Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 122

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 122
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 are a number of limitations related to the use of non-GAAP financial measures. We compensate for these limitations by providing specific information regarding the U.S. GAAP amounts excluded from these non-GAAP financial measures, and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance with U.S. GAAP. Non-GAAP measures such as EBITDA, Adjusted EBITDA and Free Cash Flow are not intended to be a substitute for any U.S. GAAP financial measure. 

The following presents our non-GAAP financial measures, along with the most comparable GAAP metric: 

Three Months Ended September 30,Nine Months Ended September 30,(in thousands of U.S. dollars)2025202420252024Net income (loss) available to stockholders$3,967 $(12,090)$(35,266)$(45,369)EBITDA (non-GAAP)5,597 (8,167)(28,423)(33,701)Adjusted EBITDA (non-GAAP)(4,646)(7,076)(14,275)(26,228)Net cash used in operating activities(8,371)(8,364)(17,435)(32,255)Free Cash Flow (non-GAAP)(9,709)(9,365)(21,462)(36,590)

Non-GAAP Financial Measure Reconciliations 

The following table presents a reconciliation of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA to our net loss for the periods indicated. 

Three Months Ended September 30,Nine Months Ended September 30,(in thousands of U.S. dollars)2025202420252024Net income (loss) available to stockholders$3,967 $(12,090)$(35,266)$(45,369)Interest expense9 65 12 76 Income tax expense119 281 794 2,069 Depreciation expense1,502 3,577 6,037 9,523 Non-GAAP EBITDA$5,597 $(8,167)$(28,423)$(33,701)Professional fees related to Secured Convertible Notes— — — 2,397 Change in fair value of financial instruments(11,882)(63)10,791 4,961 Other expense (income), net (1)(14)647 533 (1,650)Stock-based compensation1,653