Slide 1: Second Quarter 2026 Financial Results Conference Call
Second Quarter 2026 Financial Results Conference Call Discovery · Persistence · Sovereignty EARNINGS PRESENTATION August 5, 2026 NASDAQ: SATL
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
AGENDA Commercial Update & Recent Wins 1 Sovereign and defense momentum, new AI partnerships, customer expansion. PRESENTING TODAY Emiliano Kargieman – Founder & CEO Second Quarter 2026 Financial Highlights 2 Revenue, profitability inflection, cost structure, cash, and backlog. Rick Dunn – Chief Finan
Slide 4: Commercial Update & Recent Wins
COMMERCIAL UPDATE & RECENT WINS Second Quarter 2026 COMMERCIAL INFLECTION POINTS — SECOND QUARTER 2026 AND SUBSEQUENT 1. Sovereign & Defense Wins Accelerating • Q2 2026: Delivered the first of two satellites to Portugal’s $18M CEiiA program • May 2026: >$18M international defense agreement; one-year
Slide 5: Financial Highlights: Three Months Ended June 30, 2026
FINANCIAL HIGHLIGHTS: THREE MONTHS ENDED JUNE 30, 2026 Total Revenue Cash & Equivalents Total Operating Exp. Operating Income GAAP Op. Cash Flow $(8.6)M vs $(4.3)M PY $15.9M $112.8M $15.7M $0.3M Adj. Op. Cash Flow¹ ↑259% year-over-year vs. $94.4M at YE 2025 ↑46% YoY +$6.6M YoY $(0.3)M +$4.0M YoY REV
Slide 6: The Market is Transitioning Quickly Based on Demand
The Market is Transitioning Quickly Based on Demand LEGACY EARTH OBSERVATION PERSISTENT GLOBAL INTELLIGENCE REQUEST REQUIREMENT "Get me an image of X." "Identify & monitor X continuously." OUTPUT OUTPUT Fragmented snapshots Uninterrupted signal streams CONSTRAINT VALUE Breaks in cadence Assured situ
Slide 7: Persistent Global Intelligence Infrastructure
Persistent Global Intelligence PROPRIETARY TECH ~$1.3M Infrastructure NewSat Unit Cost Patent-Protected Payload The foundation for persistent intelligence operations. UNMATCHED ECONOMICS Ongoing decision advantage comes from infrastructure that is scalable, secure, reliable, and able to evolve as th
Slide 8: The Infrastructure Behind Persistent Intelligence
The Infrastructure Behind Persistent Intelligence OPERATIONAL MONITORING GLOBAL AWARENESS PRECISION COLLECTION NewSat Mark V & VI | 50 cm GSD Merlin | 1 m class NextGen | 30 cm class Operational First Launch Window: October 2026 In Development Persistent Monitoring at Scale. See Everything, Every Da
Slide 9: Merlin: On Schedule for October 2026 Launch Window
Merlin: On Schedule for October 2026 Launch Window FLIGHT HARDWARE Merlin-01 fully integrated in our facility on our flight-proven NewSat line. QUALIFICATION COMPLETE Passed thermal-vacuum, vibration, and functional testing; ready to ship to launcher. LAUNCH ON TRACK Initiates deployment of our daily
Slide 10: Closing Remarks & Key Takeaways
CLOSING REMARKS & KEY TAKEAWAYS Financial Inflection Achieved: Record Q2 revenue and positive Adjusted EBITDA prove the 1 operating leverage of our business model. The PGI Market Shift: The industry is moving from transactional imagery to always-on 2 monitoring. Satellogic builds, owns, and operates
Slide 11: Question & Answer
QUESTION & ANSWER Thank you for joining the Second Quarter 2026 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 Measures: Adjusted EBITDA to US GAAP
RECONCILIATION OF NON-GAAP MEASURES: ADJUSTED EBITDA TO US GAAP (in thousands of U.S. dollars) Q2 2026 Q2 2025 Net loss available to stockholders $(20,049) $(6,652) Interest income, net (1,003) (285) Income tax (benefit) expense 1,939 (40) Depreciation 1,145 1,848 Non-GAAP EBITDA $(17,968) $(5,129) C
Slide 13: Reconciliation of Non-GAAP Measures: Adj. Op. Cash Flow to US GAAP
RECONCILIATION OF NON-GAAP MEASURES: ADJ. OP. CASH FLOW TO US GAAP Three Months Ended June 30 Six Months Ended June 30 (in thousands of U.S. dollars) 2026 2025 2026 2025 Net cash used in operating $(8,630) $(4,342) $(8,472) $(9,064) activities Proceeds from sale of in-orbit 8,335 — 8,335 — satellite