GlobeNewswire·Nov 10, 2026, 4:05 PM ET

Satellogic Reports Third Quarter 2026 Financial Results

SATL

Satellogic reported record third-quarter 2026 revenue of $16.0 million, representing a 342% year-over-year increase.
The company achieved positive Adjusted EBITDA of $1.2 million for the second consecutive quarter.
Operating loss narrowed by 72% to $2.3 million compared to the prior-year period.
Merlin.01, the first satellite of the Merlin constellation, launched on October 1, 2026, is now operating with payload commissioning underway.
A post-quarter-end agreement was signed to sell three in-orbit satellites for approximately $37 million, bringing the total value of announced sovereign satellite agreements to roughly $67 million over the past year.
Four in-orbit satellite agreements covering seven satellites were announced over the last twelve months, including a sale to HEO \& a transfer to a sovereign defense customer.
Data & Analytics revenue reached $6.6 million, while Space Systems revenue generated $9.5 million.
Satellogic completed the delivery of a second NewSat Mark V satellite under an $18 million agreement with Portugal's CEiiA.
A three-year Non-Earth Imaging agreement was extended with HEO through 2029, including a seven-figure minimum annual commitment.
The company appointed Vice Admiral Frank D. "Trey" Whitworth as President, Jamil Kawar as Senior Vice President, Space Systems, \& Dustin Greer as Interim CFO.
Cash \& cash equivalents totaled $106.5 million at the end of the quarter, with remaining performance obligations of $66.9 million as of September 30, 2026.
GAAP net income for the quarter was $28.3 million, which included a $30.0 million non-cash gain from changes in the fair value of financial instruments.
For the first nine months of 2026, revenue reached $38.1 million, exceeding the full-year 2025 total by 115%.
Management plans to host a webcast \& conference call on November 10, 2026, at 4:30 p.m. ET to discuss these results.

Company: Satellogic, Inc.
Keywords: Nasdaq:SATL, Satellogic, Inc.