Satellogic Inc. reported sharp top-line growth but a large non-cash loss for Q1 2026. Revenue rose 80% year-over-year to $6.1 million, driven mainly by higher Data & Analytics imagery demand and new product revenue. Operating loss narrowed to $6.4 million, and Non-GAAP Adjusted EBITDA loss improved to $4.2 million.
The company posted a net loss of $118.3 million, largely due to a $113.0 million non-cash expense from changes in the fair value of financial instruments tied to its Secured Convertible Notes, warrants and earnout liabilities. Despite this, Satellogic generated $0.2 million of net cash from operating activities, its first quarter of positive operating cash flow.
Cash and cash equivalents were $121.9 million as of March 31, 2026, supported by a $35 million registered direct offering completed in January. Remaining performance obligations totaled $64.8 million, with $29.2 million expected within one year, and the company signed a separate $12 million in-orbit satellite contract with a sovereign defense customer. Management highlighted the fully funded Merlin AI-first defense constellation, with first launch targeted for the fourth quarter of 2026 and initial deployment expected in the first half of 2027.
Satellogic Inc. ownership update: Pitanga Invest Ltd. reports beneficial ownership of 1,521,446 Class A common shares, representing 1.15% of the class. The filing is an amendment to a Schedule 13G/A and is labeled under "Ownership of 5 Percent or Less of a Class."
Satellogic Inc. will hold its 2026 virtual annual meeting on June 3, 2026, asking stockholders to elect two Class II directors and ratify Ernst & Young LLP as independent auditor for Fiscal 2026.
The company highlights 2025 revenue of $17.7 million, up 38%, with fourth-quarter revenue growing 94% year-over-year, while operating expenses fell 25%. Satellogic ended 2025 with $94.4 million in cash and $65.1 million in non-cancellable remaining performance obligations, supporting multi‑year revenue visibility. The proxy also outlines its classified seven‑member board structure, committee memberships, executive pay programs and equity incentives, and details ownership of Class A and Class B shares and related‑party and capital markets transactions.
Satellogic Inc. filed an initial ownership report for Chief Technology Officer Alan Kharsansky. He directly holds 47,785 shares of Class A Common Stock. He also has 189,353 and 60,000 Restricted Stock Units tied to Class A shares, plus 87,091 stock options at an exercise price of $1.2656 per share expiring in 2031.
Cantor-affiliated entities report beneficial ownership of 9,302,809 shares of Satellogic Inc. Class A common stock, representing 7.0% of the company. CFAC Holdings V, LLC directly holds 8,488,738 shares, including up to 1,863,696 shares subject to vesting and earn-out forfeiture conditions, while Cantor Fitzgerald Securities holds 814,071 shares.
On April 1, 2026, CFAC sold 733,445 shares in open-market trades at a weighted average price of $6.0102 per share, followed by 622,555 shares at $6.4584 on April 2, 2026, and 500,000 shares at $7.0432 on April 6, 2026. These positions and percentages are based on 132,475,998 Satellogic Class A shares outstanding as of March 13, 2026.
Satellogic Inc. president Matthew Tirman reported an open-market sale of 9,499 shares of Class A Common Stock on March 30, 2026 at a price of $5.179 per share. After this transaction, he directly holds 154,184 shares, indicating he retained a substantial position in the company.
Satellogic Inc. Chief Financial Officer Rick Dunn bought additional Class A Common Stock in two open-market transactions. He purchased 19,050 shares at $5.1700 per share on March 30, 2026, and 16,695 shares at $5.9060 per share on March 27, 2026.
Following these purchases, Dunn directly owns 228,028 shares of Satellogic Inc. Class A Common Stock. All reported holdings are direct, with no derivative securities shown in this filing.
Satellogic Inc. is registering an at-the-market offering of up to $50,000,000 of Class A Common Stock pursuant to a Sales Agreement with Cantor Fitzgerald & Co., Craig-Hallum, Northland and Roth Capital dated March 30, 2026. Shares may be sold from time to time through the designated sales agents at prevailing market prices.
The prospectus supplement references the company’s $200,000,000 shelf registration and states an illustrative post-offering share count of up to 130,698,937 shares assuming sale of 5,059,021 shares at $5.93 per share. Net proceeds, if any, will be used for general corporate purposes. Sales agents may receive commissions up to 3.0% of gross sales.
Cantor Fitzgerald affiliates updated their ownership filing for Satellogic Inc. The reporting group now reports beneficial ownership of 11,302,809 shares of Class A common stock, representing 8.5% of the company, based on 132,475,998 shares outstanding as of March 13, 2026.
CFAC directly holds 10,488,738 shares, including up to 1,863,696 shares subject to forfeiture tied to vesting and earn-out targets, while CFS holds 814,071 shares. On March 25, 2026, CFAC sold 500,000 shares in the open market at a weighted average price of $6.157 per share.
CF&Co. is no longer a beneficial owner of Satellogic Class A shares and is no longer part of the joint filing group. Cantor, CFGM, and Brandon G. Lutnick may be deemed to share voting and dispositive power over the CFAC and CFS holdings but each disclaims beneficial ownership beyond any pecuniary interest.