Satellogic Inc. SATL

IndustrialsAerospace & DefenseUnited States of America

Last close 3.32 USD on Nov 1, 2026, +77.5% year to date

Quant rating

Quant rating D Rank 367 of 486 in Industrials

Growth D 426 of 486
Valuation D 346 of 486
Quality D 462 of 486
Revisions A 44 of 486
Momentum C 252 of 486

Wall Street consensus Buy (2.00)Average target 10.20 USD +207.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 510M
Enterprise value: 487M
52-week range: 1.26 – 12.00
3-year range: 0.69 – 12.00
Dividend yield: –
Beta (5 years): 1.49
Shares outstanding: 154M
Next earnings: Nov 10, 2026

About the company

Satellogic Inc. is a vertically integrated geospatial analytics company. It is a provider of high-resolution satellite imagery to governments and commercial customers worldwide. Through its subsidiaries, the Company invests in the software, hardware, and optics of the aerospace industry, focusing on satellite and image analytics technologies. It is engaged in building a fully automated earth observation platform with the ability to remap the entire planet at both high-frequency and high-resolution, making satellite imagery accessible to drive global decision-making. It offers the purchase-to-orbit opportunity for submeter optical satellites. Its Space Systems offering includes NewSat Mark V models; high-launch cadence via SpaceX; direct tasking over any point of interest; optional end-to-end support, including ground segment and data management; global access empowering sovereign missions, and add-on supplemental coverage for multiple daily revisits via the satellogic constellation.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	17.7	12.9	10.1	6.0	4.2	–
Revenue growth	37.6%	27.8%	67.6%	41.6%	–	–
EPS (basic, normalized)	−0.18	–	–	–	–	–
EPS growth	–	–	–	–	–	–
Gross margin	72.5%	61.0%	49.8%	45.4%	55.8%	56.9%
Net margin	−27.0%	−903.4%	−605.7%	−609.5%	−2,267.6%	−882.6%
ROE	−127.6%	–	−77.3%	–	–	−102.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	113
Current ratio	2.34x
Long-term debt (mil)	89.7
Net debt (mil)	−23.1
Total equity (mil)	33.9
Net debt / equity	−0.68x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	17.7	+37.6%	27.5x	–	–	–	−0.18	–	−18.4x
2026	47.1	+166.1%	10.3x	−4.6	–	−106.5x	−1.03	−474.1%	−3.2x
2027	64.0	+35.8%	7.6x	3.7	+181.4%	130.9x	−0.06	+94.4%	−57.7x
2028	94.6	+47.8%	5.2x	11.4	+206.2%	42.7x	0.03	+152.2%	110.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	47.1	0.0%	+25.2%	+43.7%	−1.03	0.0%	−63.0%	−710.5%
2027	64.0	0.0%	+15.7%	+24.3%	−0.06	0.0%	+45.8%	+39.5%
2028	94.6	0.0%	+17.1%	+47.5%	0.03	0.0%	+142.9%	+166.7%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	–	–	–	–	6.2	6.1	15.9
Sales mean (mil)	–	–	–	–	–	–	–	3.8	5.3	9.6
Surprise	–	–	–	–	–	–	–	+63.0%	+15.8%	+66.1%
EPS reported	–	–	–	–	–	–	–	−0.17	−0.84	−0.13
EPS mean	–	–	–	–	–	–	–	−0.05	−0.04	−0.08
Surprise	–	–	–	–	–	–	–	−240.0%	−1,900.0%	−66.7%

Peer comparison Aerospace & Defense

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SATL Satellogic Inc.	510M	–	−27.0%	15.06x	−3.2x	−57.7x	−106.5x	130.9x
EADSY Airbus SE	170.4B	–	–	–	26.2x	23.0x	–	–
HEIa HEICO Corporation	37.9B	2.46x	15.4%	9.08x	37.8x	33.7x	27.0x	24.4x
RKLB Rocket Lab Corp	32.8B	22.46x	−32.9%	9.37x	−190.3x	−571.5x	−581.9x	310.5x
PL Planet Labs PBC	4.9B	−26.92x	−80.2%	8.68x	−208.3x	3,670.3x	471.8x	88.0x
BETA BETA Technologies, Inc.	4.7B	4.26x	−2,704.5%	2.90x	−8.9x	−8.7x	−10.4x	−8.4x
Mean		0.56x	−565.8%	9.02x	−57.8x	514.8x	−40.0x	109.1x
Median		3.36x	−32.9%	9.08x	−6.0x	7.2x	−10.4x	88.0x

Technical analysis

1M−45.1%
3M−5.9%
1Y+74.7%
3Y+300.5%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Satellogic Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	17.7	12.9	10.1	6.0	4.2	0
Cost of revenue	4.9	5.0	5.1	3.3	1.9	0
Gross profit	12.8	7.8	5.0	2.7	2.4	0
Selling, general & administrative expenses	25.7	33.0	37.5	58.7	48.5	12.3
Research & development	10.4	14.4	10.2	12.1	9.5	5.4
Depreciation/amortization	7.7	12.7	17.3	14.3	10.7	3.0
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	0	0	37.2	9.2
Other operating expenses	0	0	9.5	8.5	2.3	1.6
Operating income	−31.0	−52.2	−69.4	−90.9	−106	−31.6
Net interest income (expense)	27.4	−59.1	8.3	57.9	9.3	9.7
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−0.5	−2.1	9.1	0.9	0	0.6
Net income before taxes	−4.1	−113	−51.9	−32.1	−96.5	−21.4
Provision for taxes	0.7	2.9	9.1	4.6	−0.2	0.1
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−4.8	−116	−61.0	−36.6	−96.3	−21.5
Extraordinary items	–	–	–	–	–	–
Net income	−4.8	−116	−61.0	−36.6	−96.3	−21.5
EBIT, normalized	−31.0	−52.2	−69.4	−79.7	−52.4	−22.4
EBITDA, normalized	−23.3	−39.6	−52.1	−65.4	−41.7	−19.4
Basic EPS, normalized	−0.18	–	–	–	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Satellogic Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	94.4	22.5	23.5	76.5	8.5	17.3
Receivables	8.5	1.5	0.9	1.4	1.2	0.8
Total inventory	2.2	0.1	0.2	0.6	0.8	0
Prepaid expenses	1.5	2.9	1.7	1.8	1.2	–
Other current assets	8.5	0.9	0.2	1.0	0.7	0
Total current assets	115	27.9	26.6	81.2	12.4	18.1
Property, plant & equipment	31.7	28.1	44.3	56.2	35.5	36.2
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	–	–	–	–	–	0.1
Note receivable	–	–	–	–	–	0.3
Other long-term assets	4.4	5.7	5.5	6.5	2.0	0
Total assets	151	61.7	76.4	144	49.9	54.6
Liabilities
Accounts payable	2.4	3.8	7.9	9.8	6.7	3.3
Payable/accrued	–	–	–	–	–	–
Accrued expenses	3.1	4.5	6.5	8.6	24.4	1.7
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	0	108	125
Other current liabilities	17.0	26.4	6.9	11.6	144	0.9
Total current liabilities	22.5	34.6	21.4	30.1	284	131
Long-term debt	56.1	79.1	0	0	0	34.8
Minority interest	–	–	–	–	–	–
Other liabilities	12.2	1.0	3.3	7.6	5.6	5.7
Total liabilities	90.8	115	24.7	37.7	289	172
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	473	356	344	338	96.5	63.7
Retained earnings (accumulated deficit)	−405	−400	−284	−223	−186	−181
Treasury stock	−8.6	−8.6	−8.6	−8.6	−171	–
Other equity	0.5	−0.6	0	−0.3	21.2	0
Total equity	60.5	−53.0	51.7	106	−239	−117
Total liabilities & shareholders' equity	151	61.7	76.4	144	49.9	54.6

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Satellogic Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−4.8	−116	−61.0	−36.6	−96.3	−21.5
Depreciation, depletion & amortization	7.7	12.7	17.3	14.3	10.7	3.0
Deferred taxes	–	–	0	1.6	−1.6	0
Non-cash items	−22.5	66.7	−5.4	−38.2	40.4	0.5
Changes in working capital	−7.3	1.0	−0.4	−9.5	18.4	6.8
Cash from operations	−26.9	−35.9	−49.6	−68.5	−28.4	−11.2
Investing activities
Capital expenditures	−7.4	−5.0	−14.9	−27.3	−11.2	−15.8
Other investing cash flows	0	0	0.4	−3.6	0	0
Cash from investing	−7.4	−5.0	−14.4	−30.9	−11.2	−15.8
Financing activities
Financing cash flow items	17.6	6.5	−0.5	–	–	–
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	94.9	30.9	0.4	164	28.6	18.1
Cash from financing	113	37.5	−0.1	164	28.6	18.1
Foreign exchange effects	0.2	2.5	10.9	4.2	2.3	1.5
Net change in cash	78.4	−0.9	−53.2	69.3	−8.7	−7.3
Free cash flow	−34.3	−40.9	−64.5	−95.7	−39.7	−27.0

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.