Company: SATLW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001874315-25-000019
Chunk: 34

Company: Satellogic Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 34
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 to the 2024 termination of a facility lease in the Netherlands. Lease obligations and right of use assets increased as of September 30, 2025 compared to December 31, 2024 due primarily to new ground station antenna leases in the nine months ended September 30, 2025. 

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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) 

Accounts Receivable and Allowance for Credit LossesAccounts are written off against the allowance for credit losses account when they are determined to be no longer collectible. The following table shows the activity in the allowance for credit losses for the nine months ended September 30, 2025 and 2024:September 30,20252024Allowance for credit losses as of beginning of year$148 $126 Provision (13)123Write offs(66)— Recoveries collected(47)(59)Allowance for credit losses as of end of period$22 $190 Cash, Cash Equivalents and Restricted CashRestricted cash, including amounts in Other non-current assets, represents amounts pledged as guarantees for sales and lease agreements as contractually required.September 30,December 31,20252024Cash and cash equivalents$28,288 $22,493 Restricted cash807— Restricted cash included in Other non-current assets255 1,189 Total cash, cash equivalents and restricted cash$29,350 $23,682 Cash Flow InformationThree Months Ended September 30,Nine Months Ended September 30,2025202420252024Cash paid during the period for:Income tax, net of refunds$28 $— $330 $1,974 Interest$1,650 $1,590 $3,323 $1,601 September 30,20252024Supplemental cash flow informationUnpaid property and equipment included in accounts payable$550 $1,446 Research and DevelopmentFor the three months ended September 30, 2025 and 2024 research and development expenses were $1.2 million and $1.3 million, respectively and for the nine months ended September 30, 2025, and 2024 were $3.8 million and $5.8 million, respectively. Research and development expenses are included in Engineering on the Condensed Consolidated Statement of Operations and Comprehensive