Q2 2026 Satellogic Inc Earnings Call Transcript

Aug 5, 2026 / 08:30 PM GMT

Release Date Price: €3.92 (+13.48%)

Transcript 10-Q8-K

Key Points

Positve

Satellogic Inc (SATL) achieved record Q2 2026 revenue of $15.9 million, a 259% year-over-year increase, and reported its first-ever positive operating income and adjusted EBITDA of $2.8 million.
The company's contracted non-cancellable backlog (RPO) stands at $80.7 million, with $45.8 million expected to be recognized within the next 12 months, providing strong top-line visibility.
Satellogic Inc (SATL) is seeing strong traction in its persistent monitoring subscription business, with data and analytics revenue growing 54% sequentially to $7.1 million in Q2.
The company's Merlin constellation remains on track for its first launch in October 2026, with the first satellite fully integrated and ready to ship, and the program is fully funded.
Satellogic Inc (SATL) ended the quarter with a strong liquidity position of $112.8 million in cash and reduced its secured convertible debt from $30 million to $18 million through an equity conversion.
The company is capitalizing on strong sovereign and defense demand, securing multiple key contracts including an $18 million defense agreement and a $12 million satellite delivery deal.

Negative

Satellogic Inc (SATL) reported a GAAP net loss of $20 million for the quarter, largely due to a $19.7 million non-cash fair value charge from the remeasurement of financial instruments tied to stock price movement.
The company's GAAP operating cash flow was negative at $8.6 million in Q2, and only break-even on an adjusted basis when including proceeds from an in-orbit satellite sale.
Satellogic Inc (SATL) is undergoing a CFO transition, with Rick Dunn departing on August 21, 2026, and a permanent successor has not yet been appointed, creating potential leadership uncertainty.
The company's relationship with Palantir has historically been structured as a barter transaction with zero net cash, and the future of this partnership beyond the current contract remains uncertain.
While the pipeline is strong, space systems deals remain lumpy with long and variable sales cycles, ranging from four months to three years, which can create revenue unpredictability.
The company is not yet sharing key subscription metrics like ARPU or MRR, making it difficult for investors to fully assess the growth and profitability of its persistent monitoring business.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SATL.OQ - Satellogic Inc.
Q2 2026 Satellogic Inc Earnings Call
Aug 05, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. And welcome to the Satellogic Second Quarter 2026 Financial Results Conference Call.

All lines have been placed in a listen-only mode, and the floor will be open for your questions following the presentation.

During today's call, management may make statements relating to goals and objectives for the future operations, financial and business trends. Business prospects, future financial metrics, customer contracts and pipeline, revenue generation, and expectations for future performance that constitute forward-looking statements under the federal securities laws.

Any such forward-looking statements reflect management expectations based upon currently available information and are not guarantees of

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