Satellogic reported second-quarter revenue of $15.9 million, a 259% year-over-year increase that significantly beat analyst estimates. The company also reached a key milestone, achieving its first-ever quarter of positive operating income and positive Adjusted EBITDA. However, the company reported a GAAP net loss of $(0.13) per share, missing expectations due to a $19.7 million non-cash charge related to financial instruments.
Key Highlights
- Second quarter revenue grew 259% year-over-year to $15.9 million, driven by an $8.3 million increase in Space Systems revenue and a $3.2 million increase in Data & Analytics revenue.
- The company achieved positive operating income of $0.3 million and positive Adjusted EBITDA of $2.8 million for the first time in its history, a significant improvement from prior-year losses of $6.3 million and $3.9 million, respectively.
- Key contract wins during the quarter included a one-year agreement valued at over $18 million with an international defense customer and a $12 million agreement to sell an in-orbit satellite to a sovereign defense customer.
- Satellogic ended the quarter with $80.7 million in remaining performance obligations, providing visibility into future revenue.