Satellogic reported first quarter revenue of $6.1 million, an 80% increase year-over-year, driven by growth in both its Data & Analytics and Space Systems segments. The company posted a significant net loss of $118.3 million, primarily due to a $113.0 million non-cash charge from the remeasurement of financial instruments. Operationally, the company showed significant improvement, narrowing its operating loss by 33% and its Adjusted EBITDA loss by 32% to $4.2 million, while also reaching a key milestone of positive operating cash flow.
Key Highlights
- Revenue growth accelerated to 80% year-over-year, reaching $6.1 million, driven by increased demand from new and existing Data & Analytics customers.
- The company achieved its first-ever quarter of positive operating cash flow, generating $0.2 million, a $4.9 million improvement from the prior-year period.
- Adjusted EBITDA loss narrowed by 32% to $4.2 million, demonstrating improved operating leverage and financial discipline.
- Remaining performance obligations (RPO) stood at $64.8 million, providing visibility into future revenue, with $29.2 million expected to be recognized within one year.