Company: SATLW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001874315-25-000014
Chunk: 117

Company: Satellogic Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 117
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1,253)(40)%Total costs and expenses10,725 18,178 (7,453)(41)%Operating loss(6,285)(14,677)8,392 (57)%Other (expense) income, netInterest income, net285 307 (22)(7)%Change in fair value of financial instruments(312)(4,272)3,960 (93)%Other (expense) income, net(380)896 (1,276)(142)%Total other (expense) income, net(407)(3,069)2,662 (87)%Loss before income tax(6,692)(17,746)11,054 (62)%Income tax benefit (expense)40 (355)395 (111)%Net loss$(6,652)$(18,101)$11,449 (63)%

Revenue

During the three months ended June 30, 2025, revenue increased $0.9 million, or 27% to $4.4 million from $3.5 million for the three months ended June 30, 2024, driven primarily by a $0.6 million increase in imagery ordered by new and existing Asset Monitoring customers, and a $0.4 million increase in revenue generated from the Space Systems business line. Revenue for the three months ended June 30, 2025 included $3.5 million attributable to our Asset Monitoring line of business, $0.5 million attributable to our Space Systems line of business, and $0.4 million attributable to our CaaS line of business compared to $3.0 million, $0.1 million and $0.4 million, respectively, in the prior year. 

Cost of sales

Cost of sales, exclusive of depreciation, decreased $0.1 million, or 5%, to $1.2 million for the three months ended June 30, 2025 from $1.2 million for the three months ended June 30, 2024. The decrease was driven primarily by lower cloud services costs, partially offset by higher antenna lease costs.

33

Selling, general and administrative expenses

Three Months Ended June 30, 20252025 vs 2024(in thousands of U.S. dollars)20252024$ Change% ChangeSelling, general and administrativeProfessional fees related to Secured Convertibles Notes$— $1,426 $(1,426)(100)%Professional fees886 2,369