{"slug":"satellogic","name":"새틀로직","name_en":"Satellogic","ticker":"SATL","updated_at":"2026-07-12T04:18:52.212+00:00","canonical":"https://valuechain.wiki/satellogic","same_as":["https://finance.yahoo.com/quote/SATL","https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1874315"],"citable":"밸류체인 그래프 기준 새틀로직의 직접 연결 기업은 1곳(관계 기준 공급 1·매출 0)이고, 사슬을 2차까지 넓히면 2곳에 닿는다. 링크의 근거 출처는 8건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Satellogic is directly linked to 1 companies (1 supply, 0 revenue relationships) and reaches 2 companies within two hops; the links are backed by 8 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"나스닥 · 저비용 서브미터 EO · 위성 판매 소형주","kicker_en":"NASDAQ · Low-cost sub-meter EO · satellite-sales micro-cap","lead":"새틀로직은 우루과이에서 위성을 수직통합 제조하는 저비용 서브미터(50cm급) 지구관측 사업자로, 2025년 3월 미국 델라웨어 법인으로 전환했다. 2025년 매출은 1,770만 달러(+38%)로 작지만 순손실이 480만 달러까지 줄었다. 데이터·분석(1,600만 달러)과 위성 판매(포르투갈 CEiiA 1,800만 달러 계약, 알바니아 전용 위성)로 나뉘고, 상위 3개 고객이 매출의 절반 이상을 차지한다. 발사는 SpaceX 다중발사 계약(68기 중 42슬롯 잔여)으로 확보했다.","lead_en":"Satellogic is a low-cost sub-meter (50cm-class) Earth-observation operator that vertically integrates satellite manufacturing in Uruguay, and redomiciled to Delaware in March 2025. FY2025 revenue was a modest $17.7 million (up 38%) with net loss narrowing to $4.8 million. The business splits into data and analytics ($16.0M) and satellite sales (an $18M contract with Portugal's CEiiA, dedicated satellites for Albania), with the top three customers over half of revenue. Launch is secured under a SpaceX multi-launch agreement (42 of 68 slots remaining).","segments":{"parts":[{"desc":"구독형 영상·분석(CaaS)이 매출 본체($16.0M) — NASA CSDA·알바니아 등.","name":"Data & Analytics (CaaS 포함)"},{"desc":"국가 정부에 전용위성 직판 — CEiiA $1,800만 등 신성장축.","name":"Space Systems (전용위성 판매)"}],"total":"FY2025 매출 $17.7M (+38%)","concentration":"상위 3개 고객 $9.6M(약 54%), 북미 $12.1M"},"segments_en":{"parts":[{"desc":"Subscription imagery/analytics (CaaS) is the revenue core ($16.0M) — NASA CSDA, Albania, etc.","name":"Data & Analytics (incl. Constellation-as-a-Service)"},{"desc":"Direct dedicated-satellite sales to national governments — the new growth axis (e.g. CEiiA $18M).","name":"Space Systems (dedicated satellite sales)"}],"total":"FY2025 revenue $17.7M (+38%)","concentration":"Top-3 customers $9.6M (~54%); North America $12.1M"},"returns_yearly":{"2022":-68.6,"2023":-42.6,"2024":62.9,"2025":-34.4,"2026":142.8},"return_asof":"2026-07-10","value_chain":{"leading":[],"benefiting":[{"slug":"spacex","name":"스페이스X","name_en":"SpaceX","tier":1,"returns_yearly":{"2026":0.7}},{"slug":"stmicroelectronics","name":"ST마이크로일렉트로닉스","name_en":"STMicroelectronics","tier":2,"returns_yearly":{"2021":32.4,"2022":-26.8,"2023":41.7,"2024":-49.7,"2025":5.3,"2026":176.6}},{"slug":"cohu","name":"코후","name_en":"Cohu","tier":3,"returns_yearly":{"2021":-0.2,"2022":-15.9,"2023":10.4,"2024":-24.6,"2025":-12.8,"2026":141.4}},{"slug":"wolfspeed","name":"울프스피드","name_en":"Wolfspeed","tier":3,"returns_yearly":{"2026":102.7}},{"slug":"cadence","name":"Cadence Design Systems","name_en":"Cadence Design Systems","tier":3,"returns_yearly":{"2021":36.6,"2022":-13.8,"2023":69.6,"2024":10.3,"2025":4,"2026":22.9}},{"slug":"synopsys","name":"Synopsys","name_en":"Synopsys","tier":3,"returns_yearly":{"2021":42.1,"2022":-13.4,"2023":61.3,"2024":-5.7,"2025":-3.2,"2026":-5.2}}],"analysis":"우루과이에서 위성을 수직통합 제조하는 저비용 서브미터(50cm급) 지구관측 사업자로, 2025년 델라웨어 법인 전환 뒤 데이터·분석과 전용위성 판매 두 축으로 사업한다. FY2025 매출은 1,770만 달러(+38%)로 작지만 순손실이 480만 달러까지 줄었고, 포르투갈 CEiiA($1,800만)·알바니아 전용위성처럼 국가 정부에 위성을 파는 Space Systems가 신성장축이다. 다만 상위 3개 고객이 매출의 절반 이상(54%)을 차지하는 집중과 소형주 특유의 자본 제약이 리스크이며, 발사는 SpaceX 다중발사 계약(68기 중 42슬롯 잔여)으로 확보했다. 그래프상 상류는 SpaceX(발사)·Officina Stellare(망원경, 지분 5%)이고, 하류는 NASA·포르투갈·알바니아 등 정부 고객이다.","analysis_en":"A low-cost sub-meter (50cm-class) Earth-observation operator that vertically integrates satellite manufacturing in Uruguay and, after redomiciling to Delaware in 2025, runs two axes: data/analytics and dedicated-satellite sales. FY2025 revenue was a modest $17.7M (+38%) with net loss narrowing to $4.8M, and Space Systems — selling satellites to national governments (Portugal's CEiiA at $18M, dedicated satellites for Albania) — is the new growth axis. But the top three customers are over half of revenue (54%) and micro-cap capital constraints are risks, with launch secured under a SpaceX multi-launch agreement (42 of 68 slots remaining). Upstream on the graph are SpaceX (launch) and Officina Stellare (telescopes, 5% stake); downstream are government customers such as NASA, Portugal and Albania.","analysis_asof":"2026-07-09"},"edges":[{"direction":"revenue","counterparty":"CEiiA (포르투갈)","counterparty_slug":null,"confidence":"high","metric":{"type":"contract_value","unit":"USD million","as_of":"2026-01-12","basis":"위성 2기 공급·궤도 인도 계약 총액","value":18,"period":"2025-12","basis_en":"Total value of the two-satellite supply-and-in-orbit-delivery contract"},"note":"Space Systems(위성 판매) 매출처. 2025-12 CEiiA와 US$18M 계약, NewSat Mark V 50cm급 위성 2기 공급·궤도 인도(대서양 콘스텔레이션 포르투갈 몫). 2026-01-12 발표, 소유·운용권 2026 Q2 이전.","note_en":"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.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"U.S. SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-19","url":"https://www.sec.gov/Archives/edgar/data/1874315/000187431526000013/satl-20251231.htm","title":"Satellogic Inc. FY2025 연차보고서(10-K)","title_en":"Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)","excerpt":"In December 2025, the Company entered into an $18 million agreement with the Centre of Engineering and Product Development in Portugal (\"CEiiA\") to supply and deliver two NewSat Mark V 50cm-class imaging satellites for the Portuguese component of the Atlantic Constellation.","excerpt_en":"In December 2025, the Company entered into an $18 million agreement with the Centre of Engineering and Product Development in Portugal (\"CEiiA\") to supply and deliver two NewSat Mark V 50cm-class imaging satellites for the Portuguese component of the Atlantic Constellation."},{"stance":"confirms","publisher":"GlobeNewswire","publisher_en":"GlobeNewswire","kind":"news","lang":"en","published_at":"2026-01-12","url":"https://www.globenewswire.com/news-release/2026/01/12/3216793/0/en/Satellogic-Signs-18MM-USD-Agreement-with-Portugal-to-Deliver-Two-Mark-V-High-Resolution-Satellites.html","title":"새틀로직, 포르투갈과 US$18M 계약…Mark V 위성 2기 인도","title_en":"Satellogic Signs $18MM USD Agreement with Portugal to Deliver Two Mark V High-Resolution Satellites","excerpt":"Satellogic announced an agreement with CEiiA, the Centre of Engineering and Product Development in Portugal, for the supply and in-orbit delivery of two NewSat Mark V 50cm-class imaging satellites. The agreement is valued at $18 million.","excerpt_en":"Satellogic announced an agreement with CEiiA, the Centre of Engineering and Product Development in Portugal, for the supply and in-orbit delivery of two NewSat Mark V 50cm-class imaging satellites. The agreement is valued at $18 million."}]},{"direction":"cost","counterparty":"SpaceX","counterparty_slug":"spacex","confidence":"high","metric":{"type":"purchase_commitment","unit":"USD million","as_of":"2025-12-31","basis":"취소불능 발사서비스 계약 잔여 구매약정 총액(2025-12-31 기준; 2026년분 약 US$8.2M)","value":10.2,"period":"through 2028","basis_en":"Total noncancelable launch-service purchase commitments as of 2025-12-31 (~US$8.2M due in 2026)"},"note":"발사 서비스 비용처. Multi-Launch Agreement(2022-04-05)로 차기 68기 라이드셰어 발사 확보. 2025-12-31 기준 42 슬롯 잔여. 취소불능 발사서비스 계약 잔여 약정 총액 US$10.2M(2028년까지), 2026년분 약 US$8.2M.","note_en":"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.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"U.S. SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-19","url":"https://www.sec.gov/Archives/edgar/data/1874315/000187431526000013/satl-20251231.htm","title":"Satellogic Inc. FY2025 연차보고서(10-K)","title_en":"Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)","excerpt":"Future purchase commitments under noncancelable launch service contracts as of December 31, 2025 consisted of approximately $8.2 million of total purchase commitments for the year ending December 31, 2026 and total commitments of $10.2 million through 2028. In April 2022, we secured launch capacity for our next 68 launches with SpaceX, via the SpaceX Agreement. At December 31, 2025, we had 42 launch slots remaining.","excerpt_en":"Future purchase commitments under noncancelable launch service contracts as of December 31, 2025 consisted of approximately $8.2 million of total purchase commitments for the year ending December 31, 2026 and total commitments of $10.2 million through 2028. In April 2022, we secured launch capacity for our next 68 launches with SpaceX, via the SpaceX Agreement. At December 31, 2025, we had 42 launch slots remaining."},{"stance":"confirms","publisher":"Satellogic(보도자료)","publisher_en":"Satellogic (press release)","kind":"ir","lang":"en","published_at":"2022-05-04","url":"https://satellogic.com/news/press-releases/satellogic-announces-multiple-launch-agreement-with-spacex-for-its-next-68-sub-meter-resolution-earth-observation-satellites/","title":"새틀로직, SpaceX와 차기 68기 위성 다중발사 계약 발표","title_en":"Satellogic Announces Multiple Launch Agreement with SpaceX for its Next 68 Sub-Meter Resolution Earth Observation Satellites","excerpt":"Satellogic Announces Multiple Launch Agreement with SpaceX for its Next 68 Sub-Meter Resolution Earth Observation Satellites — Strategic agreement positions Satellogic to achieve weekly remapping of the entire surface of the Earth in 2023.","excerpt_en":"Satellogic Announces Multiple Launch Agreement with SpaceX for its Next 68 Sub-Meter Resolution Earth Observation Satellites — Strategic agreement positions Satellogic to achieve weekly remapping of the entire surface of the Earth in 2023."}]},{"direction":"revenue","counterparty":"알바니아 정부","counterparty_slug":null,"confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"Asset Monitoring/Data & Analytics 매출처. 2022-09 3년 전용위성 콘스텔레이션 계약(Albania-1·2 명명)에 이어 2026-01-29 11개월 연장. 전국 50cm 고해상 영상 지속 제공. 공개 계약금액 미공시.","note_en":"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.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"U.S. SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-19","url":"https://www.sec.gov/Archives/edgar/data/1874315/000187431526000013/satl-20251231.htm","title":"Satellogic Inc. FY2025 연차보고서(10-K)","title_en":"Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)","excerpt":"On January 29, 2026, the Company entered into an 11-month contract extension with the Government of Albania to continue providing country-wide, high-frequency satellite monitoring services. The agreement builds upon a prior three-year contract and provides dedicated satellite capacity and high-resolution imagery.","excerpt_en":"On January 29, 2026, the Company entered into an 11-month contract extension with the Government of Albania to continue providing country-wide, high-frequency satellite monitoring services. The agreement builds upon a prior three-year contract and provides dedicated satellite capacity and high-resolution imagery."},{"stance":"confirms","publisher":"GlobeNewswire","publisher_en":"GlobeNewswire","kind":"news","lang":"en","published_at":"2026-01-29","url":"https://www.globenewswire.com/news-release/2026/01/29/3228574/0/en/Satellogic-Extends-Country-Wide-Monitoring-Agreement-with-the-Government-of-Albania-Enabling-Persistent-National-Earth-Intelligence.html","title":"새틀로직, 알바니아 정부와 전국 모니터링 계약 연장","title_en":"Satellogic Extends Country-Wide Monitoring Agreement with the Government of Albania","excerpt":"The 11-month contract extension builds on a previously signed three-year agreement that provided Albania with dedicated satellite capacity and the naming of two satellites, Albania-1 and Albania-2. Under the extended agreement, Albanian government agencies will continue to receive frequent, high-resolution (50 cm) imagery covering the country's entire territory.","excerpt_en":"The 11-month contract extension builds on a previously signed three-year agreement that provided Albania with dedicated satellite capacity and the naming of two satellites, Albania-1 and Albania-2. Under the extended agreement, Albanian government agencies will continue to receive frequent, high-resolution (50 cm) imagery covering the country's entire territory."}]},{"direction":"revenue","counterparty":"NASA (CSDA)","counterparty_slug":null,"confidence":"mid","metric":{"type":"contract_ceiling_pooled","unit":"USD million (8개사 공동 상한)","as_of":"2024-09-06","basis":"8개 수주사 전체 최대 누적 계약 상한(새틀로직 개별액 미공시)","value":476,"period":"through 2028-11-15","basis_en":"Maximum cumulative contract ceiling across all eight awardees (Satellogic-specific value not disclosed)"},"note":"미국 정부 영상 매출처. 2024-09 NASA CSDA On-Ramp1 8개사 복수수주 IDIQ 선정, 2028-11-15까지 유효. 최대 US$476M은 8개 수주사 전체 누적 상한이며 새틀로직 개별 배정액 아님.","note_en":"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.","sources":[{"stance":"confirms","publisher":"GlobeNewswire","publisher_en":"GlobeNewswire","kind":"news","lang":"en","published_at":"2025-03-24","url":"https://www.globenewswire.com/news-release/2025/03/24/3048318/0/en/Satellogic-Reports-2024-Financial-Results-and-Business-Update.html","title":"새틀로직 2024 실적 및 사업 업데이트","title_en":"Satellogic Reports 2024 Financial Results and Business Update","excerpt":"Selected as one of eight recipients of NASA's Commercial SmallSat Data Acquisition Program with a maximum cumulative value of $476 million for all award winners.","excerpt_en":"Selected as one of eight recipients of NASA's Commercial SmallSat Data Acquisition Program with a maximum cumulative value of $476 million for all award winners."},{"stance":"mentions","publisher":"Satellogic(보도자료)","publisher_en":"Satellogic (press release)","kind":"ir","lang":"en","published_at":"2024-09-06","url":"https://satellogic.com/news/press-releases/satellogic-selected-for-nasas-commercial-smallsat-data-acquisition-program/","title":"새틀로직, NASA CSDA 프로그램 선정","title_en":"Satellogic Selected for NASA's Commercial SmallSat Data Acquisition Program","excerpt":"Satellogic will provide NASA with high-resolution multispectral imagery under a multiple-award contract in effect until November 15, 2028.","excerpt_en":"Satellogic will provide NASA with high-resolution multispectral imagery under a multiple-award contract in effect until November 15, 2028."}]},{"direction":"cost","counterparty":"Officina Stellare","counterparty_slug":null,"confidence":"mid","metric":{"type":"equity_stake","unit":"percent","as_of":"2022-11-08","basis":"공급사 지분 5%(283,725주) 취득, 향후 36개월 내 최대 12%까지 확대 옵션","value":5,"period":"2022","basis_en":"Acquired 5% (283,725 shares) of the supplier with an option to increase to up to 12% within 36 months"},"note":"부품(망원경·옵토메카닉 기기) 조달 비용처 겸 지분투자처. 2022-05-06 Investment Agreement로 5%(283,725주) 취득(약 €3.8M), OS는 새틀로직 위성용 망원경 공급사이자 수직통합·공급망 안정화의 핵심 공급사. 개별 조달금액 미공시.","note_en":"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.","sources":[{"stance":"confirms","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"U.S. SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-19","url":"https://www.sec.gov/Archives/edgar/data/1874315/000187431526000013/satl-20251231.htm","title":"Satellogic Inc. FY2025 연차보고서(10-K)","title_en":"Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)","excerpt":"On May 6, 2022, we entered into an Investment Agreement with Officina Stellare S.p.A. (\"OS\"), a company engaged in the design and production of telescopes and opto-mechanical and aerospace instrumentation for ground and space-based applications, to purchase 5% (283,725 shares) of OS's outstanding common shares.","excerpt_en":"On May 6, 2022, we entered into an Investment Agreement with Officina Stellare S.p.A. (\"OS\"), a company engaged in the design and production of telescopes and opto-mechanical and aerospace instrumentation for ground and space-based applications, to purchase 5% (283,725 shares) of OS's outstanding common shares."},{"stance":"confirms","publisher":"Satellogic(보도자료)","publisher_en":"Satellogic (press release)","kind":"ir","lang":"en","published_at":"2022-11-08","url":"https://satellogic.com/news/press-releases/satellogic-completes-investment-in-officina-stellare-a-leader-in-the-design-and-production-of-optomechanical-instrumentation/","title":"새틀로직, 옵토메카닉 기기 리더 Officina Stellare 투자 완료","title_en":"Satellogic Completes Investment in Officina Stellare, a Leader in the Design and Production of Optomechanical Instrumentation","excerpt":"Acquiring a significant ownership interest in Officina Stellare represents a strategic investment in a key industry supplier, and is a large step towards furthering Satellogic's own vertical integration and greater supply chain resiliency. The company continues to be a telescope provider for Satellogic.","excerpt_en":"Acquiring a significant ownership interest in Officina Stellare represents a strategic investment in a key industry supplier, and is a large step towards furthering Satellogic's own vertical integration and greater supply chain resiliency. The company continues to be a telescope provider for Satellogic."}]},{"direction":"revenue","counterparty":"HEO (호주)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"Space Systems 매출 보강 사례(ES 매체 확인). 궤도상 NewSat-34(Mark IV-g 'legacy') 위성을 호주 HEO에 매각, 호주 최초의 서브미터 주권 영상 역량 구현. 매각금액 미공시.","note_en":"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.","sources":[{"stance":"mentions","publisher":"미국 증권거래위원회(SEC EDGAR)","publisher_en":"U.S. SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-19","url":"https://www.sec.gov/Archives/edgar/data/1874315/000187431526000013/satl-20251231.htm","title":"Satellogic Inc. FY2025 연차보고서(10-K)","title_en":"Satellogic Inc. Form 10-K (FY ended Dec 31, 2025)","excerpt":"Space Systems: We sell dedicated satellites directly to national governments. Recent progress includes major contracts with Portugal and Albania, allowing these nations to manage their own orbital assets.","excerpt_en":"Space Systems: We sell dedicated satellites directly to national governments. Recent progress includes major contracts with Portugal and Albania, allowing these nations to manage their own orbital assets."},{"stance":"confirms","publisher":"Revista Mercado","publisher_en":"Revista Mercado","kind":"news","lang":"es","published_at":"2026-02-26","url":"https://mercado.com.ar/economia-del-espacio/satellogic-vende-un-satelite-en-orbita-a-heo-y-habilita-la-primera-capacidad-soberana-submetrica-de-australia/","title":"Satellogic, 궤도 위성을 HEO에 매각…호주 첫 서브미터 주권역량 실현","title_en":"Satellogic sells an in-orbit satellite to HEO, enabling Australia's first sovereign sub-meter capability","excerpt":"Satellogic cerró con la australiana HEO la venta de NewSat-34 —un satélite \"legacy\" Mark IV-g— y, con ese traspaso de título, Australia pasó a contar con su primera capacidad soberana de imágenes submétricas bajo control local.","excerpt_en":"Satellogic closed with Australia's HEO the sale of NewSat-34 —a 'legacy' Mark IV-g satellite— and, with that transfer of title, Australia gained its first sovereign sub-meter imaging capability under local control."}]}]}