Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 28

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 8
Chunk 28
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Year Ended December 31,20242023Balance at January 1$1,026 $3,889 Increases (decreases) in tax positions related to prior periods(316)(2,833)Increases (decreases) related to prior year tax positions as a result of lapse of statute(2)(30)Balance at December 31$708 $1,026 The BVI does not impose an income tax. Our provision for (benefit from) income tax differed from the 0% tax rate imposed in the BVI due to the following items for the years ended December 31, 2024 and 2023:

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

Year Ended December 31,20242023$%$%Loss before income tax$(113,414)100.0 %$(51,936)100.0 %U.S. state and local income tax, net of federal benefit1 — %1 — %Argentina tax inflation adjustment(4,631)4.1 %(4,170)8.0 %Change in valuation allowances2,436 (2.1)%8,041 (15.5)%Uncertain tax positions1,653 (1.5)%2,118 (4.1)%Change in carryforward attributes(232)0.2 %(1,594)3.1 %Effect of rates different than statutory209 (0.2)%9,357 (18.0)%Tax credits(19)— %(156)0.3 %Withholding taxes251 (0.2)%156 (0.3)%Reserve on tax receivable1,100 (1.0)%— — %Equity compensation1,556 (1.4)%(4,301)8.3 %Other534 (0.5)%(370)0.7 %Total$2,858 (2.5)%$9,082 (17.5)%The change in the effective tax rate from December 31, 2023 to December 31, 2024 is primarily related to the lower change in valuation allowances and reduction of gains from the remeasurement of tax liabilities denominated in Argentine pesos that were recognized in the prior year