Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 86

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 86
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 on October 17, 2025 and resulted in net proceeds to the Company of approximately $84.9 million. See Note 17, Subsequent Events, for further detail on this public offering.Accordingly, we believe our cash on hand following the consummation of the Public Offering will be sufficient to meet our working capital expenditure requirements for a period of at least twelve months from the end of the reporting period.

2. Summary of Significant Accounting Policies

Credit risk managementCredit risk is the risk that a counterparty fails to discharge an obligation to us. We are exposed to credit risk from financial assets including cash, cash equivalents and restricted cash held at banks, accounts receivable and other receivables.The credit risk is managed based on our credit risk management policies and procedures. Credit risk of any entity doing business with us is systematically analyzed, including aspects of a qualitative nature. The measurement and assessment of our total exposure to credit risk covers all financial instruments involving any counterparty risk.The credit risk in respect of cash balances held with banks and deposits with banks are managed via diversification of bank deposits and are only with major reputable financial institutions.

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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) 

As our risk exposure is mainly influenced by the individual characteristics of each customer, we continuously analyze the creditworthiness of significant customers. Accounts receivable are non-interest bearing and generally on terms of 30 to 90 days. As of September 30, 2025, three customers accounted for 45% of accounts receivable. As of December 31, 2024, two customers accounted for 70% of our accounts receivable.We had four customers that each accounted for more than 10% of our revenue totaling $2.5 million for the three months ended September 30, 2025 and two customers that each accounted for more than 10% of our revenue totaling $1.8 million for the three months ended September 30, 2024. We had four customers that each accounted for more than 10% of our revenue totaling $8.6 million for the nine months ended September 30, 2025 and two customers that each accounted for more than 10% of our revenue totaling $5.5 million for the nine months ended September 30, 2024. Impairment of Assets We assess potential impairments to long