Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 68

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 68
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 and disclosed elsewhere in the Condensed Consolidated Financial Statements include: net (loss), total assets, total revenue, interest income, net, depreciation expense, equity in net income (loss) of affiliate, income tax expense, and equity in net income of affiliates accounted for by the equity method. In addition to depreciation expense other non-cash expenses include stock-based compensation disclosed on the statement of cash flows and a non-cash sales agreement described in Note 5 (Revenue from Contracts with Customers). Purchases of long lived assets include purchases of property and equipment disclosed in the condensed consolidated statement of cash flows and the acquisition of new operating lease right of use assets for the three months ended March 31, 2025 and 2024 of $6.5 million and $0, respectively. Total non-current assets also include an investment in equity method investee at March 31, 2025 and December 31, 2024  of $3.7 million and $3.7 million, respectively. Other segment items are primarily made up of the following items not considered to be significant expenses: depreciation expense, change in fair value of financial instruments, income tax expense, partially offset by foreign currency income adjustments and interest income, net.Operations for the Company’s segment were as follows:Three Months Ended March 31,20252024Revenue$3,387 $3,328 Cost of sales excluding depreciation(1,237)(1,305)Selling, general and administrative expenses(6,485)(9,389)Engineering(2,493)(4,387)Other segment items(25,753)(3,425)Net loss$(32,581)$(15,178)

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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) 

Revenue by geographic area is as follows(a):RevenuesThree Months Ended March 31,20252024U.S.$2,561 $1,576 Albania412 412 India13 732 All Other401 608 Total$3,387 $3,328 (a) Revenues are attributed to individual countries based on the location of the customer generating the revenue.

5. Revenue from Contracts with Customers

During the three months ended March 31, 2025, we recognized revenue of $3.4 million, of which $1.6 million was recognized over time and