Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 68

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 68
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 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)(21,462)(36,590)

Non-GAAP Financial Measure Reconciliations 

The following table presents a reconciliation of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA to our net loss for the periods indicated. 

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)Interest expense9 65 12 76 Income tax expense119 281 794 2,069 Depreciation expense1,502 3,577 6,037 9,523 Non-GAAP EBITDA$5,597