Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 177

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 7
Chunk 177
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968 (1,976)(6)%Engineering14,405 22,197 (7,792)(35)%Depreciation expense12,655 17,256 (4,601)(27)%Total costs and expenses65,076 79,477 (14,401)(18)%Operating loss(52,206)(69,403)17,197 (25)%Other (expense) income, netInterest income, net970 1,722 (752)(44)%Change in fair value of financial instruments(60,071)6,474 (66,545)(1028)%Other (expense) income, net(2,107)9,271 (11,378)(123)%Total other (expense) income, net(61,208)17,467 (78,675)(450)%Loss before income tax$(113,414)$(51,936)$(61,478)118 %Income tax expense(2,858)(9,082)6,224 (69)%Net loss$(116,272)$(61,018)$(55,254)91 %

Revenue

During the year ended December 31, 2024, revenue increased $2.8 million, or 28% to $12.9 million from $10.1 million for the year ended December 31, 2023, driven primarily by a $5.0 million increase in imagery ordered by new and existing Asset Monitoring customers, partially offset by a $2.2 million decrease in revenue generated from the Space Systems business line. Revenue for the year ended December 31, 2024 included $9.5 million attributable to our Asset Monitoring line of business, $1.8 million attributable to our Space Systems line of business, and $1.6 million attributable to our CaaS line of business compared to $4.5 million, $3.9 million and $1.6 million, respectively, in the prior year. 

Cost of sales

Cost of sales, exclusive of depreciation, decreased $32 thousand, or 1%, to $5.0 million for the year ended December 31, 2024 from $5.1 million for the year ended December 31, 2023. The decrease was primarily due to lower Space Systems costs on lower sales volume partially offset by higher cloud services costs associated with the higher asset monitoring volume. 

62

Selling, general and administrative expenses

Year Ended December 31,202