Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 64

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 64
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646 $1,814 19 %Costs and expensesCost of sales, exclusive of depreciation shown separately below3,597 3,782 (185)(5)%Selling, general and administrative18,259 25,590 (7,331)(29)%Engineering7,449 11,522 (4,073)(35)%Depreciation expense6,037 9,523 (3,486)(37)%Total costs and expenses35,342 50,417 (15,075)(30)%Operating loss(23,882)(40,771)16,889 (41)%Other (expense) income, netInterest income, net734 782 (48)(6)%Change in fair value of financial instruments(10,791)(4,961)(5,830)118 %Other (expense) income, net(533)1,650 (2,183)(132)%Total other (expense) income, net(10,590)(2,529)(8,061)319 %Loss before income tax(34,472)(43,300)8,828 (20)%Income tax expense(794)(2,069)1,275 (62)%Net loss$(35,266)$(45,369)$10,103 (22)%

35

Revenue

During the nine months ended September 30, 2025, revenue increased $1.8 million, or 19% to $11.5 million from $9.6 million for the nine months ended September 30, 2024, driven primarily by a $1.4 million increase in imagery ordered by new and existing Asset Monitoring customers. Revenue for the nine months ended September 30, 2025 included $8.9 million attributable to our Asset Monitoring line of business, $1.3 million attributable to our Space Systems line of business, and $1.2 million attributable to our CaaS line of business compared to $7.6 million, $0.9 million and $1.2 million, respectively, in the prior year. 

Cost of sales

Cost of sales, exclusive of depreciation, decreased $0.2 million, or 5%, to $3.6 million for the nine months ended September 30, 2025 from $3.8 million for the nine months ended September 30, 2024. The decrease was driven primarily by lower  cloud services costs and Space Systems costs, partially offset