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DAVIDSON, N.C. - Satellogic Inc. (NASDAQ: SATL), a key player in high-resolution Earth observation data with a market capitalization of $406 million, has secured a multi-million dollar contract with an undisclosed Asia Pacific client, the company announced on Monday. The company’s stock has shown remarkable momentum, surging over 320% in the past six months according to InvestingPro data. The deal revolves around the use of Satellogic’s NewSat satellite constellation and its Aleph platform, which offers customers direct control over satellite imaging tasks.
This new agreement is significant as it allows the Asia Pacific customer to swiftly task the NewSat satellites, ensuring timely delivery of critical imagery for various applications. The Aleph platform provides a self-service interface that grants users the ability to schedule and manage their own imagery collections. This capability is said to enable users to experience the advantages of satellite constellation ownership without the associated costs. The company’s business model has yielded impressive gross profit margins of nearly 61%, though InvestingPro analysis indicates the company is currently trading above its Fair Value.
Mark Carmichael, VP of Imagery and Data at Satellogic, stated, "Our self-service platform for high-resolution, on-demand imagery empowers users to drive a more proactive, responsive, and resilient posture."
Satellogic, founded in 2010, has been at the forefront of democratizing access to geospatial data. The company aims to remap the planet with high-frequency and high-resolution, offering accessible and affordable solutions to address global challenges such as climate change, energy supply, and food security. Their patented technology is designed to deliver high-quality, planetary insights at a competitive cost.
The recent agreement highlights the company’s commitment to providing advanced satellite solutions and meeting the increasing global demand for timely geospatial data. As part of their ongoing efforts, Satellogic continues to enhance its automated Earth observation (EO) platform and expand its satellite fleet.
While the company’s press release contains forward-looking statements regarding future developments and their potential effects on Satellogic, they are subject to risks and uncertainties. These projections should not be relied upon as guarantees and may differ from actual future events. Despite showing strong revenue growth of 27.75% over the last twelve months, InvestingPro data reveals additional insights about the company’s financial health, with 8 more exclusive ProTips available to subscribers.
This report is based on a press release statement from Satellogic Inc.
In other recent news, Satellogic Inc. has entered into a significant sales agreement to potentially sell up to $50 million in Class A common stock. This agreement, made with Cantor Fitzgerald & Co. and Northland Securities, Inc., allows the company to offer shares on an "at the market" basis, giving it flexibility to raise capital aligned with its strategic goals. Additionally, Satellogic secured a $30 million multi-year defense contract to provide AI-powered satellite analytics to a key defense and security customer, highlighting its innovative capabilities in Earth observation technology. The company recently completed its corporate domestication, moving its incorporation from the British Virgin Islands to Delaware, a strategic decision to enhance its U.S. market presence. CEO Emiliano Kargieman expressed that this move aligns with the company’s objectives to better serve investors and customers, particularly in securing U.S. government contracts. Despite this jurisdictional shift, there will be no changes to Satellogic’s business operations or stock trading status. These developments are part of Satellogic’s broader strategy to advance its position in the global geospatial analytics sector.
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