Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 15

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 15
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 include an investment in equity method investee at March 31, 2025 and December 31, 2024  of $3.7 million and $3.7 million, respectively. Other segment items are primarily made up of the following items not considered to be significant expenses: depreciation expense, change in fair value of financial instruments, income tax expense, partially offset by foreign currency income adjustments and interest income, net.Operations for the Company’s segment were as follows:Three Months Ended March 31,20252024Revenue$3,387 $3,328 Cost of sales excluding depreciation(1,237)(1,305)Selling, general and administrative expenses(6,485)(9,389)Engineering(2,493)(4,387)Other segment items(25,753)(3,425)Net loss$(32,581)$(15,178)

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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) 

Revenue by geographic area is as follows(a):RevenuesThree Months Ended March 31,20252024U.S.$2,561 $1,576 Albania412 412 India13 732 All Other401 608 Total$3,387 $3,328 (a) Revenues are attributed to individual countries based on the location of the customer generating the revenue.

5. Revenue from Contracts with Customers

During the three months ended March 31, 2025, we recognized revenue of $3.4 million, of which $1.6 million was recognized over time and $1.8 million was recognized at a point in time. During the three months ended March 31, 2024, we recognized revenue of $3.3 million, of which $1.1 million was recognized over time and $2.2 million was recognized at a point in time. In November 2021, the Company entered a 5-year noncancellable agreement with a technology company by which the customer receives $4.0 million in credits to purchase imagery each year. The Company recognizes revenue as images are delivered to the customer. The customer pays the Company in non-cash consideration in the form of a license to a proprietary software platform, which the Company uses in its internal operations. We recognized $1.1 million of revenue from this customer during the three months