Satellogic

SATL

Aerospace & Defense · Technology

Price

$3.82

+0.25 (+7.00%)

Market Cap

$459.0M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Share count rising — dilution

+94.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 68.8M (2021) → 134.1M (2025)

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

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+80.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-147.1% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$5M/ year

↓ Declining (-65% vs prior year)

28.2% of revenue

1.9x the sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

45.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~6 years

$129M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$129M cash & investments at current burn rate

Revenue accelerating

Satellogic grew revenue 80% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

53.4%

Healthy — 53.4% gross margin

Operating Margin

-104.2%

Losing money on operations — -104.2%

ROCE

-5.4%

Weak — -5.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+58.0%

Fast-growing sales (58.0% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-161.6%

Burning cash (-161.6%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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