Satellogic

Satellogic (NASDAQ: SATL) is a vertically integrated commercial Earth observation operator founded in Argentina in 2010 by Emiliano Kargieman and Gerardo Richarte. The company designs, manufactures, launches, and operates its own sub-meter multispectral satellite constellation, the Aleph-1 fleet, from its primary manufacturing facility in Montevideo, Uruguay.^[1]

The Aleph-1 constellation comprised more than 57 NewSat satellites as of mid-2026, spanning multiple hardware marks operating in sun-synchronous orbits at 475-600 km altitude.^[2] Per-mark capability differs materially: the Mark IV baseline carries four-band (RGB + NIR, 450-900 nm) multispectral imagery at 0.99 m GSD and 5 km swath; the Mark V introduced upgraded cameras, computers, and subsystems yielding 0.7 m GSD and 6.7 km swath.^[2] The Mark V-B (first launched January 2023) further updated the multispectral and hyperspectral cameras, though the manufacturer has not published differentiated resolution or band-count specifications for this mark. The Mark VI variant adds inter-satellite links and is deployed in the Slingshot maritime intelligence programme. An on-orbit hyperspectral payload covers the VNIR range (approximately 460-830 nm) at 30 m GSD and 150 km swath with up to 32 user-configurable bands per acquisition.^[2] This VNIR-only coverage is narrower in spectral range than full-spectrum hyperspectral instruments that extend into the SWIR. Full-motion video capability at 1 m monochromatic resolution is available across the operational fleet.^[2]

Satellogic operates as a public company following a January 2022 SPAC merger listing on NASDAQ, and redomiciled from the British Virgin Islands to Delaware on March 26, 2025 to align with US government contracting requirements.^[3] Full-year 2025 revenue reached 7.7 million, a 38% increase over 2024, with the first positive operating cash flow recorded in Q1 2026.^[4]

The company's primary growth vector is government and defense tasking. In December 2024, Satellogic entered a tasking, data licensing, and distribution agreement with Maxar Intelligence (rebranded Vantor since October 2025) granting Vantor exclusive rights to task the Aleph-1 constellation for US government national security missions.^[5] Satellogic also supports a US Office of Naval Research maritime intelligence programme (Slingshot) using ISL-equipped Mark VI satellites, expanding to eight dedicated assets by 2027.^[6]

Two next-generation programmes are in development: NextGen, a 30 cm-class, non-ITAR, AI-enabled platform with a first unit launched October 2025 and operational service expected by 2027; and Merlin, a planned daily-global-coverage constellation at 1 m GSD across ten Sentinel-2-aligned spectral bands with first launch targeted for October 2026 and full capability in H1 2027.^[7][8]