SATL earnings analysis
What we found in SATL's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Satellogic's Q1 2026 results showed a significant revenue increase to $6 million, exceeding prior estimates of $5.5 million. However, the company faced a large EPS miss at -$0.84 compared to expectations of -$0.05, indicating persistent challenges in operational efficiency despite overall revenue growth.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Surpasses Expectations
- Actual revenue reached $6 million, above the $5.5 million expected, marking a 100% increase compared to $3 million in the prior year.
- Improved Gross Margin
- Gross margin was 76.2%, substantial improvement from 63.5% in the previous quarter.
- Persistent Negative EPS
- The diluted EPS of -$0.84 is a significant drop compared to -$0.34 in 2025Q1.
- Operating Margins Remain Negative
- Operating margin improved to -104.2%, better than -280.9% in the prior quarter.
- Free Cash Flow Reduction
- Free cash flow at -$5 million shows a decrease in cash burn compared to -$7 million in the previous quarter.
- Consistent Revenue Growth Trajectory
- Management indicates a strong technology roadmap supporting continued revenue growth.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Negative EPS Trend
- EPS decreased from -0.34 to -0.84 year-over-year, highlighting ongoing financial struggles.
- High Cash Burn Rate
- Free cash flow remains negative at -$5 million, raising liquidity concerns.
- Leadership Stability Issues
- The recent CFO departure could affect strategic direction and operational consistency.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.84
- Gross margin
- 76.2%
- Operating margin
- -104.2%
What they said about what is next.
Management anticipates continued revenue momentum and operational improvement but did not provide specific numeric guidance.
The filing reads about the same as the one before it.
What came before.
- 10-K · June 17, 2026
- Satellogic Inc. reported significant revenue growth in 2025, with total revenue reaching $6 million in Q4 2025, an increase from $4 million in the previous quarters. However, the company faced substantial operating…
- 10-Q · May 12, 2026
- In Q1 2026, Satellogic reported a significant revenue increase of 80% year-over-year, reaching $6.1 million, while EPS stood at -$0.84, below estimates. The gross margin improved to 67.5%, showcasing efficient…
- 10-K · March 19, 2026
- Satellogic reports full-year 2025 revenue of $17,707 (in thousands) vs $12,870 (in thousands) in 2024, and 17 operational satellites with two in commissioning as of December 31, 2025. The company is executing a…
- 10-Q · August 12, 2025
- Satellogic reported Q2 revenue of $4,440,000, up from $3,501,000 in Q2 2024, with gross margin expanding to ~73.2% and diluted EPS improving to a loss of $(0.06) from $(0.20) a year earlier. Operating loss narrowed to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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