---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000840497.md"
description: "$Satellogic(SATL.US)From Space Story to Operating Business?Satellogic’s latest quarter may mark an important shift from speculative space story to a company showing real operating progress.Q2 revenue rose 259% year over year to $15.9 million, while SATL reported its first positive operating income and adjusted EBITDA. Adjusted EBITDA reached $2.8 million, compared with a $3.9 million loss a year earlier.The improvement came from both sides of the business. Data and Analytics contributed $7.1 million, while Space Systems generated $8.8 million as sovereign and defence demand expanded.SATL also ended the quarter with $112.8 million in cash and $80.7 million in remaining performance obligations, giving it stronger liquidity and better visibility into future revenue.Recent contract wins add weight to the story, including a $12 million sovereign satellite agreement and a separate defence-monitoring contract worth more than $18 million. The next major test is Merlin, SATL’s planned daily global-monitoring constellation. Its first launch is scheduled for October 2026, with full operational capability targeted for the first half of 2027.The risks remain clear. One profitable quarter does not guarantee sustained profitability, revenue can still be contract-driven, and execution on Merlin will be critical. Still, SATL is beginning to look less like a concept and more like a business proving that growth can translate into operating leverage."
datetime: "2026-08-06T11:14:05.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000840497.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000840497.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000840497.md)
author: "[Jeanine](https://longbridge.com/en/profiles/24640925.md)"
generator: "portal-rs"
---

# $Satellogic(SATL.US)From Space Story to Operating …


### Related Stocks

- [SATL.US](https://longbridge.com/en/quote/SATL.US.md)
- [MRLN.US](https://longbridge.com/en/quote/MRLN.US.md)
- [SATLW.US](https://longbridge.com/en/quote/SATLW.US.md)

## Comments (3)

- **Captain Leo · 2026-08-26T10:21:52.000Z**: Hey @Jeanine 👋 You're one of the more consistent voices in here, so wanted to invite you to something.We run a small invite-only group on Telegram for our most active community members — you'll hear about community events before they go live, get new features first, and have a direct line to
- **Bluegate1104 · 2026-08-06T11:36:49.000Z**: only 45.8m of that 80.7m rpo lands in the next 12 months. the rest is further out than it looks.
  - **Jeanine** (2026-08-06T12:34:48.000Z): Good point — $45.8M is expected to convert within the next 12 months, while the remainder is longer-dated. I still see the total RPO as useful visibility, but the timing distinction definitely matters


---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**