Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 23

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 8
Chunk 23
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 on the geographical location of the customer.Contract Liabilities and Remaining Performance ObligationsOur contract liabilities consist of payments received from customers, or such consideration contractually due, in advance of providing the relevant satellite imagery or related service. Amounts included in Contract liabilities are as follows:December 31,20242023Current$5,871 $3,728 Non-current— 1,000 Total$5,871 $4,728 

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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) 

During the year ended December 31, 2024, we recognized revenue of $3.4 million that was included as a Contract liability as of December 31, 2023. During the year ended December 31, 2023, we recognized revenue of $1.8 million that was included as a Contract liability as of December 31, 2022. The increase in contract liabilities in the year ended December 31, 2024 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 December 31, 2024, and December 31, 2023 were $1.4 million and $2.7 million, respectively. Unused credits expire one year after issuance. There were no credits that expired in the years ended December 31, 2024 or 2023.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 December 31, 2024 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$9,815 $6,113 $1,000 $— 

7. Warrant Liabilities

Liberty Warrants and Liberty Advisory Fee WarrantPIPE Warrant$8.63 WarrantsTotal Warrant LiabilitiesAs of December 31, 2023$2,017 $97 $681 $2,795 Change in fair value of financial instruments5,995 374 2,347 8,716 As of December