Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 118

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 118
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523 (3,486)(37)%Total costs and expenses35,342 50,417 (15,075)(30)%Operating loss(23,882)(40,771)16,889 (41)%Other (expense) income, netInterest income, net734 782 (48)(6)%Change in fair value of financial instruments(10,791)(4,961)(5,830)118 %Other (expense) income, net(533)1,650 (2,183)(132)%Total other (expense) income, net(10,590)(2,529)(8,061)319 %Loss before income tax(34,472)(43,300)8,828 (20)%Income tax expense(794)(2,069)1,275 (62)%Net loss$(35,266)$(45,369)$10,103 (22)%

35

Revenue

During the nine months ended September 30, 2025, revenue increased $1.8 million, or 19% to $11.5 million from $9.6 million for the nine months ended September 30, 2024, driven primarily by a $1.4 million increase in imagery ordered by new and existing Asset Monitoring customers. Revenue for the nine months ended September 30, 2025 included $8.9 million attributable to our Asset Monitoring line of business, $1.3 million attributable to our Space Systems line of business, and $1.2 million attributable to our CaaS line of business compared to $7.6 million, $0.9 million and $1.2 million, respectively, in the prior year. 

Cost of sales

Cost of sales, exclusive of depreciation, decreased $0.2 million, or 5%, to $3.6 million for the nine months ended September 30, 2025 from $3.8 million for the nine months ended September 30, 2024. The decrease was driven primarily by lower  cloud services costs and Space Systems costs, partially offset by higher leased antenna costs and ground station costs.

Selling, general and administrative expenses

Nine Months Ended September 30,2025 vs 2024(in thousands of U.S. dollars)20252024$ Change% ChangeSelling, general and administrativeProfessional fees related to Secured Convertibles Notes$— $2,397 $(2,397)(100)%Professional fees3,621 6,