Satellogic’s Q1 Revenue Soars 80% to $6.1M, Secures $12M Satellite Deal
Satellogic’s Q1 revenue jumped 80% to $6.1 million, operating loss narrowed 33% to $6.4 million, and it generated its first operating cash flow of $0.2 million. The company ended Q1 with $121.9 million in cash, signed a $12 million in-orbit satellite deal, and unveiled its Merlin AI-first constellation.
1. Q1 Financial Performance
Satellogic reported Q1 revenue of $6.1 million, an 80% increase year-over-year, with operating loss narrowing by 33% to $6.4 million and adjusted EBITDA loss improving 32% to $4.2 million. The company generated positive operating cash flow of $0.2 million, a $4.9 million swing from the prior year quarter.
2. Sovereign Defense Contract
In April the company signed a $12 million agreement to transfer ownership of an in-orbit NewSat satellite to a sovereign defense customer, marking its second such contract in two quarters. It also expanded Phases II and III of the Slingshot Program with the U.S. Office of Naval Research and IDT, deepening its U.S. defense and intelligence partnerships.
3. New Product Launches
Satellogic introduced its Merlin AI-first defense constellation, fully funded and designed to remap the planet daily at 1-meter resolution, with a first launch planned for Q4 2026 and full deployment by H1 2027 without requiring additional capital. The company also launched Aleph Observer, a subscription product offering persistent monitoring, rapid image delivery and analytics for multi-year engagements.
4. Cash Position and Outlook
Cash and cash equivalents reached $121.9 million at quarter end, bolstered by a $35 million registered direct offering in January. Remaining performance obligations stood at $64.8 million, providing a clear path to sustained profitability and supporting growth investments and Merlin development.