Latest news with #Satellogic
Time of India
10-07-2025
- Business
- Time of India
Trump-Linked weather privatization plan raises ethics concerns as commerce chief Lutnick faces scrutiny
Plan to replace government with private weather companies Trump picks people with business ties to weather companies Live Events Elon Musk and SpaceX might gain too Lutnick still has financial ties to weather businesses Ethics & legal issues More on Trump's picks and private weather deals FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Howard Lutnick is the U.S. Commerce Secretary now. He used to run a big money company called Cantor Fitzgerald, but handed it over to his two sons after getting the government job, as per the now helps oversee government weather agencies like the National Weather Service and NOAA. These agencies give people free weather info, especially important during natural disasters like the recent deadly Texas flooding, according to the report by team and some Republicans have been trying to privatize weather forecasting for years. If this happens, private companies would sell weather info, and free government data could be cut down, according to the like Rick Spinrad, former NOAA chief under Biden, are worried that poor people might not get accurate weather info unless they pay. Spinrad said: 'It's like turning the weather service into Netflix for weather,' according to the report by Associated picks for weather jobs have ties to private weather companies. His NOAA nominee Neil Jacobs used to work for Panasonic Weather and supports nominee, Taylor Jordan, is a lobbyist for weather clients like AccuWeather, Spire, and Commerce Dept said they'd follow ethics rules and get legal advice before working on issues linked to old clients, as per the report by Associated Musk gave over $250 million to support Trump. His companies SpaceX and Starlink are regulated by the NOAA's space office, which lost 1/3 of its staff after budget cuts pushed by a Trump-linked efficiency staff cuts might help Musk's companies grow in the weather satellite market. Musk has left Washington and is not close to Trump anymore, but his influence remains. Musk didn't respond to questions about this, as per the report by Associated though Lutnick quit as CEO, he's still selling off his shares in Cantor Fitzgerald. His sons, Brandon and Kyle Lutnick, now run the company. He asked for a waiver to work on things that could affect his family's business during his divestment process, as per the Fitzgerald owns part of a weather company called Satellogic, which makes disaster and weather images using satellites. Lutnick helped raise money for Satellogic and was on its board. Cantor still owns around 13% of Satellogic, as mentioned in the report by Associated Press.U.S. officials can't make decisions that help their own or spouse's businesses, but that rule doesn't apply to their adult kids. Lutnick's ethics plan says he's following the rules, but experts are still concerned about conflicts of while under Lutnick, paid a $6.75 million SEC fine for giving misleading info to investors about Satellogic. Trump's 2026 budget plan wants to cut $8 billion from NOAA's satellite program, as stated by NOAA pulls back, companies like Satellogic could take over and profit. Satellogic says it can give real-time weather images and claims it's ready to 'dominate the Earth Observation industry', as per the report by Associated Jacobs, Trump's NOAA nominee, has been acting NOAA head before and wants private firms to do more worked with Spire Global and Lynker, who get millions from NOAA, as per the also said the U.S. should stop giving commercial weather data for free to the world. Taylor Jordan, another nominee, still works at a lobbying firm representing many weather-related companies, according to the report by Associated Lutnick is the U.S. Commerce Secretary and used to run Cantor Fitzgerald, a firm linked to private weather say it could limit free weather info for poor people if private firms take over.
Yahoo
13-05-2025
- Business
- Yahoo
Satellogic Reports First Quarter 2025 Financial Results and Provides Business Update
Revenue of $3.4 million in 1Q 2025 Domestication to U.S. Completed Awarded $30 Million Contract for AI-First Constellation and Closed $20 Million Registered Direct Offering NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation ('EO') data collection, today provided a business update and reported its financial results for the three months ended March 31, 2025. 'The year is off to a great start with our recent announcements in April related to our $30 million low latency, near-daily AI-first constellation contract, our sovereign defense and intelligence imagery sales to Brazil and Singapore, and the closing of a registered direct offering in which we received $20 million in gross proceeds, which further strengthened our liquidity position. These milestones, coupled with the completion of our domestication during the first quarter, positions Satellogic to focus on significant growth opportunities, underscoring the value of our data insights and technology,' said Satellogic CEO, Emiliano Kargieman. Rick Dunn, Chief Financial Officer, added, 'In terms of financial results, we ended the quarter with $17.7 million of cash on hand (which does not include the proceeds from the aforementioned offering) and continued to reduce our cash used in operations by $5.4 million, or 53%, compared to the three months ended March 31, 2024. Our revenue also increased modestly by 2% to $3.4 million compared to the prior year period.' 'We expect that our revenue for 2025 will largely be dependent on closing opportunities within our Space Systems line of business, which we anticipate will contribute considerable per unit cash flow and strong gross margin. As we look to 2025 and beyond, management continues to focus on near-term growth opportunities and moving the Company forward on a path to profitability,' concluded Dunn. Financial Results for the Three Months Ended March 31, 2025 Revenue for the three months ended March 31, 2025, increased by $0.1 million, or 2%, to $3.4 million, as compared to revenue of $3.3 million for the three months ended March 31, 2024. The increase was driven primarily by a $0.4 million increase in imagery ordered by new and existing Asset Monitoring customers, partially offset by a $0.4 million decrease in revenue generated from the Space Systems business line. Revenue for the three months ended March 31, 2025 included $2.6 million attributable to our Asset Monitoring line of business, $0.4 million attributable to our Space Systems line of business, and $0.4 million attributable to our CaaS line of business compared to $2.2 million, $0.7 million and $0.4 million, respectively, in the prior period. Cost of Sales, exclusive of depreciation, decreased $0.1 million, or 5%, to $1.2 million for the three months ended March 31, 2025 from $1.3 million for the three months ended March 31, 2024. The decrease was driven primarily by lower Space Systems costs on lower sales volume, partially offset by higher outsourced ground station costs. However, as a percentage of revenue, our cost of sales were 37% for the three months ended March 31, 2025, as compared to 39% for the three months ended March 31, 2024. Selling, General and Administrative expenses decreased $2.9 million, or 31%, to $6.5 million during the three months ended March 31, 2025, from $9.4 million for the three months ended March 31, 2024. The decrease was driven primarily by a $0.5 million decrease in professional fees consisting mainly of the accrued advisory fee pursuant to the Liberty Subscription Agreement and professional fees related to the secured convertible notes in 2024, partially offset by professional fees related to our domestication in 2025. The decrease was also partially driven by decreases in salaries, wages, stock-based compensation and other benefits as a result of the Company's workforce reductions in 2024 and other expense reductions resulting from continued cash control measures during 2024. Engineering expenses decreased $1.9 million, or 43%, to $2.5 million for the three months ended March 31, 2025 from $4.4 million for the three months ended March 31, 2024. The decrease was driven primarily by a decrease in salaries, wages, and other benefits and stock-based compensation as a result of the Company's workforce reductions in 2024. The decrease was also partially driven by other expense reductions resulting from continued cash control measures during 2024, including the termination of our high-throughput plant lease in the Netherlands. Net loss for the three months ended March 31, 2025, increased by $17.4 million to $32.6 million, as compared to a net loss of $15.2 million for the three months ended March 31, 2024. The increase was primarily driven by an increase in the change in fair value of financial instruments ($21.6 million) and other (expense) income, net ($1.6 million) offset by increases in revenue and decreases in operating costs. Non-GAAP Adjusted EBITDA loss for the three months ended March 31, 2025, improved by $3.1 million to $6.1 million, from an Adjusted EBITDA loss of $9.1 million for the three months ended March 31, 2024, primarily due to year-over-year increases in revenue and decreases in operating expenses. Cash and Cash Equivalents were $17.7 million at March 31, 2025, compared to $22.5 million at December 31, 2024. Net cash used in operating activities was $4.7 million for the three months ended March 31, 2025, compared to $10.1 million for the three months ended December 31, 2024. This decline in net cash used by operations was primarily due to workforce reduction and overall cost control initiatives. Use of Non-GAAP Financial Measures We monitor a number of financial performance and liquidity measures on a regular basis in order to track the progress of our business. Included in these financial performance and liquidity measures are the non-GAAP measures, Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA. We believe these measures provide analysts, investors and management with helpful information regarding the underlying operating performance of our business, as they provide meaningful supplemental information regarding our performance and liquidity by removing the impact of items that we believe are not reflective of our underlying operating performance. The non-GAAP measures are used by us to evaluate our core operating performance and liquidity on a comparable basis and to make strategic decisions. 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. Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA are not intended to be a substitute for any GAAP financial measure. For the definitions of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA and reconciliations to the most directly comparable GAAP measure, net loss, see below. We define Non-GAAP EBITDA as net loss excluding interest, income taxes, depreciation and amortization. We did not incur amortization expense during the years ended December 31, 2024 and 2023. We define Non-GAAP Adjusted EBITDA as Non-GAAP EBITDA further adjusted for professional fees related to the secured convertible notes, other expense (income), net, changes in the fair value of financial instruments and stock-based compensation. Other expense (income), net includes foreign exchange gain or loss and other non-operating income and expenses not considered indicative of our ongoing operational performance. The following table presents a reconciliation of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA to its net loss for the periods indicated. Three Months Ended March 31, (in thousands of U.S. dollars) 2025 2024 Net loss available to stockholders $ (32,581 ) $ (15,178 ) Interest expense — 9 Income tax expense 715 1,433 Depreciation expense 2,687 2,845 Non-GAAP EBITDA $ (29,179 ) $ (10,891 ) Professional fees related to Secured Convertible Notes — 971 Other expense (income), net 167 (1,401 ) Change in fair value of financial instruments 22,361 752 Stock-based compensation 595 1,446 Non-GAAP Adjusted EBITDA $ (6,056 ) $ (9,123 ) About Satellogic Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated EO platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers. Satellogic's mission is to democratize access to geospatial data through its information platform of high-resolution images to help solve the world's most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry. With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point. To learn more, please visit: Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws. The words 'anticipate', 'believe', 'continue', 'could', 'estimate', 'expect', 'intends', 'may', 'might', 'plan', 'possible', 'potential', 'predict', 'project', 'should', 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic's current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic's strategic realignment as a U.S. company, and the visibility and high growth opportunities it will provide in connection therewith. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to generate revenue as expected, including due to challenges created by macroeconomic concerns, geopolitical uncertainty (e.g., trade relationships), financial market fluctuations and related factors, (ii) our ability to effectively market and sell our EO services and to convert contracted revenues and our pipeline of potential contracts into actual revenues, (iii) risks related to the secured convertible notes, (iv) the potential loss of one or more of our largest customers, (v) the considerable time and expense related to our sales efforts and the length and unpredictability of our sales cycle, (vi) risks and uncertainties associated with defense-related contracts, (vii) risk related to our pricing structure, (viii) our ability to scale production of our satellites as planned, (ix) unforeseen risks, challenges and uncertainties related to our expansion into new business lines, (x) our dependence on third parties, including SpaceX, to transport and launch our satellites into space, (xi) our reliance on third-party vendors and manufacturers to build and provide certain satellite components, products, or services and the inability of these vendors and manufacturers to meet our needs, (xii) our dependence on ground station and cloud-based computing infrastructure operated by third pirates for value-added services, and any errors, disruption, performance problems, or failure in their or our operational infrastructure, (xiii) risk related to certain minimum service requirements in our customer contracts, (xiv) market acceptance of our EO services and our dependence upon our ability to keep pace with the latest technological advances, including those related to artificial intelligence and machine learning, (xv) our ability to identify suitable acquisition candidates or consummate acquisitions on acceptable terms, or our ability to successfully integrate acquisitions, (xvi) competition for EO services, (xvii) challenges with international operations or unexpected changes to the regulatory environment in certain markets, (xviii) unknown defects or errors in our products, (xix) risk related to the capital-intensive nature of our business and our ability to raise adequate capital to finance our business strategies, (xx) uncertainties beyond our control related to the production, launch, commissioning, and/or operation of our satellites and related ground systems, software and analytic technologies, (xxi) the failure of the market for EO services to achieve the growth potential we expect, (xxii) risks related to our satellites and related equipment becoming impaired, (xxiii) risks related to the failure of our satellites to operate as intended, (xxiv) production and launch delays, launch failures, and damage or destruction to our satellites during launch, (xxv) the impact of natural disasters, unusual or prolonged unfavorable weather conditions, epidemic outbreaks, terrorist acts and geopolitical events (including the ongoing conflicts between Russia and Ukraine, in the Gaza Strip and the Red Sea region) on our business and satellite launch schedules and (xxvi) the anticipated benefits of the domestication may not materialize. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of Satellogic's Annual Report on Form 10-K and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations. Contacts Investor Relations: Ryan Driver, VP of Strategy & Corporate Media Relations: Satellogicpr@ CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSSUNAUDITED Three Months Ended March 31, 2025 2024 Revenue $ 3,387 $ 3,328 Costs and expenses Cost of sales, exclusive of depreciation shown separately below 1,237 1,305 Selling, general and administrative 6,485 9,389 Engineering 2,493 4,387 Depreciation expense 2,687 2,845 Total costs and expenses 12,902 17,926 Operating loss (9,515 ) (14,598 ) Other (expense) income, net Interest income, net 177 204 Change in fair value of financial instruments (22,361 ) (752 ) Other (expense) income, net (167 ) 1,401 Total other (expense) income, net (22,351 ) 853 Loss before income tax (31,866 ) (13,745 ) Income tax expense (715 ) (1,433 ) Net loss available to stockholders $ (32,581 ) $ (15,178 ) Other comprehensive loss Foreign currency translation gain (loss), net of tax 257 (137 ) Comprehensive loss $ (32,324 ) $ (15,315 ) Basic net loss per share for the period attributable to holders of Common Stock $ (0.34 ) $ (0.17 ) Basic weighted-average Common Stock outstanding 96,655,349 90,331,496 Diluted net loss per share for the period attributable to holders of Common Stock $ (0.34 ) $ (0.17 ) Diluted weighted-average Common Stock outstanding 96,655,349 90,331,496 SATELLOGIC CONSOLIDATED BALANCE SHEETSUNAUDITED March 31, December 31, 2025 2024 ASSETS Current assets Cash and cash equivalents $ 17,716 $ 22,493 Restricted cash 305 — Accounts receivable, net of allowance of $148 and $148, respectively 1,799 1,464 Prepaid expenses and other current assets 4,274 3,907 Total current assets 24,094 27,864 Property and equipment, net 25,802 27,228 Operating lease right-of-use assets 6,538 877 Other non-current assets 4,968 5,722 Total assets $ 61,402 $ 61,691 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY Current liabilities Accounts payable $ 3,742 $ 3,754 Warrant liabilities 14,902 11,511 Earnout liabilities 1,992 1,501 Operating lease liabilities 989 363 Contract liabilities 6,308 5,871 Accrued expenses and other liabilities 13,661 11,621 Total current liabilities 41,594 34,621 Secured Convertible Notes at fair value 96,590 79,070 Operating lease liabilities 5,812 516 Other non-current liabilities 498 516 Total liabilities 144,494 114,723 Commitments and contingencies Stockholders' (deficit) equity Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023 — — Class A Common Stock, $0.0001 par value, 385,000,000 shares authorized, 84,451,437 shares issued and 83,883,614 shares outstanding as of March 31, 2025 and 83,000,501 shares issued and 82,432,678 shares outstanding as of December 31, 2024 — — Class B Common Stock, $0.0001 par value, 15,000,000 shares authorized, 13,582,642 shares issued and outstanding as of March 31, 2025 and December 31, 2024 — — Treasury stock, at cost, 567,823 shares as of March 31, 2025 and 567,823 shares as of December 31, 2024 (8,603 ) (8,603 ) Additional paid-in capital 358,511 356,247 Accumulated other comprehensive loss (314 ) (571 ) Accumulated deficit (432,686 ) (400,105 ) Total stockholders' (deficit) equity (83,092 ) (53,032 ) Total liabilities and stockholders' (deficit) equity $ 61,402 $ 61,691 SATELLOGIC CONSOLIDATED STATEMENTS OF CASH FLOWSUNAUDITED Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net loss $ (32,581 ) $ (15,178 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation expense 2,687 2,845 Operating lease expense 421 538 Stock-based compensation 595 1,446 Change in fair value of financial instruments, net of interest paid on Secured Convertible Notes 20,691 752 Foreign exchange differences (188 ) (643 ) Loss on disposal of property and equipment 28 78 Expense for estimated credit losses on accounts receivable, net of recoveries — 16 Non-cash change in contract liabilities (46 ) (501 ) Other, net — 56 Changes in operating assets and liabilities: Accounts receivable (21 ) (932 ) Prepaid expenses and other current assets 830 (377 ) Accounts payable 569 1,764 Contract liabilities 438 (25 ) Accrued expenses and other liabilities 2,024 601 Operating lease liabilities (169 ) (555 ) Net cash used in operating activities (4,722 ) (10,115 ) Cash flows from investing activities: Purchases of property and equipment (1,913 ) (1,942 ) Net cash used in investing activities (1,913 ) (1,942 ) Cash flows from financing activities: Proceeds from issuance of Common Stock under ATM Program, net of transaction costs 1,143 — Payments for withholding taxes related to the net share settlement of equity awards (375 ) (184 ) Proceeds from exercise of stock options 916 — Net cash provided by (used in) financing activities 1,684 (184 ) Net (decrease) increase in cash, cash equivalents and restricted cash (4,951 ) (12,241 ) Effect of foreign exchange rate changes on cash and cash equivalents 177 542 Cash, cash equivalents and restricted cash - beginning of period 23,682 24,603 Cash, cash equivalents and restricted cash - end of period $ 18,908 $ 12,904 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
16-04-2025
- Business
- Globe and Mail
Satellogic Announces Closing of $20 Million Registered Direct Offering of Class A Common Stock
NEW YORK, April 16, 2025 (GLOBE NEWSWIRE) -- Satellogic Inc. (NASDAQ: SATL), a leader in high-resolution Earth observation data, announced today that it has closed the purchase and sale of 6,451,612 shares of the Company's Class A Common Stock at a purchase price of $3.10 in a registered direct offering pursuant to a definitive share purchase agreement entered into with a certain institutional investor on April 15, 2025. Cantor Fitzgerald & Co. acted as the exclusive placement agent for the offering. The gross proceeds from the offering are expected to be approximately $20 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate purposes. 'This offering, coupled with our recently announced $30 million low latency, near-daily AI-first constellation contract, and our strategic realignment as a U.S. company, positions Satellogic to focus on significant growth opportunities, underscoring the value of our data insights and technology,' said Emiliano Kargieman, the Company's Chief Executive Officer. Rick Dunn, Chief Financial Officer, added, 'the additional $20 million bolsters our liquidity, allowing our team to fully focus on the operational execution of our strategy and high growth initiatives that will drive real outcomes for our customers.' The shares of Class A Common Stock issued in the offering were offered by the Company pursuant to a 'shelf' registration statement on Form S-3 (File No. 333-283719) previously filed with the Securities and Exchange Commission (the 'SEC') and declared effective by the SEC on March 31, 2025. The offering was made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement, relating to the offering that was filed with the SEC on April 15, 2025. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained on the SEC's website at or by contacting Cantor Fitzgerald & Co. at Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at prospectus@ This press release shall not constitute an offer to sell or a solicitation of an offer to buy Class A Common Stock, nor shall there be any sale of Class A Common Stock in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. About Satellogic Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated EO platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers. Satellogic's mission is to democratize access to geospatial data through its information platform of high-resolution images to help solve the world's most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry. With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point. To learn more, please visit: Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws. The words 'anticipate', 'believe', 'continue', 'could', 'estimate', 'expect', 'intends', 'may', 'might', 'plan', 'possible', 'potential', 'predict', 'project', 'should', 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic's current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic's registered direct offering. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to generate revenue as expected, (ii) our ability to effectively market and sell our EO services and to convert contracted revenues and our pipeline of potential contracts into actual revenues, (iii) risks related to the secured convertible notes, (iv) the potential loss of one or more of our largest customers, (v) the considerable time and expense related to our sales efforts and the length and unpredictability of our sales cycle, (vi) risks and uncertainties associated with defense-related contracts, (vii) risk related to our pricing structure, (viii) our ability to scale production of our satellites as planned, (ix) unforeseen risks, challenges and uncertainties related to our expansion into new business lines, (x) our dependence on third parties to transport and launch our satellites into space, (xi) our reliance on third-party vendors and manufacturers to build and provide certain satellite components, products, or services, (xii) our dependence on ground station and cloud-based computing infrastructure operated by third parties for value-added services, and any errors, disruption, performance problems, or failure in their or our operational infrastructure, (xiii) risk related to certain minimum service requirements in our customer contracts, (xiv) market acceptance of our EO services and our dependence upon our ability to keep pace with the latest technological advances, (xv) competition for EO services, (xvi) challenges with international operations or unexpected changes to the regulatory environment in certain markets, (xvii) unknown defects or errors in our products, (xviii) risk related to the capital-intensive nature of our business and our ability to raise adequate capital to finance our business strategies, (xix) substantial doubt about our ability to continue as a going concern, (xx) uncertainties beyond our control related to the production, launch, commissioning, and/or operation of our satellites and related ground systems, software and analytic technologies, (xxi) the failure of the market for EO services to achieve the growth potential we expect, (xxii) risks related to our satellites and related equipment becoming impaired, (xxiii) risks related to the failure of our satellites to operate as intended, (xxiv) production and launch delays, launch failures, and damage or destruction to our satellites during launch and (xxv) the impact of natural disasters, unusual or prolonged unfavorable weather conditions, epidemic outbreaks, terrorist acts and geopolitical events (including the ongoing conflicts between Russia and Ukraine, in the Gaza Strip and the Red Sea region) on our business and satellite launch schedules. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of Satellogic's Annual Report on Form 10-K and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.
Yahoo
24-03-2025
- Business
- Yahoo
Satellogic Reports 2024 Financial Results and Business Update
Revenue up 28% to $12.9 million in 2024 Redomicile to U.S. Nears Completion; Set to Accelerate Market Opportunities Completed $10 Million Private Placement Entered into $50 Million At-The-Market (ATM) Program NEW YORK, March 24, 2025 (GLOBE NEWSWIRE) -- Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation ('EO') data collection, today provided a business update and financial results for the year ended December 31, 2024. 'The second half of 2024 was highlighted by commercial milestones, including a pivotal agreement with Maxar Intelligence granting them exclusive rights to task Satellogic's high-revisit constellation and use our cost-effective satellite imagery to support national security missions for the U.S. Government and select U.S. partners internationally.' said Satellogic CEO, Emiliano Kargieman. 'Additionally, we were selected by NASA as one of eight recipients of NASA's Commercial SmallSat Data Acquisition Program (CSDA) On-Ramp1 Multiple Award contract, with a maximum cumulative value of $476 million for all award winners. We have begun work on our first task order with NASA, an 18-month, seven figure award that will allow NASA researchers to utilize Satellogic data for critical earth science imagery analysis. This award highlights Satellogic's commitment to delivering high-quality Earth observation data to advance scientific research and enhance life on Earth,' said Kargieman. 'In 2024, we have made good progress in raising capital to further invest in the business. In December we announced the private placement of $10 million made by a single institutional investor and the filing of a $150 million shelf registration statement and the entry into a $50 million ATM program. We are pleased to have successfully completed this private placement, which positions us for continued growth as we advance our mission and continue our focus on our U.S. strategy, the National Security market, and our global Space Systems opportunities. The shelf registration statement and ATM program allow for future flexibility in our capital markets strategy by establishing a framework for potential future capital-raising opportunities to further strengthen our liquidity position,' concluded Kargieman. 'We are also excited to disclose our intended domestication to the U.S. in December, which is expected to be completed by the end of the month,' commented Rick Dunn, Satellogic CFO. We believe the domestication will continue to lower our barriers to entry in the U.S. and allied markets and improve transparency for investors and customers.' 'In terms of financial results, we ended 2024 with $22.5 million of cash on hand and continued to reduce our cash used in operations by $13.7 million, or 27.6%, compared to the year ended December 31, 2023. Our revenue increased 28% to $12.9 million, while our cost of sales, excluding depreciation expense, remained flat year-over-year. As a percentage of revenue, our cost of sales were 39% for the year ended December 31, 2024, a substantial improvement compared to 50% in the prior year.' 'While our improving revenue performance and strategic progress are encouraging and confidence-building, we've continued the work started in 2023 to realign and streamline our business to better position us to capitalize on near-term growth opportunities. Specifically, we further reduced our workforce by 104 full time equivalents in the second quarter of 2024, incurring approximately $2.0 million in cumulative severance-related charges that have been paid out in 2024, and also identified additional operating cost reductions. The cumulative impact of these workforce reductions and operating expense savings is expected to result in approximately $9.6 million of annual savings. As a result of our previously announced successful Mark V deployment, the Company now has capacity to meet current customer needs and we expect to moderate our constellation growth initiatives going forward to pace with expected customer growth.' 'We expect that our revenue for 2025 will largely be dependent on closing opportunities within our Space Systems line of business, which we anticipate will contribute considerable per unit cash flow and strong gross margin. As we look to 2025 and beyond, management continues to focus on near-term growth opportunities and moving the Company forward on a path to profitability,' concluded Dunn. Financial Results for the Year Ended December 31, 2024 Revenue for the year ended December 31, 2024, increased by $2.8 million, or 28%, to $12.9 million, as compared to revenue of $10.1 million for the year ended December 31, 2023. The increase was driven primarily by a $5 million increase in imagery ordered by new and existing Asset Monitoring customers, partially offset by a $2.2 million decrease in revenue generated from the Space Systems business line. Revenue for the year ended December 31, 2024 included $9.5 million attributable to our Asset Monitoring line of business, $1.8 million attributable to our Space Systems line of business, and $1.6 million attributable to our CaaS line of business compared to $4.5 million, $3.9 million and $1.6 million, respectively, in the prior year. Cost of Sales, excluding depreciation expense, for the year ended December 31, 2024, remained flat at $5.0 million, as compared to $5.1 million for the year ended December 31, 2023. However, as a percentage of revenue, our cost of sales were 39% for the year ended December 31, 2024, as compared to 50% for the year ended December 31, 2023. Selling, General and Administrative expenses for the year ended December 31, 2024, decreased by $2.0 million, or 6%, to $33.0 million, as compared to $35.0 million for the year ended December 31, 2023. This decrease was primarily driven by a decrease in salaries, wages, stock-based compensation and other benefits as a result of the Company's workforce reductions in 2024 and other expense reductions resulting from continued cash control measures during 2024. Additionally, the decrease was driven by lower expense for estimated credit losses on accounts receivable and lower insurance costs due to rate improvements on certain policies. These decreases were partially offset by a $4.0 million increase in professional fees consisting mainly of the accrued, nonrecurring advisory fee pursuant to the subscription agreement entered into with Liberty in connection with going public in 2022 and professional fees related to the secured convertible notes. Engineering expenses for the year ended June 30, 2024, decreased $7.8 million, or 35%, to $14.4 million for the year ended December 31, 2024 from $22.2 million for the year ended December 31, 2023. The decrease was driven primarily by a decrease in salaries, wages, and other benefits and stock-based compensation as a result of the Company's workforce reductions in 2024 and other expense reductions resulting from continued cash control measures during 2024, in addition to fees resulting from the termination of our high-throughput plant lease in the Netherlands. Net loss for the year ended December 31, 2024, increased by $55.2 million to $116.3 million, as compared to a net loss of $61.0 million for the year ended December 31, 2023. The increase was primarily driven by an increase in the change in fair value of financial instruments ($60.0 million) and other expenses ($3.2 million) offset by increases in revenue and decreases in operating costs. Non-GAAP Adjusted EBITDA loss for the year ended December 31, 2024, improved by $10.4 million to $33.7 million, from an Adjusted EBITDA loss of $44.1 million for the year ended December 31, 2023, primarily due to year-over-year increases in revenue and decreases in operating expenses. Cash was $22.5 million at December 31, 2024, compared to $23.5 million at December 31, 2023. Net cash used in operating activities was $35.9 million for the year ended December 31, 2024, compared to $49.6 million for the year ended December 31, 2023. This decline in net cash used by operations was primarily due to workforce reduction and overall cost control initiatives. Use of Non-GAAP Financial Measures We monitor a number of financial performance and liquidity measures on a regular basis in order to track the progress of our business. Included in these financial performance and liquidity measures are the non-GAAP measures, Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA. We believe these measures provide analysts, investors and management with helpful information regarding the underlying operating performance of our business, as they remove the impact of items that we believe are not reflective of our underlying operating performance. The non-GAAP measures are used by us to evaluate our core operating performance and liquidity on a comparable basis and to make strategic decisions. 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, capital expenditures and non-cash items (i.e., depreciation, 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. Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA are not intended to be a substitute for any GAAP financial measure. For the definitions of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA and reconciliations to the most directly comparable GAAP measure, net loss, see below. We define Non-GAAP EBITDA as net loss excluding interest, income taxes, depreciation and amortization. We did not incur amortization expense during the years ended December 31, 2024 and 2023. We define Non-GAAP Adjusted EBITDA as Non-GAAP EBITDA further adjusted for professional fees related to the secured convertible notes, other income (expense), net, changes in the fair value of financial instruments and stock-based compensation. Other income, net consists mainly of differences related to foreign exchange gains and losses as well as gains and losses on disposal of property and equipment. The following table presents a reconciliation of Non-GAAP EBITDA and Non-GAAP Adjusted EBITDA to its net loss for the periods indicated. Years Ended December 31, (in thousands of U.S. dollars) 2024 2023 Net loss available to stockholders $ (116,272 ) $ (61,018 ) Interest expense 71 51 Income tax expense 2,858 9,082 Depreciation expense 12,655 17,256 Non-GAAP EBITDA $ (100,688 ) $ (34,629 ) Professional fees related to Secured Convertible Notes 2,444 — Other expense (income), net 2,107 (9,271 ) Change in fair value of financial instruments 60,071 (6,474 ) Stock-based compensation 2,335 6,299 Non-GAAP Adjusted EBITDA $ (33,731 ) $ (44,075 ) About Satellogic Founded in 2010 by Emiliano Kargieman and Gerardo Richarte, Satellogic (NASDAQ: SATL) is the first vertically integrated geospatial company, driving real outcomes with planetary-scale insights. Satellogic is creating and continuously enhancing the first scalable, fully automated EO platform with the ability to remap the entire planet at both high-frequency and high-resolution, providing accessible and affordable solutions for customers. Satellogic's mission is to democratize access to geospatial data through its information platform of high-resolution images to help solve the world's most pressing problems including climate change, energy supply, and food security. Using its patented Earth imaging technology, Satellogic unlocks the power of EO to deliver high-quality, planetary insights at the lowest cost in the industry. With more than a decade of experience in space, Satellogic has proven technology and a strong track record of delivering satellites to orbit and high-resolution data to customers at the right price point. To learn more, please visit: Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the U.S. federal securities laws. The words 'anticipate', 'believe', 'continue', 'could', 'estimate', 'expect', 'intends', 'may', 'might', 'plan', 'possible', 'potential', 'predict', 'project', 'should', 'would' and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic's current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic's strategic realignment as a U.S. company, and the visibility and high growth opportunities it will provide in connection therewith. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) our ability to generate revenue as expected, (ii) our ability to effectively market and sell our EO services and to convert contracted revenues and our pipeline of potential contracts into actual revenues, (iii) risks related to the secured convertible notes, (iv) the potential loss of one or more of our largest customers, (v) the considerable time and expense related to our sales efforts and the length and unpredictability of our sales cycle, (vi) risks and uncertainties associated with defense-related contracts, (vii) risk related to our pricing structure, (viii) our ability to scale production of our satellites as planned, (ix) unforeseen risks, challenges and uncertainties related to our expansion into new business lines, (x) our dependence on third parties to transport and launch our satellites into space, (xi) our reliance on third-party vendors and manufacturers to build and provide certain satellite components, products, or services, (xii) our dependence on ground station and cloud-based computing infrastructure operated by third pirates for value-added services, and any errors, disruption, performance problems, or failure in their or our operational infrastructure, (xiii) risk related to certain minimum service requirements in our customer contracts, (xiv) market acceptance of our EO services and our dependence upon our ability to keep pace with the latest technological advances, (xv) competition for EO services, (xvi) challenges with international operations or unexpected changes to the regulatory environment in certain markets, (xvii) unknown defects or errors in our products, (xviii) risk related to the capital-intensive nature of our business and our ability to raise adequate capital to finance our business strategies, (xix) substantial doubt about our ability to continue as a going concern, (xx) uncertainties beyond our control related to the production, launch, commissioning, and/or operation of our satellites and related ground systems, software and analytic technologies, (xxi) the failure of the market for EO services to achieve the growth potential we expect, (xxii) risks related to our satellites and related equipment becoming impaired, (xxiii) risks related to the failure of our satellites to operate as intended, (xxiv) production and launch delays, launch failures, and damage or destruction to our satellites during launch and (xxv) the impact of natural disasters, unusual or prolonged unfavorable weather conditions, epidemic outbreaks, terrorist acts and geopolitical events (including the ongoing conflicts between Russia and Ukraine, in the Gaza Strip and the Red Sea region) on our business and satellite launch schedules. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of Satellogic's Annual Report on Form 20-F and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations. Contacts Investor Relations: Ryan Driver, VP of Strategy & Corporate Media Relations: Satellogicpr@ SATELLOGIC INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS UNAUDITED Year Ended December 31,2024 2023 Revenue $ 12,870 $ 10,074 Costs and expenses Cost of sales, exclusive of depreciation shown separately below 5,024 5,056 Selling, general and administrative 32,992 34,968 Engineering 14,405 22,197 Depreciation expense 12,655 17,256 Total costs and expenses 65,076 79,477 Operating loss (52,206 ) (69,403 ) Other (expense) income, net Interest income, net 970 1,722 Change in fair value of financial instruments (60,071 ) 6,474 Other (expense) income, net (2,107 ) 9,271 Total other (expense) income, net (61,208 ) 17,467 Loss before income tax (113,414 ) (51,936 ) Income tax expense (2,858 ) (9,082 ) Net loss available to stockholders $ (116,272 ) $ (61,018 ) Other comprehensive loss Foreign currency translation gain (loss), net of tax (538 ) 279 Comprehensive loss $ (116,810 ) $ (60,739 ) Basic net loss per share for the period attributable to holders of Common Stock $ (1.28 ) $ (0.68 ) Basic weighted-average Common Stock outstanding 91,164,286 89,539,910 Diluted net loss per share for the period attributable to holders of Common Stock $ (1.28 ) $ (0.68 ) Diluted weighted-average Common Stock outstanding 91,164,286 89,539,910 SATELLOGIC INC. CONSOLIDATED BALANCE SHEETS UNAUDITED December 31,2024 2023 ASSETS Current assets Cash and cash equivalents $ 22,493 $ 23,476 Accounts receivable, net of allowance of $148 and $126, respectively 1,464 901 Prepaid expenses and other current assets 3,907 2,173 Total current assets 27,864 26,550 Property and equipment, net 27,228 41,130 Operating lease right-of-use assets 877 3,195 Other non-current assets 5,722 5,507 Total assets $ 61,691 $ 76,382 LIABILITIES AND STOCKHOLDERS' (DEFICIT) EQUITY Current liabilities Accounts payable $ 3,754 $ 7,935 Warrant liabilities 11,511 2,795 Earnout liabilities 1,501 419 Operating lease liabilities 363 2,143 Contract liabilities 5,871 3,728 Accrued expenses and other liabilities 11,621 4,372 Total current liabilities 34,621 21,392 Secured Convertible Notes at fair value 79,070 — Operating lease liabilities 516 1,789 Contract liabilities — 1,000 Other non-current liabilities 516 526 Total liabilities 114,723 24,707 Commitments and contingencies Stockholders' (deficit) equity Preferred stock, $0.0001 par value, 5,000,000 shares authorized, 0 shares issued and outstanding as of December 31, 2024 and December 31, 2023 — — Class A Common Stock, $0.0001 par value, 385,000,000 shares authorized, 83,000,501 shares issued and 82,432,678 shares outstanding as of December 31, 2024 and 77,289,166 shares issued and 76,721,343 shares outstanding as of December 31, 2023 — — Class B Common Stock, $0.0001 par value, 15,000,000 shares authorized, 13,582,642 shares issued and outstanding as of December 31, 2024 and December 31, 2023 — — Treasury stock, at cost, 567,823 shares as of December 31, 2024 and 567,823 shares as of December 31, 2023 (8,603 ) (8,603 ) Additional paid-in capital 356,247 344,144 Accumulated other comprehensive loss (571 ) (33 ) Accumulated deficit (400,105 ) (283,833 ) Total stockholders' (deficit) equity (53,032 ) 51,675 Total liabilities and stockholders' (deficit) equity $ 61,691 $ 76,382 SATELLOGIC INC. CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED Year Ended December 31,2024 2023 Cash flows from operating activities: Net loss $ (116,272 ) $ (61,018 ) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation expense 12,655 17,256 Debt issuance costs 2,397 — Operating lease expense 1,515 2,751 Stock-based compensation 2,335 6,299 Change in fair value of financial instruments 60,071 (6,474 ) Foreign exchange differences (2,936 ) (10,933 ) Loss on disposal of property and equipment 4,377 — Expense for estimated credit losses on accounts receivable, net of recoveries 22 1,126 Non-cash change in contract liabilities (1,323 ) 1,188 Other, net 234 666 Changes in operating assets and liabilities: Accounts receivable (1,126 ) (385 ) Prepaid expenses and other current assets (1,666 ) 2,114 Accounts payable (2,356 ) 1,533 Contract liabilities 2,532 598 Accrued expenses and other liabilities 7,200 (2,059 ) Operating lease liabilities (2,024 ) (2,233 ) Cash paid for interest on Secured Convertible Notes (1,525 ) — Net cash used in operating activities (35,890 ) (49,571 ) Cash flows from investing activities: Purchases of property and equipment (5,038 ) (14,885 ) Other 6 450 Net cash used in investing activities (5,032 ) (14,435 ) Cash flows from financing activities: Proceeds from Secured Convertible Notes 30,000 — Payments of debt issuance costs (2,397 ) — Tax withholding payments for vested equity-based compensation awards (660 ) (458 ) Proceeds from exercise of Public Warrants 1 — Proceeds from PIPE Investment, net of transaction costs 9,600 — Proceeds from exercise of stock options 911 375 Net cash provided by (used in) financing activities 37,455 (83 ) Net (decrease) increase in cash, cash equivalents and restricted cash (3,467 ) (64,089 ) Effect of foreign exchange rate changes 2,546 10,900 Cash, cash equivalents and restricted cash - beginning of period 24,603 77,792 Cash, cash equivalents and restricted cash - end of period $ 23,682 $ 24,603
Yahoo
28-02-2025
- Business
- Yahoo
Satellogic Inc.'s (NASDAQ:SATL) stock price dropped 29% last week; private companies would not be happy
Satellogic's significant private companies ownership suggests that the key decisions are influenced by shareholders from the larger public 60% of the business is held by the top 4 shareholders Insiders own 15% of Satellogic A look at the shareholders of Satellogic Inc. (NASDAQ:SATL) can tell us which group is most powerful. The group holding the most number of shares in the company, around 33% to be precise, is private companies. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). As a result, private companies as a group endured the highest losses last week after market cap fell by US$111m. Let's take a closer look to see what the different types of shareholders can tell us about Satellogic. See our latest analysis for Satellogic Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. Institutions have a very small stake in Satellogic. That indicates that the company is on the radar of some funds, but it isn't particularly popular with professional investors at the moment. So if the company itself can improve over time, we may well see more institutional buyers in the future. When multiple institutional investors want to buy shares, we often see a rising share price. The past revenue trajectory (shown below) can be an indication of future growth, but there are no guarantees. We note that hedge funds don't have a meaningful investment in Satellogic. Looking at our data, we can see that the largest shareholder is Liberty 77 Capital L.P. with 21% of shares outstanding. In comparison, the second and third largest shareholders hold about 14% and 14% of the stock. Emiliano Kargieman, who is the second-largest shareholder, also happens to hold the title of Chief Executive Officer. On looking further, we found that 60% of the shares are owned by the top 4 shareholders. In other words, these shareholders have a meaningful say in the decisions of the company. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. We're not picking up on any analyst coverage of the stock at the moment, so the company is unlikely to be widely held. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances. It seems insiders own a significant proportion of Satellogic Inc.. Insiders have a US$44m stake in this US$289m business. It is great to see insiders so invested in the business. It might be worth checking if those insiders have been buying recently. With a 27% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Satellogic. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. With an ownership of 21%, private equity firms are in a position to play a role in shaping corporate strategy with a focus on value creation. Some might like this, because private equity are sometimes activists who hold management accountable. But other times, private equity is selling out, having taking the company public. We can see that Private Companies own 33%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. It's always worth thinking about the different groups who own shares in a company. But to understand Satellogic better, we need to consider many other factors. Take risks for example - Satellogic has 1 warning sign we think you should be aware of. Of course this may not be the best stock to buy. Therefore, you may wish to see our free collection of interesting prospects boasting favorable financials. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
