Company: SATLW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001874315-25-000014
Chunk: 4

Company: Satellogic Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Item 2
Chunk 4
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 are recorded to Change in fair value of financial instruments in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Since our Secured Convertible Notes are valued utilizing the fair value option, interest expense on the Secured Convertible Notes is also included.

Other (expense) income, net

Other (expense) income, net consists mainly of differences related to foreign exchange gains and losses as well as gains and losses on disposal of property and equipment.

Income tax expense

As a corporation domiciled in Delaware, we are subject to taxation in the U.S. We may also be subject to withholding taxes paid at source on interest, dividends received and paid in the various jurisdictions in which we operate, other fixed, annual, determinable or periodic income, and/or income earned in other jurisdictions where we have operations. Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities where we operate. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where we operate and generate taxable income. Deferred income tax is provided using the liability method on temporary differences between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted. The OBBBA makes significant tax law changes and modifications, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act and the restoration of favorable tax treatment for certain business provisions, including allowing accelerated tax deductions for qualified property and equipment expenditures and the business interest expense limitation. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. The Company is currently assessing the potential impacts on its consolidated financial position, results of operations and cash flows.

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Results of Operations 

Comparison of Results for the three months ended June 30, 2025 and 2024 

The following table summarizes our results of operations for the three months ended June 30, 2025 and 2024.

(in thousands of US dollars)Three Months Ended June 30, 20252025 vs 202420252024$ Change % ChangeRevenue$4,440 $3,501 $939 27 %Costs and expensesCost of sales, exclusive of depreciation shown separately below1,189 1,249 (60)(5)%Selling, general and administrative5