Business
Satellogic Provides Business Update
Asset Monitoring Revenue Grew at a 35% CAGR Year-to-Date through October with Constellation-as-a-Service (CaaS) Business Gaining Momentum Following a
About this update from Satellogic Inc.
[{"type":"text","content":"\nAsset Monitoring Revenue Grew at a 35% CAGR Year-to-Date through October with Constellation-as-a-Service (CaaS) Business Gaining Momentum Following a Multi-Million-Dollar Agreement Awarded from the Republic of Albania\n\nFully Funded, Debt-free 2023 Business Plan with Expectation of Reaching Adjusted EBITDA Breakeven in 2024\n\n$124 million in Cash at 1H 2022; Expected to be $78 - $82 million at End of 2022\n\nEstablished New ‘Space Systems’ Business Line to Sell Satellites Directly to Select Customers, with Unmatched Build-to-Launch Cycles of Less than 8 months\n\nLargest High Resolution Commercial Capture Capability (6.2MM sq km daily) in the World; Expanded Fleet to 26 Satellites in 2022\n\nFull Financial Results for 1H 2022 to be Issued Prior to Year End\n\nManagement to Host Conference Call Today at 4:30 p.m. ET\n\n NEW YORK--(BUSINESS WIRE)--\nSatellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation (“EO”) data collection, today provided a business update.\n\n“In the first half of 2022, Satellogic took the most significant steps in our history towards realising our mission, beginning to fully commercialize low Earth Observation,” said Satellogic CEO, Emiliano Kargieman. “We began the year with the milestone achievement of a successful public listing of our ordinary shares on the Nasdaq. Today, we are currently operating 26 satellites in orbit, the largest commercial fleet of sub-meter resolution satellites in the world with the largest daily data collection capacity.\n\n“Our customers are using our imagery and derived data every day to monitor points of interest around the world. Our Asset Monitoring revenue has grown at a 35% CAGR year-to-date through October. Our Constellation-as-a-Service (CaaS) business has recently gained momentum with a three-year agreement awarded from the Republic of Albania to access a dedicated satellite constellation.\n\n“We have also established a new business line, Space Systems (satellite sales), that will allow us to sell our satellites directly to select customers where satellite ownership is important. Our fast build-to-launch cycles allow us to go from a signed contract to a satellite delivered in orbit in less than 8 months, a first in this industry.\n\n“Along with continued financial and operational momentum, we expect to continue to build and launch satellit...