Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 117

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 117
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0.1 million for the three months ended September 30, 2024. The change was primarily driven by the remeasurement of the fair value of the Secured Convertible Notes, warrant and earnout liabilities, which were impacted by the decrease in our Class A common stock trading price during the three months ended September 30, 2025. This decrease in our stock price was more significant in the three months ended September 30, 2025, compared to the same period in 2024. Additionally, the remeasurement of the fair value of OS warrants also resulted in a gain during the three months ended September 30, 2025, due primarily to the increase in the underlying OS stock price.

Other income (expense), net 

Other income (expense), net increased $0.7 million, or 102%, to $14 thousand of income for the three months ended September 30, 2025, compared to $0.6 million of expense for the three months ended September 30, 2024. The net increase in income was driven primarily by foreign currency exchange net gains for the three months ended September 30, 2025 compared to foreign currency exchange net losses in the three months ended September 30, 2024.

Income tax expense

Income tax expense decreased by $0.2 million, or 58%, to an expense of $0.1 million for the three months ended September 30, 2025, from expense of $0.3 million for the three months ended September 30, 2024. The decrease was driven primarily by lower expense related to unrecognized tax benefits. The associated liability was fully accrued in the prior period.

Results of Operations 

Comparison of Results for the nine months ended September 30, 2025 and 2024 

The following table summarizes our results of operations for the nine months ended September 30, 2025 and 2024.

(in thousands of US dollars)Nine Months Ended September 30,2025 vs 202420252024$ Change % ChangeRevenue$11,460 $9,646 $1,814 19 %Costs and expensesCost of sales, exclusive of depreciation shown separately below3,597 3,782 (185)(5)%Selling, general and administrative18,259 25,590 (7,331)(29)%Engineering7,449 11,522 (4,073)(35)%Depreciation expense6,037 9,