the business. 

Cash flows used in operating activities are as follows: 

(in thousands of US dollars) Three Months Ended March 31,20252024Net loss$(32,581)$(15,178)Adjustments for the impact of non-cash items (1)24,188 4,587 Net loss adjusted for the impact of non-cash items(8,393)(10,591)Changes in assets and liabilitiesAccounts receivable(2)(21)(932)Prepaid expenses and other current assets(3)830 (377)Accounts payable(4)569 1,764 Other(5)2,293 21 Net cash used in operating activities$(4,722)$(10,115)

(1)Includes items such as depreciation, changes in the fair value of financial instruments, interest expense, income tax, stock-based compensation expense, expense for estimated credit losses on accounts receivable, changes in foreign currency and others. 

(2)The change is primarily due to higher accounts receivable from our commercial space technology customer. 

(3)The change is primarily due to higher prepaid expenses from software licenses and higher advances to suppliers. 

(4)The change is primarily due to the timing of payments. 

(5)The change is primarily due to timing of payments, net of an increase in contract liabilities for new revenue contracts. 

Cash Flows Used in Investing Activities 

Our cash flows used in investing activities to date have been primarily comprised of purchases of satellite components and other property and equipment. Investing activities have increased substantially as we ramped up satellite production activity and factory development in connection with expanding our production capacity.

Net cash used in investing activities $1.9 million for the three months ended March 31, 2025, was flat compared to $1.9 million for the three months ended March 31, 2024. Cash control measures implemented in 2023 limited the number of launches in both periods. 

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Cash Flows Provided