Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 13

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 2
Chunk 13
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 of financial instruments, stock-based compensation, and professional fees related to Secured Convertible Notes. Other (expense) income, net consists primarily of foreign currency gains and losses.

We define Non-GAAP Free Cash Flow as net cash used in operating activities less payments for capital expenditures.

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We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe these measures provide analysts, investors and management with helpful information regarding the underlying operating performance of our business, as they provide meaningful supplemental information regarding our performance and liquidity by removing the impact of items that we believe are not reflective of our underlying operating performance. The non-GAAP measures are used by us to evaluate our core operating performance and liquidity on a comparable basis and to make strategic decisions. The non-GAAP measures also facilitate company-to-company operating performance comparisons by backing out potential differences caused by variations such as capital structures, taxation, depreciation, capital expenditures and other non-cash items (i.e., embedded derivatives, debt extinguishment and stock-based compensation) which may vary for different companies for reasons unrelated to operating performance. However, different companies may define these terms differently and accordingly comparisons might not be accurate. There are a number of limitations related to the use of non-GAAP financial measures. We compensate for these limitations by providing specific information regarding the U.S. GAAP amounts excluded from these non-GAAP financial measures, and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance with U.S. GAAP. Non-GAAP measures such as EBITDA, Adjusted EBITDA and Free Cash Flow are not intended to be a substitute for any U.S. GAAP financial measure. 

The following presents our non-GAAP financial measures, along with the most comparable GAAP metric: 

Three Months Ended September 30,Nine Months Ended September 30,(in thousands of U.S. dollars)2025202420252024Net income (loss) available to stockholders$3,967 $(12,090)$(35,266)$(45,369)EBITDA (non-GAAP)5,597 (8,167)(28,423)(33,701)Adjusted EBITDA (non-GAAP)(4,646)(7,076)(14,275)(26,228)Net cash used in operating activities(8,371)(8,364)(17,435)(32,255)Free Cash Flow (non-GAAP)(9,709)(9,365