Satellogic Posts Q1 Revenue Jump, Narrows Losses, Signals Defense Push

Overview

• Satellogic reported Monday that first‑quarter revenue rose 80% year over year to $6.1 million as operating and adjusted EBITDA losses improved by about one‑third.
• The company ended March 31 with $121.9 million in cash after completing a $35 million registered direct offering in January 2026.
• A $12 million agreement announced April 30 will deliver an in‑orbit NewSat satellite to a sovereign defense customer.
• Contracted backlog, reported as remaining performance obligations, reached $64.8 million with $29.2 million expected within a year, which gives clearer near‑term revenue visibility.
• The company introduced its Merlin AI‑first defense constellation, launched Aleph Observer, and said U.S. defense and intelligence partnerships are expanding ahead of a Tuesday investor call at 8:00 a.m. ET.