Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 9

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 9
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 $0.2 million, or 58%, to an expense of $0.1 million for the three months ended September 30, 2025, from expense of $0.3 million for the three months ended September 30, 2024. The decrease was driven primarily by lower expense related to unrecognized tax benefits. The associated liability was fully accrued in the prior period.

Results of Operations 

Comparison of Results for the nine months ended September 30, 2025 and 2024 

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

(in thousands of US dollars)Nine Months Ended September 30,2025 vs 202420252024$ Change % ChangeRevenue$11,460 $9,646 $1,814 19 %Costs and expensesCost of sales, exclusive of depreciation shown separately below3,597 3,782 (185)(5)%Selling, general and administrative18,259 25,590 (7,331)(29)%Engineering7,449 11,522 (4,073)(35)%Depreciation expense6,037 9,523 (3,486)(37)%Total costs and expenses35,342 50,417 (15,075)(30)%Operating loss(23,882)(40,771)16,889 (41)%Other (expense) income, netInterest income, net734 782 (48)(6)%Change in fair value of financial instruments(10,791)(4,961)(5,830)118 %Other (expense) income, net(533)1,650 (2,183)(132)%Total other (expense) income, net(10,590)(2,529)(8,061)319 %Loss before income tax(34,472)(43,300)8,828 (20)%Income tax expense(794)(2,069)1,275 (62)%Net loss$(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