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Satellogic, a prominent provider of high-resolution Earth observation data, has recently announced its implementation of cost-saving measures in 2023 due to slower-than-expected revenue growth. Initially, the company had projected revenues of $132 million for the year 2023, with a substantial increase to $787 million by 2025. However, they now anticipate their 2023 revenue to fall within the range of $30 to $50 million. To counter this setback, Satellogic has devised a revised business plan aimed at achieving Adjusted EBITDA breakeven in 2024.
In the preceding year, 2022, Satellogic experienced a commendable 42% growth in revenue, amounting to $6.0 million for the entire year. This growth was primarily driven by their asset monitoring services through the Constellation-as-a-Service (CaaS) business. The company concluded the year with a cash balance of $76.5 million and managed to reduce their net loss to $36.6 million, a significant improvement from the $96.3 million loss in 2021. However, the slower revenue growth observed in 2023 has compelled Satellogic to implement measures aimed at controlling costs and spending.
Satellogic’s business plan for 2023 encompasses funding requirements and revenue growth, with an expected surge in momentum, particularly in the latter half of the year. The company projects an adjusted EBITDA loss ranging from $20 to $35 million in 2023, aiming to achieve breakeven in 2024 and eventually reaching a positive range of $35 to $90 million in 2025. Despite the challenges faced, Satellogic remains steadfast in its commitment to long-term growth and endeavors to provide innovative solutions for its customers in the Earth observation market.
Satellogic Inc.
SATL
Sell
Updated on: 21/09/2023
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9:00 PM (UTC)
Date:19 September, 2023
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September 21, 2023: SATL Stock Opens at $1.64, Trading Range and Volume Analysis
On September 21, 2023, SATL stock opened at $1.64, higher than the previous day’s closing price of $1.52. Throughout the day, the stock traded within a range of $1.52 to $1.64. The volume of shares traded was 1,034, which is significantly lower than the average volume of 53,321 shares over the past three months.
Satellogic Inc Stock Performance: Potential Growth Amidst Caution from Analysts
On September 21, 2023, Satellogic Inc’s stock performance was closely watched by investors. According to data from CNN Money, the 1 analyst offering 12-month price forecasts for the company had a median target of $5.00, with both the high and low estimates also at $5.00. This indicates that there is a consensus among analysts that the stock has the potential to increase by 264.96% from its last price of $1.37.
It is worth noting that the current consensus among 1 polled investment analyst is to sell stock in Satellogic Inc. This rating has remained steady since May, when it was downgraded from a buy rating. This suggests that there may be concerns or uncertainties surrounding the company’s future performance, leading to a more cautious approach from analysts.
Unfortunately, there is no available data on the current quarter’s earnings per share or sales for Satellogic Inc. The reporting date is also yet to be determined. This lack of information may contribute to the uncertainty surrounding the stock and the sell rating from analysts.
Investors should consider these factors when evaluating Satellogic Inc’s stock performance on September 21, 2023. While there is a potential for significant growth according to the median price target, the sell rating and lack of current financial data indicate a level of caution among analysts. It is important for investors to conduct further research and analysis before making any investment decisions related to Satellogic Inc.
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