Satellogic (SATL)
NASDAQ:SATL
Earnings Data
Report Date
May 19, 2026Before Open (Not Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.04Last Year’s EPS
-0.34Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a materially improved financial and operational profile: strong revenue growth (38% FY, 94% Q4), significant durable cost reductions (25% operating expense reduction) and a strengthened cash position ($94.4M) enabling execution. Management highlighted clear strategic shifts (U.S. domicile, product focus), commercial momentum with sovereign wins (e.g., $18M Portugal deal) and product innovation (Aleph Observer live; Merlin fully funded and in production). Remaining challenges include ongoing operating losses and cash burn, modest current revenue base relative to opportunity, reliance on non-operating fair value gains for a portion of GAAP improvement, and timing risk for Merlin revenue recognition. On balance, the call emphasized momentum and de-risking toward scale and recurring, subscription-style revenue, with risks primarily around execution and timing of large initiatives.Company Guidance
Revenue Growth — Full Year and Q4
Total revenue for FY2025 was $17.7 million, up 38% year-over-year from $12.9 million in 2024. Q4 2025 revenue was $6.2 million, up 94% year-over-year from $3.2 million in Q4 2024.
Data & Analytics Dominance
Data & Analytics represented 90% of total revenue at $16.0 million, highlighting strong commercial traction in recurring imagery and analytics products.
Material Cost and Expense Reductions
Total operating expenses declined 25% year-over-year to $48.7 million. Key line-item improvements included engineering expenses down 28% to $10.4 million, SG&A down 22% to $25.7 million, cost of sales (ex-depreciation) down 3% to $4.9 million, and depreciation down 39% to $7.7 million.
Profitability Trajectory — Improved Losses
Operating loss improved 41% to $31.0 million from $52.2 million in 2024. Adjusted EBITDA loss improved 48% to $17.4 million from $33.7 million. Q4 adjusted EBITDA loss improved by $4.4 million to $3.1 million.
Dramatically Improved Net Loss Driven by Non-Operating Items
Net loss narrowed to $4.8 million in 2025 versus a $116.3 million loss in 2024, an improvement of $111.5 million, primarily driven by an $85.9 million favorable year-over-year change in the fair value of financial instruments in addition to operating improvements.
Strong Balance Sheet and Liquidity
Cash and cash equivalents ended FY2025 at $94.4 million (vs. $22.5 million year-end 2024), reflecting a $90 million public offering in Oct 2025 and subsequent $35 million registered direct offering closed Jan 2026. Net cash used in operating activities declined 25% to $26.9 million.
Backlog and Pipeline Visibility
Noncancelable remaining purchase obligations (backlog) totaled $65.1 million as of 12/31/2025 (with $28.6M expected within 1 year). Management cites a broader pipeline of opportunities exceeding $1 billion.
Strategic and Product Advances — Aleph Observer and Merlin
Aleph Observer (persistent, subscription-style monitoring product) is live. Merlin, a fully-funded AI-first constellation to remap the planet daily at 1-meter resolution, is in full production (first launch expected Oct 2026, initial tranche of 8 satellites, operational H1 2027) and funded by customer contracts including a previously announced $30M contract.
Sovereign and International Wins
Key commercial/sovereign wins include an $18 million CEiiA (Portugal) contract for two NewSat Mark V satellites (first European sovereign deployment), a 7-figure agreement with Suhora (India), and an Albania contract extension. Company emphasizes ability to deliver quickly, low all-in cost per new satellite ($1.3M), and non-ITAR design enabling broader international opportunities.
U.S. Domicile and Market Access
Completed U.S. domicile (Delaware) in March 2025, positioning the company to pursue U.S. government, defense and intelligence contracts and allied government opportunities; work with primes and partners underway.
SATL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SATL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 19, 2026 | $2.96 | $3.28 | +10.81% |
Nov 10, 2025 | $1.60 | $1.62 | +1.25% |
Aug 12, 2025 | $3.48 | $3.61 | +3.74% |
May 13, 2025 | $4.09 | $4.15 | +1.47% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Satellogic (SATL) report earnings?
Satellogic (SATL) is schdueled to report earning on May 19, 2026, Before Open (Not Confirmed).
What is Satellogic (SATL) earnings time?
Satellogic (SATL) earnings time is at May 19, 2026, Before Open (Not Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SATL EPS forecast?
SATL EPS forecast for the fiscal quarter 2026 (Q1) is -0.04.