Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 14

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 14
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)(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)$(33,701)Professional fees related to Secured Convertible Notes— — — 2,397 Change in fair value of financial instruments(11,882)(63)10,791 4,961 Other expense (income), net (1)(14)647 533 (1,650)Stock-based compensation1,653 507 2,824 1,765 Non-GAAP Adjusted EBITDA$(4,646)$(7,076)$(14,275)$(26,228)

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(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. 

Three Months Ended September 30,Nine Months Ended September 30,(in thousands of U.S. dollars)2025202420252024Net cash used in operating activities$(8,371)$(8,364)$(17,435)$(32,255)Less purchases of property and equipment(1,338)(1,001)(4,027)(4,335)Non-GAAP Free Cash Flow$(9,709)$(9,365)$(21,462)$(36,590)

Liquidity and Capital Resources 

Our cash and cash equivalents are maintained in highly liquid investments with remaining maturities of 90 days or less at the time of purchase. As of September 30, 2025, we had $28.3 million in cash and cash equivalents on hand and total Secured Convertible Note