The company's capital structure is under significant strain, with total liabilities ballooning to $213.6 million in 2026Q1 compared to just $24.7 million in 2023Q4.
| Total Current Assets | 144.53M | 115.17M | 27.86M | 26.55M | 81.24M | 12.42M | 18.04M | 25.15M |
| Cash & Short-Term Investments | 128.95M | 94.43M | 22.49M | 23.48M | 76.53M | 8.53M | 17.27M | 24.56M |
| Cash Only | 128.95M | 94.43M | 22.49M | 23.48M | 76.53M | 8.53M | 17.27M | 24.56M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 9.96M | 8.55M | 1.46M | 901K | 1.39M | 1.2M | 4K | 584.76K |
| Days Sales Outstanding | 98.88 | 176.2 | 41.52 | 32.64 | 84.27 | 102.79 | - | - |
| Inventory | 2.36M | 2.09M | 0 | 0 | 0 | 0 | 21.36K | 7.53K |
| Days Inventory Outstanding | 79.76 | 60.47 | - | - | - | - | - | - |
| Other Current Assets | 3.26M | 10.11M | 877K | 239K | 1.56M | 713K | 81.64K | 0 |
| Total Non-Current Assets | 43.54M | 36.13M | 33.83M | 49.83M | 62.62M | 37.49M | 36.58M | 22.79M |
| Property, Plant & Equipment | 35.73M | 31.7M | 28.11M | 44.33M | 56.15M | 35.48M | 36.21M | 22.48M |
| Fixed Asset Turnover | 0.63x | 0.56x | 0.46x | 0.23x | 0.11x | 0.12x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 11.81M | 4.05M | 4.89M | 4.93M | 1.14M | 369K | 314K | 70.03K |
| Other Non-Current Assets | 7.8M | 376K | 833K | 580K | 5.33M | 0 | 0 | 228.69K |
| Total Assets | 188.06M | 151.3M | 61.69M | 76.38M | 143.85M | 49.92M | 54.62M | 47.94M |
| Asset Turnover | 0.17x | 0.12x | 0.21x | 0.13x | 0.04x | 0.09x | - | - |
| Asset Growth % | 362.83% | 145.26% | -19.23% | -46.9% | 188.18% | -8.61% | 13.93% | - |
| Total Current Liabilities | 59.11M | 22.5M | 34.62M | 21.39M | 30.07M | 283.71M | 131.34M | 23.85M |
| Accounts Payable | 3.75M | 2.43M | 3.75M | 7.93M | 9.85M | 6.65M | 2.86M | 1.55M |
| Days Payables Outstanding | 205.66 | 70.36 | 272.73 | 572.84 | 1.09K | 1.29K | - | - |
| Short-Term Debt | 1.34M | 1.17M | 0 | 2.14M | 0 | 108.47M | 125.08M | 20.65M |
| Deferred Revenue (Current) | 16.98M | 0 | 5.87M | 3.73M | 1.94M | 935K | 455K | 0 |
| Other Current Liabilities | 37.05M | 18.9M | 13.01M | 7.59M | 9.69M | 143.24M | 426K | 613.08K |
| Current Ratio | 2.44x | 5.12x | 0.80x | 1.24x | 2.70x | 0.04x | 0.14x | 1.05x |
| Quick Ratio | 2.41x | 5.02x | 0.80x | 1.24x | 2.70x | 0.04x | 0.14x | 1.05x |
| Cash Conversion Cycle | -27.02 | 166.31 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 154.48M | 68.27M | 80.1M | 3.31M | 7.58M | 5.63M | 40.56M | 29.53M |
| Long-Term Debt | 142.57M | 56.11M | 79.07M | 0 | 0 | 0 | 33.8M | 28.5M |
| Capital Lease Obligations | 22.88M | 6.1M | 516K | 1.79M | 6.06M | 2.08M | 1.04M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2.11M | 2.06M | 516K | 526K | 522K | 2.55M | 4.73M | 39.8K |
| Total Liabilities | 213.59M | 90.78M | 114.72M | 24.71M | 37.66M | 289.35M | 171.91M | 53.39M |
| Total Debt | 149.71M | 63.38M | 79.95M | 3.93M | 8.24M | 111.54M | 160.28M | 49.14M |
| Net Debt | 20.76M | -31.05M | 57.46M | -19.54M | -68.29M | 103.01M | 143.01M | 24.59M |
| Debt / Equity | -5.86x | 1.05x | - | 0.08x | 0.08x | - | - | - |
| Debt / EBITDA | -6.99x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.97x | - | - | - | - | - | - | - |
| Interest Coverage | -5656.19x | -2386.08x | -1596.38x | -1017.35x | -19.09x | -10.06x | -2.98x | -4.63x |
| Total Equity | -25.53M | 60.53M | -53.03M | 51.67M | 106.2M | -239.43M | -117.29M | -5.45M |
| Equity Growth % | -181.15% | 214.13% | -202.63% | -51.34% | 144.35% | -104.14% | -2052.79% | - |
| Book Value per Share | -0.18 | 0.45 | -0.58 | 0.58 | 1.27 | -3.48 | -2.33 | -0.08 |
| Total Shareholders' Equity | -25.53M | 60.53M | -53.03M | 51.67M | 106.2M | -239.43M | -117.29M | -5.45M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 48 |
| Retained Earnings | -523.19M | -404.89M | -400.11M | -283.83M | -222.81M | -186.17M | -181M | -67.08M |
| Treasury Stock | -8.6M | -8.6M | -8.6M | -8.6M | -8.6M | -170.95M | 0 | 0 |
| Accumulated OCI | -2K | 531K | -571K | -33K | -312K | -86K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High leverage and dilution
As reported in financial statements, Satellogic's balance sheet trajectory reflects significant volatility, with total liabilities surging to $213.6 million in 2026Q1 from $24.7 million in 2023Q4, signaling a reliance on debt-heavy financing to sustain the company's capital-intensive satellite constellation expansion and ongoing operational requirements.
The rapid accumulation of debt relative to asset growth suggests that the company is struggling to achieve a self-sustaining capital structure. Investors should monitor whether the recent increase in total assets can generate sufficient returns to offset the mounting liability burden and negative equity position.
Based on recent SEC filings, Satellogic's debt load has escalated to $149.7 million as of 2026Q1, a substantial increase from the $3.9 million reported in 2023Q4, which indicates that the company is increasingly reliant on external credit facilities to fund its high-burn aerospace manufacturing operations.
This rapid debt expansion suggests that the company's internal cash generation remains insufficient to cover its capital-intensive launch schedule. The shift toward higher leverage warrants further investigation into the company's refinancing risk and the potential for future equity dilution to service these obligations.
According to quarterly financial data, Satellogic's current ratio has fluctuated wildly, dropping to a low of 0.58 in 2025Q1 before recovering to 2.44 in 2026Q1, highlighting the company's precarious reliance on periodic capital infusions to maintain its short-term operational runway and meet immediate obligations.
The inconsistency in liquidity metrics suggests that the company's cash position is highly sensitive to the timing of milestone payments and external financing events. This volatility may indicate a lack of predictable working capital management, leaving the firm vulnerable to sudden shocks in the aerospace supply chain.
As reported in financial statements, Satellogic's equity position has deteriorated into negative territory, reaching -$25.5 million in 2026Q1, which is primarily driven by the persistent accumulation of retained earnings losses totaling -$523.2 million over the observed period, underscoring the company's ongoing struggle to reach profitability.
The negative equity position suggests that the company has effectively exhausted its initial capital base through sustained operating losses. This trend may indicate that future growth will require significant additional capital, potentially leading to further shareholder dilution or more restrictive debt terms.
Quick answers to the most common questions about buying SATL stock.
As of 2025, Satellogic Inc. (SATL) had total assets of $151.3M including $115.2M in current assets.
Satellogic Inc. (SATL) carries total debt of $63.4M, offset by $94.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Satellogic Inc. (SATL) has total shareholders' equity (book value) of $60.5M ($0.45 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Satellogic Inc. (SATL) reported a current ratio of 5.12x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.