Company: SATLW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001874315-25-000014
Chunk: 120

Company: Satellogic Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 8
Chunk 120
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 the three months ended June 30, 2024.

Income tax benefit (expense)

Income tax benefit (expense) decreased by $0.4 million, or 111%, to a benefit of $0.04 million for the three months ended June 30, 2025, from expense of $0.4 million for the three months ended June 30, 2024. The decrease was driven primarily by lower expense related to unrecognized tax benefits. The associated liability was fully accrued in the prior period.

Results of Operations 

Comparison of Results for the six months ended June 30, 2025 and 2024 

The following table summarizes our results of operations for the six months ended June 30, 2025 and 2024.

(in thousands of US dollars)Six Months Ended June 30,2025 vs 202420252024$ Change % ChangeRevenue$7,827 $6,829 $998 15 %Costs and expensesCost of sales, exclusive of depreciation shown separately below2,426 2,554 (128)(5)%Selling, general and administrative11,846 18,930 (7,084)(37)%Engineering4,820 8,674 (3,854)(44)%Depreciation expense4,535 5,946 (1,411)(24)%Total costs and expenses23,627 36,104 (12,477)(35)%Operating loss(15,800)(29,275)13,475 (46)%Other (expense) income, netInterest income, net462 511 (49)(10)%Change in fair value of financial instruments(22,673)(5,024)(17,649)351 %Other (expense) income, net(547)2,297 (2,844)(124)%Total other (expense) income, net(22,758)(2,216)(20,542)927 %Loss before income tax(38,558)(31,491)(7,067)22 %Income tax benefit (expense)(675)(1,788)1,113 (62)%Net loss$(39,233)$(33,279)$(5,954)18 %

35

Revenue

During the six months ended June 30, 2025, revenue increased $1.0 million, or 15% to $7.8 million from $6.8 million for the six months ended June 30,