Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 20

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 20
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,000 less 30% of the Forfeiture Escrow Shares (as defined in the Sponsor Support Agreement) retired and canceled (“Sponsor Earnout”). The Sponsor Earnout is subject to potential forfeiture to us for no consideration until the occurrence of each tranche’s respective earnout triggering event. The earnout triggering events related to achieving a closing price at or above $12.50, $15.00 and $20.00 per share, respectively, for any 10 trading days over a 20 trading day period were not satisfied during the three months ended March 31, 2025. As a result, the Sponsor Earnout of 1,775,962 shares of Class A common stock were not vested and are subject to transfer restrictions and contingent forfeiture provisions.

8. Property and Equipment

Property and equipment, net consists of the following: Estimated Useful Life (in years)March 31,December 31,20252024Satellites and other equipment3-5$30,856 $30,668 Satellites under constructionNot applicable14,595 14,458 Leasehold improvements5-102,928 2,901 Other property and equipment3-104,317 4,307 Total property and equipment52,696 52,334 Less: Accumulated depreciation(26,894)(25,106)Property and equipment, net$25,802 $27,228 Provisions for depreciation are based on estimated useful lives of the assets using the straight-line method.Information related to our property and equipment and operating lease ROU assets by geography is as follows:March 31,December 31,20252024Uruguay$31,682 $26,833 Argentina400 392 Spain217 746 Other countries41 134 Total (1) $32,340 $28,105 (1) The presentation in the table above is based on the geographic location of the entity that holds the assets.

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

9. Additional Financial Statement Information

Prepaid Expenses and Other Current Assets                                                                                                                                                     March 31,December 31,20252024Prepaid expenses and other current assetsPrepaid expenses$2,090 $2,892 Officina Stellare S.p.A. (“OS”) Warrants1,053 322