Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 186

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 7
Chunk 186
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 could have an adverse impact on our business and financial prospects and cause us to seek additional financing to fund future operations.

67

Cash Flows Summary 

The following table summarizes our cash flow information for the years ended December 31, 2024 and 2023. 

Year Ended December 31,(in thousands of U.S. dollars)20242023Net cash flows:Net cash flows used in operating activities$(35,890)$(49,571)Net cash flows used in investing activities(5,032)(14,435)Net cash flows (used in) provided by financing activities37,455 (83)Net change in cash, cash equivalents and restricted cash$(3,467)$(64,089)

Cash Flows Used in Operating Activities 

The cash flows used in operating activities to date have been primarily comprised of costs and expenses related to development of our products, payroll, fluctuations in accounts payable and other current assets and liabilities. As we continue to expand our commercial operations, we anticipate our cash used in operating activities will remain elevated until we begin to generate material cash flows from the business. 

Cash flows used in operating activities are as follows: 

(in thousands of US dollars) Year Ended December 31,20242023Net loss$(116,272)$(61,018)Adjustments for the impact of non-cash items (1)79,347 11,879 Net loss adjusted for the impact of non-cash items(36,925)(49,139)Changes in assets and liabilitiesAccounts receivable(2)(1,126)(385)Prepaid expenses and other current assets(3)(1,666)2,114 Accounts payable(4)(2,356)1,533 Other(5)6,183 (3,694)Net cash used in operating activities$(35,890)$(49,571)

(1)Includes items such as depreciation, changes in the fair value of financial instruments, interest expense, income tax, stock-based compensation expense, expense for estimated credit losses on accounts receivable, loss on debt extinguishment, changes in foreign currency and others. 

(2)The change is primarily due to higher accounts receivable from our commercial space technology customer. 

(3)The change is primarily due to higher prepaid expenses from software licenses and higher advances to suppliers. 

(4)The change is primarily due to the timing of payments. 

(5)The change is primarily due to timing of payments, net of an increase in contract liabilities