Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 122

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 2
Chunk 122
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 March 31, 2025, was flat compared to $1.9 million for the three months ended March 31, 2024. Cash control measures implemented in 2023 limited the number of launches in both periods. 

40

Cash Flows Provided by (used in) Financing Activities 

Net cash provided by financing activities was $1.7 million for the three months ended March 31, 2025 compared to net cash used in financing activities of $0.2 million for the three months ended March 31, 2024, which resulted primarily from proceeds from stock issuances under the ATM Program and proceeds from exercise of stock options in the three months ended March 31, 2025, as discussed above. 

Debt

Refer to Note 15 (Secured Convertible Notes) to the Condensed Consolidated Financial Statements for a discussion of our debt at March 31, 2025 and December 31, 2024.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations are based upon our unaudited condensed consolidated financial statements, which have been prepared in accordance with U.S. GAAP. The preparation of our unaudited condensed consolidated financial statements and related disclosures requires us to make estimates, assumptions and judgments that affect the reported amounts of assets, liabilities, revenues, costs and expenses and related disclosures. The accounting policies that have been identified as critical to our business operations and to understanding the results of our operations pertain to revenue recognition, impairment of assets, fair value of financial instruments, and income taxes. Actual results may differ materially from these estimates under different assumptions and conditions.  

There have been no material changes to our critical accounting policies and estimates in the three months ended March 31, 2025. For more information, the application of each of these critical accounting policies and estimates is discussed in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our 2024 Annual Report.

Emerging Growth Company and Smaller Reporting Company Status 

Section 102(b)(1) of the Jobs Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies are required to comply with the new or revised financial accounting standards. The Jobs Act provides that a company can choose not to take advantage of the extended transition period and comply with the requirements that apply to non-emerging growth companies, and any such election to not take advantage of the extended transition period is