8-KCurrent report
Results of operations
✓ VerifiedSatellogic reported Q2 2026 revenue up 259% year-over-year to $15.9 million, its first quarter of positive operating income ($0.3 million) and positive Adjusted EBITDA ($2.8 million).
Filed Aug 5, 2026 · 16:32 ET
Summary
- Total revenue for the three months ended June 30, 2026 increased $11.5 million, or 259%, to $15.9 million from $4.4 million in the prior-year period, with Data & Analytics revenue of $7.1 million and Space Systems revenue of $8.8 million.
- Operating income was positive $0.3 million, an improvement of $6.6 million from an operating loss of $6.3 million in the prior-year period, and the first quarter of positive operating income in the Company's history.
- Net loss for the quarter was $20.0 million, including a $19.7 million non-cash charge for the change in fair value of financial instruments tied to remeasurement of Secured Convertible Notes, warrants, and earnout liabilities.
- Non-GAAP Adjusted EBITDA was positive $2.8 million, a $6.7 million improvement from a $3.9 million loss a year ago and the first positive Adjusted EBITDA quarter in Company history.
- The noteholder converted $12.0 million of principal into 10.0 million shares of Class A common stock, reducing outstanding Secured Convertible Note principal to $18.0 million from $30.0 million at year-end 2025.
- The Company ended the quarter with $112.8 million in cash and cash equivalents and remaining performance obligations of $80.7 million, and delivered the first satellite to Portugal's CEiiA program under an $18 million two-satellite contract.
Key facts
- Q2 2026 revenue
- $15.9 million (up 259%)
From the filing for Q2 2026 revenue
“Revenue Increased 259% Year-over-Year to $15.9 Million”
- Operating income
- positive $0.3 million
From the filing for Operating income
“operating income was positive $0.3 million, an improvement of $6.6 million from an operating loss of $6.3 million in the prior-year period”
- Net loss
- $20.0 million
From the filing for Net loss
“Net loss for the quarter was $20.0 million and included a $19.7 million non-cash charge relating to the change in fair value of financial instruments”
- Adjusted EBITDA
- positive $2.8 million
From the filing for Adjusted EBITDA
“adjusted EBITDA was positive $2.8 million, a $6.7 million improvement from a $3.9 million loss a year ago”
- Cash and cash equivalents
- $112.8 million
From the filing for Cash and cash equivalents
“We ended the quarter with $112.8 million in cash and cash equivalents and remaining performance obligations of $80.7 million”
- Note conversion
- $12.0 million into 10.0 million shares
From the filing for Note conversion
“the noteholder converted $12.0 million of principal into 10.0 million shares of Class A common stock, reducing outstanding Secured Convertible Note principal to $18.0 million from $30.0 million at year-end 2025”
- Defense agreement
- more than $18 million
From the filing for Defense agreement
“an additional one-year agreement valued at more than $18 million with an international defense customer”
- Merlin first launch
- fourth quarter of 2026
From the filing for Merlin first launch
“remains on track for a first launch in the fourth quarter of 2026 and full operational capability in the first half of 2027”
Why it mattersSatellogic recorded its first quarter of positive operating income and positive Adjusted EBITDA while reducing convertible note principal to $18.0 million. The Merlin constellation build-out remains on track with a first launch targeted for Q4 2026.
- Filed
- Aug 5, 2026
- Accepted
- 2026-08-05 20:32Z
- Period
- Aug 5, 2026
- Accession no.
- 0001437749-26-025939
- Size
- 572 KB
- Index
- Filing index