Satellogic Selected for NASA's Commercial SmallSat Data Acquisition Program

Rhea-AI Summary

Satellogic Inc. (NASDAQ: SATL) has been selected as one of eight recipients for NASA's Commercial SmallSat Data Acquisition Program (CSDA) On-Ramp1 Multiple Award contract. The contract, announced on September 6, 2024, has a maximum cumulative value of $476 million for all award winners. Satellogic will provide NASA with high-resolution multispectral imagery until November 15, 2028.

This collaboration aims to offer NASA a cost-effective solution for augmenting Earth observation data, important for understanding climate change, monitoring environmental trends, and improving applications that benefit humanity. The CSDA program leverages the commercial space sector to enhance NASA's ability to gather Earth observation data efficiently and affordably.

Positive

• Selected as one of eight recipients for NASA's CSDA On-Ramp1 Multiple Award contract
• Contract has a maximum cumulative value of $476 million for all award winners
• Will provide high-resolution multispectral imagery to NASA until November 15, 2028
• Recognition of Satellogic's commitment to delivering accessible and actionable geospatial data
• Opportunity to contribute to NASA's Earth science research efforts

Negative

• None.

Insights

Financial Analyst

Satellogic's selection for NASA's CSDA program is a significant win for the company. The $476 million maximum contract value, shared among eight recipients, represents a substantial revenue opportunity. While the exact allocation is unclear, even a fraction of this amount could materially impact Satellogic's financial outlook. This contract enhances the company's credibility and may lead to increased market share in the competitive Earth observation sector. The multi-year nature of the contract (until 2028) provides revenue visibility and stability, which is particularly valuable for a growth-stage company like Satellogic. Investors should note that this NASA contract could serve as a springboard for additional government and commercial contracts, potentially accelerating Satellogic's growth trajectory.

Space Technology Expert

Satellogic's inclusion in NASA's CSDA program underscores the growing importance of commercial satellite data in scientific research. The company's sub-meter resolution imagery capabilities align well with NASA's needs for high-quality Earth observation data. This collaboration highlights a shift in the space industry, where government agencies increasingly rely on commercial providers for cost-effective and rapidly deployable solutions. Satellogic's multispectral imaging technology offers valuable insights for climate change monitoring and environmental trend analysis. The contract's focus on these critical areas positions Satellogic at the forefront of addressing global challenges through space technology. This partnership could drive further technological advancements and innovation in Satellogic's satellite and imaging capabilities, potentially leading to new product offerings and market opportunities.

Market Research Analyst

The NASA contract significantly boosts Satellogic's market position in the Earth observation industry. Being one of only eight companies selected for this program places Satellogic in an elite group of providers, which could attract attention from other potential clients, both governmental and commercial. This recognition by NASA may serve as a powerful marketing tool, potentially opening doors to new partnerships and contracts. The Earth observation market is projected to grow substantially, driven by increasing demand for geospatial intelligence across various sectors. Satellogic's involvement in climate change and environmental monitoring applications through this contract aligns with growing ESG trends, which could further enhance its appeal to investors and clients focused on sustainability. The company's ability to secure this competitive contract suggests strong product differentiation and could lead to improved market valuation in the satellite data services sector.

One of Eight Recipients to Multiple Award Contract

NEW YORK--(BUSINESS WIRE)-- Satellogic Inc. (NASDAQ: SATL), a leader in sub-meter resolution Earth Observation data, is proud to announce its selection as one of eight recipients of NASA's Commercial SmallSat Data Acquisition Program (CSDA) On-Ramp1 Multiple Award contract, with a maximum cumulative value of $476 million for all award winners. This award, announced on September 6, 2024, highlights Satellogic’s commitment to delivering high-quality Earth observation data to advance scientific research and enhance life on Earth.

Under the CSDA On-Ramp1, Satellogic will provide NASA with high-resolution multispectral imagery under a multiple-award contract in effect until November 15, 2028. The program aims to offer NASA a cost-effective solution for augmenting or complementing the Earth observation data gathered by the agency, other U.S. government entities, and international agencies. This data will be pivotal in efforts to understand and mitigate the effects of climate change, monitor environmental trends, and improve various applications that benefit humanity.

“We are excited to contribute to NASA's pioneering efforts in advancing Earth science research through commercial satellite data,” said Matt Tirman, President, at Satellogic. “This award recognizes our commitment to delivering accessible and actionable geospatial data, and we look forward to supporting NASA’s ongoing research and applications through this collaboration.”

The CSDA program is a strategic initiative designed to leverage the rapidly evolving commercial space sector. By working with commercial partners like Satellogic, NASA can enhance its ability to gather crucial Earth observation data efficiently and affordably. This collaboration underscores the importance of public-private partnerships in driving innovation and contributing to a better understanding of our planet.

For more information on the Commercial SmallSat Data Acquisition Program, visit https://www.nasa.gov/news-release/nasa-selects-companies-for-commercial-smallsat-services-award/.

About Satellogic

Satellogic is a leading provider of sub-meter resolution satellite imagery that delivers real-time insights for governments, industries, and consumers worldwide. With its growing constellation of small satellites, Satellogic offers scalable, cost-effective solutions for high-frequency Earth observation.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intends”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on Satellogic’s current expectations and beliefs concerning future developments and their potential effects on Satellogic and include statements concerning Satellogic’s strategies, Satellogic’s future opportunities, and the commercial and governmental applications for Satellogic’s technology. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. These statements are based on various assumptions, whether or not identified in this press release. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by, an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Satellogic. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: ((i) our ability to generate revenue as expected; (ii) our ability to continue as a going concern; (iii) our ability to effectively market and sell our EO services and to convert contracted revenues and our pipeline of potential contracts into actual revenues; (iv) risks related to the Secured Convertible Notes; (v) the potential loss of one or more of our largest customers; (vi) the considerable time and expense related to our sales efforts and the length and unpredictability of our sales cycle; (vii) risks and uncertainties associated with defense-related contracts; (viii) risks related to our pricing structure; (ix) our ability to scale production of our satellites as planned; (x) unforeseen risks, challenges and uncertainties related to our expansion into new business lines; (xi) our dependence on third parties, to transport and launch our satellites into space; (xii) our reliance on third party vendors and manufacturers to build and provide certain satellite components, products, or services; (xiii) our dependence on ground station and cloud-based computing infrastructure operated by third parties for value added services, and any errors, disruption, cybersecurity incidents, performance problems, or failure in their or our operational infrastructure; (xiv) risks related to certain minimum service requirements in our customer contracts; (xv) market acceptance of our EO services and our dependence upon our ability to keep pace with the latest technological advances; (xvi) our ability to identify suitable acquisition candidates or consummate acquisitions on acceptable terms, or our ability to successfully integrate acquisitions; (xvii) competition for EO services; (xviii) challenges with international operations or unexpected changes to the regulatory environment in certain markets; (xix) unknown defects or errors in our products; (xx) risk related to the capital-intensive nature of our business and our ability to raise adequate capital to finance our business strategies; (xxi) uncertainties regarding our previously announced and ongoing efforts to reduce operational costs and control spending, including workforce reductions; (xxii) uncertainties beyond our control related to the production, launch, commissioning, and/or operation of our satellites and related ground systems, software and analytic technologies; (xxiii) the failure of the market for EO services to achieve the growth potential we expect; (xxiv) risks related to our satellites and related equipment becoming impaired; (xxv) risks related to the failure of our satellites to operate as intended; (xxvi) production and launch delays, launch failures, and damage or destruction to our satellites during launch; (xxvii) significant risks and uncertainties related to our insurance that may not be covered by insurance; and (xxviii) the impact of natural disasters, unusual or prolonged unfavorable weather conditions, epidemic outbreaks, terrorist acts and geopolitical events (including the ongoing conflicts between Russia and Ukraine, in the Gaza Strip and the Red Sea region) on our business and satellite launch schedules. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of Satellogic’s Annual Report on Form 20-F and other documents filed or to be filed by Satellogic from time to time with the Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Satellogic assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Satellogic can give no assurance that it will achieve its expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240910957502/en/

Investor Relations:

Ryan Driver, VP of Strategy & Corporate Development

ryan.driver@satellogic.com

Media Relations:

Satellogic

pr@satellogic.com

Source: Satellogic Inc.

FAQ

What is the value of the NASA CSDA On-Ramp1 contract that Satellogic (SATL) was selected for?

The NASA CSDA On-Ramp1 Multiple Award contract has a maximum cumulative value of $476 million for all eight award winners, including Satellogic (SATL).

What type of data will Satellogic (SATL) provide to NASA under this contract?

Satellogic (SATL) will provide NASA with high-resolution multispectral imagery under the CSDA On-Ramp1 contract.

When was Satellogic (SATL) selected for NASA's Commercial SmallSat Data Acquisition Program?

Satellogic (SATL) was selected for NASA's Commercial SmallSat Data Acquisition Program on September 6, 2024.

How long will Satellogic's (SATL) contract with NASA for the CSDA program last?

Satellogic's (SATL) contract with NASA for the CSDA program will be in effect until November 15, 2028.