Satellogic (SATL) Investor presentation summary

Financial performance

• Q2 2026 revenue $15.9M, up 259% YoY; H1 revenue $22.0M, up 181% YoY.

• First positive operating income of $0.3M and Adjusted EBITDA of $2.8M in Q2; gross margin 82%, excluding depreciation.

• Cash and equivalents $112.8M; RPO $80.7M as of Q2 2026. GAAP net loss $20.0M included a $19.7M non-cash change in fair value of financial instruments.

• $12M of convertible notes converted, reducing principal from $30M to $18M.

Commercial momentum

• Portugal CEiiA received the first of two satellites in an $18M program; an Albania extension is also listed.

• May 2026: international defense agreement exceeding $18M for one-year persistent EO, with a path to full scale; April 2026: $12M in-orbit NewSat contract transferred to a sovereign defense customer.

• SynMax and SpaceKnow partnerships bring AI-powered geospatial products to the Persistent Global Intelligence platform.

• More than 55 satellites launched and over 10 years of in-orbit heritage; deployments and partnerships span the U.S., Europe, Asia-Pacific and Australia.

Market and business model

• Positioning shifts from transactional imagery and fragmented snapshots to persistent monitoring, continuous signal streams and intelligence feeds for global areas of interest.

• Customer path progresses from on-demand imagery to subscription-based persistent monitoring, then sovereign satellites and national space infrastructure.

• Differentiation centers on vertical integration, patented optics, lower cost per image, dedicated allied-government capacity and AI processing on the ground and in orbit.

• Management cites 50+ sovereigns funding dedicated military space budgets and NATO allies’ commitment to 5% of GDP for defense by 2035.