Slide 1: Fourth Quarter and Full Year 2025 Financial Results Conference Call
Fourth Quarter and Full Year 2025 Financial Results Conference Call March 19, 2026
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER Forward-Looking Statements Legend This Presentation contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”,
Slide 3: Agenda
PRESENTING TODAY AGENDA 01 Introduction & Company Overview Emiliano Kargieman · Founder & Chief Executive Officer 02 Financial Results — Full Year 2025 Rick Dunn · Chief Financial Officer Emiliano Kargieman Founder & Chief Executive Officer Commercial Update & Recent Wins 03 Emiliano Kargieman · Fou
Slide 4: Introduction and Company Overview
Introduction and Company Overview Recent Wins Expected to Drive Revenue Growth 1 Unique Sovereign & Defense Solutions: DEC 31, 2025 Space Systems allows governments to own and operate sovereign EO assets with limited export Portugal / CEiiA signs $18M contract for 2 NewSat Mark V controls. In-countr
Slide 5: Financial Highlights: Year Ended December 31, 2025
FINANCIAL HIGHLIGHTS: YEAR ENDED DECEMBER 31, 2025 Total Revenue Cash & Equivalents Total Operating Exp. Net Cash Used in Operating Activities Operating Loss $17.7M $94.4M $48.7M $(26.9M) $(31.0M) ↑ 38% year-over-year vs. $22.5M prior year ↓25% year-over-year ↓25% year-over-year ↑41% improvement YoY
Slide 6: Commercial Update & Recent Wins
COMMERCIAL UPDATE & RECENT WINS FY2025 Business Line Performance and Key Catalysts: Persistent Monitoring and Analytics Launched Aleph Observer: Introduced flagship persistent global intelligence product, shifting from episodic tasking to continuous, daily monitoring of hundreds of sites for Defense
Slide 7: From Imagery to Persistent Global Intelligence
FROM IMAGERY TO PERSISTENT GLOBAL INTELLIGENCE Persistent Global Intelligence (PGI) is a new category of Earth observation focused on delivering continuous situational awareness. It shifts the industry from reactive tasking to always-on monitoring, providing an uninterrupted stream of intelligence a
Slide 8: Aleph Observer
THE SOLUTION ALEPH OBSERVER Aleph Observer provides persistent monitoring across hundreds of priority sites with assured capacity, reliable cadence, and built-in analytics. Scale Persistent monitoring across hundreds of sites simultaneously Assurance Capacity at scale & reliable cadence in priority
Slide 9: Introducing Merlin
INTRODUCING MERLIN The first Earth observation system designed to deliver daily 1- meter global coverage and real-time intelligence at planetary scale. Planetary Scale Daily 1-Meter Baseline Real-time Intelligence Millions of sites globally A continuously updated map of the Earth AI-alerts and autom
Slide 10: Closing Remarks
CLOSING REMARKS Revenue Momentum 38% revenue growth to $17.7M for 2025 with Q4 growing 94% year-over-year; $65.1M non-cancellable backlog Expense Discipline Total operating expenses ↓25% YoY; Adj. EBITDA improved 48% Strong Balance Sheet $94.4M in cash as of December 31, 2025 with another $35M raise
Slide 11: Question & Answer
QUESTION & ANSWER Thank You for Joining the SATL | Nasdaq Listed Q4 & Full Year 2025 Earnings Call INVESTOR RELATIONS MEDIA RELATIONS Satellogic Inc. Satellogic Inc. ir@satellogic.com pr@satellogic.com www.satellogic.com 11
Slide 12: Reconciliation of Non-GAAP Financial Measures: Adjusted EBITDA to US GAAP
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES: ADJUSTED EBITDA TO US GAAP Year Ended December 31, (in thousands of U.S. dollars) 2025 2024 Net loss available to stockholders $ (4,783) $ (116,272) Interest expense 13 71 Income tax expense 673 2,858 Depreciation expense 7,740 12,655 Non-GAAP EBITDA (l