Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 12

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 8
Chunk 12
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essed at the end of each reporting period to determine whether any transfers have occurred between levels in the hierarchy.For fair value disclosures, classes of assets and liabilities are based on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy.Credit risk managementCredit risk is the risk that a counterparty fails to discharge an obligation to us. We are exposed to credit risk from financial assets including cash, cash equivalents and restricted cash held at banks, trade and other receivables.The credit risk is managed based on our credit risk management policies and procedures. Credit risk of any entity doing business with us is systematically analyzed, including aspects of a qualitative nature. The measurement and assessment of our total exposure to credit risk covers all financial instruments involving any counterparty risk.The credit risk in respect of cash balances held with banks and deposits with banks are managed via diversification of bank deposits and are only with major reputable financial institutions.As our risk exposure is mainly influenced by the individual characteristics of each customer, we continuously analyze the creditworthiness of significant customers. Accounts receivable are non-interest bearing and generally on terms of 30 to 90 days. As of December 31, 2024 two customers, accounted for 70% of accounts receivable, net of allowance. As of December 31, 2023, two customers accounted for 78% of our accounts receivable net of allowance.We had two customers that each accounted for more than 10% of our revenue totaling $7.0 million for the year ended December 31, 2024 and four customers that each accounted for more than 10% of our revenue totaling $8.4 million for the year ended December 31, 2023. Impairment of Assets We assess potential impairments to long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. An impairment is considered to exist if the total estimated future cash flows 

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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) 

on an undiscounted basis are less than the carrying amount of the assets or asset group. We performed an impairment test as of December 31, 2024 and 2023 due to our net loss for those years and concluded that the asset group is not impaired. Estimates of future cash flows are highly subjective judgments based on management’s experience and knowledge of the Company's operations.