Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 181

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 7
Chunk 181
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 accurate. There 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 

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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: 

Year Ended December 31,(in thousands of U.S. dollars)20242023Net loss available to stockholders$(116,272)$(61,018)EBITDA (non-GAAP)(100,688)(34,629)Adjusted EBITDA (non-GAAP)(33,731)(44,075)Net cash used in operating activities(35,890)(49,571)Free Cash Flow (non-GAAP)(40,928)(64,456)

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. 

Year Ended December 31,(in thousands of U.S. dollars)20242023Net loss available to stockholders$(116,272)$(61,018)Interest expense71 51 Income tax expense2,858 9,082 Depreciation expense12,655 17,256 Non-GAAP EBITDA$(100,688)$(34,629)Professional fees related to Secured Convertible Notes2,444 — Other expense (income), net (1)2,107 (9,271)Change in fair value of financial instruments60,071 (6,474)Stock-based compensation2,335 6,299 Non-GAAP Adjusted EBITDA$(33,731)$(44,075)

(1) Other expense (income), net includes foreign exchange gain or loss and other non-operating income and expenses not considered indicative of our ongoing operational performance.

The following table presents a reconciliation of Non-GAAP Free Cash Flow to cash flows used in operating activities for the periods indicated. 

Year Ended December 31,(in thousands of U.S. dollars)20242023Net cash used in operating activities$(35,890)$(49,