Satellogic Inc. · NASDAQ:SATL
Satellogic — SPAC Merger (November 2021)
83 slides from Satellogic's SPAC merger presentation, Nov 18, 2021
Slide 1: Analyst Day November 2021
Ss yj ZV ANALYST DAY NOVEMBER 2021 SATELLOGIC:
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Disclaimers and Other Important Information This presentation (this “Presentation”) was prepared solely by, and is being provided by, Nettar Group Inc. (“Satellogic” or the “Company”) for informational purposes only. This Presentation relates to a proposed business combination betwe
Slide 3: Legal Disclaimer (Cont'd)
LEGAL DISCLAIMER (CONT’D) Financial Information; Non-GAAP Financial Terms Some of the projected financial information and data contained in this Presentation, such as Adjusted EBITDA, free cash flow and related measures, has not been prepared in accordance with United States generally accepted accou
Slide 4: Agenda
AGENDA Introduction Competitive Advantages Market Opportunity Recent Announcements Financial Targets / Valuation Q&A CONFIDENTIAL 4
Slide 5: Company Representatives and Guest Speakers
CONFIDENTIAL 5 COMPANY REPRESENTATIVES GUEST SPEAKERS EMILIANO KARGIEMAN CEO & Founder RICK DUNN CFO MATT TIRMAN President, Satellogic North America RYAN DRIVER VP, Corporate Development MAJ. GEN. (Retired) CLINT CROSIER Director, Aerospace and Satellite Solutions at Amazon Web Services JIM HOLLIS C
Slide 6: CEO & Founder Emiliano Kargieman
CONFIDENTIAL 6 CEO & Founder 25+ years building technology and technology companies Co founded Core Security Technologies: developed the first automated penetration testing software, has worked with clients such as Apple, Cisco, Homeland Security, NSA, NASA and Lockheed Martin Co founded GarageLab,
Slide 7: In an increasingly complex and volatile world, being prepared for tomorrow
In an increasingly complex and volatile world, being prepared for the challenges of tomorrow requires a new way to look 7
Slide 8: Satellogic's mission is to be the information platform solving Earth's greatest challenges
SATELLOGIC’S MISSION IS TO BE THE INFORMATION PLATFORM SOLVING EARTH’S GREATEST CHALLENGE FOOD SUPPLY ENERGY SUPPLY WATER SUPPLY CLIMATE CHANGE IMMIGRATION Crop detection, Infrastructure and Watershed monitoring, Planetary health Border control, maturity and health, production monitoring water quali
Slide 9: The current category is broken
THE CURRENT CATEGORY IS BROKEN Terrestrial methods of obtaining Earth Observation Earth Observation satellite data has had limited imagery have a number of critical shortcomings commercial applicability to date DEFENSE & INTELLIGENCE OTHER SMALL SATELLITES LONG LEAD HIGH CANNOT CANNOT MANUALLY HIGH
Slide 10: Focused on solving the high cost and technological constraints of Earth observation
SATELLOGIC IS FOCUSED ON SOLVING THE HIGH COST AND TECHNOLOGICAL CONSTRAINTS OF EARTH OBSERVATION Resolution Sub-Meter Frequency Daily Pricing Dynamic CONFIDENTIAL 10
Slide 11: Founded in 2010, commercial in 2017, first customer in 2018
FOUNDED IN 2010, COMMERCIAL IN 2017, FIRST CUSTOMER IN 2018 Signed first Approved to launch Announced commercial with Arianespace merger with contract (July 2019) and CF Acquisition SpaceX (Dec 2019) Corp. V Secured Satellogic First Design Completed dedicated Signed first DSC was founded prototype p
Slide 12: Recent Highlights Since July 2021
RECENT HIGHLIGHTS SINCE JULY 2021 SATELLOGIC NORTH AMERICA HIGH THROUGHPUT FACILITY SALES AND BOOKINGS $56mm1 5 NEW BOARD MEMBERS2 SAAS PLATFORM (BETA) COLLABORATION 1 Backlog: signed contracts pending product and service delivery 2 New Board members to be elected CONFIDENTIAL 12
Slide 13: Satellogic is creating a searchable Earth
SATELLOGIC IS CREATING A SEARCHABLE EARTH1 GLOBAL DAILY UPDATED CATALOG REMAPPING OF OF EVERYTHING EVERY SQFT ON EARTH With the ability to provide additional layers of insight… Object Identification Scene Classification Predictive Models Change Tracking Driving better decision-making across industri
Slide 14: Industry-leading, high-quality products at unmatched pricing
PROVIDING INDUSTRY-LEADING, HIGH-QUALITY PRODUCTS AT UNMATCHED PRICING MULTISPECTRAL IMAGERY HYPERSPECTRAL IMAGERY FULL-MOTION VIDEO CONFIDENTIAL 14
Slide 15: Cardon Refinery, Venezuela
Cardon Refinery, Venezuela Image captured by NewSat-16
Slide 16: Cumbre Vieja Volcano Eruption, La Palma, Spain
Cumbre Vieja Volcano Eruption, La Palma, Spain Image captured by NewSat-13
Slide 17: Scaling our constellation
SCALING OUR CONSTELLATION 2021 2025+ 17 COMMERCIAL SATELLITES 300+ SATELLITES IN ORBIT Proven Technology in Orbit: Daily Remaps of the Planet <1-meter resolution Multispectral Fully-Automated Platform 25-meter resolution Hyperspectral Improved Capabilities Full Motion Video CONFIDENTIAL 17
Slide 18: Patented optical technology gives 10x advantage in capture capacity
PATENTED OPTICAL TECHNOLOGY GIVES SATELLOGIC 10x ADVANTAGE IN CAPTURE CAPACITY Satellogic is the only Barcelona, Spain Louisiana, USA company able to deliver: Multispectral Imaging Sub-meter Resolution + Hyperspectral Imaging Multispectral Camera Dusting for fingerprints <1-m Resolution Hyperspectra
Slide 19: Satellogic's vertical integration / R&D
SATELLOGIC’S VERTICAL INTEGRATION / R&D Vertical integration enables Satellogic to have shorter R&D cycles, go to market quicker and reduce satellite costs by up to 80% vs. competitors1 VERTICAL INTEGRATION COST REDUCTION $450k bill of materials vs. $10mm Design, manufacturing and / or for competito
Slide 20: Acquisition cost per km2 is lower than competitors
SATELLOGIC’S ACQUISITION COST PER KM2 IS LOWER THAN COMPETITORS Acquisition cost per KM2 (in USD)1 $56.07 $52.41 $38.81 Our unmatched unit economics $27.45 allow Satellogic to deliver the right product at the right price $0.46 for the right customer. WorldView-4 Pleiades GEN-2 SkySat NewSat Mark-V 1
Slide 21: Our patented approach is the most capable and affordable option
OUR PATENTED APPROACH IS THE MOST CAPABLE AND AFFORDABLE OPTION Large Spotlight Multiple image Aperture Maneuver postprocessing (e.g. WorldView-4) (e.g. GEN-2) (e.g. SkySat) NewSat Mark-V COST (mm)1 $835 2 $10 3 $10 4 <$1 DAILY CAPACITY (km2) 680,000 5 29,040 6 26,667 7 300,000+ ACQUISITION COST (pe
Slide 22: Building a superior capability over Earth observation competitors
SATELLOGIC IS BUILDING A SUPERIOR CAPABILITY OVER EARTH OBSERVATION COMPETITORS RESOLUTION SUB-METER FREQUENCY DAILY REMAP PRICING DYNAMIC At scale, our competitive advantage will allow us to be the first company to deliver high-quality satellite data at near-zero marginal cost.1 Source: Satellogic
Slide 23: Superior sub-meter resolution product to new space competitors
SATELLOGIC HAS A SUPERIOR SUB-METER RESOLUTION PRODUCT TO NEW SPACE COMPETITORS EVER GIVEN container ship blocking the Suez Canal, Egypt Image captured by NewSat-16 Satellogic r eceived gold medal in the NGA Imagery Olympics1 All pictures were downloaded from companies’ public twitter posts on March
Slide 24: Sub-meter product has a massive cost advantage over competitors
SATELLOGIC’S SUB-METER RESOLUTION PRODUCT HAS A MASSIVE COST ADVANTAGE OVER COMPETITORS EVER GIVEN container ship blocking the Suez Canal, Egypt Image captured by NewSat-16 NEWSAT 1-18 WORLDVIEW-4 PLEIADES-1B Satellite cost: < $1mm Satellite cost: $835mm1 Satellite cost: $425mm Weight: 38.5 kg Weigh
Slide 25: Differentiators are key to unlocking the commercial market
SATELLOGIC’S DIFFERENTIATORS ARE KEY TO UNLOCKING THE COMMERCIAL MARKET Leveraging substantial competitive advantages in costs and camera technology for a disruptive new business model 10x capture capacity via proprietary camera technology vs. Continuous Emerging competitors1 capture economies of sc
Slide 26: High-resolution global remapping addresses commercial applications at near zero marginal cost
WITH HIGH-RESOLUTION GLOBAL REMAPPING, SATELLOGIC WILL BE THE ONLY COMPANY CAPABLE OF ADDRESSING COMMERCIAL APPLICATIONS1 AT NEAR ZERO MARGINAL COST Sub-meter resolution with high-frequency represents an important threshold where significant commercial applications can be harvested Most applications
Slide 27: Differentiation unlocks a $140B+ commercial market opportunity
SATELLOGIC’S DIFFERENTIATION UNLOCKS A $140B+ COMMERCIAL MARKET OPPORTUNITY1,2 ) 2 Low(Cents/km The key to unlocking DAILY WORLD REMAPS Satellogic’s commercial WEEKLY WORLD market opportunity is: COST REMAPS DATA NEAR-TERM high resolution, OPPORTUNITIES high frequency, and CURRENT VAS MARKET at the
Slide 28: Successfully demonstrated use of data in vital commercial applications
SATELLOGIC HAS SUCCESSFULLY DEMONSTRATED THE USE OF ITS DATA IN VITAL COMMERCIAL APPLICATIONS ENERGY AGRICULTURE FORESTRY INFRASTRUCTURE Precision Farming / Infrastructure planning for APPLICATION Oil Pipeline Monitoring Oil Field Monitoring Forestry—tree count Food supply chain renewable energy pro
Slide 29: Tapping into commercial vertical solutions
SATELLOGIC IS TAPPING INTO COMMERCIAL VERTICAL SOLUTIONS Commercial Opportunity by vertical (billions) $180 Road Monitoring & Taxation Material Detection $140B+ $160 $140 Precision $120 Farming & Supply Chain $100 Oil Pipeline & Forestry Field Monitoring Monitoring $80 $60 Renewable $40 Energy $20 $
Slide 30: Guest Speakers
30 GUEST SPEAKERS MAJ. GEN. (Retired) CLINT CROSIER Director, Aerospace and Satellite Solutions at Amazon Web Services JIM HOLLIS Co-Founder and COO, Geothermal Technologies; CEO, Wireless Seismic MAJ. GEN. (Retired) ROBERT E. WHEELER Former Deputy Department of Defense CIO for C4 & Information Capa
Slide 31: Guest Speaker Clint Crosier
CONFIDENTIAL 31 GUEST SPEAKER MAJ. GEN. (Retired) CLINT CROSIER Director, Aerospace and Satellite Solutions at Amazon Web Services
Slide 32: Guest Speaker Jim Hollis
GUEST SPEAKER JIM HOLLIS Co-Founder and COO, Geothermal Technologies; CEO, Wireless Seismic 32
Slide 33: The expanding role of Earth observation information
THE EXPANDING ROLE OF EARTH OBSERVATION INFORMATION ENERGY INDUSTRY MINING INDUSTRY SUSTAINABILITY MANDATE Environment Economic Social SUSTAINABILITY SOCIAL ENVIRONMENTAL ECONOMIC CONFIDENTIAL 33
Slide 34: Use Cases: Energy Industry (Legacy)
USE CASES: ENERGY INDUSTRY (LEGACY) Exploration Environmental Baselining and Monitoring Competitive Analysis Supply Chain Optimization CONFIDENTIAL 34
Slide 35: Use Cases: Energy Industry (Legacy)
USE CASES: ENERGY INDUSTRY (LEGACY) Exploration Environmental Baselining and Monitoring Competitive Analysis Supply Chain Optimization CONFIDENTIAL 35
Slide 36: Use Cases: Energy Industry (Legacy)
USE CASES: ENERGY INDUSTRY (LEGACY) Exploration Environmental Baselining and Monitoring Competitive Analysis Supply Chain Optimization CONFIDENTIAL 36
Slide 37: Use Cases: Energy Industry (Legacy)
USE CASES: ENERGY INDUSTRY (LEGACY) Exploration Journey Management Competitor Activity Environmental Baselining and Monitoring Competitive Analysis Water Management Contractors Supply Chain Optimization Production Proppant Management CONFIDENTIAL 37
Slide 38: Use Cases: Energy Industry (Emerging)
USE CASES: ENERGY INDUSTRY (EMERGING) Exploration & Location Optimization Environmental Baselining and Monitoring Competitive Analysis CONFIDENTIAL 38
Slide 39: Use Cases: Mining
USE CASES: MINING Mineral Exploration Environmental Baselining and Monitoring Competitive Analysis Supply Chain Optimization CONFIDENTIAL 39
Slide 40: Use Cases: Sustainability
USE CASES: SUSTAINABILITY Emission Baselining and Monitoring (future) Carbon Credit Monitoring Biodiversity Analysis CONFIDENTIAL 40
Slide 41: Why Now and Why Satellogic
WHY NOW AND WHY SATELLOGIC Cost-effective, high resolution, high revisit, spectr earth observation data needed by industry Cloud-computing handling big data and enabling and Computer Vision) Data Science is now omnipresent and being leveraged by companies of all sizes creating intelligence that is c
Slide 42: Guest Speaker Robert E. Wheeler
GUEST SPEAKER MAJ. GEN. (Retired) ROBERT E. WHEELER Former Deputy Department of Defense CIO for C4 & Information Capabilities 42
Slide 43: Full-Motion Video in Action
FULL-MOTION VIDEO IN ACTION CONFIDENTIAL 43
Slide 44: Recent Announcements
RECENT ANNOUNCEMENTS MATT TIRMAN EMILIANO President, Satellogic KARGIEMAN North America CEO 44
Slide 45: Recent Highlights Since July 2021
RECENT HIGHLIGHTS SINCE JULY 2021 SATELLOGIC NORTH AMERICA HIGH THROUGHPUT FACILITY SALES AND BOOKINGS $56mm1 5 NEW BOARD MEMBERS2 SAAS PLATFORM (BETA) COLLABORATION 1 Backlog: signed contracts pending product and service delivery 2 New Board members to be elected CONFIDENTIAL 45
Slide 46: Satellogic North America is driving USG and CAN sales
SATELLOGIC NORTH AMERICA (SATNA) IS DRIVING USG AND CAN SALES Established to pursue contracts with the US government (USG), the largest buyer of geospatial and EO data in the world, and Canadian government (CAN) Continually growing opportunity pipeline of $50mm+1 Approved subcontractor rates on GSA
Slide 47: Mission Proven: SATNA's data tested and trusted by the DoD
MISSION PROVEN SATNA’S DATA IS TESTED AND TRUSTED BY THE DoD Satellogic’s constellation located and tracked Chinese carrier Liaoning (CV-16) in the East China Sea throughout the Global Information Dominance Exercise 3 (GIDE3). Within 3 months, SATNA completed approximately 240 captures across North
Slide 48: Mission Critical: Gold, silver and bronze medals in NGA Imagery Olympics
CONFIDENTIAL 48 MISSION CRITICAL SATELLOGIC RECEIVED GOLD, SILVER, AND BRONZE MEDALS IN THE NGA IMAGERY OLYMPICS “The global nature of remote sensing has really taken off.” David Gauthier, NGA GEOINT 2021 Best Multispectral Imaging (MSI) (4+ bands) Best Electro-Optical (EO) Persistence (Avg Revisits
Slide 49: Two new multi-year dedicated satellite constellation customers expected
TWO NEW MULTI-YEAR DEDICATED SATELLITE CONSTELLATION CUSTOMERS EXPECTED DEDICATED SATELLITE CONSTELLATION (DSC) Satellite-as-a-Service Model Provides governments a unique opportunity to launch a national geospatial imaging program with: Unprecedented resolution, frequency and cost No capital outlay
Slide 50: Offering and price point expanding the existing government market
SATELLOGIC OFFERING AND PRICE POINT ARE EXPANDING THE EXISTING GOVERNMENT MARKET CIVIL GOVERNMENT BUDGET FOR EO PROGRAMS, 20181 2024 estimated civil government and defense services addressable market for DSC products: ~$1B1 1 Source: Euroconsult CONFIDENTIAL 50
Slide 51: Backlog increased to $56MM with $2.2BN pipeline
SATELLOGIC HAS INCREASED ITS BACKLOG TO $56MM WITH $2.2BN OF OPPORTUNITIES IN CURRENT PIPELINE DISCOVER1 Backlog4 QUALIFY2 VALIDATE3 $56mm $22mm increase from July Investor Presentation 357 205 77 75 Near-term Pipeline5 OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES OPPORTUNITIES $2.2bn $0.8bn Longer-ter
Slide 52: Collaboration Update
COLLABORATION UPDATE Leveraging the AWS Ground Station to quickly Enhancing the power and efficiency of Satellogic’s and cost efficiently scale satellite data acquisition EO capabilities by moving more AI analytics on processes board satellites Delivering data directly to AWS for processing Edge AI
Slide 53: Guest Speaker Shyam Sankar
GUEST SPEAKER SHYAM SANKAR COO, Palantir 53
Slide 54: Hired EVP of Sales
HIRED EVP OF SALES Brian Lantier embodies 23 years of leadership and IT services experience from Tier 1 companies such as Perot Systems, EDS, ACS, HP, CSC, and Unisys. He began his p rofessional life serving five years as a decorated naval officer coordinating global supply chain logistics in the Me
Slide 55: Additional manufacturing facility
ADDITIONAL MANUFACTURING FACILITY, CAPACITY OF 100 SATELLITES PER YEAR Satellogic selected a site in the Netherlands, in the heart of the space cluster between Rotterdam and Delft The construction of the building at the planned location is expected to be completed by the end of 2021, where the clean
Slide 56: Two manufacturing plants at full operations
AT FULL OPERATIONS, TWO MANUFACTURING PLANTS WITH 124 SATELLITES/YEAR COMBINED CAPACITY 100 satellites per year 24 satellites per year Satellogic High Throughput Plant, Netherlands Satellogic Assembly, Integration & Testing Facility, Uruguay CONFIDENTIAL 56
Slide 57: Project and Technology Roadmap
PROJECT AND TECHNOLOGY ROADMAP Our plan is to continue to increase frequency and resolution towards a live view of planet Earth 2020 2021 2022 2023 2024 2025+ SATELLITES IN ORBIT 13 17 37 111 208 300 SATELLITE CHARACTERISTICS 0.99m 0.77m—0.64m 0.40m 0.30m (GSD RESOLUTION) at 470 km at 600 km—at 500
Slide 58: New Board Members
5 NEW BOARD MEMBERS1, BOLSTERING OUR VISION AND GROWTH Jenette E. Ramos Marcos Galperín Bradley Halverson Dr. Dava Newman Tarun Bhatnagar Former SVP of Manufacturing, Supply Chain Co-Founder, Chairman, and CEO Former Group President and Chief Financial Apollo Program Professor of Astronautics at VP
Slide 59: Aleph Platform
ALEPH PLATFORM CONFIDENTIAL 59
Slide 60: How We Win
HOW WE WIN Satellogic is leveraging its substantial advantage in unit-economics to achieve incremental returns on the supply and demand side TWO SIDED BARRIERS TO ENTRY FOR FUTURE COMPETITORS Economies of scale on the supply side Network effects NEAR-ZERO MARGINAL COST DEMAND CONSOLIDATION TECHNOLOG
Slide 61: Financial Overview
FINANCIAL OVERVIEW RICK DUNN CFO 61
Slide 62: Revenue and satellite growth outlook
Daily World Remaps $800 $787 300 $700 250 $600 Weekly World More mapping capacity, Remaps 200 superior pricing power, mm) $500 (USD, $400 150 and a growing satellite $365 Satellites of constellation expected # Revenue $300 to result in rapid revenue 100 $200 growth over the near-term. $132 50 $100 $
Slide 63: Go-to-Market Strategy
GO-TO-MARKET STRATEGY While we grow our constellation of satellites to deliver services to the commercial sector, we will continue to deliver for our Government and D&I customers to help finance our growing constellation 17 SATELLITES 60+ SATELLITES 300+ SATELLITES in operation Weekly world remaps D
Slide 64: Offering Portfolio
OFFERING PORTFOLIO IMAGERY AI LAYERS DEDICATED SATELLITE HOSTED PAYLOAD CONSTELLATIONS Testing new sensors and Bringing space down to Earth Planetary scale insights Satellite-as-a-Service hardware in orbit CONFIDENTIAL 64
Slide 65: Offering Portfolio: two business segments
OFFERING PORTFOLIO Two unique and complementary business segments aimed at positioning the company in the larger information industry and at differentiating ourselves from traditional EO based products GOVERNMENT, COMMERCIAL 1 D&I 2 CUSTOMERS Planetary-scale dataset of affordable high-frequency, Ded
Slide 66: Financial Projections
FINANCIAL PROJECTIONS ($mm) REVENUE ADJ. EBITDA1 FREE CASH FLOW2 COMMERCIAL PLATFORM DEFENSE & INTELLIGENCE $787 463 $473 $365 139 $258 $197 $132 324 $47 23 226 $49 $0 $7 6 109 $24 7 0 ($17) ($32) ($2) ($12) ($66) ($92) ($114) 0 0 41 2020A 2021E 2022E 2023E 2024E 2025E 2020A 2021E 2022E 2023E 2024E
Slide 67: Capex becomes a decreasing percentage of revenues
AT SCALE, SATELLOGIC’S CAPEX BECOMES A DECREASING PERCENTAGE OF REVENUES AND PROFITS ($mm) # SATELLITES IN ORBIT 13 17 37 111 208 300 300 27.7% 13.8% OTHER CAPEX $218 SATELLITE REPLACEMENT CAPEX 20 SATELLITE GROWTH CAPEX $186 $169 23 CAPEX AS A PERCENTAGE OF REVENUE 33 13 $136 19 9 23 176 $63 152 13
Slide 68: Powerful financial model
POWERFUL FINANCIAL MODEL EXPECTED TO DELIVER STRONG REVENUE GROWTH WITH ATTRACTIVE STEADY-STATE MARGINS NET REVENUE GROWTH 200%+ Supported by opening up the commercial market (YEAR OVER YEAR) 2021E-2025E CAGR (weekly remaps in 2022/2023, daily in 2025) 1 60% Significant operating leverage accompanyi
Slide 69: Selected Peer Valuation Benchmarking
SELECTED PEER VALUATION BENCHMARKING 22.9x 9.9x 5.0x / EV 3.5x REVENUE 2.7x 2.3x 1.6x SPACE DATA & CATEGORY ECONOMY ANALYTICS / SaaS CREATORS EV / 2024E EV / 2022E Source: Company filings, investor presentations and FactSet as of 11/12/2021. Figures represent medians. CONFIDENTIAL 69
Slide 70: Transaction is priced at a meaningful discount to peer multiples
TRANSACTION IS PRICED AT A MEANINGFUL DISCOUNT TO PEER MULTIPLES TRANSACTION VALUE RELATIVE VALUATION SUMMARY OF APPROACH ($ in billions) $5.7 Applied a range of forward multiples to Satellogic’s 2024E and 2025E management forecasted revenue and then discounted back 3 and 4 years, respectively, assu
Slide 71: Transaction expected to fund business plan
TRANSACTION EXPECTED TO FUND BUSINESS PLAN, WITH ADDITIONAL OPPORTUNITIES FOR ACCELERATION AND INCREMENTAL VALUE CREATION THROUGH M&A1 CF Acquisition Corp. V (“CFAC V”) business combination with Nettar Group, Inc. d/b/a Satellogic (“Satellogic”) at a pro forma enterprise value of $850mm TRANSACTION
Slide 72: Satellogic: Now You See
SATELLOGIC NOW YOU SEE 72
Slide 73: Q&A
Q&A 73
Slide 74: Closing Remarks
CLOSING REMARKS EMILIANO KARGIEMAN CEO 74
Slide 75: Appendix
APPENDIX 75
Slide 76: Investment Highlights
INVESTMENT HIGHLIGHTS 1 Vastly superior unit economics for high resolution imagery with remapping capability 2 Massive $140bn+ TAM1 opportunity unlocked by near zero marginal cost structure and SaaS platform 3 Differentiated and proven technology with 17 satellites already in orbit 4 $2.1bn sales pi
Slide 77: Financial Summary
FINANCIAL SUMMARY ($mm) 2020A 2021E 2022E 2023E 2024E 2025E Satellites Launched 13 4 20 87 100 113 Satellites Decommissioned 0 0 0 (13) (3) (21) Satellites in Orbit 13 17 37 111 208 300 Defense & Intelligence revenues 0 7 41 109 226 324 Commercial platform revenues 0 0 6 23 139 463 Total revenues $0
Slide 78: Non-GAAP Adjusted EBITDA Reconciliation
NON-GAAP ADJUSTED EBITDA RECONCILIATION ($000) 2019 2020 Net result for the year (loss) (20,765) (113,926) Plus: Income tax (benefit) expense 83 148 Plus: Finance costs 4,501 7,566 Less: Finance income (398) (79) Less: Other financial income (expense) 112 (597) Plus: Depreciation of satellites and o
Slide 79: Selected Peer Operational and Valuation Benchmarking
SELECTED PEER OPERATIONAL AND VALUATION BENCHMARKING SPACE ECONOMY DATA & ANALYTICS / SaaS CATEGORY CREATORS Average: 292% Average: 30% Average: 28% Median: 294% Median: 28% Median: 29% 498% 304% 373% 294% REVENUE 269% 272% 202% 113% 105% 102% GROWTH 51% 18% 37% 27% 31% 29% 62% 21% 17% 24% 35% 15% 2
Slide 80: Final Transaction Structure
FINAL TRANSACTION STRUCTURE SPAC Target Shareholders Shareholders Satellogic Inc. (BVI) CF Acquisition Nettar Group Inc. Corp. V (dba Satellogic) (Delaware) (BVI) CONFIDENTIAL 80
Slide 81: Management Team
MANAGEMENT TEAM EMILIANO GERARDO RICK AVIV REBECA MATT BRIAN THOMAS KARGIEMAN RICHARTE DUNN COHEN BRANDYS TIRMAN LANTIER VANMATRE CEO & Founder CTO / CISO & Founder CFO COO & Chief of Staff General Counsel President, Satellogic EVP of Sales VP of Global Business North America Development Co-founded
Slide 82: A History of Success and Technological Evolution
A HISTORY OF SUCCESS AND TECHNOLOGICAL EVOLUTION OUR FLEET 3 prototypes launched and tested successfully 22 full satellites launched / 17 commercial satellites in orbit 100% successful satellite deployments CubeBug-1 CubeBug-2 BugSat-1 NewSat 1&2 NewSat 3 NewSat 4&5 NewSat 6 NewSat 7&8 NewSat 9-18 N
Slide 83: Global Footprint
GLOBAL FOOTPRINT HIGH THROUGHPUT BUSINESS PLANT SALES DEVELOPMENT + SOLUTIONS Rotterdam FINANCE Beijing Barcelona PRODUCT DELIVERY BUSINESS DEVELOPMENT + PLATFORM Charlotte SALES TelAviv Miami DEVELOPMENT TEAM MANUFACTURING Córboba AND ASSEMBLY SATELLITE R&D + MISSION OPERATIONS Montevideo Buenos Ai