Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 75

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 75
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 and the United States. The Calculation of our effective tax rate is as follows:Three Months Ended March 31,20252024Total loss before income tax$(31,866)$(13,745)Income tax expense$715 $1,433 Effective tax provision rate(2.2 %)(10.4 %)The difference between the U.S. federal statutory income tax rate of 21% and the Company’s effective income tax rate for the three months ended March 31, 2025 and 2024 was primarily impacted by a variety of factors including the location in which income was earned, the recognition of a full deferred tax asset valuation allowance in various jurisdictions, and interest and penalties related to uncertain tax positions.

11. Stock-based Compensation

A summary of stock option activity for the three months ended March 31, 2025 is as follows: Number of OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (years)Balance as of December 31, 20243,234,296$1.50 4.55Granted ——Forfeited (339)8.22 Exercised(961,627)1.02 Expired —— Outstanding at March 31, 20252,272,330$1.73 4.57Exercisable at March 31, 20252,237,928$1.65 4.54A summary of RSU activity for the three months ended March 31, 2025 is as follows:Number of RSUsWeighted Average Grant-Date ValueOutstanding unvested RSUs at December 31, 20242,893,396$1.40 Granted during the year3,7383.37 Forfeited during the year(129,130)2.08 Vested during the year(213,722)1.84 Outstanding unvested RSUs at March 31, 20252,554,282$1.33 

12. Net Loss Per Share

Diluted loss per share considers the impact of potentially dilutive securities. We identified financial instruments that qualify as potential common shares: (i) the share-based options awards described in Note 11 (Stock-based Compensation), (ii) the warrants described in Note 6 (Warrant Liabilities), and (iii) the earnout liabilities described in Note 7 (Earnout Liabilities). Each of these potential common shares are antidilutive since their