Sub-meter Earth observation · Imagery analytics & satellite sales
Satellogic
Satellogic is a vertically integrated, Uruguay-based operator of 50cm-class Earth-observation satellites. Q2 2026 revenue rose 259% to $15.9 million and operating income reached $0.3 million, its first positive quarter. Data & Analytics contributed $7.1 million and Space Systems $8.8 million; it also secured an imagery agreement above $18 million with an international defense customer and a $12 million in-orbit satellite transfer to a sovereign defense customer. Launch connects to SpaceX, while imagery and AI integration connects to Palantir.
Business categories Earth Observation · Space Infrastructure · primary Satellite & Space Systems · Space Infrastructure
SATL Updated Oct 10, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Satellogic is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 6 companies within two hops; the links are backed by 11 dated sources, 1 of them primary filings (as of 2026-10-10).
Financials & Segments
- Total revenue · Q2 2026 revenue $15.9M (+259%); operating income $0.3M
- Customer concentration · Data & Analytics $7.1M; Space Systems $8.8M; FY2025 top three customers ~54%
- Segments · Data & Analytics (incl. Constellation-as-a-Service) · Space Systems (dedicated satellite sales)
Revenue from
- CEiiA (Portugal) High confidence· Contract value $18M · 2025-12 · Total value of the two-satellite supply-and-in-orbit-delivery contract
Space Systems (satellite-sale) customer. In Dec 2025 signed an US$18M agreement with CEiiA to supply and deliver two NewSat Mark V 50cm-class satellites (Portuguese share of the Atlantic Constellation); announced 2026-01-12 with ownership transfer in Q2 2026.Confirms EN U.S. SEC EDGAR Published Mar 19, 2026: Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)Confirms EN GlobeNewswire Published Jan 12, 2026: Satellogic Signs $18MM USD Agreement with Portugal to Deliver Two Mark V High-Resolution Satellites - International defense customer (undisclosed) High confidence· Contract value $18M · one year · One-year high-frequency EO imagery agreement valued above US$18M
A one-year contract for persistent, high-frequency Earth-observation imagery, expanded from an initial trial to full-scale deployment in under six months. The customer was not disclosed.Confirms EN Satellogic Investor Relations Published Aug 5, 2026: Satellogic Reports Second Quarter 2026 Financial Results - Sovereign defense customer (undisclosed) High confidence· Contract value $12M · 2026 · Transfer of ownership and operations of one in-orbit NewSat satellite
Agreement to transfer ownership and operations of one commissioned Aleph-1 satellite and support independent command and data-processing capabilities. The customer was not disclosed.Confirms EN Satellogic Investor Relations Published Aug 5, 2026: Satellogic Reports Second Quarter 2026 Financial Results - Albanian government High confidence
Asset Monitoring / Data & Analytics customer. Followed the Sept-2022 three-year dedicated-constellation deal (satellites Albania-1/-2) with an 11-month extension on 2026-01-29, delivering country-wide 50cm imagery. Contract value not disclosed.Confirms EN U.S. SEC EDGAR Published Mar 19, 2026: Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)Confirms EN GlobeNewswire Published Jan 29, 2026: Satellogic Extends Country-Wide Monitoring Agreement with the Government of Albania - NASA (CSDA) Medium confidence· contract ceiling pooled $476M · through 2028-11-15 · Maximum cumulative contract ceiling across all eight awardees (Satellogic-specific value not disclosed)
U.S. government imagery revenue channel. Selected Sept 2024 as one of eight awardees under NASA's CSDA On-Ramp1 multiple-award IDIQ, effective through 2028-11-15. The US$476M ceiling is cumulative across all eight winners, not a Satellogic-specific allocation.Confirms EN GlobeNewswire Published Mar 24, 2025: Satellogic Reports 2024 Financial Results and Business UpdateMentions EN Satellogic (press release) Published Sep 6, 2024: Satellogic Selected for NASA's Commercial SmallSat Data Acquisition Program - HEO (Australia) Medium confidence
Additional Space Systems sale (confirmed via Spanish-language media). Sold the in-orbit NewSat-34 (Mark IV-g 'legacy') satellite to Australia's HEO, giving Australia its first sovereign sub-meter imaging capability. Sale value not disclosed.Mentions EN U.S. SEC EDGAR Published Mar 19, 2026: Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)Confirms ES Revista Mercado Published Feb 26, 2026: Satellogic sells an in-orbit satellite to HEO, enabling Australia's first sovereign sub-meter capability
Pays to
- SpaceX High confidence· purchase commitment $10M · through 2028 · Total noncancelable launch-service purchase commitments as of 2025-12-31 (~US$8.2M due in 2026)
Launch-services cost counterparty. Under the Multi-Launch Agreement (April 5, 2022) it reserved rideshare launches for its next 68 satellites; 42 slots remained at 2025-12-31. Noncancelable launch-service purchase commitments total US$10.2M through 2028, of which ~US$8.2M is for 2026.Confirms EN U.S. SEC EDGAR Published Mar 19, 2026: Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)Confirms EN Satellogic (press release) Published May 4, 2022: Satellogic Announces Multiple Launch Agreement with SpaceX for its Next 68 Sub-Meter Resolution Earth Observation Satellites - Palantir Technologies High confidence
Foundry and Edge AI software vendor. Under a five-year strategic partnership, Satellogic uses Palantir Foundry for business processes, imagery delivery, AI-model training and data integration, and tested Palantir Edge AI aboard NewSat satellites. Contract value was not disclosed.Confirms KO Naver Premium Content, Investment Farmer Published Dec 16, 2024: The Future Found in Space: Satellite Data and the AI Prediction RevolutionConfirms EN Satellogic Investor Relations Published Feb 1, 2022: Satellogic Announces Strategic Partnership With Palantir Technologies - Officina Stellare Medium confidence· equity stake 5 percent · 2022 · Acquired 5% (283,725 shares) of the supplier with an option to increase to up to 12% within 36 months
Components (telescopes / opto-mechanical instrumentation) procurement counterparty and equity investee. A 2022-05-06 Investment Agreement bought ~5% (283,725 shares, ~€3.8M); OS is a telescope provider for Satellogic and a key supplier supporting its vertical integration. Annual procurement amount not disclosed.Confirms EN U.S. SEC EDGAR Published Mar 19, 2026: Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)Confirms EN Satellogic (press release) Published Nov 8, 2022: Satellogic Completes Investment in Officina Stellare, a Leader in the Design and Production of Optomechanical Instrumentation
Investments
- Officina Stellare High confidence· equity stake 5 percent · 2022 · Acquired 5% (283,725 shares) of the supplier with an option to increase to up to 12% within 36 months
Acquired 5% of satellite-telescope supplier Officina Stellare (283,725 shares) for about EUR3.8 million. The strategic equity investment supported supply resilience and vertical integration, with an option at signing to increase the stake to as much as 12% within 36 months.Confirms EN U.S. SEC EDGAR Published Mar 19, 2026: Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)Confirms EN Satellogic (press release) Published Nov 8, 2022: Satellogic Completes Investment in Officina Stellare, a Leader in the Design and Production of Optomechanical Instrumentation
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Satellogic | node | · | -68.6 | -42.6 | +62.9 | -34.4 | +175.4 |
| SpaceX | benef1 | · | · | · | · | · | +0.7 |
| Palantir Technologies | benef1 | -22.7 | -64.7 | +167.4 | +340.5 | +135 | -1.9 |
| STMicroelectronics | benef2 | +32.4 | -26.8 | +41.7 | -49.7 | +5.3 | +102.2 |
| NVIDIA | benef2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.2 |
| EchoStar Corporation | benef2 | +24.4 | -36.7 | -0.7 | +38.2 | +374.7 | -17.4 |
| Oracle | benef2 | +36.9 | -4.6 | +30.9 | +60 | +18.1 | -26.5 |
YTD as of 2026-10-09 · source: Yahoo Finance
A NASDAQ-listed micro-cap spanning low-cost sub-meter Earth observation and satellite sales. After -34.4% in 2025, it rebounded +175.4% in 2026. Unlike the modest move in supplier SpaceX, the stock priced in defense contracts and its first quarterly operating profit early. The Palantir link closes the route from imagery collection to AI analysis and government distribution, while the $15.9M quarterly revenue base and customer concentration remain exception risks. Telescope supplier Officina Stellare is the lagging follow-up candidate, but it is private and not yet a graph node.
Analysis generated from returns as of 2026-10-09Analyst ratings
Consensus: Buy 3 · Hold 0 · Sell 0 · Avg. target $10 · Price $5.15 (10-09) · Upside +94%
| Broker | Rating | Target | Published | |
|---|---|---|---|---|
| Northland Securities · Michael Latimore | Outperform | $11 | Jun 16, 2026 | Report ↗ |
| Cantor Fitzgerald · Andres Sheppard | Overweight | $10 | May 13, 2026 | Report ↗ |
| Craig-Hallum · Jeff Van Rhee | Buy | $10 | May 13, 2026 | Report ↗ |
Unanimous bullish coverage: Northland, Craig-Hallum and Cantor Fitzgerald all rate Buy with targets converging around $10-11.
Analyses covering this node
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