Back

Geospatial constellation operator Satellogic: H1 rev up 15%, reduced loss, but urgent need for cash within 12 months

Geospatial constellation operator Satellogic: H1 rev up 15%, reduced loss, but urgent need for cash within 12 months
https://www.spaceintelreport.com/geospatial-constellation-operator-satellogic-h1-rev-up-15-reduced-loss-but-urgent-need-for-cash-within-12-months/
By: 
August 21, 2025

The aviation boneyard in Arizona. Credit: Satellogic

reported a 15% increase in revenue for the six months ending June 30 compared to the same period a year ago and a much narrower operating loss but remains in need of additional cash to continue operations for the next 12 months.

Satellogic, which relocated to the United States earlier this year from the British Virgin Islands to increases its appeal to U.S. government customers, told investors it is looking at multiple sources of revenue, including an equity raise. But its current debt covenants limit its ability to take on new debt.

Credit: Satellogic Aug. 12, 2025, filing to the SEC

The company has reduced staff and slowed the growth of its constellation to conserve cash. As of June 30, it had 21 high-resolution optical imaging satellites in orbit, well short of the 200 operational satellites it has said it would need to realize the high-revisit-rate promise of its business model.

Satellogic did not identify any special issues relating to the new U.S. tariff regime. Its satellites are built mainly in Uruguay.

Unlike neighboring Brazil, slapped with a 50% tariff, Uruguay has a 10% tariff, which means Satellogic Inc. will pay 10% more for its imports to the United States.

Satellogic’s satellite have an operational life of between three and five years in low Earth orbit. The company did not detail what its launch plans were for the coming year.

with a total of $10.7 million in launch contracts scheduled through 2028.

For the six months ending June 30, Satellogic reported revenue of $7.83 million, up from $6.83 million a year ago. Its operating loss for the period was $15.8 million, compared to a loss of $29.3 million a year earlier.

The company in April reported a multi-year, $30-million contract with an unnamed  “strategic defense and intelligence customer” for low-latency analytics from its constellation.

had been selected to lead the Malaysian government’s high-resolution Earth observation project. It did not detail the expected revenue from it.

, which netted $27.6 million after expenses and carries an interest rate of the Secured Overnight Financing Rate (SOFR), currently around 4.3%, plus 6.5%. An additional 4% is added to the annual interest if Satellogic defaults on the notes, which mature in April 2028.