One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Satellogic Inc.
SATL · NCM · Industrials · Aerospace & Defense
Current price
$6.17
52-week range
$1.25 - $12.00
Market cap
$948.58M
Balance sheet
Healthy
-2,386.08x Concerning
Net cash $16.32M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
0 Risks
1 rewards · 0 risks
View details ↓What this company does
Satellogic Inc.
Satellogic builds and operates its own network of satellites that take high-resolution pictures of Earth from space. The company makes money selling this imagery and data analysis to governments and large businesses, which use the information to make important decisions about things like national security, energy supplies, and food security.
How the company got here
Satellogic was started in 2010 by Emiliano Kargieman and Gerardo Richarte with the goal of making information from space more accessible. The company spent its first several years developing and launching its initial satellites, proving it could build and operate its own fleet. A major turning point came in 2022 when it became a publicly traded company on the Nasdaq stock exchange, which provided significant funding to expand its constellation (a group of satellites working together). More recently, the company officially relocated to the United States to better serve government and defense customers.
What it actually does
Satellogic designs, builds, and operates a large fleet of small satellites that take high-resolution pictures of the Earth. Think of it as a company that owns very powerful cameras in space, which it can point at almost any location on the planet. It then sells this imagery and data analysis to governments and businesses who need to monitor specific assets, track changes over time, or gain insights into things like agriculture, infrastructure, and environmental conditions. Because Satellogic builds its own satellites, it can do this at a lower cost than many competitors.
Data & Analytics
This is the company's primary and more established business, where customers buy access to satellite imagery and data insights. Clients, such as a government monitoring its borders or an agricultural company checking crop health, pay for images of specific locations or subscribe to services that provide regular updates. This part of the business focuses on selling information as a service, and it has been the largest source of the company's sales.
Space Systems
This is a newer and rapidly growing part of the business where Satellogic sells entire satellites or dedicated use of its satellite network directly to governments. This is often called a "sovereign" capability, meaning a country can own and control its own space-based intelligence assets without sharing them. Instead of just buying data, the customer, typically a national government, pays Satellogic a much larger amount to have its own dedicated "eye in the sky." This segment is becoming a significant driver of revenue growth for the company.
What management is betting on now
The company's main focus is on expanding its "sovereign" offerings, providing entire satellite systems to allied governments who want direct control over their own intelligence gathering. Management believes this is a major growth area as more countries seek independent space capabilities. At the same time, Satellogic is investing heavily in its next-generation "Merlin" constellation, which aims to remap the entire planet daily. This would allow for a shift from taking pictures on request to providing a continuously updated, searchable map of the world for monitoring global activities in near real-time.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-9.37M
FY2024 Q4
$-4.34M
FY2025 Q1
$-6.63M
FY2025 Q2
$-5.12M
FY2025 Q3
$-9.71M
FY2025 Q4
$-12.80M
FY2026 Q1
$-5.39M
FY2026 Q2
$-14.27M
Revenue
$15.92M
Net income
$-20.05M
Diluted EPS
-0.13
Operating cash flow
$-8.63M
Free cash flow
$-14.27M
Fetching…
Sources
Revenue
$6.11M
Net income
$-118.30M
Diluted EPS
-0.84
Operating cash flow
$158.00K
Free cash flow
$-5.39M
Fetching…
Sources
Revenue
$6.25M
Net income
$30.48M
Diluted EPS
0.24
Operating cash flow
$-9.45M
Free cash flow
$-12.80M
Fetching…
Sources
Revenue
$3.63M
Net income
$3.97M
Diluted EPS
-0.02
Operating cash flow
$-8.37M
Free cash flow
$-9.71M
Fetching…
Sources
Revenue
$4.44M
Net income
$-6.65M
Diluted EPS
-0.06
Operating cash flow
$-4.34M
Free cash flow
$-5.12M
Fetching…
Sources
Revenue
$3.39M
Net income
$-32.58M
Diluted EPS
-0.34
Operating cash flow
$-4.72M
Free cash flow
$-6.63M
Fetching…
Sources
Revenue
$3.22M
Net income
$-70.90M
Diluted EPS
-0.78
Operating cash flow
$-3.63M
Free cash flow
$-4.34M
Fetching…
Sources
Revenue
$2.82M
Net income
$-12.09M
Diluted EPS
-0.13
Operating cash flow
$-8.36M
Free cash flow
$-9.37M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $6.17
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $16.3M - more cash than debt. Interest coverage -2386.1x.
Net debt
$-16.32M
Interest coverage
-2,386.08x
Satellogic Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
SATL
BASELINE
Satellogic Inc.
Total debt $96.49M Interest coverage -2,386.08x This is the baseline the peer rows are being compared against.
Total debt $498.62M Interest coverage -27.67x Neither company has much profit cushion over interest right now.
Total debt $221.33M Interest coverage -3.14x Neither company has much profit cushion over interest right now.
Total debt $9.69M Interest coverage -11.71x Neither company has much profit cushion over interest right now.
Total debt $133.69M Interest coverage -8.64x Neither company has much profit cushion over interest right now.
What you should know
The case for and against SATL
1 Reward
0 Risks
Rewards
-
Revenue grew 80.2% last year.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-205.67x
P/B
28.05x
P/S
29.73x
EV/EBITDA
-59.87x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
78.9%
Operating margin
1.7%
Net margin
0.0%
ROE
—
ROA
-9.9%
Health
Liquidity and balance-sheet strength
Debt / equity
2.85x
Current ratio
2.34x
Quick ratio
2.10x
Total debt
$96.49M
Total cash
$112.81M
Growth
How the business has been compounding
Revenue TTM
$31.91M
Revenue 5Y CAGR
42.9%
EPS TTM
-0.74
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-26.29M
Free CF TTM
$-34.26M
FCF margin
-107.4%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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