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Satellogic plans to redomicile to Delaware on 2023-09-21.
Satellogic had earlier projected $132,000,000 in sales for 2023.
Satellogic’s revenue for the first half of 2023 increased 33% year-over-year to $3,200,000.
Satellogic will work with a U.S. ground station provider as part of plans to move operational control of its constellation to the United States.
Satellogic reported a $30,000,000 net loss for the first half of 2023, compared with an $8,000,000 net loss for the same period in 2022.
Satellogic Inc. and SkyWatch are partnering to provide Satellogic's highest resolution, commercially available Earth Observation (EO) data to EarthCache customers.
Satellogic's EO data is now accessible via SkyWatch's EarthCache platform.
Satellogic designs, manufactures, and operates its own constellation of high-resolution EO satellites.
SkyWatch's partnership with Satellogic aims to increase access to EO data and provide customers with more options on the EarthCache platform.
Satellogic believes that EO data can enhance decision-making and foster a better understanding of our changing planet and sustainability opportunities.
Satellogic is working toward the goal of delivering daily global remaps.
Satellogic has not announced a customer for the Earth-observation satellites it said in March it could sell for less than $10,000,000 each.
Satellogic projected $132,000,000 in revenue for 2023 during a November 2021 analyst day presentation.
Satellogic’s CFO Rick Dunn linked reaching the $10,000,000 to $20,000,000 revenue target for 2023 to closing opportunities within the space systems business.
Satellogic shares declined from a high of $4.03 in January to close at $1.36 on 2023-09-21.
Satellogic previously forecasted $30,000,000 to $50,000,000 in revenue for the full year 2023 as of December of the prior year.
Satellogic ended the first half of 2023 with $42,000,000 in cash, compared with $77,000,000 on 2023-12-31 of the prior year.
Satellogic raised $168,000,000 from its SPAC merger.
Satellogic is forecasting full-year 2023 revenue of between $10,000,000 and $20,000,000.
Satellogic reported revenue of $3,200,000 in the first half of 2023, a 33% increase year-over-year.