Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 70

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 70
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20252024Current$6,308 $5,871 Non-current— — Total$6,308 $5,871 During the three months ended March 31, 2025, we recognized revenue of $1.4 million that was included as a contract liability as of December 31, 2024. During the three months ended March 31, 2024, we recognized revenue of $2.0 million that was included as a contract liability as of December 31, 2023. The increase in contract liabilities in the three months ended March 31, 2025 was primarily due to collections from a new customer for performance obligations that will be satisfied during 2025. Total unused credits related to the non-cash agreement described above included in contract liabilities at March 31, 2025, and December 31, 2024 were $1.4 million and $1.4 million, respectively. Unused credits expire one year after issuance. There were no credits that expired in the three months ended March 31, 2025 or 2024.A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following table represents the total transaction price for the remaining performance obligations as of March 31, 2025 related to non-cancellable contracts longer than 12 months in duration that is expected to be recognized over future periods.Within 1 YearYears 1-2Years 2-3ThereafterRemaining performance obligations$11,496 $4,605 $7,000 $24,000 

6. Warrant Liabilities

Liberty Warrants and Liberty Advisory Fee WarrantPIPE Warrant$8.63 WarrantsTotal Warrant LiabilitiesAs of December 31, 2024$8,012 $471 $3,028 $11,511 Change in fair value of financial instruments2,569 131 691 3,391 As of March 31, 2025$10,581 $602 $3,719 $14,902 

20

Table of ContentsSATELLOGIC INC. Notes to Condensed Consolidated Financial Statements (in thousands of U.S. dollars, except share and per share information, unless otherwise stated) 

Liberty Warrants and Liberty Advisory Fee WarrantOn January 18, 2022, the Company and CF V entered into the Liberty Subscription