Satellogic (SATL)
NASDAQ:SATL
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Satellogic
(NASDAQ:SATL)
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Rating:55Neutral
Price Target:
$9.00
▲(29.87% Upside)
Action:ReiteratedDate:05/12/26
The score is held back primarily by weak financial performance (ongoing losses and cash burn) despite improving fundamentals. Technicals are a clear positive with strong trend and momentum, while valuation is constrained by unprofitability and lack of dividend data. The latest earnings call was moderately supportive due to improved cost structure, liquidity, and backlog/pipeline, but execution and timing risks remain.
Positive Factors
Revenue Scale & Margins
Meaningful revenue scaling and a materially higher gross margin (~66% TTM) indicate improving unit economics and stronger product pricing. Over months, higher margins on recurring data/analytics revenue support a path to operating leverage as sales scale and fixed costs are absorbed.
Negative Factors
Persistent Cash Burn
Sustained negative operating and free cash flow means the company remains reliant on external financing until operations generate positive cash. Over months, this elevates dilution and execution risk if backlog conversion or capital raises slow, pressuring long‑term sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scale & Margins
Meaningful revenue scaling and a materially higher gross margin (~66% TTM) indicate improving unit economics and stronger product pricing. Over months, higher margins on recurring data/analytics revenue support a path to operating leverage as sales scale and fixed costs are absorbed.
Read all positive factors
Satellogic (SATL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.08B
Dividend YieldN/A
Average Volume (3M)12.14M
Price to Earnings (P/E)―
Beta (1Y)1.45
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees137
SectorIndustrials
Sector Strength72
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.04
Shares Outstanding132,476,000
10 Day Avg. Volume12,352,775
30 Day Avg. Volume12,136,246
Financial Highlights & Ratios
PEG Ratio0.44
Price to Book (P/B)3.37
Price to Sales (P/S)11.53
P/FCF Ratio-5.96
Enterprise Value/Market Cap0.74
Enterprise Value/Revenue44.98
Enterprise Value/Gross Profit156.43
Enterprise Value/Ebitda-34.21
Forecast
1Y Price Target
$7.88Price Target Upside13.64% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.13
Revenue Forecast (FY)$33.22M
Satellogic Business Overview & Revenue Model
Company Description
Satellogic Inc. builds and operates nano satellites for commercial-grade Earth observation in real-time. It offers data streams that are used in decision-making processes for various branches of government, organizations, businesses, and individua...
How the Company Makes Money
Satellogic primarily makes money by selling access to Earth observation data and geospatial intelligence products derived from its satellite constellation. Its revenue model generally centers on (1) data/imagery licensing and subscriptions, where ...
Satellogic Earnings Call Summary
Earnings Call Date:Mar 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 19, 2026
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.Positive Updates
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.
Negative Updates
Still Unprofitable on an Operating and Adjusted EBITDA Basis
Despite improvements, FY2025 adjusted EBITDA loss remains $17.4 million and operating loss was $31.0 million, indicating the company has not yet achieved operating profitability.
Read all updates
Q4-2025 Updates
Positive
Negative
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.
Read all positive updates
Company Guidance
The company guided that it is entering 2026 with strong momentum and balance-sheet strength—ending 2025 with $94.4M in cash (up from $22.5M), a $65.1M noncancelable RPO backlog (with $28.6M in year‑1) and a >$1B opportunity pipeline—after 2025 results that included revenue up 38% to $17.7M (Q4 $6.2M, +94% y/y), Data & Analytics = $16M (90% of revenue) and Space Systems = $1.7M. Management reiterated durable structural cost improvements (total operating expenses down 25% to $48.7M; engineering -28% to $10.4M; SG&A -22% to $25.7M; depreciation -39% to $7.7M), an improved adjusted EBITDA loss of $17.4M (‑48%) and net cash used in operations of $26.9M (‑25%); Aleph Observer is live today for persistent monitoring, and Merlin (funded by a $30M contract) is in production with first launch targeted Oct 2026 and full operations in H1 2027 (first tranche of 8 satellites, 5‑year life), though the company provided no formal fiscal‑2026 revenue guide.Satellogic Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
46
Neutral
Cash Flow
29
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.71M | 12.87M | 10.07M | 6.01M | 4.25M |
| Gross Profit | 5.09M | 7.85M | 5.02M | 2.73M | 2.37M |
| EBITDA | -23.28M | -100.69M | -34.63M | -16.15M | -77.08M |
| Net Income | -4.78M | -116.27M | -61.02M | -36.64M | -96.31M |
Balance Sheet | |||||
| Total Assets | 151.30M | 61.69M | 76.38M | 143.85M | 49.92M |
| Cash, Cash Equivalents and Short-Term Investments | 94.43M | 22.49M | 23.48M | 76.53M | 8.53M |
| Total Debt | 63.38M | 79.95M | 3.93M | 8.24M | 111.54M |
| Total Liabilities | 90.78M | 114.72M | 24.71M | 37.66M | 289.35M |
| Stockholders Equity | 60.53M | -53.03M | 51.67M | 106.20M | -239.43M |
Cash Flow | |||||
| Free Cash Flow | -34.26M | -40.93M | -64.46M | -95.71M | -39.67M |
| Operating Cash Flow | -26.89M | -35.89M | -49.57M | -68.46M | -28.44M |
| Investing Cash Flow | -7.38M | -5.03M | -14.44M | -30.85M | -11.23M |
| Financing Cash Flow | 112.51M | 37.45M | -83.00K | 164.34M | 28.64M |
Satellogic Technical Analysis
Positive
6.93
Price Trends
4.44
Positive
3.58
Positive
3.35
Positive
Market Momentum
0.88
Positive
61.01
Neutral
51.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SATL, the sentiment is Positive. The current price of 6.93 is above the 20-day moving average (MA) of 6.35, above the 50-day MA of 4.44, and above the 200-day MA of 3.35, indicating a bullish trend. The MACD of 0.88 indicates Positive momentum. The RSI at 61.01 is Neutral, neither overbought nor oversold. The STOCH value of 51.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SATL.
Satellogic Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $578.17M | 29.91 | 2.14% | 0.79% | 4.12% | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | $1.46B | -7.67 | -98.63% | ― | -8.93% | 1.81% | |
55 Neutral | $1.08B | -42.67 | 12.97% | ― | ― | ― | |
55 Neutral | $1.60B | -16.26 | -22.20% | ― | 57.34% | 50.64% | |
54 Neutral | $722.71M | ― | -9999.00% | ― | 86.66% | -97.48% | |
45 Neutral | $218.59M | -1.68 | -137.37% | ― | -74.28% | 24.53% |
* Industrials Sector Average
SATL
Satellogic
7.57
3.42
82.41%
LPTH
Lightpath Technologies
11.51
8.90
341.00%
MLAB
Mesa Laboratories
104.65
-22.38
-17.62%
MVIS
Microvision
0.67
-0.54
-44.79%
BKSY
BlackSky Technology
39.45
27.93
242.45%
OUST
Ouster
25.20
13.73
119.70%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.