Overview

• US geospatial intelligence platform's fiscal Q1 revenue grew 80% yr/yr

• Adjusted EBITDA loss for fiscal Q1 improved 32% yr/yr

• Company signed $12 mln satellite delivery agreement with sovereign defense customer

Outlook

• Company expects first Merlin satellite launch in Q4 2026, full deployment in H1 2027

• Satellogic says Merlin constellation is fully funded by customer contracts, no incremental capital required

• Company expects to recognize $29.2 mln in revenue from performance obligations within one year

Result Drivers

• DATA & ANALYTICS DEMAND - Q1 revenue growth was driven by increased imagery orders from new and existing Data & Analytics customers, per CFO Rick Dunn

• SPACE SYSTEMS REVENUE - Growth in Space Systems line contributed to overall revenue increase, with segment revenue rising to $1.5 mln from $0.4 mln yr/yr

• ASIA-PACIFIC EXPANSION - Asia and Asia Pacific revenue grew more than 700% yr/yr to $3.0 mln, reflecting regional growth

Company press release: ID:nGNX5mzFqQ

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue		$6.10 mln
Q1 EPS		-$0.84
Q1 Adjusted EBITDA		$4.23 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the wireless telecommunications services peer group is "buy"

• Wall Street's median 12-month price target for Satellogic Inc is $7.00, about 7.5% below its May 8 closing price of $7.57

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.