SATL
Satellogic Inc.Technology·Hardware, Equipment & Parts
$9.51
$1.1B market cap
Revenue
$12.3M
Free Cash Flow
$-18.2M
Rev Growth
+0.0%
FCF Margin
-147.3%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Satellogic Inc. builds and operates nano satellites for commercial-grade Earth observation in real-time. It offers data streams that are used in decision-making processes for various branches of government, organizations, businesses, and individuals. Its satellites are used for applications in agriculture, pipeline monitoring, critical infrastructure monitoring, disaster response, illegal logging, border patrol, port security, and other applications. The company was founded in 2010 and is based
2-Year Price History
$10.61+864.5%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 6.1 | -116.9 | -6.4 | -118.3 | 0.2 | -5.4 | -5.6 | 129.0 | 149.7 | 140.9 | -17.0% | -38955.7x | -- |
| Act | 2025-Q4 | 6.3 | 32.1 | -7.1 | 30.5 | -9.5 | -12.8 | -3.4 | 94.4 | 63.4 | 134.1 | -33.8% | 32066.0x | -- |
Valuation & Metrics
Market Stats
Price$9.51
Market Cap$1.1B
Enterprise Value$1.2B
P/S Ratio92.5x
P/FCF--
EV/FCF--
FCF Margin (TTM)-147.3%
FCF Yield-1.6%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$12.3M
Net Income$-87.8M
Free Cash Flow$-18.2M
Revenue Growth (YoY)+0.0%
EBITDA Margin-686.4%
Net Margin-710.9%
FCF Margin-147.3%
CapEx % of Revenue72.0%
SBC % of Revenue17.6%
ROIC-25.4%
WC Change % Rev-3.0%
Interest Coverage-21200.3x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares10.6M
Days to Cover1.4
Change (vs Prior)-14.7%
Need at least 2 settlement dates for chart
Employees
Headcount137
Revenue / Employee$90,175
Gross Profit / Employee$70,248
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
27.9%(+27.9% YoY)
129 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
7.5%(+7.5% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
1.1%(+1.1% YoY)
4 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Liberty 77 Capital L.P. | $109M | $3.62 | +$0 | +$109M | +4.7% | $1.46B |
| CANTOR FITZGERALD, L. P. | $58.8M | $3.57 | −$14.0M | +$58.8M | -3.1% | $2.75B |
| BlackRock, Inc.Passive | $32.2M | $3.68 | +$4.9M | +$32.2M | -0.2% | $5.69T |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $19.9M | $5.44 | +$19.9M | +$19.9M | — | $4.04T |
| Nuveen, LLC | $15.4M | $5.11 | +$12.6M | +$15.4M | +0.0% | $368.63B |
| MILLENNIUM MANAGEMENT LLC | $14.6M | $3.90 | +$8.3M | +$14.6M | -0.5% | $127.40B |
| SOFTBANK GROUP CORP. | $14.0M | $3.62 | +$0 | +$14.0M | +1.7% | $11.41B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $10.5M | $3.23 | +$655K | +$10.5M | +2.3% | $1.61T |
| STATE STREET CORPPassive | $9.5M | $3.08 | +$526K | +$9.5M | -0.2% | $2.89T |
| D. E. Shaw & Co., Inc. | $9.2M | $5.44 | +$9.2M | +$9.2M | -0.3% | $118.02B |
| JANE STREET GROUP, LLCMM | $9.1M | $4.35 | +$6.1M | +$9.1M | -0.1% | $92.10B |
| Archon Capital Management LLC | $9.0M | $5.44 | +$9.0M | +$9.0M | -3.0% | $175M |
| MARSHALL WACE, LLP | $8.6M | $5.27 | +$7.8M | +$7.8M | +0.6% | $92.71B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $7.0M | $5.44 | +$7.0M | +$7.0M | — | $1.91T |
| AQR CAPITAL MANAGEMENT LLC | $6.9M | $5.06 | +$6.1M | +$6.9M | -0.2% | $218.19B |
| RENAISSANCE TECHNOLOGIES LLC | $6.5M | $5.44 | +$6.5M | +$6.5M | +1.2% | $63.91B |
| UBS Group AG | $6.0M | $4.39 | +$4.0M | +$6.0M | -0.3% | $562.11B |
| CloudAlpha Capital Management Limited/Hong Kong | $5.0M | $5.44 | +$5.0M | +$5.0M | +5.3% | $910M |
| CITADEL ADVISORS LLC | $4.7M | $5.44 | +$4.7M | +$4.7M | -0.4% | $138.22B |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $4.5M | $5.44 | +$4.5M | +$4.5M | -0.0% | $24.95B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+1.25%
avg per quarter
Holders (ex-self)
+1.07%
excl. this stock
Buyers (this Q)
-0.09%
112 buyers · $0.20B in
Sellers (this Q)
-2.85%
21 sellers · $-0.04B out
alpha coverage: 93% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+7.9%
how holders react when this stock falls
On quiet Qs
-20.2%
−10% to +10% baseline
On rallies (+10%+)
+0.6%
how they react when this stock rises
Holders' portfolio flow this Q
-2.1%
outflows — trims may be forced
Sellers' portfolio flow this Q
-7.1%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-6.2%
Holder mid (any stock)
-5.1%
Holder rally (any stock)
-10.2%
Biggest decreases this quarter
Alyeska Investment Group, L.P.exited−$16.8MCANTOR FITZGERALD, L. P.−$14.0Mα-3.1Weiss Asset Management LPexited−$4.1MLuminArx Capital Management LPexited−$664KShay Capital LLCexited−$564KSG Americas Securities, LLCexited−$46KHSBC HOLDINGS PLCexited−$38KINSIGNEO ADVISORY SERVICES, LLCexited−$36KAtom Investors LPexited−$32KGROUP ONE TRADING LLCexited−$27K
New buyers this quarter
VANGUARD CAPITAL MANAGEMENT LLC+$0.02BD. E. Shaw & Co., Inc.+$0.01Bα-0.3Archon Capital Management LLC+$0.01Bα-3.0VANGUARD PORTFOLIO MANAGEMENT LLC+$0.01BRENAISSANCE TECHNOLOGIES LLC+$0.01Bα+1.2CloudAlpha Capital Management Limited/Hong Kong+$0.01Bα+5.3CITADEL ADVISORS LLC+$0.00Bα-0.4VOLORIDGE INVESTMENT MANAGEMENT, LLC+$0.00Bα-0.0Point72 Asset Management, L.P.+$0.00Bα+0.9TWO SIGMA INVESTMENTS, LP+$0.00Bα-0.9
Top-5 holders · 56.3%
Liberty 77 Capital L.P.--
CANTOR FITZGERALD, L. P.--
BlackRock, Inc.--
VANGUARD CAPITAL MANAGEMENT LLC--
Nuveen, LLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Liberty 77 Capital L.P.20.0MCANTOR FITZGERALD, L. P.10.8MAlyeska Investment Group, L.P.—Nuveen, LLC2.8MMILLENNIUM MANAGEMENT LLC2.7MSOFTBANK GROUP CORP.2.6MD. E. Shaw & Co., Inc.1.7MArchon Capital Management LLC1.6MMARSHALL WACE, LLP1.6MAQR CAPITAL MANAGEMENT LLC1.3M
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (4 analysts)$8.38-1190.0%
Last Year (7 analysts)$7.29-2330.0%
Current Price$9.51
Analyst Ratings
1
1
Buy: 1Sell: 1Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$197K
2 txns · 1 insider · 35,745 sh
Sells ($, 12mo)
$863K
3 txns · 3 insiders · 119,282 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$19K
1 txn · 1 insider · 10,000 sh
Sells ($, 12mo)
$13.93M
19 txns · 3 insiders · 16,056,893 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-14 | SELL | Kharsansky Alan | officer: Chief Technology Officer | 87,091 | $8.35 | $727K | $399K |
| 2026-03-30 | BUY | Dunn Rick | officer: Chief Financial Officer | 19,050 | $5.17 | $98K | $1.18M |
| 2026-03-30 | SELL | Tirman Matthew | officer: President | 9,499 | $5.18 | $49K | $799K |
| 2026-03-27 | BUY | Dunn Rick | officer: Chief Financial Officer | 16,695 | $5.91 | $99K | $1.23M |
| 2026-03-23 | SELL | CANTOR FITZGERALD, L. P. | other: See Remarks | 500,000 | $5.01 | $2.50M | $61.88M |
| 2026-01-30 | SELL | CANTOR FITZGERALD, L. P. | 10 percent owner | 5,575 | $5.55 | $31K | $71.35M |
| 2026-01-29 | SELL | CANTOR FITZGERALD, L. P. | 10 percent owner | 388,827 | $5.63 | $2.19M | $72.43M |
| 2026-01-28 | SELL | CANTOR FITZGERALD, L. P. | 10 percent owner | 129,971 | $5.56 | $722K | $73.65M |
| 2025-12-09 | BUY | CANTOR FITZGERALD, L. P. | 10 percent owner | 10,000 | $1.88 | $19K | $25.17M |
| 2025-12-09 | SELL | CANTOR FITZGERALD, L. P. | 10 percent owner | 10,000 | $1.87 | $19K | $25.04M |
| 2025-10-15 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 283,121 | $4.08 | $1.15M | $5.39M |
| 2025-10-14 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 11,040 | $4.00 | $44K | $6.43M |
| 2025-10-10 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 1,836 | $4.03 | $7K | $6.52M |
| 2025-10-09 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 314,767 | $4.09 | $1.29M | $6.63M |
| 2025-10-08 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 85,700 | $4.03 | $345K | $7.80M |
| 2025-10-06 | SELL | LUTNICK HOWARD W | 10 percent owner | 13,914,206 | $0.33 | $4.60M | $0 |
| 2025-09-24 | SELL | Dunn Rick | officer: Chief Financial Officer | 22,692 | $3.80 | $86K | $511K |
| 2025-09-23 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 130 | $4.00 | $520 | $8.08M |
| 2025-09-16 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 17,380 | $3.75 | $65K | $7.50M |
| 2025-09-15 | SELL | Kargieman Emiliano | director, 10 percent owner, officer: Chief Executive Officer | 209,413 | $3.85 | $806K | $7.77M |
Order Flow (FINRA, ~3w lag)
38.5%retail-0.4pp
12.7%dark-0.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Satellogic Inc.: Opaque Administrative Filing Masks Fundamental Financial Visibility
Overall Risk
6/10
Fraud
2/10
Dilution
7/10
Insolvency
5/10
Earnings Overstated
5/10
Hidden Liabilities
5/10
Legal
3/10
Audit Warnings
1/10
Hidden Upside
1/10
Contextually Acceptable
3/10