Company: SATLW
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001628280-25-025087
Chunk: 69

Company: Satellogic Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 1
Chunk 69
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 $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 ended March 31, 2025. We recognized $1.5 million of revenue from this customer during the three months ended March 31, 2024. Disaggregation of revenueInformation about our revenue by business line is as follows:Three Months Ended March 31,20252024Revenue by business lineAsset Monitoring$2,594 $2,184 Constellation as a Service ("CaaS")412 412 Space Systems381 732 Total revenue$3,387 $3,328 Information about our revenue by timing is as follows:Three Months Ended March 31,20242023Revenue by timingOver time$1,602 $1,144 Point-in time1,785 2,184 Total revenue$3,387 $3,328 

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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) 

Information about our revenue by geography is as follows:Three Months Ended March 31,20252024Revenue by geography (1)North America$2,574 $1,635 Europe454 512 Asia Pacific352 1,180 South America7 1 Total revenue$3,387 $3,328 (1) Revenue by geography is based on the geographical location of the customer.Contract Liabilities and Remaining Performance ObligationsOur contract liabilities consist of payments received from customers, or such consideration contractually due, in advance of providing the relevant satellite imagery or related service. Amounts included in Contract liabilities are as follows:March 31,December 31,