Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 65

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 65
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 collected— — Allowance for doubtful accounts as of end of period148142Cash, Cash Equivalents and Restricted CashCash and cash equivalents include deposits in banks and short-term (original maturities of three months or less at the time of purchase), highly liquid investments that are readily convertible to known amounts of cash with a maturity of three months or less at the time of purchase.Restricted cash, including amounts in Other non-current assets, represents amounts pledged as guarantees for sales and lease agreements as contractually required.March 31,December 31,20252024Cash and cash equivalents$17,716 $22,493 Restricted cash305 — Restricted cash included in Other non-current assets887 1,189 Total cash, cash equivalents and restricted cash$18,908 $23,682 

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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) 

Cash Flow InformationThree Months Ended March 31,20252024Cash paid during the period for:Income tax, net of refunds$156 $— Interest$1,670 $9 March 31,20252024Supplemental cash flow informationUnpaid property and equipment included in accounts payable$148 $2,549 Research and DevelopmentResearch and development (R&D) costs are expensed in the period in which they are incurred. R&D costs include materials and equipment that have no alternative future use, depreciation on equipment and facilities currently used for R&D purposes, personnel costs, contract services and reasonable allocations of indirect costs, if clearly related to an R&D activity. Expenditures in the pre-production phase of an R&D project are recorded as R&D expense. Research and development expenses for the three months ended March 31, 2025, and 2024 were $1.4 million and $2.2 million, respectively and are included within Engineering costs on the statement of operations and comprehensive loss.Tax Collected from Customers 

Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, which are collected by the Company from customers, are excluded from revenue. 

3. Accounting Standards Updates

Accounting Standards Not Yet AdoptedIn December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740)—Improvements to Income Tax Disclosures,