SATL Satellogic Inc

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Nature of the Business

On January 25, 2022 (the “Closing Date”), Satellogic Inc. (“Satellogic” or the “Company”), a business company incorporated in the British Virgin Islands (“BVI”), as a company limited by shares, consummated the transactions contemplated by the Agreement and Plan of Merger dated as of July 5, 2021 (the “Merger Agreement”), by and among the Company, CF Acquisition Corp. V, a Delaware corporation (“CF V” and now known as “Satellogic V Inc.”), Ganymede Merger Sub 1 Inc., a BVI business company incorporated in the BVI as a company limited by shares and a direct wholly owned subsidiary of the Company, Ganymede Merger Sub 2 Inc., a Delaware corporation wholly owned subsidiary of the Company, and Nettar.

Nettar was, prior to the transaction, the holding company of the Satellogic group and was incorporated on October 7, 2014 under the laws of the BVI as a company limited by shares. The registered office of Satellogic is located at Kingston Chambers BOX 173 C/O Maples Corporate Services BVI LTD Road Town, Tortola D8 VG1110.

References to “Nettar” contained herein refer to Nettar Group Inc. prior to the mergers, and references to “the Company,” “we,” “our,” “us” or “Satellogic” refer to Satellogic Inc. prior to the mergers and to the combined company following the mergers.

Through our subsidiaries, we invest in the software, hardware, and optics of the aerospace industry focusing on satellite and image analytics technologies. Our strategy is to build a planetary scale analytics platform based on a proprietary satellite constellation with the capability to generate insights from images and information, with focus on multi-temporal analysis and high frequency of revisits. We also intend to leverage our ability to quickly build and launch high quality, sub-meter satellites at a low cost by selling satellites to certain key customers.

Basis of Presentation

The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The Company conducts business through one operating segment.

The accompanying Condensed Consolidated Financial Statements include our accounts and those of our wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Condensed Consolidated Financial Statements are presented in United States dollars (hereinafter “U.S. dollars” or “$”).

The accompanying Condensed Consolidated Financial Statements are unaudited and reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of the interim period financial statements. The results of operations for these interim periods are not necessarily indicative of the results of operations to be expected for any future period or the full fiscal year. Certain prior year amounts have been reclassified to conform to the current year presentation.

Emerging Growth Company

We are an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (“the Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The JOBS Act exempts emerging growth companies from being required to comply with new or revised financial

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accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging grown company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. We have elected not to opt out of such extended transition period, which means that when a standard is issued or revised that has different application dates for public or private companies, we can adopt the new or revised standard at the time required for private companies to adopt such standard. The foregoing may make comparison of our financial statements with those of another public company difficult or impossible if such other public company is (i) not an emerging growth company or (ii) is an emerging growth company that has opted out of using the extended transition period, due to the potential differences in accounting standards used.

Going Concern and Liquidity

The accompanying unaudited condensed consolidated financial statements have been prepared assuming we will continue as a going concern. The going concern basis of presentation assumes that we will continue in operation one year after the date these unaudited condensed consolidated financial statements are issued, and we will be able to realize its assets and discharge its liabilities and commitments in the normal course of business.

Pursuant to the requirements of ASC Topic 205-40, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date these unaudited condensed consolidated interim financial statements are issued. This evaluation does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented or are not within control of the Company as of the date the unaudited condensed consolidated interim financial statements are issued. When substantial doubt exists, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the unaudited condensed consolidated interim financial statements are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the unaudited condensed consolidated interim financial statements are issued.

We have evaluated whether there are any conditions and events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern over the next twelve months through September 2024. Since inception, we have incurred significant operating losses and have an accumulated deficit of $252.7 million, with net cash used in operating activities of $26.3 million for the six months ended June 30, 2023. As of June 30, 2023, our existing sources of liquidity included cash and cash equivalents of $42.0 million. We believe that this current level of cash and cash equivalents are not sufficient to fund operations and capital expenditures to reach larger scale revenue generation from our product offerings.

In order for us to proceed and reach larger scale revenue generation, we will need to raise additional funds through the issuance of additional equity, debt or both. Until such time that we can generate revenue sufficient to achieve profitability, we expect to finance our operations through equity or debt financings, which may not be available to us on the timing needed or on terms that we deem to be favorable. To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership interest of our stockholders may be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect the rights of common stockholders. Debt financing and equity financing, if available, may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as

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Use of Estimates

The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions reflected in these Condensed Consolidated Financial Statements include, but are not limited to, revenue recognition; determination of useful lives of property and equipment; valuation of warrant liabilities, earnout liabilities, stock options; and determination of income tax. We evaluate our estimates and assumptions on an ongoing basis. Actual results could differ from those estimates and such differences may be material to the Condensed Consolidated Financial Statements.

Revenue Recognition

We recognize revenue in accordance with Topic 606, Revenue from contracts with customers. Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that we expect to receive in exchange for goods or services provided under such contracts. We apply the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) we satisfy each performance obligation.

Our main revenue stream is from services. We recognize as revenues, the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied. Revenue is recognized ratably over the subscription period or at the point in time upon delivery. Our satellite imagery can be delivered to customers in two ways: either by providing access via our platform or via electronic delivery.

The nature of our contracts does not currently give rise to variable consideration related to returns or refunds as those are not offered.

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We evaluate contracts with a minimum purchase commitment to determine whether we expect to be entitled to a breakage amount. We consider the requirements on constraining estimates variable consideration. The following factors are evaluated when assessing the increased likelihood of a significant revenue reversal: (i) the amount of consideration is highly susceptible to factors outside our influence or control (e.g., volatility in a market, judgment of action of third parties, weather conditions), (ii) uncertainty about the amount of consideration is not expected to be resolved for a long period of time, (iii) our experience with similar types of contracts is limited, or that experience has limited predictive value, (iv) we have a practice of either offering a broad range of price concessions or changing the payment terms and conditions of similar contracts in similar circumstances, and (v) the contract has a large number and broad range of possible consideration amounts.

We exclude amounts collected on behalf of third parties, such as sales taxes, when determining transaction price.

Contract liabilities consist of payments received from customers, or such consideration that is contractually due, in advance of providing the product or performing services.

We generally do not enter into long-term financing arrangements or payment plans with customers. Although our business practice is not to enter into contracts with non-cash consideration, at times this may occur. In these instances, we determine the fair value of the non-cash consideration at contract inception and includes this value as part of the total arrangement consideration. In instances where we cannot reasonably estimate the fair value of the non-cash consideration, we will measure the consideration indirectly by reference to its stand-alone selling price of the goods promised to the customer in exchange for consideration.

Fair Value Measurement

Certain assets and liabilities are carried at fair value in accordance with U.S. GAAP.

Valuation techniques used to measure fair value requires us to utilize observable and unobservable inputs. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Financial instruments carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable:

•Level 1: Quoted prices in active markets for identical assets or liabilities.

•Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.

•Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.

Assets and liabilities recognized at fair value on a recurring basis in the Condensed Consolidated Financial Statements are re-assessed at the end of each reporting period to determine whether any transfers have occurred between levels in the hierarchy.

For fair value disclosures, classes of assets and liabilities are based on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy.

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Credit risk management

Credit risk is the risk that a counterparty fails to discharge an obligation to us. We are exposed to credit risk from financial assets including cash, cash equivalents and restricted cash held at banks, trade and other receivables.

The credit risk is managed based on our credit risk management policies and procedures. Credit risk of any entity doing business with us is systematically analyzed, including aspects of a qualitative nature. The measurement and assessment of our total exposure to credit risk covers all financial instruments involving any counterparty risk.

The credit risk in respect of cash balances held with banks and deposits with banks are managed via diversification of bank deposits and are only with major reputable financial institutions.

As our risk exposure is mainly influenced by the individual characteristics of each customer, we continuously analyze the creditworthiness of significant debtors. Accounts receivable are non-interest bearing and generally on terms of 30 to 90 days. As of June 30, 2023 two customers, accounted for 84% of accounts receivable, net of allowance. As of December 31, 2022, one customer accounted for 72% of our accounts receivable net of allowance.

Two customers each accounted for more than 10% of our revenue totaling $2.6 million for the six months ended June 30, 2023 and $2.0 million for the six months ended June 30, 2022.

The Company contracts with certain third-party service providers to launch satellites and others for cloud-based computing infrastructure. Service providers who provide these services are limited. The inability of launch service providers and cloud based computing providers to perform under their contracts with the Company could materially impact future operating results.

Impairment of Assets

We assess potential impairments to long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets or asset group. We performed an impairment test as of June 30, 2023 due to our net loss for the period and concluded that the asset group is not impaired.

Estimates of future cash flows are highly subjective judgments based on management’s experience and knowledge of the Company's operations. These estimates can be significantly impacted by many factors, including changes in global economic conditions, operating costs, obsolescence of technology and competition.

If estimates or underlying assumptions change in the future, we may be required to record impairment charges. If the fair value of an asset group is less than its carrying amount, then the carrying amount of the asset group would be reduced to its fair value. That reduction is an impairment loss that would be recognized in the Condensed Consolidated Statements of Operations and Comprehensive Loss.

Equity Method Investments

We account for equity investments in which we have significant influence, but not a controlling financial interest, using the equity method of accounting. Under the equity method of accounting, investments are initially recorded at cost, less impairment, and subsequently adjusted to recognize our share of earnings or losses as a component of Other income (expense), net in the Condensed Consolidated Statements of Operations

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and Comprehensive Loss. Our equity method investments are required to be reviewed for impairment when it is determined there may be an other-than-temporary loss in value. We have not recorded any impairment losses related to our equity method investments during the period ended June 30, 2023.

Stock-Based Compensation

We measure and recognize all stock-based compensation expense based on estimated fair values for all stock-based awards made to employees and non-employees. Compensation cost is recognized over the requisite service period for each separate tranche, as though each tranche of the award is, in substance, a separate award. The expense calculation includes estimated forfeiture rates, which have been developed based upon historical experience.

The fair values for stock options are calculated using the Black-Scholes option pricing model using the following inputs:

Expected term - The simplified method is used to calculate the expected term.

Expected volatility - We determine the expected stock price volatility based on the historical volatilities of guideline companies from comparable industries.

Expected dividend yield - We do not use a dividend rate due to the fact that we have never declared or paid cash dividends on the Company’s common stock and we do not anticipate doing so in the foreseeable future.

Risk-free interest rate - We base our interest rate on a treasury instrument for which the term is commensurate with the maximum expected life of the stock options.

The fair values for restricted stock units ("RSUs") with service-based vesting conditions are calculated based upon our closing stock price on the date of the grant.

Foreign Currencies

The financial position and results of operations of certain of our foreign subsidiaries are measured using the local currency as the functional currency. Revenues and expenses of these subsidiaries have been translated into U.S. dollars at average exchange rates prevailing during the period. Assets and liabilities of these subsidiaries have been translated at the exchange rates as of the balance sheet date. Translation gains and losses are recorded in accumulated other comprehensive loss.

Aggregate foreign currency gains and losses, such as those resulting from the settlement of receivables or payables, foreign currency contracts and short-term intercompany advances in a currency other than the relevant subsidiary’s functional currency, are recorded currently in the Condensed Consolidated Statements of Operations and Comprehensive Loss (included in other income, net) and resulted in gains of $2.0 million and $0.5 million during the six-month periods ended June 30, 2023 and 2022, respectively.

Leases

We determines if a contract is a lease or contains a lease at inception. On the lease commencement date, we recognize a right-of-use (“ROU”) asset and lease liability related to operating type leases. The cost of ROU assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Operating lease liabilities are recorded based on the present value of the future lease fixed payments. In determining the present value of future lease payments, we use our incremental borrowing rate applicable to the economic environment and the duration of

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the lease based on the information available at the commencement date as the majority of leases do not provide an implicit rate. For real estate and equipment contracts, we generally account for the lease and non-lease components as a single lease component. In assessing the lease term, we include options to renew only when we are reasonably certain that such option(s) will be exercised; a determination which is at our sole discretion. Variable lease payments are recognized as expenses in the period incurred. For leases with an initial term of 12 months or less, we have elected to not record an ROU asset and lease liability. We record lease expense on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, beginning on the commencement date.

We remeasure and reallocate the consideration in a lease when there is a modification of the lease that is not accounted for as a separate contract. The lease liability is remeasured when there is a change in the lease term or in the assessment of whether we will exercise a lease option. We assess ROU assets for impairment in accordance with our long-lived asset impairment policy.

We account for lease agreements with contractually required lease and non-lease components on a combined basis. Lease payments made for cancellable leases, variable amounts that are not based on an observable index and lease agreements with an original duration of less than 12 months are recorded directly to lease expense.

For the periods presented, the Company does not have any financing type leases.

For the six months ended June 30, 2023 and 2022, lease expense was $1.3 million and $0.9 million, respectively. Lease obligations and right of use assets increased as of June 30, 2023 compared to December 31, 2022 due primarily to inflation adjustments to lease payments in certain facility leases, which were accounted for as lease modifications in the six months ended June 30, 2023.

Accounts Receivable and Allowance for Doubtful Accounts

Trade accounts receivable are stated at the amount owed by the customer, net of allowances for estimated doubtful accounts, discounts, returns and rebates. We measure the allowance for doubtful accounts based on the estimated loss.

In calculating an allowance for doubtful accounts, we use our historical experience, external indicators and an aging method. We assess impairment of trade accounts receivable on a collective basis as they possess shared credit risk characteristics, which have been grouped based on customer industry type. The Company also considers account size in its groupings and the days past due in its analysis.

Accounts are written off against the allowance account when they are determined to be no longer collectible. The following table shows the activity in the allowance for doubtful accounts for the six months ended June 30, 2023 and 2022:

			Six Months Ended June 30,
			2023						2022
Allowance for doubtful accounts as of beginning of period			$	3,237					$	1,794
Provision			63						1,456
Allowance for doubtful accounts as of end of period			$	3,300					$	3,250

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents include deposits in banks and short-term (original maturities of three months or less at the time of purchase), highly liquid investments that are readily convertible to known amounts of cash with a maturity of three months or less at the time of purchase.

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Restricted cash, including amounts in Other non-current assets, represents amounts pledged as guarantees for sales and lease agreements as contractually required.

			June 30, 2023						December 31, 2022
Cash and cash equivalents			$	41,978					$	76,528
Restricted cash			—						126
Restricted cash included in Other non-current assets			1,148						1,138
Total cash, cash equivalents and restricted cash			$	43,126					$	77,792

Cash Flow Information

			Six Months Ended June 30,
			2023						2022
Cash paid during the period for:
Income tax, net of refunds			$	174					$	415
Interest			$	3					$	2,390

Accounting Standard Recently Adopted

In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires entities to use a forward-looking approach based on current expected credit losses to estimate credit losses on certain types of financial instruments, including trade receivables, resulting in an earlier recognition of losses than under the current incurred loss approach, which requires waiting to recognize a loss until it is probable of being incurred. We adopted this guidance as of January 1, 2023. The impact of adopting this new guidance was not material to the consolidated financial statements.

On January 25, 2022 and pursuant to the Merger Agreement, the merger between the Company and CF V (the “Merger”) was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, CF V was treated as the “acquired” company and Satellogic was treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the reverse recapitalization was treated as the equivalent of the Company issuing stock for the net assets of CF V, accompanied by a recapitalization. The net assets of CF V were stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Merger represent those of the Company.

The transaction resulted in net cash proceeds of $168 million, after transaction expenses and debt repayment, through the contribution of cash held in CF V’s trust account, net of redemptions by CF V’s public stockholders, and a concurrent private placement offering led by SoftBank’s SBLA Advisers Corp. and Cantor Fitzgerald & Co. (“CF&Co.”), among other institutional investors, and the Liberty Investment, as defined and described further below.

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On the Closing Date, the Company consummated the Merger contemplated by the Merger Agreement, including the following:

Private Placement (“PIPE”) Investment

Pursuant to the relevant subscription agreement, the Company issued 5,816,770 Class A ordinary shares and a non-redeemable warrant (“PIPE Warrant”) to purchase 2,500,000 Class A ordinary shares to a PIPE investor at an exercise price of $20.00 per share, for an aggregate purchase price of $58.2 million.

Forward Purchase Agreement

In July 2021, CFAC Holdings V, LLC (the “Sponsor”), CF V, and Satellogic entered into the Amended and Restated Forward Purchase Agreement (“FPA”), pursuant to which Satellogic issued to the Sponsor 1,250,000 Class A ordinary shares, and warrants to purchase an additional 333,333 Class A ordinary shares at an exercise price of $11.50 per share (“Forward Purchase Warrant”), for an aggregate purchase price of $10 million.

Cantor Loan

Satellogic and Cantor Fitzgerald Securities (“CF Securities”) entered into a Secured Promissory Note, dated December 23, 2021 (the “Promissory Note”), pursuant to which CF Securities agreed to loan $7.5 million to Satellogic (the “Cantor Loan”). On January 18, 2022, CF Securities, Satellogic and Nettar entered into the Promissory Note Waiver Letter (the “Promissory Note Waiver Letter”) pursuant to which Satellogic and CF Securities agreed that the Company would repay the Cantor Loan, including all principal and interest by the issuance of 788,021 Class A ordinary shares. Such repayment occurred on the Closing Date.

Redeemable Series X Preferred Stock

Per the transaction, the 2,033,230 outstanding shares of redeemable Series X preferred stock and accrued dividends in the combined amount of $21.4 million were converted to 2,140,340 shares of Class A common stock.

Liberty Investment

On January 18, 2022, Satellogic and CF V entered into the Liberty Subscription Agreement with an investor (the “Liberty Investor”). Satellogic agreed to issue and sell to the Liberty Investor (i) 20,000,000 shares of Class A ordinary shares, (ii) a warrant to purchase up to 5,000,000 of Satellogic’s Class A ordinary shares at an exercise price of $10.00 per share (the “$10.00 Liberty Warrant”), and (iii) a warrant to purchase up to 15,000,000 of Satellogic’s Class A ordinary shares at an exercise price of $15.00 per share (the “$15.00 Liberty Warrant,” and together with the $10.00 Liberty Warrant, the “Liberty Warrants”), in a private placement for an aggregate purchase price of $150.0 million. The transaction closed on February 10, 2022 (the “Liberty Closing” and the transaction collectively, the “Liberty Investment”).

An advisory fee is payable by Satellogic in exchange for advisory services to be provided to Satellogic from time to time until a Cessation Event (as defined in the Liberty Subscription Agreement). The advisory fee includes a warrant to purchase 2,500,000 of Satellogic’s Class A ordinary shares at an exercise price of $10.00 per share (the “Liberty Advisory Fee Warrant”), which was issued at the Liberty Closing, and for so long as a Cessation Event has not occurred, $1.25 million to be paid in cash on the 18-month anniversary of the Liberty Closing and on the last day (or, if not a business day, the immediately following business day) of each of the following five successive three-month anniversaries of such 18-month anniversary (each, an “Advisory Fee Cash Payment” and together, the “Advisory Fee Cash Payments”), representing an aggregate of up to $7.5 million in Advisory Fee Cash Payments.

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The Liberty Advisory Fee Warrant became exercisable as of and from February 10, 2023, and will expire on the fifth anniversary of the Liberty Closing (i.e., February 10, 2027). The Liberty Advisory Fee Warrant is subject to substantially the same terms as the Liberty Warrants.

Transaction Fees

On January 18, 2022, CF V, the Company and CF&Co. entered into the CF Fee Letter, pursuant to which they agreed to pay cash of $5.0 million and issue an aggregate of 2,058,229 of Satellogic’s Class A ordinary shares in payment of certain Merger-related transaction fees. Such payments were made on the Closing Date.

Company Stockholders

In connection with the Merger Transaction:

•the ordinary shares and preferred shares of Nettar that were issued and outstanding immediately prior to the Merger were automatically cancelled and ceased to exist in exchange for Satellogic’s Class A ordinary shares, as determined in accordance with the Merger Agreement;

•all Convertible Notes of Nettar converted into Nettar Preferred Shares which were exchanged for shares of Satellogic’s Class A ordinary shares as determined in the Merger Agreement;

•all options to purchase ordinary shares of Nettar were assumed by the Company and became options to purchase Satellogic’s Class A ordinary shares as determined in accordance with the Merger Agreement;

•the Columbia Warrant (as defined below) outstanding immediately prior to the Merger became exercisable for that number of Satellogic’s Class A ordinary shares as determined in accordance with the Merger Agreement.

The following table illustrates the shares issued to our stockholders after giving effect to the 3.3028 Exchange Ratio in accordance with the transactions contemplated by the Merger Agreement as of the Closing Date and the issuance of shares pursuant to the transactions described above:

Company stockholders			Shares
Class A stockholders immediately prior to merger			17,215,336
Series A preferred stockholders			7,968,316
Series B preferred stockholders			4,597,928
Series B-1 preferred stockholders			2,171,399
2018 convertible noteholders			5,581,416
2019 convertible noteholders			7,846,333
2020 convertible noteholders			4,553,205
Redeemable Series X preferred stockholders			2,140,340
Liberty investors			20,000,000
PIPE investors			5,816,770
Shares issued for Cantor loan repayment			788,021
Shares issued to Sponsor under Forward Purchase Securities Agreement			1,250,000
Issuance of shares for transaction fees			2,058,229
CF V shares			6,837,354
			88,824,647

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During the six months ended June 30, 2023 and 2022, the Company recognized revenue of $3.2 million and $2.4 million as described below:

			Six Months Ended June 30,
			2023						2022
Revenue by timing
Over time			$	823					$	1,524
Point-in time			2,361						864
Total revenue			$	3,184					$	2,388

Information about the Company’s revenue by geography is as follows:

			Six Months Ended June 30,
			2023						2022
Revenue by geography (1)
Asia Pacific			$	269					$	1,525
Europe			993						—
North America			1,879						521
South America			43						342
Total revenue			$	3,184					$	2,388

(1)Revenue by geography is based on the geographical location of the customer.

Contract liabilities and Remaining Performance Obligations

Our contract liabilities consist of payments received from customers, or such consideration contractually due, in advance of providing the relevant satellite imagery or related service. Amounts included in Contract liabilities are as follows:

			June 30,						December 31,
			2023						2022
Non-current			$	1,000					$	1,000
Current			2,300						1,941
Total			$	3,300					$	2,941

During the six months ended June 30, 2023, we recognized revenue of $0.1 million that was included as a Contract liability as of December 31, 2022. During the six months ended June 30, 2022, we recognized revenue of $0.5 million that was included as a Contract liability as of December 31, 2021.

A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following table represents the total transaction price for the remaining performance obligations as of June 30, 2023 related to non-cancellable contracts longer than 12-months in duration that is expected to be recognized over future periods.

			Within 1 Year						Years 1-2						Years 2-3						Thereafter
Remaining performance obligations			$	4,714					$	11,889					$	3,000					$	—

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			Liberty Warrants and Liberty Advisory Fee Warrant						PIPE Warrant						$8.63 Warrants						Total Warrants
As of December 31, 2022			$	6,191					$	311					$	1,833					$	8,335
Warrants issued			$	—					$	—					$	—					$	—
Change in fair value of financial instruments			(3,852)						(202)						(677)						(4,731)
As of June 30, 2023			$	2,339					$	109					$	1,156					$	3,604

Liberty Warrants and Liberty Advisory Fee Warrant

The Liberty Warrants and the Liberty Advisory Fee Warrant were initially recognized as a liability with a fair value of $30.9 million. The Liberty Warrants and the Liberty Advisory Fee Warrant remain unexercised and were remeasured to fair value of $2.3 million as of June 30, 2023.

PIPE Warrant

The PIPE Warrant was initially recognized as a liability with a fair value of $1.3 million. The PIPE Warrant remains unexercised and was remeasured to fair value of $0.1 million as of June 30, 2023.

$8.63 Warrants

In connection with the Merger, we entered into an Assignment, Assumption and Amendment Agreement (the “Amended Warrant Agreement”), dated January 25, 2022 with the Sponsor and CF V that amends the Warrant Agreement (the “Existing Warrant Agreement”), dated January 28, 2021.

Pursuant to the Existing Warrant Agreement we issued Public Warrants to purchase 8,333,333 Class A ordinary shares and 200,000 Private Placement Warrants. Additionally, we agreed to issue the Forward Purchase Warrant to purchase 333,333 Class A ordinary shares pursuant to the Amended and Restated Forward Purchase Agreement (together, with the Public Warrants and the Private Placement Warrants, the “$8.63 Warrants”).

All of the $8.63 Warrants are governed by the Existing Warrant Agreement. The $8.63 Warrants became exercisable 30 days after the Closing Date, or February 25, 2022, and will expire five years after the Closing Date (January 25, 2027), or earlier upon redemption or liquidation.

The $8.63 Warrants were initially recognized as a liability with a fair value of $4.9 million. On April 1, 2022, we determined pursuant to a warrant agreement executed by CF V on January 28, 2021, as modified and assumed by an assignment and assumption agreement executed on January 25, 2022, that the warrant price with respect to the warrants issued and outstanding was adjusted from $11.50 to $8.63 and the redemption price was adjusted from $18.00 to $13.50.

Public Warrants to purchase 613,111 shares of Class A ordinary shares were exercised during the six months ended June 30, 2022.

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			Sponsor Earnout
As of December 31, 2022			$	1,353
Change in fair value of financial instruments			(849)
As of June 30, 2023			$	504

Sponsor Earnout

Pursuant to that certain Sponsor Support Agreement, dated as of July 5, 2021, by and among us, the Sponsor and Nettar, the Sponsor has agreed that during the period between the Closing and the five-year anniversary of the Closing, the Sponsor shall not sell, transfer or otherwise dispose of Class A ordinary shares equal to 1,869,000 less 30% of Forfeiture Escrow Shares retired and cancelled (“Sponsor Earnout”). The Sponsor Earnout is subject to potential forfeiture to us for no consideration until the occurrence of each tranche’s respective earnout triggering event. The earnout triggering events related to achieving a closing price at or above $12.50, $15.00 and $20.00 per share, respectively, for any 10 trading days over a 20 trading day period were not satisfied during the six months ended June 30, 2023. As a result, the 1,775,962 Class A ordinary shares were not vested and are subject to transfer restrictions and contingent forfeiture provisions.

The estimated fair value of the Sponsor Earnout liability is based on a Monte Carlo simulation valuation model using a distribution of potential outcomes on a semi-annual basis over the earnout period, using the most reliable information available. Assumptions used in the valuation are as follows:

						June 30, 2023						December 31, 2022
Expected term (in years)						3.57						4.07
Dividend yield (%)						—		%				—		%
Expected volatility						56.7		%				50.4		%
Risk-free interest rate						4.4		%				4.1		%
Expected number of shares						1,775,962						1,775,962

Forfeiture Earnout

In connection with the closing of the Merger (the “Closing”), we delivered 310,127 shares of our Class A ordinary shares to an escrow account (“Forfeiture Escrow Shares”). The Forfeiture Escrow Shares were held in escrow for a 30-day adjustment period subsequent to the Closing Date, subject to forfeiture, depending on the VWAP. If the VWAP during the adjustment period was $10.00 or more, all Forfeiture Escrow Shares would be released. For the five-year period following the adjustment period, if the closing price of the shares on the principal exchange or securities market on which such securities are listed or quoted is at or above $15.00 for 10 out of 20 trading days, which do not have to be consecutive, the stockholders will have the right to receive their respective portions of shares back.

The shares were forfeited because the VWAP was below $10.00. The Forfeiture Earnout was initially recognized as a liability with a fair value of $6.1 million. The liability was remeasured to a fair value of $1.0 million at the end of the adjustment period and reclassified as an equity instrument.

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Property and equipment, net consists of the following:

			Estimated Useful Life (in years)						June 30, 2023						December 31, 2022
Satellites and other equipment			3-5						$	68,309					$	54,370
Satellites under construction			Not applicable						13,911						22,194
Leasehold improvements			5-10						7,325						6,433
Other property and equipment			3-10						4,258						4,146
Total property and equipment									93,803						87,143
Less: Accumulated depreciation									(48,040)						(39,162)
Property and equipment, net									$	45,763					$	47,981

Information related to the Company’s property and equipment and operating lease ROU assets by geography is as follows:

			June 30, 2023						December 31, 2022
Uruguay			$	41,601					$	43,134
Argentina			1,082						1,346
Spain			881						729
Netherlands			11,330						9,471
Other countries			779						1,472
Total (1) (2) (3)			$	55,673					$	56,152

(1)Non-current assets include property and equipment, net and operating lease right-of-use assets.

(2)Presentation in the table is based on the geographic location of the entity that holds the assets.

(3)We do not have any non-current assets in the country of incorporation of the holding company.

Prepaid Expenses and Other Current Assets

			June 30,						December 31,
			2023						2022
Prepaid expenses and other current assets
Prepaid expenses			$	3,404					$	1,767
Advances to suppliers			305						588
Other current assets			329						843
Total			$	4,038					$	3,198

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Accrued Expenses and Other Liabilities

			June 30,						December 31,
			2023						2022
Accrued expenses and other liabilities
Provisions			68						71
Payroll and benefits payable			3,429						3,289
Other taxes payable			3,337						3,128
Other			446						451
Total			$	7,280					$	6,939
Total current			$	6,766					$	6,417
Total non-current			$	514					$	522

Finance Costs, net

			Six Months Ended June 30,
			2023						2022
Finance income (expense), net
Interest expense			$	(3)					$	(1,588)
Redeemable Series X preferred stock dividends			—						(97)
Other finance costs			(65)						(70)
Interest income			1,150						149
Total			$	1,082					$	(1,606)

The Company is incorporated in the BVI. The BVI does not impose corporate income taxes. Our operations are conducted through various subsidiaries in a number of countries throughout the world with significant operations in Uruguay, where we operate in a free trade zone. Consequently, income tax has been provided based on the laws and rates in effect in the countries in which operations are conducted or in which our subsidiaries are considered resident for corporate income tax purposes, including Argentina, China, Israel, the Netherlands, Spain, Uruguay, and the United States.

The components of income tax expense were as follows:

			Six Months Ended June 30,
			2023						2022
Loss before income tax			$	(27,727)					$	(5,978)
Provision for income tax			$	2,124					$	2,143
Effective tax rate			(7.7		%)				(35.9		%)

Our effective tax rate for the six months ended June 30, 2023 differs from the BVI statutory rate of 0%. We maintain the exception under ASC 740-270-30-36(b), Accounting for Income Taxes, for jurisdictions that do not have reliable estimates of income. We have used a year-to-date methodology to determine the effective tax rate for the six months ended June 30, 2023 and 2022.

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The Company recognizes uncertain income tax positions when it is not more-likely-than-not a tax position will be sustained upon examination. As of June 30, 2023, the Company has recognized uncertain tax positions related to positions taken in Argentina and Spain. If necessary, the Company accrues interest and penalties related to uncertain tax positions as a component of the income tax provision.

A reconciliation of the beginning and ending amounts of our gross unrecognized tax benefits is as follows:

			Six Months Ended June
			2023
Balance at January 1, 2023			$	3,889
Increases (decreases) in tax positions related to prior periods			(1,150)
Balance at June 30, 2023			$	2,739

The Company believes that it is reasonably possible that a decrease of up to $0.2 million in unrecognized tax benefits related to foreign exposures may be necessary within the coming year.

Reverse Recapitalization

The Condensed Consolidated Statements of Redeemable Preferred Stock and Stockholders’ Equity reflect the Merger and reverse recapitalization as of January 2022 as discussed in Note 4 (Reverse Recapitalization). Since it was determined that Satellogic Inc. was the accounting acquirer in the reverse recapitalization, all periods prior to the consummation of the Merger reflect the balances and activity of Satellogic Inc. (other than shares which were retroactively restated in connection with the Merger).

Preferred Stock

Prior to the Merger, the Company’s authorized and issued preferred stock consisted of the following:

			Authorized Shares (prior to Merger)						Issued and Outstanding Shares (as of December 31, 2021)
Series A preferred stock			4,723,330						2,547,330
Series B preferred stock			3,117,915						1,392,131
Series B-1 preferred stock			899,153						672,524
Total preferred stock			8,740,398						4,611,985

In connection with the Merger, all shares of preferred stock were converted to shares of Class A ordinary shares.

Preferred Stockholder Transaction

In March 2021, we signed an Exchange Agreement (the “Exchange Agreement”) in conjunction with a Loan and Security Agreement and warrant with Columbia River Investment Limited, a holder of preferred stock and

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convertible notes (the “Investor”), requiring the Investor to sell back to us all its outstanding shares and Notes debt (as part of the sale of such notes to Nettar Group Inc.

The Columbia Warrant was initially recognized as a liability. The fair value of the Columbia Warrant was reclassified to additional paid-in capital in connection with the Merger.

Common Stock

We are authorized to issue unlimited Class A ordinary shares with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. As of June 30, 2023, there were 76,078,888 shares of Class A common stock issued and outstanding.

In addition, we are authorized to issue unlimited shares of Class B ordinary shares with a par value of $0.0001 per share. Holders of Class B ordinary shares are entitled to 1.472467906 votes per share. Satellogic’s founder and Chief Executive Officer owns 13,582,642 Class B ordinary shares, representing 100% of the voting power of the Class B ordinary shares and 20.8% of the voting power of Satellogic’s common stock.

Holders of Class B ordinary shares have a number of votes per share equal to the number of votes controlled by the Liberty Investor. Class B ordinary shares will automatically convert to Class A ordinary shares at the five-year anniversary of the Closing Date unless otherwise converted, generally at the holder’s option.

Treasury Stock

On February 14, 2022, our board of directors approved an initial $5 million share repurchase program. Repurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the timing of repurchases depending on market conditions.

We repurchased 516,123 Class A ordinary shares for $2.7 million during the six months ended June 30, 2022. The Company did not repurchase any shares during the six months ended June 30, 2023.

Hannover Holdings Transaction

Our employees, including senior executives, receive incentives in the form of stock options and RSUs, whereby employees render services as consideration for equity instruments (equity-settled transactions).

On the Closing Date, we established the 2021 Incentive Compensation Plan (the “2021 Plan”) under which RSUs were issued. The 2021 Plan provides for grant of options, stock appreciation rights, restricted stock awards, RSUs, shares granted as a bonus or in lieu of another award, dividend equivalents, or other stock-based awards or performance awards at the discretion of a board-elected committee. We also maintain our 2015 Share Plan as amended (the “2015 Plan”) under which stock-based awards were issued or modified. The options were typically granted for a four-year vesting term and have a maximum term of 10 years. As of December 31, 2022, no further awards have or shall be granted under the 2015 Share Plan. There were no options granted during the six months ended June 30, 2023 or 2022. the direct allocation as well as the sale of shares and the granting of

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options for the purchase of shares, at the discretion of the Company’s board of directors, to certain employees, advisors and/or independent directors.

A summary of stock option activity for the six months ended June 30, 2023 was as follows:

			Number of Options						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (years)						Intrinsic Value (in thousands)
Balance as of December 31, 2022			6,067,313						$1.83						2.07
Forfeited			(277,807)						3.64
Exercised			(105,681)						1.14
Expired			(160,553)						2.34
Outstanding at June 30, 2023			5,523,272						$1.70						1.87						$	4,639
Exercisable at June 30, 2023			4,487,977						$1.32						1.77						$	4,215

As further detailed in Note 4 (Reverse Recapitalization), all options to purchase the predecessor ordinary shares were assumed by Satellogic Inc., the new listed company, and became options to purchase Class A ordinary shares of Satellogic Inc., as determined in accordance with the Merger Agreement. There were no other material cancellations or modifications to the granted awards for the six months ended June 30, 2023 and 2022. Exercises are net of 34,000 options that are reflected as forfeitures, which were forfeited for payment of payroll taxes.

A summary of RSU activity for the six months ended June 30, 2023 is as follows:

			Number of RSUs						Intrinsic value (in thousands)
Outstanding unvested RSUs at December 31, 2022			1,459,280
Granted during the year			299,577
Forfeited during the year			(331,472)
Vested during the year			(366,553)
Outstanding unvested RSUs at June 30, 2023			1,060,832						$	2,079

The weighted-average grant-date price of RSUs at June 30, 2023 was $3.56. The number of shares vested is net of and total forfeitures includes 60,416 RSUs forfeited for payment of withholding taxes. There were 6,141 RSUs that vested in 2023 but were not yet issued as ordinary shares as of June 30, 2023.

As of June 30, 2023, unrecognized stock-based compensation cost related to outstanding options and RSUs that are expected to vest was $1.5 million and $2.5 million, respectively, which is expected to be recognized over a weighted-average period of 1.0 year and 1.75 years, respectively.

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Stock-based Compensation Expense

Total employee and non-employee stock-based compensation expense for the six months ended June 30, 2023 and 2022 was classified in the Condensed Consolidated Statements of Operations and Comprehensive Loss as follows:

			Six Months Ended June 30,
			2023						2022
General and administrative expenses			$	1,830					$	1,686
Research and development expenses			621						972
Other operating expenses			390						1,827
Total			$	2,841					$	4,485

Reverse Recapitalization

The redeemable Series X preferred stock, par value of $0.00001, carried an annual 7% cumulative dividend, payable upon a liquidation, dissolution, winding up or, upon the election of the stockholders, upon redemption. Due to the contractual provisions of the redeemable Series X preferred stock, the Series X preferred stock was accounted for as mezzanine equity.

Upon the closing of the Merger (“Closing”), we cancelled and converted all 2,033,230 shares of issued and outstanding redeemable Series X preferred stock and preferred dividends amounting to $21.4 million into 2,140,340 shares of Satellogic Class A ordinary shares, based on the conversion price of $10.00 per share, at the time the Merger became effective.

As of June 30, 2023, there were no issued and outstanding shares of redeemable Series X preferred stock.

The weighted-average number of shares of common stock outstanding prior to the Merger have been retroactively adjusted by the Exchange Ratio of 3.3028 (“Exchange Ratio”) to give effect to the reverse recapitalization treatment of the Merger. Shares of common stock issued as a result of redeemable Series X preferred stock and the conversion of shares of preferred stock outstanding pre-Merger in connection with the Closing have been included in the basic net loss per share calculation on a prospective basis.

Diluted loss per share considers the impact of potentially dilutive securities. We identified financial instruments that qualify as potential common shares: (i) the share-based options awards described in Note 12 (Stock-based Compensation), (ii) the warrants described in Note 6 (Warrant Liabilities), and (iii) the earnout liabilities described in Note 7 (Earnout Liabilities). With the exception of the Columbia Warrant in 2022, each of these potential common shares are antidilutive for both periods since their conversion to common shares would decrease loss per share from continuing operations.

The Columbia Warrant was dilutive due to the change in fair value of financial instruments during the six months ended June 30, 2022.

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Basic and diluted net loss per share attributable to common stockholders is calculated as follows:

			Six Months Ended June 30,
			2023						2022
Net loss attributable to common stockholders			$	(29,851)					$	(8,121)
Basic weighted-average common shares outstanding (1)			89,326,172						62,094,383
Basic net loss per share for the period attributable to common stockholders			$	(0.33)					$	(0.13)
Effect of dilutive securities:
Adjustment to numerator - Change in fair value of Columbia Warrant liability			$	—					$	(18,635)
Dilutive numerator			$	(29,851)					$	(26,756)
Columbia Warrant			—						1,410,657
Diluted weighted-average common shares outstanding			89,326,172						63,505,040
Diluted net loss per share for the period attributable to common stockholders			$	(0.33)					$	(0.42)

1 After applying the 3.3028 Exchange Ratio as described in Note 4 (Reverse Recapitalization).

The following tables provide the fair value measurement hierarchy of the Company’s assets and liabilities:

As of June 30, 2023						Fair value measurement using
Financial instruments						Quoted prices in active markets (Level 1)						Significant observable inputs (Level 2)						Significant unobservable inputs (Level 3)
$8.63 Warrants liability						$	1,156					$	—					$	—
PIPE Warrant liability						—						—						109
Liberty Warrants and Liberty Advisory Fee Warrant liability						—						—						2,339
Total Warrant Liabilities						$	1,156					$	—					$	2,448
Sponsor Earnout Liability						$	—					$	—					$	504
As of December 31, 2022						Fair value measurement using
Financial instruments						Quoted prices in active markets (Level 1)						Significant observable inputs (Level 2)						Significant unobservable inputs (Level 3)
$8.63 Warrants liability						$	1,833					$	—					$	—
PIPE Warrant liability						—						—						311
Liberty Warrants and Liberty Advisory Fee Warrant liability						—						—						6,191
Total Warrant Liabilities						$	1,833					$	—					$	6,502
Sponsor Earnout Liability						$	—					$	—					$	1,353

The following methods and assumptions were used to estimate the fair values:

•The carrying values of cash and cash equivalents, restricted cash, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses and other liabilities are considered to approximate their fair values due to the short term nature of these items.

•The fair values of the PIPE Warrant, the Liberty Warrants and Liberty Advisory Fee Warrant have been estimated using the Black-Scholes model. Significant unobservable inputs include:

◦Time to expiry - 3.6 years

◦Volatility - 57%

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◦Risk free rate of return: 4.4%

•The fair values of the Sponsor Earnout has been estimated using the Monte Carlo model. Significant unobservable inputs include:

◦Time to expiry - 3.6 years

◦Volatility - 57%

◦Risk free rate of return: 4.4%

•The fair values of the $8.63 Warrants were determined using quoted prices in the active warrant market. Significant unobservable inputs include:

◦Time to expiry - 3.6 years

◦Volatility - 52%

◦Risk free rate of return: 4.4%

•The carrying value of operating lease liabilities is calculated as the present value of lease payments, discounted at its incremental borrowing rate at the lease commencement date. We consider that the incremental borrowing rate remained unchanged, therefore the carrying amount of operating lease liabilities approximates their fair value.

•Changes in the fair value of Level 3 liabilities during the six months ended June 30, 2023 and 2022 were as follows:

			Liberty Warrants and Liberty Advisory Fee Warrant						PIPE Warrant						Columbia Warrant						Sponsor Earnout						Forfeiture Earnout						Cantor Loan
At January 1, 2022			$	—					$	—					$	143,237					$	—					$	—					$	7,522
Issues			30,853						1,312						—						8,022						6,135						—
Remeasurement (gain)/loss (1)			(15,476)						(360)						(18,635)						(4,911)						(5,130)						489
Write-off of deferred costs			—						—						203						—						—						—
Settlements (2)			—						—						(124,805)						—						(1,005)						(8,011)
At June 30, 2022			$	15,377					$	952					$	—					$	3,111					$	—					$	—
At January 1, 2023			$	6,191					$	311					$	—					$	1,353					$	—					$	—
Remeasurement (gain)/loss (1)			(3,852)						(202)						—						(849)						—						—
At June 30, 2023			$	2,339					$	109					$	—					$	504					$	—					$	—

(1)Recognized in the Condensed Consolidated Statements of Operations and Comprehensive Loss for the six months ended June 30, 2023 and 2022, respectively.

(2)These liabilities were settled in connection with the Merger. See Note 4 (Recapitalization Transaction).

There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2023 or 2022.

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We had convertible notes with certain related parties that were settled in connection with the Merger. See Note 4 (Reverse Recapitalization).

The following table provides the associated finance costs as follows:

			Six Months Ended June 30,
			2023						2022
Convertible notes from related parties
Interest expense on amounts owed to related parties			$	—					$	44

There are no sales or purchases transactions with entities which have significant influence over us or our key management personnel.

See description of transactions with CF&Co and Liberty Investment as part of the Merger Transaction described in Note 4 (Reverse Recapitalization).

We made purchases totaling $1.4 million from our equity method investee, OS, in the six months ended June 30, 2023 and there was $0.8 million owed to OS and included in accounts payable at June 30, 2023.

Contingencies

We may be named from time to time as a party to lawsuits arising in the ordinary course of business related to our sales, marketing, and the provision of our services and equipment. Litigation and contingency accruals are based on our assessment, including advice of legal counsel, regarding the expected outcome of litigation or other dispute resolution proceedings. If we determine that an unfavorable outcome is probable and can be reasonably assessed, we establish the necessary accruals. As of June 30, 2023 and December 31, 2022, we are not aware of any contingent liabilities that should be reflected in the Condensed Consolidated Financial Statements.

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v3.23.3

Cover	6 Months Ended
	Jun. 30, 2023
Cover [Abstract]
Document Type	6-K
Entity File Number	001-41247
Entity Registrant Name	Satellogic Inc.
Entity Address, Address Line One	Ruta 8 Km 17,500
Entity Address, Address Line Two	Edificio 300
Entity Address, Address Line Three	Oficina 324 Zonamérica
Entity Address, City or Town	Montevideo
Entity Address, Postal Zip Code	91600
Entity Address, Country	UY
Document Fiscal Period Focus	Q2
Amendment Flag	false
Document Fiscal Year Focus	2023
Entity Central Index Key	0001874315
Document Period End Date	Jun. 30, 2023
Current Fiscal Year End Date	--12-31

v3.23.3

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 3,184	$ 2,388
Costs and expenses
Cost of sales, exclusive of depreciation shown separately below	2,113	1,329
General and administrative expenses	9,867	24,609
Research and development	5,827	5,716
Depreciation expense	8,610	6,485
Other operating expenses	13,078	13,736
Total costs and expenses	39,495	51,875
Operating loss	(36,311)	(49,487)
Other income (expense), net
Finance income (expense), net	1,082	(1,606)
Change in fair value of financial instruments	5,580	44,596
Other income, net	1,922	519
Total other income (expense), net	8,584	43,509
Loss before income tax	(27,727)	(5,978)
Income tax expense	(2,124)	(2,143)
Net loss available to common stockholders	(29,851)	(8,121)
Other comprehensive loss
Foreign currency translation gain (loss), net of tax	76	(322)
Comprehensive loss	$ (29,775)	$ (8,443)
Basic and diluted earnings per share
Basic net loss per share for the period attributable to common stockholders (in usd per share)	$ (0.33)	$ (0.13)
Basic weighted-average common shares outstanding (in shares)	89,326,172	62,094,383
Diluted net loss per share for the period attributable to common stockholders (in usd per share)	$ (0.33)	$ (0.42)
Diluted weighted-average common shares outstanding (in shares)	89,326,172	63,505,040

v3.23.3

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 41,978	$ 76,528
Restricted cash	0	126
Accounts receivable, net of allowance of $3,300 and $3,237, respectively	1,768	1,388
Prepaid expenses and other current assets	4,038	3,198
Total current assets	47,784	81,240
Property and equipment, net	45,763	47,981
Operating lease right-of-use assets	9,910	8,171
Other non-current assets	5,438	6,463
Total assets	108,895	143,855
Current liabilities
Accounts payable	4,611	9,850
Warrant liabilities	3,604	8,335
Earnout liabilities	504	1,353
Operating lease liabilities	1,985	2,176
Contract liabilities	2,300	1,941
Accrued expenses and other liabilities	6,766	6,417
Total current liabilities	19,770	30,072
Operating lease liabilities	8,366	6,063
Contract liabilities	1,000	1,000
Other non-current liabilities	514	522
Total liabilities	29,650	37,657
Commitments and contingencies (Note 17)
Stockholders' equity
Preferred stock, $0.0001 par value	0	0
Common stock, $0.0001 par value, unlimited shares authorized; 76,078,888 Class A shares issued and outstanding; and 13,582,642 Class B shares issued and outstanding as of June 30, 2023 and 75,612,795 Class A shares issued and outstanding and 13,582,642 Class B shares issued and outstanding as of December 31, 2022	0	0
Treasury stock, at cost: 516,123 shares at June 30, 2023, and 516,123 shares at December 31, 2022	(8,603)	(8,603)
Additional paid-in capital	340,750	337,928
Accumulated other comprehensive loss	(236)	(312)
Accumulated deficit	(252,666)	(222,815)
Total stockholders’ equity	79,245	106,198
Total liabilities, redeemable preferred stock and stockholders’ equity	$ 108,895	$ 143,855

v3.23.3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts receivable, allowance	$ 3,300	$ 3,237
Preferred stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Common stock, par value (in usd per share)	$ 0.0001	$ 0.0001
Treasury stock (in shares)	516,123	516,123
Common Class A
Common stock, par value (in usd per share)	$ 0.0001
Common stock, shares issued (in shares)	76,078,888	75,612,795
Common stock, shares outstanding (in shares)	76,078,888	75,612,795
Common Class B
Common stock, par value (in usd per share)	$ 0.0001
Common stock, shares issued (in shares)	13,582,642	13,582,642
Common stock, shares outstanding (in shares)	13,582,642	13,582,642

v3.23.3

CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Forward Purchase Contract Warrant	PIPE Warrant	Liberty Subscription Agreement	SPAC Public Warrants	Hannover	Shares issued for Cantor loan repayment	Convertible Debt	Preferred Stock	Preferred Stock Hannover	Common Stock	Common Stock Forward Purchase Contract Warrant	Common Stock PIPE Warrant	Common Stock Liberty Subscription Agreement	Common Stock SPAC Public Warrants	Common Stock Hannover	Common Stock Shares issued for Cantor loan repayment	Common Stock Convertible Debt	Additional paid-in capital	Additional paid-in capital Forward Purchase Contract Warrant	Additional paid-in capital PIPE Warrant	Additional paid-in capital Liberty Subscription Agreement	Additional paid-in capital SPAC Public Warrants	Additional paid-in capital Shares issued for Cantor loan repayment	Additional paid-in capital Convertible Debt	Treasury stock	Accumulated other comprehensive loss	Accumulated deficit
Beginning balance (in shares) at Dec. 31, 2021	2,033,230
Beginning balance at Dec. 31, 2021	$ 21,306
Increase (Decrease) in Temporary Equity [Roll Forward]
Redeemable Series X preferred stock accrued dividends	$ 97
Conversion of Series X preferred stock in connection with the reverse recapitalization (in shares)	(2,033,230)										(2,140,340)
Conversion of redeemable Series X preferred stock and accrued dividends in connection with the reverse recapitalization	$ (21,403)																		$ (21,403)
Ending balance at Jun. 30, 2022	$ 0
Ending balance (in shares) at Jun. 30, 2022	0
Beginning balance (in shares) at Dec. 31, 2021	4,611,985								4,611,985
Beginning balance (in shares) at Dec. 31, 2021											17,382,854
Beginning balance at Dec. 31, 2021	$ (260,738)																		96,471							$ (170,949)	$ (86)	$ (186,174)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Hannover Holdings Transaction (Note 11) (in shares)										(149,817)						(51,700)
Hannover Holdings Transaction (Note 11)						$ (5,853)
Merger Transaction and Reverse Recapitalization (in shares)									(4,462,168)		22,630,545
Merger transaction and Reverse Recapitalization	$ 5,145																		(165,804)							170,949
Stock issued during period, conversion of convertible securities (in shares)												1,250,000	6,108,332	20,619,835	613,111		788,021	17,980,954
Stock issued during period, conversion of convertible securities		$ 10,000	$ 47,430	$ 121,182	$ 5,628		$ 7,880	$ 64,051												$ 10,000	$ 47,430	$ 121,182	$ 5,628	$ 7,880	$ 64,051
Conversion of redeemable Series X preferred stock and accrued dividends in connection with the Reverse Recapitalization (in shares)	2,033,230										2,140,340
Conversion of redeemable Series X preferred stock and accrued dividends in connection with the reverse recapitalization	$ 21,403																		21,403
Reclassification of Columbia Warrant to equity	124,805																		124,805
Repayment of Columbia Loan	(3,418)																		(3,418)
Reclassification of Forfeiture Earnout Liability to equity	1,005																		1,005
Repurchase of shares (in shares)											(516,123)
Repurchase of shares	(2,750)																									(2,750)
Net loss	(8,121)																											(8,121)
Other comprehensive loss	(322)																										(322)
Issuance of additional shares related to Cantor Loan Earnout (in shares)																	26,050
Issuance of additional shares related to Cantor Loan Earnout							$ 167																	$ 167
Exercise of stock options (in shares)											21,927
Exercise of stock options	21																		21
Stock-based compensation	4,485																		4,485
Ending balance (in shares) at Jun. 30, 2022									0
Ending balance (in shares) at Jun. 30, 2022											88,994,146
Ending balance at Jun. 30, 2022	$ 132,000																		335,306							(8,603)	(408)	(194,295)
Beginning balance (in shares) at Jan. 24, 2022	17,215,336
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of additional shares related to Cantor Loan Earnout (in shares)		1,250,000
Ending balance (in shares) at Jan. 25, 2022	88,824,647
Beginning balance (in shares) at Dec. 31, 2022									0
Beginning balance (in shares) at Dec. 31, 2022											89,195,437
Beginning balance at Dec. 31, 2022	$ 106,198																		337,928							(8,603)	(312)	(222,815)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchase of shares (in shares)											0
Net loss	(29,851)																											(29,851)
Other comprehensive loss	$ 76																										76
Exercise of stock options (in shares)	105,681										105,681
Exercise of stock options	$ 200																		200
Withholding tax on stock-based compensation	(219)																		(219)
Stock-based compensation (in shares)											360,412
Stock-based compensation	2,841																		2,841
Ending balance (in shares) at Jun. 30, 2023									0
Ending balance (in shares) at Jun. 30, 2023											89,661,530
Ending balance at Jun. 30, 2023	$ 79,245																		$ 340,750							$ (8,603)	$ (236)	$ (252,666)

v3.23.3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (29,851)	$ (8,121)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	8,610	6,485
Operating lease expense	1,405	857
Deferred tax expense	0	2,143
Stock-based compensation	2,841	4,485
Interest expense	0	1,685
Change in fair value of financial instruments	(5,580)	(44,596)
Expenses related to Merger	0	10,937
Foreign exchange differences	(2,909)	(2,363)
Loss on disposal of property and equipment	376	440
Bad debt expense	63	1,456
Loss on equity-method investment	43	0
Changes in operating assets and liabilities:
Accounts receivable	(303)	(1,647)
Prepaid expenses and other current assets	168	(4,367)
Accounts payable	(2,221)	280
Contract liabilities	359	1,719
Accrued expenses and other liabilities	1,691	(3,050)
Operating lease liabilities	(1,005)	(830)
Net cash used in operating activities	(26,313)	(34,487)
Cash flows from investing activities:
Acquisitions of property and equipment	(9,928)	(15,735)
Other	0	53
Net cash used in investing activities	(9,928)	(15,682)
Cash flows from financing activities:
Repurchase of stock	0	(8,603)
Tax withholding payments for vested equity-based compensation awards	(219)	0
Proceeds from exercise of Public Warrants	0	5,292
Proceeds from sale of common stock	0	167,504
Proceeds from exercise of stock options	200	21
Net cash (used in) provided by financing activities	(19)	164,214
Net (decrease) increase in cash, cash equivalents and restricted cash	(36,260)	114,045
Effect of foreign exchange rate changes	1,594	1,722
Cash, cash equivalents and restricted cash - beginning of period	77,792	8,533
Cash, cash equivalents and restricted cash - end of period	$ 43,126	$ 124,300

v3.23.3

Nature of the Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business and Basis of Presentation	Nature of the Business and Basis of Presentation Nature of the Business On January 25, 2022 (the “Closing Date”), Satellogic Inc. (“Satellogic” or the “Company”), a business company incorporated in the British Virgin Islands (“BVI”), as a company limited by shares, consummated the transactions contemplated by the Agreement and Plan of Merger dated as of July 5, 2021 (the “Merger Agreement”), by and among the Company, CF Acquisition Corp. V, a Delaware corporation (“CF V” and now known as “Satellogic V Inc.”), Ganymede Merger Sub 1 Inc., a BVI business company incorporated in the BVI as a company limited by shares and a direct wholly owned subsidiary of the Company, Ganymede Merger Sub 2 Inc., a Delaware corporation wholly owned subsidiary of the Company, and Nettar. Nettar was, prior to the transaction, the holding company of the Satellogic group and was incorporated on October 7, 2014 under the laws of the BVI as a company limited by shares. The registered office of Satellogic is located at Kingston Chambers BOX 173 C/O Maples Corporate Services BVI LTD Road Town, Tortola D8 VG1110. References to “Nettar” contained herein refer to Nettar Group Inc. prior to the mergers, and references to “the Company,” “we,” “our,” “us” or “Satellogic” refer to Satellogic Inc. prior to the mergers and to the combined company following the mergers. Through our subsidiaries, we invest in the software, hardware, and optics of the aerospace industry focusing on satellite and image analytics technologies. Our strategy is to build a planetary scale analytics platform based on a proprietary satellite constellation with the capability to generate insights from images and information, with focus on multi-temporal analysis and high frequency of revisits. We also intend to leverage our ability to quickly build and launch high quality, sub-meter satellites at a low cost by selling satellites to certain key customers. Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The Company conducts business through one operating segment. The accompanying Condensed Consolidated Financial Statements include our accounts and those of our wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Condensed Consolidated Financial Statements are presented in United States dollars (hereinafter “U.S. dollars” or “$”). The accompanying Condensed Consolidated Financial Statements are unaudited and reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of the interim period financial statements. The results of operations for these interim periods are not necessarily indicative of the results of operations to be expected for any future period or the full fiscal year. Certain prior year amounts have been reclassified to conform to the current year presentation. Emerging Growth Company We are an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended (“the Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). The JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging grown company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. We have elected not to opt out of such extended transition period, which means that when a standard is issued or revised that has different application dates for public or private companies, we can adopt the new or revised standard at the time required for private companies to adopt such standard. The foregoing may make comparison of our financial statements with those of another public company difficult or impossible if such other public company is (i) not an emerging growth company or (ii) is an emerging growth company that has opted out of using the extended transition period, due to the potential differences in accounting standards used. Going Concern and Liquidity The accompanying unaudited condensed consolidated financial statements have been prepared assuming we will continue as a going concern. The going concern basis of presentation assumes that we will continue in operation one year after the date these unaudited condensed consolidated financial statements are issued, and we will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. Pursuant to the requirements of ASC Topic 205-40, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date these unaudited condensed consolidated interim financial statements are issued. This evaluation does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented or are not within control of the Company as of the date the unaudited condensed consolidated interim financial statements are issued. When substantial doubt exists, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the unaudited condensed consolidated interim financial statements are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the unaudited condensed consolidated interim financial statements are issued. We have evaluated whether there are any conditions and events, considered in the aggregate, that raise substantial doubt about our ability to continue as a going concern over the next twelve months through September 2024. Since inception, we have incurred significant operating losses and have an accumulated deficit of $252.7 million, with net cash used in operating activities of $26.3 million for the six months ended June 30, 2023. As of June 30, 2023, our existing sources of liquidity included cash and cash equivalents of $42.0 million. We believe that this current level of cash and cash equivalents are not sufficient to fund operations and capital expenditures to reach larger scale revenue generation from our product offerings. In order for us to proceed and reach larger scale revenue generation, we will need to raise additional funds through the issuance of additional equity, debt or both. Until such time that we can generate revenue sufficient to achieve profitability, we expect to finance our operations through equity or debt financings, which may not be available to us on the timing needed or on terms that we deem to be favorable. To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership interest of our stockholders may be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect the rights of common stockholders. Debt financing and equity financing, if available, may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making acquisitions or capital expenditures or declaring dividends. If we are unable to obtain sufficient financial resources, our business, financial condition and results of operations will be materially and adversely affected. There can be no assurance that we will be able to obtain the needed financing on acceptable terms or at all. In an effort to alleviate these conditions, we continue to seek and evaluate opportunities to raise additional capital through the issuance of equity or debt securities.As a result of these uncertainties, and notwithstanding our plans and efforts to date, there is substantial doubt about our ability to continue as a going concern for one year from the date of when these condensed consolidated interim financial statements are issued. If we are unable to raise additional capital as and when needed, or upon acceptable terms, such failure would have a significant negative impact on our financial condition. As such, these conditions raise substantial doubt about the Company’s ability to continue as a going concern.

v3.23.3

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions reflected in these Condensed Consolidated Financial Statements include, but are not limited to, revenue recognition; determination of useful lives of property and equipment; valuation of warrant liabilities, earnout liabilities, stock options; and determination of income tax. We evaluate our estimates and assumptions on an ongoing basis. Actual results could differ from those estimates and such differences may be material to the Condensed Consolidated Financial Statements. Revenue Recognition We recognize revenue in accordance with Topic 606, Revenue from contracts with customers. Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that we expect to receive in exchange for goods or services provided under such contracts. We apply the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) we satisfy each performance obligation. Our main revenue stream is from services. We recognize as revenues, the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied. Revenue is recognized ratably over the subscription period or at the point in time upon delivery. Our satellite imagery can be delivered to customers in two ways: either by providing access via our platform or via electronic delivery. The nature of our contracts does not currently give rise to variable consideration related to returns or refunds as those are not offered. We evaluate contracts with a minimum purchase commitment to determine whether we expect to be entitled to a breakage amount. We consider the requirements on constraining estimates variable consideration. The following factors are evaluated when assessing the increased likelihood of a significant revenue reversal: (i) the amount of consideration is highly susceptible to factors outside our influence or control (e.g., volatility in a market, judgment of action of third parties, weather conditions), (ii) uncertainty about the amount of consideration is not expected to be resolved for a long period of time, (iii) our experience with similar types of contracts is limited, or that experience has limited predictive value, (iv) we have a practice of either offering a broad range of price concessions or changing the payment terms and conditions of similar contracts in similar circumstances, and (v) the contract has a large number and broad range of possible consideration amounts. We exclude amounts collected on behalf of third parties, such as sales taxes, when determining transaction price. Contract liabilities consist of payments received from customers, or such consideration that is contractually due, in advance of providing the product or performing services. We generally do not enter into long-term financing arrangements or payment plans with customers. Although our business practice is not to enter into contracts with non-cash consideration, at times this may occur. In these instances, we determine the fair value of the non-cash consideration at contract inception and includes this value as part of the total arrangement consideration. In instances where we cannot reasonably estimate the fair value of the non-cash consideration, we will measure the consideration indirectly by reference to its stand-alone selling price of the goods promised to the customer in exchange for consideration. Fair Value Measurement Certain assets and liabilities are carried at fair value in accordance with U.S. GAAP. Valuation techniques used to measure fair value requires us to utilize observable and unobservable inputs. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Financial instruments carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: •Level 1: Quoted prices in active markets for identical assets or liabilities. •Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. •Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. Assets and liabilities recognized at fair value on a recurring basis in the Condensed Consolidated Financial Statements are re-assessed at the end of each reporting period to determine whether any transfers have occurred between levels in the hierarchy. For fair value disclosures, classes of assets and liabilities are based on the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy. Credit risk management Credit risk is the risk that a counterparty fails to discharge an obligation to us. We are exposed to credit risk from financial assets including cash, cash equivalents and restricted cash held at banks, trade and other receivables. The credit risk is managed based on our credit risk management policies and procedures. Credit risk of any entity doing business with us is systematically analyzed, including aspects of a qualitative nature. The measurement and assessment of our total exposure to credit risk covers all financial instruments involving any counterparty risk. The credit risk in respect of cash balances held with banks and deposits with banks are managed via diversification of bank deposits and are only with major reputable financial institutions. As our risk exposure is mainly influenced by the individual characteristics of each customer, we continuously analyze the creditworthiness of significant debtors. Accounts receivable are non-interest bearing and generally on terms of 30 to 90 days. As of June 30, 2023 two customers, accounted for 84% of accounts receivable, net of allowance. As of December 31, 2022, one customer accounted for 72% of our accounts receivable net of allowance. Two customers each accounted for more than 10% of our revenue totaling $2.6 million for the six months ended June 30, 2023 and $2.0 million for the six months ended June 30, 2022. The Company contracts with certain third-party service providers to launch satellites and others for cloud-based computing infrastructure. Service providers who provide these services are limited. The inability of launch service providers and cloud based computing providers to perform under their contracts with the Company could materially impact future operating results. Impairment of Assets We assess potential impairments to long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets or asset group. We performed an impairment test as of June 30, 2023 due to our net loss for the period and concluded that the asset group is not impaired. Estimates of future cash flows are highly subjective judgments based on management’s experience and knowledge of the Company's operations. These estimates can be significantly impacted by many factors, including changes in global economic conditions, operating costs, obsolescence of technology and competition. If estimates or underlying assumptions change in the future, we may be required to record impairment charges. If the fair value of an asset group is less than its carrying amount, then the carrying amount of the asset group would be reduced to its fair value. That reduction is an impairment loss that would be recognized in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Equity Method Investments We account for equity investments in which we have significant influence, but not a controlling financial interest, using the equity method of accounting. Under the equity method of accounting, investments are initially recorded at cost, less impairment, and subsequently adjusted to recognize our share of earnings or losses as a component of Other income (expense), net in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Our equity method investments are required to be reviewed for impairment when it is determined there may be an other-than-temporary loss in value. We have not recorded any impairment losses related to our equity method investments during the period ended June 30, 2023. Stock-Based Compensation We measure and recognize all stock-based compensation expense based on estimated fair values for all stock-based awards made to employees and non-employees. Compensation cost is recognized over the requisite service period for each separate tranche, as though each tranche of the award is, in substance, a separate award. The expense calculation includes estimated forfeiture rates, which have been developed based upon historical experience. The fair values for stock options are calculated using the Black-Scholes option pricing model using the following inputs: Expected term - The simplified method is used to calculate the expected term. Expected volatility - We determine the expected stock price volatility based on the historical volatilities of guideline companies from comparable industries. Expected dividend yield - We do not use a dividend rate due to the fact that we have never declared or paid cash dividends on the Company’s common stock and we do not anticipate doing so in the foreseeable future. Risk-free interest rate - We base our interest rate on a treasury instrument for which the term is commensurate with the maximum expected life of the stock options. The fair values for restricted stock units ("RSUs") with service-based vesting conditions are calculated based upon our closing stock price on the date of the grant. Foreign Currencies The financial position and results of operations of certain of our foreign subsidiaries are measured using the local currency as the functional currency. Revenues and expenses of these subsidiaries have been translated into U.S. dollars at average exchange rates prevailing during the period. Assets and liabilities of these subsidiaries have been translated at the exchange rates as of the balance sheet date. Translation gains and losses are recorded in accumulated other comprehensive loss. Aggregate foreign currency gains and losses, such as those resulting from the settlement of receivables or payables, foreign currency contracts and short-term intercompany advances in a currency other than the relevant subsidiary’s functional currency, are recorded currently in the Condensed Consolidated Statements of Operations and Comprehensive Loss (included in other income, net) and resulted in gains of $2.0 million and $0.5 million during the six-month periods ended June 30, 2023 and 2022, respectively. Leases We determines if a contract is a lease or contains a lease at inception. On the lease commencement date, we recognize a right-of-use (“ROU”) asset and lease liability related to operating type leases. The cost of ROU assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Operating lease liabilities are recorded based on the present value of the future lease fixed payments. In determining the present value of future lease payments, we use our incremental borrowing rate applicable to the economic environment and the duration of the lease based on the information available at the commencement date as the majority of leases do not provide an implicit rate. For real estate and equipment contracts, we generally account for the lease and non-lease components as a single lease component. In assessing the lease term, we include options to renew only when we are reasonably certain that such option(s) will be exercised; a determination which is at our sole discretion. Variable lease payments are recognized as expenses in the period incurred. For leases with an initial term of 12 months or less, we have elected to not record an ROU asset and lease liability. We record lease expense on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, beginning on the commencement date. We remeasure and reallocate the consideration in a lease when there is a modification of the lease that is not accounted for as a separate contract. The lease liability is remeasured when there is a change in the lease term or in the assessment of whether we will exercise a lease option. We assess ROU assets for impairment in accordance with our long-lived asset impairment policy. We account for lease agreements with contractually required lease and non-lease components on a combined basis. Lease payments made for cancellable leases, variable amounts that are not based on an observable index and lease agreements with an original duration of less than 12 months are recorded directly to lease expense. For the periods presented, the Company does not have any financing type leases. For the six months ended June 30, 2023 and 2022, lease expense was $1.3 million and $0.9 million, respectively. Lease obligations and right of use assets increased as of June 30, 2023 compared to December 31, 2022 due primarily to inflation adjustments to lease payments in certain facility leases, which were accounted for as lease modifications in the six months ended June 30, 2023. Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are stated at the amount owed by the customer, net of allowances for estimated doubtful accounts, discounts, returns and rebates. We measure the allowance for doubtful accounts based on the estimated loss. In calculating an allowance for doubtful accounts, we use our historical experience, external indicators and an aging method. We assess impairment of trade accounts receivable on a collective basis as they possess shared credit risk characteristics, which have been grouped based on customer industry type. The Company also considers account size in its groupings and the days past due in its analysis. Accounts are written off against the allowance account when they are determined to be no longer collectible. The following table shows the activity in the allowance for doubtful accounts for the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 2022 Allowance for doubtful accounts as of beginning of period $ 3,237  $ 1,794  Provision 63  1,456  Allowance for doubtful accounts as of end of period $ 3,300  $ 3,250  Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents include deposits in banks and short-term (original maturities of three months or less at the time of purchase), highly liquid investments that are readily convertible to known amounts of cash with a maturity of three months or less at the time of purchase. Restricted cash, including amounts in Other non-current assets, represents amounts pledged as guarantees for sales and lease agreements as contractually required. June 30, 2023 December 31, 2022 Cash and cash equivalents $ 41,978  $ 76,528  Restricted cash —  126  Restricted cash included in Other non-current assets 1,148  1,138  Total cash, cash equivalents and restricted cash $ 43,126  $ 77,792  Cash Flow Information Six Months Ended June 30, 2023 2022 Cash paid during the period for: Income tax, net of refunds $ 174  $ 415  Interest $ 3  $ 2,390

v3.23.3

Accounting Standards Updates (“ASU”)	6 Months Ended
	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards Updates (“ASU”)	Accounting Standards Updates (“ASU”) Accounting Standard Recently Adopted In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires entities to use a forward-looking approach based on current expected credit losses to estimate credit losses on certain types of financial instruments, including trade receivables, resulting in an earlier recognition of losses than under the current incurred loss approach, which requires waiting to recognize a loss until it is probable of being incurred. We adopted this guidance as of January 1, 2023. The impact of adopting this new guidance was not material to the consolidated financial statements.

v3.23.3

Reverse Recapitalization	6 Months Ended
	Jun. 30, 2023
Reverse Recapitalization [Abstract]
Reverse Recapitalization	Reverse Recapitalization On January 25, 2022 and pursuant to the Merger Agreement, the merger between the Company and CF V (the “Merger”) was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, CF V was treated as the “acquired” company and Satellogic was treated as the acquirer for financial reporting purposes. Accordingly, for accounting purposes, the reverse recapitalization was treated as the equivalent of the Company issuing stock for the net assets of CF V, accompanied by a recapitalization. The net assets of CF V were stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the Merger represent those of the Company. The transaction resulted in net cash proceeds of $168 million, after transaction expenses and debt repayment, through the contribution of cash held in CF V’s trust account, net of redemptions by CF V’s public stockholders, and a concurrent private placement offering led by SoftBank’s SBLA Advisers Corp. and Cantor Fitzgerald & Co. (“CF&Co.”), among other institutional investors, and the Liberty Investment, as defined and described further below. On the Closing Date, the Company consummated the Merger contemplated by the Merger Agreement, including the following: Private Placement (“PIPE”) Investment Pursuant to the relevant subscription agreement, the Company issued 5,816,770 Class A ordinary shares and a non-redeemable warrant (“PIPE Warrant”) to purchase 2,500,000 Class A ordinary shares to a PIPE investor at an exercise price of $20.00 per share, for an aggregate purchase price of $58.2 million. Forward Purchase Agreement In July 2021, CFAC Holdings V, LLC (the “Sponsor”), CF V, and Satellogic entered into the Amended and Restated Forward Purchase Agreement (“FPA”), pursuant to which Satellogic issued to the Sponsor 1,250,000 Class A ordinary shares, and warrants to purchase an additional 333,333 Class A ordinary shares at an exercise price of $11.50 per share (“Forward Purchase Warrant”), for an aggregate purchase price of $10 million. Cantor Loan Satellogic and Cantor Fitzgerald Securities (“CF Securities”) entered into a Secured Promissory Note, dated December 23, 2021 (the “Promissory Note”), pursuant to which CF Securities agreed to loan $7.5 million to Satellogic (the “Cantor Loan”). On January 18, 2022, CF Securities, Satellogic and Nettar entered into the Promissory Note Waiver Letter (the “Promissory Note Waiver Letter”) pursuant to which Satellogic and CF Securities agreed that the Company would repay the Cantor Loan, including all principal and interest by the issuance of 788,021 Class A ordinary shares. Such repayment occurred on the Closing Date. Redeemable Series X Preferred Stock Per the transaction, the 2,033,230 outstanding shares of redeemable Series X preferred stock and accrued dividends in the combined amount of $21.4 million were converted to 2,140,340 shares of Class A common stock. Liberty Investment On January 18, 2022, Satellogic and CF V entered into the Liberty Subscription Agreement with an investor (the “Liberty Investor”). Satellogic agreed to issue and sell to the Liberty Investor (i) 20,000,000 shares of Class A ordinary shares, (ii) a warrant to purchase up to 5,000,000 of Satellogic’s Class A ordinary shares at an exercise price of $10.00 per share (the “$10.00 Liberty Warrant”), and (iii) a warrant to purchase up to 15,000,000 of Satellogic’s Class A ordinary shares at an exercise price of $15.00 per share (the “$15.00 Liberty Warrant,” and together with the $10.00 Liberty Warrant, the “Liberty Warrants”), in a private placement for an aggregate purchase price of $150.0 million. The transaction closed on February 10, 2022 (the “Liberty Closing” and the transaction collectively, the “Liberty Investment”). An advisory fee is payable by Satellogic in exchange for advisory services to be provided to Satellogic from time to time until a Cessation Event (as defined in the Liberty Subscription Agreement). The advisory fee includes a warrant to purchase 2,500,000 of Satellogic’s Class A ordinary shares at an exercise price of $10.00 per share (the “Liberty Advisory Fee Warrant”), which was issued at the Liberty Closing, and for so long as a Cessation Event has not occurred, $1.25 million to be paid in cash on the 18-month anniversary of the Liberty Closing and on the last day (or, if not a business day, the immediately following business day) of each of the following five successive three-month anniversaries of such 18-month anniversary (each, an “Advisory Fee Cash Payment” and together, the “Advisory Fee Cash Payments”), representing an aggregate of up to $7.5 million in Advisory Fee Cash Payments. The Liberty Advisory Fee Warrant became exercisable as of and from February 10, 2023, and will expire on the fifth anniversary of the Liberty Closing (i.e., February 10, 2027). The Liberty Advisory Fee Warrant is subject to substantially the same terms as the Liberty Warrants. Transaction Fees On January 18, 2022, CF V, the Company and CF&Co. entered into the CF Fee Letter, pursuant to which they agreed to pay cash of $5.0 million and issue an aggregate of 2,058,229 of Satellogic’s Class A ordinary shares in payment of certain Merger-related transaction fees. Such payments were made on the Closing Date. Company Stockholders In connection with the Merger Transaction: •the ordinary shares and preferred shares of Nettar that were issued and outstanding immediately prior to the Merger were automatically cancelled and ceased to exist in exchange for Satellogic’s Class A ordinary shares, as determined in accordance with the Merger Agreement; •all Convertible Notes of Nettar converted into Nettar Preferred Shares which were exchanged for shares of Satellogic’s Class A ordinary shares as determined in the Merger Agreement; •all options to purchase ordinary shares of Nettar were assumed by the Company and became options to purchase Satellogic’s Class A ordinary shares as determined in accordance with the Merger Agreement; •the Columbia Warrant (as defined below) outstanding immediately prior to the Merger became exercisable for that number of Satellogic’s Class A ordinary shares as determined in accordance with the Merger Agreement. The following table illustrates the shares issued to our stockholders after giving effect to the 3.3028 Exchange Ratio in accordance with the transactions contemplated by the Merger Agreement as of the Closing Date and the issuance of shares pursuant to the transactions described above: Company stockholders Shares Class A stockholders immediately prior to merger 17,215,336 Series A preferred stockholders 7,968,316 Series B preferred stockholders 4,597,928 Series B-1 preferred stockholders 2,171,399 2018 convertible noteholders 5,581,416 2019 convertible noteholders 7,846,333 2020 convertible noteholders 4,553,205 Redeemable Series X preferred stockholders 2,140,340 Liberty investors 20,000,000 PIPE investors 5,816,770 Shares issued for Cantor loan repayment 788,021 Shares issued to Sponsor under Forward Purchase Securities Agreement 1,250,000 Issuance of shares for transaction fees 2,058,229 CF V shares 6,837,354 88,824,647

v3.23.3

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers During the six months ended June 30, 2023 and 2022, the Company recognized revenue of $3.2 million and $2.4 million as described below: Six Months Ended June 30, 2023 2022 Revenue by timing Over time $ 823  $ 1,524  Point-in time 2,361  864  Total revenue $ 3,184  $ 2,388  Information about the Company’s revenue by geography is as follows: Six Months Ended June 30, 2023 2022 Revenue by geography (1) Asia Pacific $ 269  $ 1,525  Europe 993  —  North America 1,879  521  South America 43  342  Total revenue $ 3,184  $ 2,388  (1)Revenue by geography is based on the geographical location of the customer. Contract liabilities and Remaining Performance Obligations Our contract liabilities consist of payments received from customers, or such consideration contractually due, in advance of providing the relevant satellite imagery or related service. Amounts included in Contract liabilities are as follows: June 30, December 31, 2023 2022 Non-current $ 1,000  $ 1,000  Current 2,300  1,941  Total $ 3,300  $ 2,941  During the six months ended June 30, 2023, we recognized revenue of $0.1 million that was included as a Contract liability as of December 31, 2022. During the six months ended June 30, 2022, we recognized revenue of $0.5 million that was included as a Contract liability as of December 31, 2021. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The following table represents the total transaction price for the remaining performance obligations as of June 30, 2023 related to non-cancellable contracts longer than 12-months in duration that is expected to be recognized over future periods. Within 1 Year Years 1-2 Years 2-3 Thereafter Remaining performance obligations $ 4,714  $ 11,889  $ 3,000  $ —

v3.23.3

Warrant Liabilities	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Warrant Liabilities	Warrant Liabilities Liberty Warrants and Liberty Advisory Fee Warrant PIPE Warrant $8.63 Warrants Total Warrants As of December 31, 2022 $ 6,191  $ 311  $ 1,833  $ 8,335  Warrants issued $ —  $ —  $ —  $ —  Change in fair value of financial instruments (3,852) (202) (677) (4,731) As of June 30, 2023 $ 2,339  $ 109  $ 1,156  $ 3,604  Liberty Warrants and Liberty Advisory Fee Warrant The Liberty Warrants and the Liberty Advisory Fee Warrant were initially recognized as a liability with a fair value of $30.9 million. The Liberty Warrants and the Liberty Advisory Fee Warrant remain unexercised and were remeasured to fair value of $2.3 million as of June 30, 2023. PIPE Warrant The PIPE Warrant was initially recognized as a liability with a fair value of $1.3 million. The PIPE Warrant remains unexercised and was remeasured to fair value of $0.1 million as of June 30, 2023. $8.63 Warrants In connection with the Merger, we entered into an Assignment, Assumption and Amendment Agreement (the “Amended Warrant Agreement”), dated January 25, 2022 with the Sponsor and CF V that amends the Warrant Agreement (the “Existing Warrant Agreement”), dated January 28, 2021. Pursuant to the Existing Warrant Agreement we issued Public Warrants to purchase 8,333,333 Class A ordinary shares and 200,000 Private Placement Warrants. Additionally, we agreed to issue the Forward Purchase Warrant to purchase 333,333 Class A ordinary shares pursuant to the Amended and Restated Forward Purchase Agreement (together, with the Public Warrants and the Private Placement Warrants, the “$8.63 Warrants”). All of the $8.63 Warrants are governed by the Existing Warrant Agreement. The $8.63 Warrants became exercisable 30 days after the Closing Date, or February 25, 2022, and will expire five years after the Closing Date (January 25, 2027), or earlier upon redemption or liquidation. The $8.63 Warrants were initially recognized as a liability with a fair value of $4.9 million. On April 1, 2022, we determined pursuant to a warrant agreement executed by CF V on January 28, 2021, as modified and assumed by an assignment and assumption agreement executed on January 25, 2022, that the warrant price with respect to the warrants issued and outstanding was adjusted from $11.50 to $8.63 and the redemption price was adjusted from $18.00 to $13.50. Public Warrants to purchase 613,111 shares of Class A ordinary shares were exercised during the six months ended June 30, 2022.

v3.23.3

Earnout Liabilities	6 Months Ended
	Jun. 30, 2023
Earnout Liability [Abstract]
Earnout Liabilities	Earnout Liabilities Sponsor Earnout As of December 31, 2022 $ 1,353  Change in fair value of financial instruments (849) As of June 30, 2023 $ 504  Sponsor Earnout Pursuant to that certain Sponsor Support Agreement, dated as of July 5, 2021, by and among us, the Sponsor and Nettar, the Sponsor has agreed that during the period between the Closing and the five-year anniversary of the Closing, the Sponsor shall not sell, transfer or otherwise dispose of Class A ordinary shares equal to 1,869,000 less 30% of Forfeiture Escrow Shares retired and cancelled (“Sponsor Earnout”). The Sponsor Earnout is subject to potential forfeiture to us for no consideration until the occurrence of each tranche’s respective earnout triggering event. The earnout triggering events related to achieving a closing price at or above $12.50, $15.00 and $20.00 per share, respectively, for any 10 trading days over a 20 trading day period were not satisfied during the six months ended June 30, 2023. As a result, the 1,775,962 Class A ordinary shares were not vested and are subject to transfer restrictions and contingent forfeiture provisions. The estimated fair value of the Sponsor Earnout liability is based on a Monte Carlo simulation valuation model using a distribution of potential outcomes on a semi-annual basis over the earnout period, using the most reliable information available. Assumptions used in the valuation are as follows: June 30, 2023 December 31, 2022 Expected term (in years) 3.57 4.07 Dividend yield (%) —  % —  % Expected volatility 56.7  % 50.4  % Risk-free interest rate 4.4  % 4.1  % Expected number of shares 1,775,962  1,775,962  Forfeiture Earnout In connection with the closing of the Merger (the “Closing”), we delivered 310,127 shares of our Class A ordinary shares to an escrow account (“Forfeiture Escrow Shares”). The Forfeiture Escrow Shares were held in escrow for a 30-day adjustment period subsequent to the Closing Date, subject to forfeiture, depending on the VWAP. If the VWAP during the adjustment period was $10.00 or more, all Forfeiture Escrow Shares would be released. For the five-year period following the adjustment period, if the closing price of the shares on the principal exchange or securities market on which such securities are listed or quoted is at or above $15.00 for 10 out of 20 trading days, which do not have to be consecutive, the stockholders will have the right to receive their respective portions of shares back. The shares were forfeited because the VWAP was below $10.00. The Forfeiture Earnout was initially recognized as a liability with a fair value of $6.1 million. The liability was remeasured to a fair value of $1.0 million at the end of the adjustment period and reclassified as an equity instrument.

v3.23.3

Property and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following: Estimated Useful Life (in years) June 30, 2023 December 31, 2022 Satellites and other equipment 3-5 $ 68,309  $ 54,370  Satellites under construction Not applicable 13,911  22,194  Leasehold improvements 5-10 7,325  6,433  Other property and equipment 3-10 4,258  4,146  Total property and equipment 93,803  87,143  Less: Accumulated depreciation (48,040) (39,162) Property and equipment, net $ 45,763  $ 47,981  Information related to the Company’s property and equipment and operating lease ROU assets by geography is as follows: June 30, 2023 December 31, 2022 Uruguay $ 41,601  $ 43,134  Argentina 1,082  1,346  Spain 881  729  Netherlands 11,330  9,471  Other countries 779  1,472  Total (1) (2) (3) $ 55,673  $ 56,152  (1)Non-current assets include property and equipment, net and operating lease right-of-use assets. (2)Presentation in the table is based on the geographic location of the entity that holds the assets. (3)We do not have any non-current assets in the country of incorporation of the holding company.

v3.23.3

Additional Financial Statement Information	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Additional Financial Statement Information	Additional Financial Statement Information Prepaid Expenses and Other Current Assets June 30, December 31, 2023 2022 Prepaid expenses and other current assets Prepaid expenses $ 3,404  $ 1,767  Advances to suppliers 305  588  Other current assets 329  843  Total $ 4,038  $ 3,198  Accrued Expenses and Other Liabilities June 30, December 31, 2023 2022 Accrued expenses and other liabilities Provisions 68  71  Payroll and benefits payable 3,429  3,289  Other taxes payable 3,337  3,128  Other 446  451  Total $ 7,280  $ 6,939  Total current $ 6,766  $ 6,417  Total non-current $ 514  $ 522  Finance Costs, net Six Months Ended June 30, 2023 2022 Finance income (expense), net Interest expense $ (3) $ (1,588) Redeemable Series X preferred stock dividends —  (97) Other finance costs (65) (70) Interest income 1,150  149  Total $ 1,082  $ (1,606)

v3.23.3

Income Tax	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax	Income Tax The Company is incorporated in the BVI. The BVI does not impose corporate income taxes. Our operations are conducted through various subsidiaries in a number of countries throughout the world with significant operations in Uruguay, where we operate in a free trade zone. Consequently, income tax has been provided based on the laws and rates in effect in the countries in which operations are conducted or in which our subsidiaries are considered resident for corporate income tax purposes, including Argentina, China, Israel, the Netherlands, Spain, Uruguay, and the United States. The components of income tax expense were as follows: Six Months Ended June 30, 2023 2022 Loss before income tax $ (27,727) $ (5,978) Provision for income tax $ 2,124  $ 2,143  Effective tax rate (7.7  %) (35.9  %) Our effective tax rate for the six months ended June 30, 2023 differs from the BVI statutory rate of 0%. We maintain the exception under ASC 740-270-30-36(b), Accounting for Income Taxes, for jurisdictions that do not have reliable estimates of income. We have used a year-to-date methodology to determine the effective tax rate for the six months ended June 30, 2023 and 2022. The Company recognizes uncertain income tax positions when it is not more-likely-than-not a tax position will be sustained upon examination. As of June 30, 2023, the Company has recognized uncertain tax positions related to positions taken in Argentina and Spain. If necessary, the Company accrues interest and penalties related to uncertain tax positions as a component of the income tax provision. A reconciliation of the beginning and ending amounts of our gross unrecognized tax benefits is as follows: Six Months Ended June 2023 Balance at January 1, 2023 $ 3,889  Increases (decreases) in tax positions related to prior periods (1,150) Balance at June 30, 2023 $ 2,739  The Company believes that it is reasonably possible that a decrease of up to $0.2 million in unrecognized tax benefits related to foreign exposures may be necessary within the coming year.

v3.23.3

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders’ Equity	Stockholders’ Equity Reverse Recapitalization The Condensed Consolidated Statements of Redeemable Preferred Stock and Stockholders’ Equity reflect the Merger and reverse recapitalization as of January 2022 as discussed in Note 4 (Reverse Recapitalization). Since it was determined that Satellogic Inc. was the accounting acquirer in the reverse recapitalization, all periods prior to the consummation of the Merger reflect the balances and activity of Satellogic Inc. (other than shares which were retroactively restated in connection with the Merger). Preferred Stock Prior to the Merger, the Company’s authorized and issued preferred stock consisted of the following: Authorized Shares (prior to Merger) Issued and Outstanding Shares (as of December 31, 2021) Series A preferred stock 4,723,330  2,547,330  Series B preferred stock 3,117,915  1,392,131  Series B-1 preferred stock 899,153  672,524  Total preferred stock 8,740,398  4,611,985  In connection with the Merger, all shares of preferred stock were converted to shares of Class A ordinary shares. Preferred Stockholder Transaction In March 2021, we signed an Exchange Agreement (the “Exchange Agreement”) in conjunction with a Loan and Security Agreement and warrant with Columbia River Investment Limited, a holder of preferred stock and convertible notes (the “Investor”), requiring the Investor to sell back to us all its outstanding shares and Notes debt (as part of the sale of such notes to Nettar Group Inc. The Columbia Warrant was initially recognized as a liability. The fair value of the Columbia Warrant was reclassified to additional paid-in capital in connection with the Merger. Common Stock We are authorized to issue unlimited Class A ordinary shares with a par value of $0.0001 per share. Holders of Class A ordinary shares are entitled to one vote for each share. As of June 30, 2023, there were 76,078,888 shares of Class A common stock issued and outstanding. In addition, we are authorized to issue unlimited shares of Class B ordinary shares with a par value of $0.0001 per share. Holders of Class B ordinary shares are entitled to 1.472467906 votes per share. Satellogic’s founder and Chief Executive Officer owns 13,582,642 Class B ordinary shares, representing 100% of the voting power of the Class B ordinary shares and 20.8% of the voting power of Satellogic’s common stock. Holders of Class B ordinary shares have a number of votes per share equal to the number of votes controlled by the Liberty Investor. Class B ordinary shares will automatically convert to Class A ordinary shares at the five-year anniversary of the Closing Date unless otherwise converted, generally at the holder’s option. Treasury Stock On February 14, 2022, our board of directors approved an initial $5 million share repurchase program. Repurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the timing of repurchases depending on market conditions. We repurchased 516,123 Class A ordinary shares for $2.7 million during the six months ended June 30, 2022. The Company did not repurchase any shares during the six months ended June 30, 2023. Hannover Holdings Transaction We repurchased 51,700 Class A ordinary shares, 134,735 shares of Series A preferred stock, and 15,082 shares of Series B-1 preferred stock from Hannover Holdings S.A. prior to the consummation of the Merger for an aggregate of $5.9 million (the “Hannover Holdings Transaction”).

v3.23.3

Stock-based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Our employees, including senior executives, receive incentives in the form of stock options and RSUs, whereby employees render services as consideration for equity instruments (equity-settled transactions). On the Closing Date, we established the 2021 Incentive Compensation Plan (the “2021 Plan”) under which RSUs were issued. The 2021 Plan provides for grant of options, stock appreciation rights, restricted stock awards, RSUs, shares granted as a bonus or in lieu of another award, dividend equivalents, or other stock-based awards or performance awards at the discretion of a board-elected committee. We also maintain our 2015 Share Plan as amended (the “2015 Plan”) under which stock-based awards were issued or modified. The options were typically granted for a four-year vesting term and have a maximum term of 10 years. As of December 31, 2022, no further awards have or shall be granted under the 2015 Share Plan. There were no options granted during the six months ended June 30, 2023 or 2022. the direct allocation as well as the sale of shares and the granting of options for the purchase of shares, at the discretion of the Company’s board of directors, to certain employees, advisors and/or independent directors. A summary of stock option activity for the six months ended June 30, 2023 was as follows: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Intrinsic Value (in thousands) Balance as of December 31, 2022 6,067,313 $1.83  2.07 Forfeited (277,807) 3.64  Exercised (105,681) 1.14  Expired (160,553) 2.34  Outstanding at June 30, 2023 5,523,272 $1.70  1.87 $ 4,639  Exercisable at June 30, 2023 4,487,977 $1.32  1.77 $ 4,215  As further detailed in Note 4 (Reverse Recapitalization), all options to purchase the predecessor ordinary shares were assumed by Satellogic Inc., the new listed company, and became options to purchase Class A ordinary shares of Satellogic Inc., as determined in accordance with the Merger Agreement. There were no other material cancellations or modifications to the granted awards for the six months ended June 30, 2023 and 2022. Exercises are net of 34,000 options that are reflected as forfeitures, which were forfeited for payment of payroll taxes. A summary of RSU activity for the six months ended June 30, 2023 is as follows: Number of RSUs Intrinsic value (in thousands) Outstanding unvested RSUs at December 31, 2022 1,459,280 Granted during the year 299,577 Forfeited during the year (331,472) Vested during the year (366,553) Outstanding unvested RSUs at June 30, 2023 1,060,832 $ 2,079  The weighted-average grant-date price of RSUs at June 30, 2023 was $3.56. The number of shares vested is net of and total forfeitures includes 60,416 RSUs forfeited for payment of withholding taxes. There were 6,141 RSUs that vested in 2023 but were not yet issued as ordinary shares as of June 30, 2023. As of June 30, 2023, unrecognized stock-based compensation cost related to outstanding options and RSUs that are expected to vest was $1.5 million and $2.5 million, respectively, which is expected to be recognized over a weighted-average period of 1.0 year and 1.75 years, respectively. Stock-based Compensation Expense Total employee and non-employee stock-based compensation expense for the six months ended June 30, 2023 and 2022 was classified in the Condensed Consolidated Statements of Operations and Comprehensive Loss as follows: Six Months Ended June 30, 2023 2022 General and administrative expenses $ 1,830  $ 1,686  Research and development expenses 621  972  Other operating expenses 390  1,827  Total $ 2,841  $ 4,485

v3.23.3

Redeemable Preferred Stock	6 Months Ended
	Jun. 30, 2023
Temporary Equity Disclosure [Abstract]
Redeemable Preferred Stock	Redeemable Preferred Stock Reverse Recapitalization The redeemable Series X preferred stock, par value of $0.00001, carried an annual 7% cumulative dividend, payable upon a liquidation, dissolution, winding up or, upon the election of the stockholders, upon redemption. Due to the contractual provisions of the redeemable Series X preferred stock, the Series X preferred stock was accounted for as mezzanine equity. Upon the closing of the Merger (“Closing”), we cancelled and converted all 2,033,230 shares of issued and outstanding redeemable Series X preferred stock and preferred dividends amounting to $21.4 million into 2,140,340 shares of Satellogic Class A ordinary shares, based on the conversion price of $10.00 per share, at the time the Merger became effective. As of June 30, 2023, there were no issued and outstanding shares of redeemable Series X preferred stock.

v3.23.3

Net Loss Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The weighted-average number of shares of common stock outstanding prior to the Merger have been retroactively adjusted by the Exchange Ratio of 3.3028 (“Exchange Ratio”) to give effect to the reverse recapitalization treatment of the Merger. Shares of common stock issued as a result of redeemable Series X preferred stock and the conversion of shares of preferred stock outstanding pre-Merger in connection with the Closing have been included in the basic net loss per share calculation on a prospective basis. Diluted loss per share considers the impact of potentially dilutive securities. We identified financial instruments that qualify as potential common shares: (i) the share-based options awards described in Note 12 (Stock-based Compensation), (ii) the warrants described in Note 6 (Warrant Liabilities), and (iii) the earnout liabilities described in Note 7 (Earnout Liabilities). With the exception of the Columbia Warrant in 2022, each of these potential common shares are antidilutive for both periods since their conversion to common shares would decrease loss per share from continuing operations. The Columbia Warrant was dilutive due to the change in fair value of financial instruments during the six months ended June 30, 2022. Basic and diluted net loss per share attributable to common stockholders is calculated as follows: Six Months Ended June 30, 2023 2022 Net loss attributable to common stockholders $ (29,851) $ (8,121) Basic weighted-average common shares outstanding (1) 89,326,172 62,094,383 Basic net loss per share for the period attributable to common stockholders $ (0.33) $ (0.13) Effect of dilutive securities: Adjustment to numerator - Change in fair value of Columbia Warrant liability $ —  $ (18,635) Dilutive numerator $ (29,851) $ (26,756) Columbia Warrant —  1,410,657 Diluted weighted-average common shares outstanding 89,326,172 63,505,040 Diluted net loss per share for the period attributable to common stockholders $ (0.33) $ (0.42) 1 After applying the 3.3028 Exchange Ratio as described in Note 4 (Reverse Recapitalization).

v3.23.3

Fair Value Measurements and Financial Instruments	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements and Financial Instruments	Fair Value Measurements and Financial Instruments The following tables provide the fair value measurement hierarchy of the Company’s assets and liabilities: As of June 30, 2023 Fair value measurement using Financial instruments Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) $8.63 Warrants liability $ 1,156  $ —  $ —  PIPE Warrant liability —  —  109  Liberty Warrants and Liberty Advisory Fee Warrant liability —  —  2,339  Total Warrant Liabilities $ 1,156  $ —  $ 2,448  Sponsor Earnout Liability $ —  $ —  $ 504  As of December 31, 2022 Fair value measurement using Financial instruments Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) $8.63 Warrants liability $ 1,833  $ —  $ —  PIPE Warrant liability —  —  311  Liberty Warrants and Liberty Advisory Fee Warrant liability —  —  6,191  Total Warrant Liabilities $ 1,833  $ —  $ 6,502  Sponsor Earnout Liability $ —  $ —  $ 1,353  The following methods and assumptions were used to estimate the fair values: •The carrying values of cash and cash equivalents, restricted cash, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses and other liabilities are considered to approximate their fair values due to the short term nature of these items. •The fair values of the PIPE Warrant, the Liberty Warrants and Liberty Advisory Fee Warrant have been estimated using the Black-Scholes model. Significant unobservable inputs include: ◦Time to expiry - 3.6 years ◦Volatility - 57% ◦Risk free rate of return: 4.4% •The fair values of the Sponsor Earnout has been estimated using the Monte Carlo model. Significant unobservable inputs include: ◦Time to expiry - 3.6 years ◦Volatility - 57% ◦Risk free rate of return: 4.4% •The fair values of the $8.63 Warrants were determined using quoted prices in the active warrant market. Significant unobservable inputs include: ◦Time to expiry - 3.6 years ◦Volatility - 52% ◦Risk free rate of return: 4.4% •The carrying value of operating lease liabilities is calculated as the present value of lease payments, discounted at its incremental borrowing rate at the lease commencement date. We consider that the incremental borrowing rate remained unchanged, therefore the carrying amount of operating lease liabilities approximates their fair value. •Changes in the fair value of Level 3 liabilities during the six months ended June 30, 2023 and 2022 were as follows: Liberty Warrants and Liberty Advisory Fee Warrant PIPE Warrant Columbia Warrant Sponsor Earnout Forfeiture Earnout Cantor Loan At January 1, 2022 $ —  $ —  $ 143,237  $ —  $ —  $ 7,522  Issues 30,853  1,312  —  8,022  6,135  —  Remeasurement (gain)/loss (1) (15,476) (360) (18,635) (4,911) (5,130) 489  Write-off of deferred costs —  —  203  —  —  —  Settlements (2) —  —  (124,805) —  (1,005) (8,011) At June 30, 2022 $ 15,377  $ 952  $ —  $ 3,111  $ —  $ —  At January 1, 2023 $ 6,191  $ 311  $ —  $ 1,353  $ —  $ —  Remeasurement (gain)/loss (1) (3,852) (202) —  (849) —  —  At June 30, 2023 $ 2,339  $ 109  $ —  $ 504  $ —  $ —  (1)Recognized in the Condensed Consolidated Statements of Operations and Comprehensive Loss for the six months ended June 30, 2023 and 2022, respectively. (2)These liabilities were settled in connection with the Merger. See Note 4 (Recapitalization Transaction). There were no transfers between Level 1 and Level 2 during the six months ended June 30, 2023 or 2022.

v3.23.3

Related Parties	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Parties	Related Parties We had convertible notes with certain related parties that were settled in connection with the Merger. See Note 4 (Reverse Recapitalization). The following table provides the associated finance costs as follows: Six Months Ended June 30, 2023 2022 Convertible notes from related parties Interest expense on amounts owed to related parties $ —  $ 44  There are no sales or purchases transactions with entities which have significant influence over us or our key management personnel. See description of transactions with CF&Co and Liberty Investment as part of the Merger Transaction described in Note 4 (Reverse Recapitalization). We made purchases totaling $1.4 million from our equity method investee, OS, in the six months ended June 30, 2023 and there was $0.8 million owed to OS and included in accounts payable at June 30, 2023.

v3.23.3

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies We may be named from time to time as a party to lawsuits arising in the ordinary course of business related to our sales, marketing, and the provision of our services and equipment. Litigation and contingency accruals are based on our assessment, including advice of legal counsel, regarding the expected outcome of litigation or other dispute resolution proceedings. If we determine that an unfavorable outcome is probable and can be reasonably assessed, we establish the necessary accruals. As of June 30, 2023 and December 31, 2022, we are not aware of any contingent liabilities that should be reflected in the Condensed Consolidated Financial Statements.

v3.23.3

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The Company conducts business through one operating segment.
Consolidation	The accompanying Condensed Consolidated Financial Statements include our accounts and those of our wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Condensed Consolidated Financial Statements are presented in United States dollars (hereinafter “U.S. dollars” or “$”).
Reclassification	Certain prior year amounts have been reclassified to conform to the current year presentation.
Use of Estimates	Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions reflected in these Condensed Consolidated Financial Statements include, but are not limited to, revenue recognition; determination of useful lives of property and equipment; valuation of warrant liabilities, earnout liabilities, stock options; and determination of income tax. We evaluate our estimates and assumptions on an ongoing basis. Actual results could differ from those estimates and such differences may be material to the Condensed Consolidated Financial Statements.
Revenue Recognition	Revenue Recognition We recognize revenue in accordance with Topic 606, Revenue from contracts with customers. Revenue is recognized when a customer obtains control of promised goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The amount of revenue that is recorded reflects the consideration that we expect to receive in exchange for goods or services provided under such contracts. We apply the following five-step model in order to determine this amount: (i) identification of the promised goods in the contract; (ii) determination of whether the promised goods are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) we satisfy each performance obligation. Our main revenue stream is from services. We recognize as revenues, the amount of the transaction price that is allocated to the respective performance obligation when or as the performance obligation is satisfied. Revenue is recognized ratably over the subscription period or at the point in time upon delivery. Our satellite imagery can be delivered to customers in two ways: either by providing access via our platform or via electronic delivery. The nature of our contracts does not currently give rise to variable consideration related to returns or refunds as those are not offered. We evaluate contracts with a minimum purchase commitment to determine whether we expect to be entitled to a breakage amount. We consider the requirements on constraining estimates variable consideration. The following factors are evaluated when assessing the increased likelihood of a significant revenue reversal: (i) the amount of consideration is highly susceptible to factors outside our influence or control (e.g., volatility in a market, judgment of action of third parties, weather conditions), (ii) uncertainty about the amount of consideration is not expected to be resolved for a long period of time, (iii) our experience with similar types of contracts is limited, or that experience has limited predictive value, (iv) we have a practice of either offering a broad range of price concessions or changing the payment terms and conditions of similar contracts in similar circumstances, and (v) the contract has a large number and broad range of possible consideration amounts. We exclude amounts collected on behalf of third parties, such as sales taxes, when determining transaction price. Contract liabilities consist of payments received from customers, or such consideration that is contractually due, in advance of providing the product or performing services. We generally do not enter into long-term financing arrangements or payment plans with customers. Although our business practice is not to enter into contracts with non-cash consideration, at times this may occur. In these instances, we determine the fair value of the non-cash consideration at contract inception and includes this value as part of the total arrangement consideration. In instances where we cannot reasonably estimate the fair value of the non-cash consideration, we will measure the consideration indirectly by reference to its stand-alone selling price of the goods promised to the customer in exchange for consideration.
Fair Value Measurement	Fair Value Measurement Certain assets and liabilities are carried at fair value in accordance with U.S. GAAP. Valuation techniques used to measure fair value requires us to utilize observable and unobservable inputs. The hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Financial instruments carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: •Level 1: Quoted prices in active markets for identical assets or liabilities. •Level 2: Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable. •Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable. Assets and liabilities recognized at fair value on a recurring basis in the Condensed Consolidated Financial Statements are re-assessed at the end of each reporting period to determine whether any transfers have occurred between levels in the hierarchy.
Credit risk management	Credit risk management Credit risk is the risk that a counterparty fails to discharge an obligation to us. We are exposed to credit risk from financial assets including cash, cash equivalents and restricted cash held at banks, trade and other receivables. The credit risk is managed based on our credit risk management policies and procedures. Credit risk of any entity doing business with us is systematically analyzed, including aspects of a qualitative nature. The measurement and assessment of our total exposure to credit risk covers all financial instruments involving any counterparty risk. The credit risk in respect of cash balances held with banks and deposits with banks are managed via diversification of bank deposits and are only with major reputable financial institutions. As our risk exposure is mainly influenced by the individual characteristics of each customer, we continuously analyze the creditworthiness of significant debtors. Accounts receivable are non-interest bearing and generally on terms of 30 to 90 days.
Impairment of Assets	Impairment of Assets We assess potential impairments to long-lived assets whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. An impairment is considered to exist if the total estimated future cash flows on an undiscounted basis are less than the carrying amount of the assets or asset group. We performed an impairment test as of June 30, 2023 due to our net loss for the period and concluded that the asset group is not impaired. Estimates of future cash flows are highly subjective judgments based on management’s experience and knowledge of the Company's operations. These estimates can be significantly impacted by many factors, including changes in global economic conditions, operating costs, obsolescence of technology and competition. If estimates or underlying assumptions change in the future, we may be required to record impairment charges. If the fair value of an asset group is less than its carrying amount, then the carrying amount of the asset group would be reduced to its fair value. That reduction is an impairment loss that would be recognized in the Condensed Consolidated Statements of Operations and Comprehensive Loss.
Equity Method Investments	Equity Method Investments We account for equity investments in which we have significant influence, but not a controlling financial interest, using the equity method of accounting. Under the equity method of accounting, investments are initially recorded at cost, less impairment, and subsequently adjusted to recognize our share of earnings or losses as a component of Other income (expense), net in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Our equity method investments are required to be reviewed for impairment when it is determined there may be an other-than-temporary loss in value. We have not recorded any impairment losses related to our equity method investments during the period ended June 30, 2023.
Stock-Based Compensation	Stock-Based Compensation We measure and recognize all stock-based compensation expense based on estimated fair values for all stock-based awards made to employees and non-employees. Compensation cost is recognized over the requisite service period for each separate tranche, as though each tranche of the award is, in substance, a separate award. The expense calculation includes estimated forfeiture rates, which have been developed based upon historical experience. The fair values for stock options are calculated using the Black-Scholes option pricing model using the following inputs: Expected term - The simplified method is used to calculate the expected term. Expected volatility - We determine the expected stock price volatility based on the historical volatilities of guideline companies from comparable industries. Expected dividend yield - We do not use a dividend rate due to the fact that we have never declared or paid cash dividends on the Company’s common stock and we do not anticipate doing so in the foreseeable future. Risk-free interest rate - We base our interest rate on a treasury instrument for which the term is commensurate with the maximum expected life of the stock options.
Foreign Currencies	Foreign Currencies The financial position and results of operations of certain of our foreign subsidiaries are measured using the local currency as the functional currency. Revenues and expenses of these subsidiaries have been translated into U.S. dollars at average exchange rates prevailing during the period. Assets and liabilities of these subsidiaries have been translated at the exchange rates as of the balance sheet date. Translation gains and losses are recorded in accumulated other comprehensive loss. Aggregate foreign currency gains and losses, such as those resulting from the settlement of receivables or payables, foreign currency contracts and short-term intercompany advances in a currency other than the relevant subsidiary’s functional currency, are recorded currently in the Condensed Consolidated Statements of Operations and Comprehensive Loss (included in other income, net) and resulted in gains of $2.0 million and $0.5 million during the six-month periods ended June 30, 2023 and 2022, respectively.
Leases	Leases We determines if a contract is a lease or contains a lease at inception. On the lease commencement date, we recognize a right-of-use (“ROU”) asset and lease liability related to operating type leases. The cost of ROU assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Operating lease liabilities are recorded based on the present value of the future lease fixed payments. In determining the present value of future lease payments, we use our incremental borrowing rate applicable to the economic environment and the duration of the lease based on the information available at the commencement date as the majority of leases do not provide an implicit rate. For real estate and equipment contracts, we generally account for the lease and non-lease components as a single lease component. In assessing the lease term, we include options to renew only when we are reasonably certain that such option(s) will be exercised; a determination which is at our sole discretion. Variable lease payments are recognized as expenses in the period incurred. For leases with an initial term of 12 months or less, we have elected to not record an ROU asset and lease liability. We record lease expense on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, beginning on the commencement date. We remeasure and reallocate the consideration in a lease when there is a modification of the lease that is not accounted for as a separate contract. The lease liability is remeasured when there is a change in the lease term or in the assessment of whether we will exercise a lease option. We assess ROU assets for impairment in accordance with our long-lived asset impairment policy. We account for lease agreements with contractually required lease and non-lease components on a combined basis. Lease payments made for cancellable leases, variable amounts that are not based on an observable index and lease agreements with an original duration of less than 12 months are recorded directly to lease expense. For the periods presented, the Company does not have any financing type leases.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Trade accounts receivable are stated at the amount owed by the customer, net of allowances for estimated doubtful accounts, discounts, returns and rebates. We measure the allowance for doubtful accounts based on the estimated loss. In calculating an allowance for doubtful accounts, we use our historical experience, external indicators and an aging method. We assess impairment of trade accounts receivable on a collective basis as they possess shared credit risk characteristics, which have been grouped based on customer industry type. The Company also considers account size in its groupings and the days past due in its analysis. Accounts are written off against the allowance account when they are determined to be no longer collectible.
Cash, Cash Equivalents	Cash and cash equivalents include deposits in banks and short-term (original maturities of three months or less at the time of purchase), highly liquid investments that are readily convertible to known amounts of cash with a maturity of three months or less at the time of purchase.
Restricted Cash	Restricted cash, including amounts in Other non-current assets, represents amounts pledged as guarantees for sales and lease agreements as contractually required.
Accounting Standard Recently Adopted	Accounting Standard Recently Adopted In June 2016, the FASB issued ASU No. 2016-13, Credit Losses - Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires entities to use a forward-looking approach based on current expected credit losses to estimate credit losses on certain types of financial instruments, including trade receivables, resulting in an earlier recognition of losses than under the current incurred loss approach, which requires waiting to recognize a loss until it is probable of being incurred. We adopted this guidance as of January 1, 2023. The impact of adopting this new guidance was not material to the consolidated financial statements.

v3.23.3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Allowance for Credit Losses	The following table shows the activity in the allowance for doubtful accounts for the six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 2022 Allowance for doubtful accounts as of beginning of period $ 3,237  $ 1,794  Provision 63  1,456  Allowance for doubtful accounts as of end of period $ 3,300  $ 3,250
Schedule of Cash and Cash Equivalents	June 30, 2023 December 31, 2022 Cash and cash equivalents $ 41,978  $ 76,528  Restricted cash —  126  Restricted cash included in Other non-current assets 1,148  1,138  Total cash, cash equivalents and restricted cash $ 43,126  $ 77,792
Schedule of Restrictions on Cash and Cash Equivalents	June 30, 2023 December 31, 2022 Cash and cash equivalents $ 41,978  $ 76,528  Restricted cash —  126  Restricted cash included in Other non-current assets 1,148  1,138  Total cash, cash equivalents and restricted cash $ 43,126  $ 77,792
Schedule of Cash Flow, Supplemental Disclosures	Cash Flow Information Six Months Ended June 30, 2023 2022 Cash paid during the period for: Income tax, net of refunds $ 174  $ 415  Interest $ 3  $ 2,390

v3.23.3

Reverse Recapitalization (Tables)	6 Months Ended
	Jun. 30, 2023
Reverse Recapitalization [Abstract]
Schedule Of Reverse Recapitalization	The following table illustrates the shares issued to our stockholders after giving effect to the 3.3028 Exchange Ratio in accordance with the transactions contemplated by the Merger Agreement as of the Closing Date and the issuance of shares pursuant to the transactions described above: Company stockholders Shares Class A stockholders immediately prior to merger 17,215,336 Series A preferred stockholders 7,968,316 Series B preferred stockholders 4,597,928 Series B-1 preferred stockholders 2,171,399 2018 convertible noteholders 5,581,416 2019 convertible noteholders 7,846,333 2020 convertible noteholders 4,553,205 Redeemable Series X preferred stockholders 2,140,340 Liberty investors 20,000,000 PIPE investors 5,816,770 Shares issued for Cantor loan repayment 788,021 Shares issued to Sponsor under Forward Purchase Securities Agreement 1,250,000 Issuance of shares for transaction fees 2,058,229 CF V shares 6,837,354 88,824,647

v3.23.3

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Six Months Ended June 30, 2023 2022 Revenue by timing Over time $ 823  $ 1,524  Point-in time 2,361  864  Total revenue $ 3,184  $ 2,388  Information about the Company’s revenue by geography is as follows: Six Months Ended June 30, 2023 2022 Revenue by geography (1) Asia Pacific $ 269  $ 1,525  Europe 993  —  North America 1,879  521  South America 43  342  Total revenue $ 3,184  $ 2,388  (1)Revenue by geography is based on the geographical location of the customer.
Schedule of Contract with Customer, Contract Asset, Contract Liability, and Receivable	Amounts included in Contract liabilities are as follows: June 30, December 31, 2023 2022 Non-current $ 1,000  $ 1,000  Current 2,300  1,941  Total $ 3,300  $ 2,941
Schedule of Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction	The following table represents the total transaction price for the remaining performance obligations as of June 30, 2023 related to non-cancellable contracts longer than 12-months in duration that is expected to be recognized over future periods. Within 1 Year Years 1-2 Years 2-3 Thereafter Remaining performance obligations $ 4,714  $ 11,889  $ 3,000  $ —

v3.23.3

Warrant Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Other Liabilities Disclosure [Abstract]
Schedule Of Warrant Liability	Liberty Warrants and Liberty Advisory Fee Warrant PIPE Warrant $8.63 Warrants Total Warrants As of December 31, 2022 $ 6,191  $ 311  $ 1,833  $ 8,335  Warrants issued $ —  $ —  $ —  $ —  Change in fair value of financial instruments (3,852) (202) (677) (4,731) As of June 30, 2023 $ 2,339  $ 109  $ 1,156  $ 3,604

v3.23.3

Earnout Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Earnout Liability [Abstract]
Schedule of Earnout Liability	Sponsor Earnout As of December 31, 2022 $ 1,353  Change in fair value of financial instruments (849) As of June 30, 2023 $ 504
Schedule of Assumptions used in the Valuation	Assumptions used in the valuation are as follows: June 30, 2023 December 31, 2022 Expected term (in years) 3.57 4.07 Dividend yield (%) —  % —  % Expected volatility 56.7  % 50.4  % Risk-free interest rate 4.4  % 4.1  % Expected number of shares 1,775,962  1,775,962

v3.23.3

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net consists of the following: Estimated Useful Life (in years) June 30, 2023 December 31, 2022 Satellites and other equipment 3-5 $ 68,309  $ 54,370  Satellites under construction Not applicable 13,911  22,194  Leasehold improvements 5-10 7,325  6,433  Other property and equipment 3-10 4,258  4,146  Total property and equipment 93,803  87,143  Less: Accumulated depreciation (48,040) (39,162) Property and equipment, net $ 45,763  $ 47,981  Information related to the Company’s property and equipment and operating lease ROU assets by geography is as follows: June 30, 2023 December 31, 2022 Uruguay $ 41,601  $ 43,134  Argentina 1,082  1,346  Spain 881  729  Netherlands 11,330  9,471  Other countries 779  1,472  Total (1) (2) (3) $ 55,673  $ 56,152  (1)Non-current assets include property and equipment, net and operating lease right-of-use assets. (2)Presentation in the table is based on the geographic location of the entity that holds the assets. (3)We do not have any non-current assets in the country of incorporation of the holding company.

v3.23.3

Additional Financial Statement Information (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Prepaid and Other Current Assets	Prepaid Expenses and Other Current Assets June 30, December 31, 2023 2022 Prepaid expenses and other current assets Prepaid expenses $ 3,404  $ 1,767  Advances to suppliers 305  588  Other current assets 329  843  Total $ 4,038  $ 3,198
Schedule of Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities June 30, December 31, 2023 2022 Accrued expenses and other liabilities Provisions 68  71  Payroll and benefits payable 3,429  3,289  Other taxes payable 3,337  3,128  Other 446  451  Total $ 7,280  $ 6,939  Total current $ 6,766  $ 6,417  Total non-current $ 514  $ 522
Schedule of Finance Costs, Net and Other Financial Income (Expense)	Finance Costs, net Six Months Ended June 30, 2023 2022 Finance income (expense), net Interest expense $ (3) $ (1,588) Redeemable Series X preferred stock dividends —  (97) Other finance costs (65) (70) Interest income 1,150  149  Total $ 1,082  $ (1,606)

v3.23.3

Income Tax (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense were as follows: Six Months Ended June 30, 2023 2022 Loss before income tax $ (27,727) $ (5,978) Provision for income tax $ 2,124  $ 2,143  Effective tax rate (7.7  %) (35.9  %)
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amounts of our gross unrecognized tax benefits is as follows: Six Months Ended June 2023 Balance at January 1, 2023 $ 3,889  Increases (decreases) in tax positions related to prior periods (1,150) Balance at June 30, 2023 $ 2,739

v3.23.3

Stockholders’ Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Authorized and Issued Preferred Stock	Prior to the Merger, the Company’s authorized and issued preferred stock consisted of the following: Authorized Shares (prior to Merger) Issued and Outstanding Shares (as of December 31, 2021) Series A preferred stock 4,723,330  2,547,330  Series B preferred stock 3,117,915  1,392,131  Series B-1 preferred stock 899,153  672,524  Total preferred stock 8,740,398  4,611,985

v3.23.3

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-Based Payment Arrangement, Option, Activity	A summary of stock option activity for the six months ended June 30, 2023 was as follows: Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (years) Intrinsic Value (in thousands) Balance as of December 31, 2022 6,067,313 $1.83  2.07 Forfeited (277,807) 3.64  Exercised (105,681) 1.14  Expired (160,553) 2.34  Outstanding at June 30, 2023 5,523,272 $1.70  1.87 $ 4,639  Exercisable at June 30, 2023 4,487,977 $1.32  1.77 $ 4,215
Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity	A summary of RSU activity for the six months ended June 30, 2023 is as follows: Number of RSUs Intrinsic value (in thousands) Outstanding unvested RSUs at December 31, 2022 1,459,280 Granted during the year 299,577 Forfeited during the year (331,472) Vested during the year (366,553) Outstanding unvested RSUs at June 30, 2023 1,060,832 $ 2,079
Schedule of Stock-Based Compensation Expense	Total employee and non-employee stock-based compensation expense for the six months ended June 30, 2023 and 2022 was classified in the Condensed Consolidated Statements of Operations and Comprehensive Loss as follows: Six Months Ended June 30, 2023 2022 General and administrative expenses $ 1,830  $ 1,686  Research and development expenses 621  972  Other operating expenses 390  1,827  Total $ 2,841  $ 4,485

v3.23.3

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted net loss per share attributable to common stockholders is calculated as follows: Six Months Ended June 30, 2023 2022 Net loss attributable to common stockholders $ (29,851) $ (8,121) Basic weighted-average common shares outstanding (1) 89,326,172 62,094,383 Basic net loss per share for the period attributable to common stockholders $ (0.33) $ (0.13) Effect of dilutive securities: Adjustment to numerator - Change in fair value of Columbia Warrant liability $ —  $ (18,635) Dilutive numerator $ (29,851) $ (26,756) Columbia Warrant —  1,410,657 Diluted weighted-average common shares outstanding 89,326,172 63,505,040 Diluted net loss per share for the period attributable to common stockholders $ (0.33) $ (0.42) 1 After applying the 3.3028 Exchange Ratio as described in Note 4 (Reverse Recapitalization).

v3.23.3

Fair Value Measurements and Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities at Fair Value	The following tables provide the fair value measurement hierarchy of the Company’s assets and liabilities: As of June 30, 2023 Fair value measurement using Financial instruments Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) $8.63 Warrants liability $ 1,156  $ —  $ —  PIPE Warrant liability —  —  109  Liberty Warrants and Liberty Advisory Fee Warrant liability —  —  2,339  Total Warrant Liabilities $ 1,156  $ —  $ 2,448  Sponsor Earnout Liability $ —  $ —  $ 504  As of December 31, 2022 Fair value measurement using Financial instruments Quoted prices in active markets (Level 1) Significant observable inputs (Level 2) Significant unobservable inputs (Level 3) $8.63 Warrants liability $ 1,833  $ —  $ —  PIPE Warrant liability —  —  311  Liberty Warrants and Liberty Advisory Fee Warrant liability —  —  6,191  Total Warrant Liabilities $ 1,833  $ —  $ 6,502  Sponsor Earnout Liability $ —  $ —  $ 1,353
Schedule of Changes in the Fair Value of Level 3 Liabilities	Changes in the fair value of Level 3 liabilities during the six months ended June 30, 2023 and 2022 were as follows: Liberty Warrants and Liberty Advisory Fee Warrant PIPE Warrant Columbia Warrant Sponsor Earnout Forfeiture Earnout Cantor Loan At January 1, 2022 $ —  $ —  $ 143,237  $ —  $ —  $ 7,522  Issues 30,853  1,312  —  8,022  6,135  —  Remeasurement (gain)/loss (1) (15,476) (360) (18,635) (4,911) (5,130) 489  Write-off of deferred costs —  —  203  —  —  —  Settlements (2) —  —  (124,805) —  (1,005) (8,011) At June 30, 2022 $ 15,377  $ 952  $ —  $ 3,111  $ —  $ —  At January 1, 2023 $ 6,191  $ 311  $ —  $ 1,353  $ —  $ —  Remeasurement (gain)/loss (1) (3,852) (202) —  (849) —  —  At June 30, 2023 $ 2,339  $ 109  $ —  $ 504  $ —  $ —  (1)Recognized in the Condensed Consolidated Statements of Operations and Comprehensive Loss for the six months ended June 30, 2023 and 2022, respectively. (2)These liabilities were settled in connection with the Merger. See Note 4 (Recapitalization Transaction).

v3.23.3

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Schedule of Notes Debt Balances And Associated Finance Cost From Related Parties	The following table provides the associated finance costs as follows: Six Months Ended June 30, 2023 2022 Convertible notes from related parties Interest expense on amounts owed to related parties $ —  $ 44

v3.23.3

Nature of the Business and Basis of Presentation - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments | segment	1
Accumulated deficit	$ 252,666		$ 222,815
Net cash used in operating activities	26,313	$ 34,487
Cash and cash equivalents	$ 41,978		$ 76,528

v3.23.3

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Concentration Risk [Line Items]
Total revenue	$ 3,184	$ 2,388
Foreign currency transaction gains	2,000	500
Lease, cost	1,300	900
Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Total revenue	$ 2,600	$ 2,000
Customer One | Accounts Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	84.00%
Customer One | Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	10.00%
Customer Two | Accounts Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage		72.00%
Customer Two | Revenue Benchmark | Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	10.00%

v3.23.3

Summary of Significant Accounting Policies - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for doubtful accounts as of beginning of period		$ 1,794
Bad debt expense	$ 63	1,456
Allowance for doubtful accounts as of end of period		$ 3,250

v3.23.3

Summary of Significant Accounting Policies - Schedule of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 41,978	$ 76,528
Restricted cash	0	126
Restricted cash included in Other non-current assets	1,148	1,138
Total cash, cash equivalents and restricted cash	$ 43,126	$ 77,792	$ 124,300	$ 8,533

v3.23.3

Summary of Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Accounting Policies [Abstract]
Income tax, net of refunds	$ 174	$ 415
Interest	$ 3	$ 2,390

v3.23.3

Reverse Recapitalization - Narrative (Details) $ / shares in Units, $ in Thousands				1 Months Ended		6 Months Ended
	Feb. 10, 2022 USD ($) anniversary	Jan. 25, 2022 USD ($) $ / shares shares	Jan. 18, 2022 USD ($) $ / shares shares	Jan. 24, 2022	Jul. 31, 2021 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($) shares	Dec. 31, 2021 shares	Dec. 23, 2021 USD ($)
Schedule of Reverse Recapitalization [Line Items]
Proceeds from reverse recapitalization | $		$ 168,000				$ 0	$ 167,504
Redeemable preferred shares outstanding (in shares)							0	2,033,230
Conversion of Series X preferred stock in connection with the reverse recapitalization (in shares)							2,033,230
Exchange ratio				3.3028		3.3028
Shares issued for Cantor loan repayment
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities | $							$ 7,880
Cantor Fitzgerald Securities | Shares issued for Cantor loan repayment | Cantor Loan
Schedule of Reverse Recapitalization [Line Items]
Long-term debt | $									$ 7,500
Liberty
Schedule of Reverse Recapitalization [Line Items]
Proceeds from issuance or sale of equity | $			$ 150,000
Common Stock
Schedule of Reverse Recapitalization [Line Items]
Conversion of Series X preferred stock in connection with the reverse recapitalization (in shares)							2,140,340
Common Stock | Shares issued for Cantor loan repayment
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, shares, conversion of preferred stock (in shares)			788,021				788,021
Additional paid-in capital | Shares issued for Cantor loan repayment
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities | $							$ 7,880
PIPE Warrant
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities | $							$ 47,430
PIPE Warrant | Common Stock
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, shares, conversion of preferred stock (in shares)							6,108,332
PIPE Warrant | Additional paid-in capital
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities | $							$ 47,430
Forward Purchase Contract Warrant
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities | $							$ 10,000
Forward Purchase Contract Warrant | Common Stock
Schedule of Reverse Recapitalization [Line Items]
Number of securities called by warrants or rights (in shares)					333,333
Stock issued during period, shares, conversion of preferred stock (in shares)					1,250,000		1,250,000
Forward Purchase Contract Warrant | Additional paid-in capital
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities | $					$ 10,000		$ 10,000
Liberty Subscription Agreement - $10 | Liberty
Schedule of Reverse Recapitalization [Line Items]
Warrant price (in usd per share) | $ / shares			$ 10.00
Liberty Subscription Agreement - $15 | Liberty
Schedule of Reverse Recapitalization [Line Items]
Warrant price (in usd per share) | $ / shares			15.00
Liberty Warrants and Liberty Advisory Fee Warrant | Liberty Manager
Schedule of Reverse Recapitalization [Line Items]
Warrant price (in usd per share) | $ / shares			$ 10.00
Class of warrant or right, advisory fee | $	$ 1,250					$ 7,500
Class of warrant or right, anniversary period	18 months
Number of successive anniversaries that advisory fee will be paid | anniversary	5
Common Class A
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		5,816,770
Conversion of Series X preferred stock in connection with the reverse recapitalization (in shares)		2,140,340
Common Class A | Liberty | Private Placement
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)			20,000,000
Common Class A | CF V shares | Transaction Fee Payment
Schedule of Reverse Recapitalization [Line Items]
Sale of stock, number of shares issued in transaction (in shares)			2,058,229
Sale of stock, consideration received on transaction | $			$ 5,000
Common Class A | PIPE Warrant
Schedule of Reverse Recapitalization [Line Items]
Number of securities called by warrants or rights (in shares)		2,500,000
Warrant price (in usd per share) | $ / shares		$ 20.00
Proceeds from issuance or sale of equity | $		$ 58,200
Common Class A | Forward Purchase Contract Warrant | Common Stock
Schedule of Reverse Recapitalization [Line Items]
Warrant price (in usd per share) | $ / shares					$ 11.50
Common Class A | Liberty Subscription Agreement - $10 | Liberty
Schedule of Reverse Recapitalization [Line Items]
Number of securities called by warrants or rights (in shares)			5,000,000
Common Class A | Liberty Subscription Agreement - $15 | Liberty
Schedule of Reverse Recapitalization [Line Items]
Number of securities called by warrants or rights (in shares)			15,000,000
Common Class A | Liberty Warrants and Liberty Advisory Fee Warrant | Liberty Manager
Schedule of Reverse Recapitalization [Line Items]
Number of securities called by warrants or rights (in shares)			2,500,000
Redeemable Series X preferred stockholders
Schedule of Reverse Recapitalization [Line Items]
Redeemable preferred shares outstanding (in shares)		2,033,230				0
Preferred stock dividends | $		$ 21,400

v3.23.3

Reverse Recapitalization - Schedule of Reverse Recapitalization (Details) - shares	Jan. 25, 2022	Jan. 24, 2022
Schedule of Reverse Recapitalization [Line Items]
Common stock, shares outstanding (in shares)	88,824,647	17,215,336
Issuance of shares for transaction fees (in shares)	2,058,229
Forward Purchase Contract Warrant
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	1,250,000
Series A preferred stockholders
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	7,968,316
Series B preferred stockholders
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	4,597,928
Series B-1 preferred stockholders
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	2,171,399
2018 convertible noteholders
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities (in shares)	5,581,416
2019 convertible noteholders
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities (in shares)	7,846,333
2020 convertible noteholders
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, conversion of convertible securities (in shares)	4,553,205
Redeemable Series X preferred stockholders
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	2,140,340
Liberty investors
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	20,000,000
PIPE investors
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	5,816,770
Shares issued for Cantor loan repayment
Schedule of Reverse Recapitalization [Line Items]
Stock issued during period, shares, repayment of loan (in shares)	788,021
CF V shares
Schedule of Reverse Recapitalization [Line Items]
Stock issued (in shares)	6,837,354

v3.23.3

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	$ 3,184	$ 2,388
Contract with customer, liability, revenue recognized	$ 100	$ 500

v3.23.3

Revenue from Contracts with Customers - Schedule of Revenue Amounts were Recognized Over Time and Point-in-Time (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,184	$ 2,388
Over time
Disaggregation of Revenue [Line Items]
Total revenue	823	1,524
Point-in time
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,361	$ 864

v3.23.3

Revenue from Contracts with Customers - Schedule of Revenue by Geography (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 3,184	$ 2,388
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	269	1,525
Europe
Disaggregation of Revenue [Line Items]
Total revenue	993	0
North America
Disaggregation of Revenue [Line Items]
Total revenue	1,879	521
South America
Disaggregation of Revenue [Line Items]
Total revenue	43	342
Over time
Disaggregation of Revenue [Line Items]
Total revenue	823	1,524
Point-in time
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,361	$ 864

v3.23.3

Revenue from Contracts with Customers - Schedule of Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Non-current	$ 1,000	$ 1,000
Current	2,300	1,941
Total	$ 3,300	$ 2,941

v3.23.3

Revenue from Contracts with Customers - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 4,714
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 11,889
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 3,000
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, remaining performance obligation, expected timing of satisfaction, period

v3.23.3

Warrant Liabilities - Schedule of Warrants (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Warrant Liability [Roll Forward]
Beginning balance	$ 8,335
Change in fair value of financial instruments	(4,731)
Ending Balance	3,604
Liberty Warrants and Liberty Advisory Fee Warrant
Warrant Liability [Roll Forward]
Beginning balance	6,191
Change in fair value of financial instruments	(3,852)
Ending Balance	2,339
PIPE Warrant
Warrant Liability [Roll Forward]
Beginning balance	311
Change in fair value of financial instruments	(202)
Ending Balance	109
$8.63 Warrants
Warrant Liability [Roll Forward]
Beginning balance	1,833
Change in fair value of financial instruments	(677)
Ending Balance	$ 1,156

v3.23.3

Warrant Liabilities - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Jan. 25, 2022	Jan. 24, 2022	Jan. 18, 2022
Derivative [Line Items]
Warrant liability	$ 3,604		$ 8,335
Liberty Warrants and Liberty Advisory Fee Warrant
Derivative [Line Items]
Warrant liability	2,339		6,191			$ 30,900
PIPE Warrant
Derivative [Line Items]
Warrant liability	109		311	$ 1,300
$8.63 Warrants
Derivative [Line Items]
Warrant liability	1,156		$ 1,833
Warrant price (in usd per share)				$ 8.63	$ 11.50
Warrants issued	$ 4,900
Warrant redemption (in usd per share)				$ 13.50	$ 18.00
$8.63 Warrants | CF V shares
Derivative [Line Items]
Class of warrant or right, exercisable period after closing date (in days)				30 days
Warrants and rights outstanding, term (in years)				5 years
Issuance of common stock upon exercise of common stock warrants (in shares)		613,111
SPAC Public Warrants | CF V shares
Derivative [Line Items]
Warrants issued (in shares)				8,333,333
SPAC Private Placement Warrants | CF V shares
Derivative [Line Items]
Warrants issued (in shares)				200,000
Forward Purchase Contract Warrant | CF V shares
Derivative [Line Items]
Warrants, unissued (in shares)				333,333

v3.23.3

Earnout Liabilities - Earnout Liability (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Earnout Liability [Roll Forward]
Beginning balance	$ 1,353
Ending balance	504
Sponsor Earnout
Earnout Liability [Roll Forward]
Beginning balance	1,353
Change in fair value of financial instruments	(849)
Ending balance	$ 504

v3.23.3

Earnout Liabilities - Narrative (Details) $ / shares in Units, $ in Millions		6 Months Ended
	Jan. 25, 2022 USD ($) day $ / shares shares	Jun. 30, 2023 USD ($) day trading_day $ / shares shares	Dec. 31, 2022 shares
Earnout Liability [Line Items]
Expected number of shares(in shares) | shares		1,775,962	1,775,962
Forfeiture Earnout
Earnout Liability [Line Items]
Earnout period	5 years
Earnout period, trigger price (in usd per share)	$ 10.00
Adjustment period	30 days
Sponsor Earnout Liability | $	$ 6.1	$ 1.0
Forfeiture Earnout | Trigger Price Two
Earnout Liability [Line Items]
Earnout period, trigger price (in usd per share)	$ 15.00
Contingent consideration, threshold trading days | day	10
Contingent consideration, threshold non-consecutive trading days	20 days
Forfeiture Earnout | Common Class A
Earnout Liability [Line Items]
Contingent consideration escrow (in shares) | shares	310,127
CF V shares | Sponsor Earnout
Earnout Liability [Line Items]
Contingent consideration, threshold trading days | trading_day		10
Contingent consideration, threshold consecutive trading days | day		20
CF V shares | Sponsor Earnout | Trigger Price One
Earnout Liability [Line Items]
Earnout period, trigger price (in usd per share)		$ 12.50
CF V shares | Sponsor Earnout | Trigger Price Two
Earnout Liability [Line Items]
Earnout period, trigger price (in usd per share)		15.00
CF V shares | Sponsor Earnout | Trigger Price Three
Earnout Liability [Line Items]
Earnout period, trigger price (in usd per share)		$ 20.00
CF V shares | Sponsor Earnout | Common Class A
Earnout Liability [Line Items]
Earnout period	5 years
Contingent consideration (in shares) | shares		1,869,000
Percentage of forfeiture escrow shares retired and cancelled (as a percent)		30.00%

v3.23.3

Earnout Liabilities - Valuation Assumptions (Details) - shares	Jun. 30, 2023	Dec. 31, 2022
Earnout Liability [Abstract]
Expected term (in years)	3 years 6 months 25 days	4 years 25 days
Dividend yield (%)	0.00%	0.00%
Expected volatility	56.70%	50.40%
Risk-free interest rate	4.40%	4.10%
Expected number of shares(in shares)	1,775,962	1,775,962

v3.23.3

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 93,803	$ 87,143
Less: Accumulated depreciation	(48,040)	(39,162)
Property and equipment, net	45,763	47,981
Satellites and other equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 68,309	54,370
Satellites and other equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Satellites and other equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Satellites under construction
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 13,911	22,194
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 7,325	6,433
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	10 years
Other property and equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 4,258	$ 4,146
Other property and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Other property and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	10 years

v3.23.3

Property and Equipment - Schedule of Geographic Location (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Non-current assets by geography
Property, plant, equipment, and operating lease ROU assets	$ 55,673	$ 56,152
Uruguay
Non-current assets by geography
Property, plant, equipment, and operating lease ROU assets	41,601	43,134
Argentina
Non-current assets by geography
Property, plant, equipment, and operating lease ROU assets	1,082	1,346
Spain
Non-current assets by geography
Property, plant, equipment, and operating lease ROU assets	881	729
Netherlands
Non-current assets by geography
Property, plant, equipment, and operating lease ROU assets	11,330	9,471
Other countries
Non-current assets by geography
Property, plant, equipment, and operating lease ROU assets	$ 779	$ 1,472

v3.23.3

Additional Financial Statement Information - Schedule of Prepaid and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Prepaid expenses and other current assets
Prepaid expenses	$ 3,404	$ 1,767
Advances to suppliers	305	588
Other current assets	329	843
Total	$ 4,038	$ 3,198

v3.23.3

Additional Financial Statement Information - Schedule of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accrued expenses and other liabilities
Provisions	$ 68	$ 71
Payroll and benefits payable	3,429	3,289
Other taxes payable	3,337	3,128
Other	446	451
Total	7,280	6,939
Total current	6,766	6,417
Total non-current	$ 514	$ 522

v3.23.3

Additional Financial Statement Information - Schedule of Finance Costs, net and Other Financial Income (Expense) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest expense	$ (3)	$ (1,588)
Redeemable Series X preferred stock dividends	0	(97)
Other finance costs	(65)	(70)
Interest income	1,150	149
Total	$ 1,082	$ (1,606)

v3.23.3

Income Tax - Schedule of Components of Income Tax Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Loss before income tax	$ (27,727)	$ (5,978)
Provision for income tax	$ 2,124	$ 2,143
Effective tax rate	(7.70%)	(35.90%)

v3.23.3

Income Tax - Schedule of Unrecognized Tax Benefits Roll Forward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 3,889
Increases (decreases) in tax positions related to prior periods	(1,150)
Ending balance	$ 2,739

v3.23.3

Income Tax - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Income Tax Disclosure [Abstract]
Decrease from foreign tax exposure (up to)	$ 0.2

v3.23.3

Stockholders’ Equity - Schedule of Authorized and Issued Preferred Stock (Details)	Dec. 31, 2021 shares
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	8,740,398
Preference shares issued (in shares)	4,611,985
Preference shares outstanding (in shares)	4,611,985
Series A preferred stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	4,723,330
Preference shares issued (in shares)	2,547,330
Preference shares outstanding (in shares)	2,547,330
Series B preferred stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	3,117,915
Preference shares issued (in shares)	1,392,131
Preference shares outstanding (in shares)	1,392,131
Series B-1 preferred stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	899,153
Preference shares issued (in shares)	672,524
Preference shares outstanding (in shares)	672,524

v3.23.3

Stockholders’ Equity - Narrative (Details) $ / shares in Units, $ in Thousands		6 Months Ended
	Jan. 25, 2022 USD ($) shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) shares	Dec. 31, 2022 $ / shares shares	Feb. 14, 2022 USD ($)	Jan. 24, 2022 shares	Dec. 31, 2021 shares
Noncontrolling Interest [Line Items]
Common stock, par value (in usd per share) | $ / shares		$ 0.0001		$ 0.0001
Common stock, shares outstanding (in shares)	88,824,647					17,215,336
Stock repurchase program, authorized amount | $					$ 5,000
Payments for repurchase of common stock | $		$ 0	$ 8,603
Common Stock
Noncontrolling Interest [Line Items]
Common stock, shares outstanding (in shares)		89,661,530	88,994,146	89,195,437			17,382,854
Shares repurchased (in shares)		0	516,123
Common Class A
Noncontrolling Interest [Line Items]
Common stock, par value (in usd per share) | $ / shares		$ 0.0001
Vote for each share		1
Common stock, shares outstanding (in shares)		76,078,888		75,612,795
Common stock, shares issued (in shares)		76,078,888		75,612,795
Payments for repurchase of common stock | $			$ 2,700
Common Class A | Hannover
Noncontrolling Interest [Line Items]
Shares repurchased (in shares)	51,700
Repurchased shares | $	$ 5,900
Common Class B
Noncontrolling Interest [Line Items]
Common stock, par value (in usd per share) | $ / shares		$ 0.0001
Vote for each share		1.472467906
Common stock, shares outstanding (in shares)		13,582,642		13,582,642
Common stock, shares issued (in shares)		13,582,642		13,582,642
Voting power		20.80%
Conversion period (in years)	5 years
Common Class B | Chief Executive Officer
Noncontrolling Interest [Line Items]
Common stock, shares outstanding (in shares)		13,582,642
Voting power		100.00%
Series A preferred stock | Hannover
Noncontrolling Interest [Line Items]
Shares repurchased (in shares)	134,735
Series B-1 preferred stock | Hannover
Noncontrolling Interest [Line Items]
Shares repurchased (in shares)	15,082

v3.23.3

Stock-based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Dec. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares)		34,000
2015 Share Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted during the year (in shares)	0
2021 Incentive Compensation Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted during the year (in shares)		0	0
Share-Based Payment Arrangement, Option
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation cost		$ 1.5
Unrecognized stock-based compensation cost, period for recognition (in years)		1 year
Share-Based Payment Arrangement, Option | 2015 Share Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Award vesting period (in years)		4 years
Term of award (in years)		10 years
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based payment arrangement, shares withheld for tax withholding obligation (in shares)		60,416
Weighted-average exercise price of RSUs (in usd per share)		$ 3.56
RSUs vested (in shares)		6,141
Unrecognized stock-based compensation cost		$ 2.5
Unrecognized stock-based compensation cost, period for recognition (in years)		1 year 9 months

v3.23.3

Stock-based Compensation - Schedule of Share-Based Payment Arrangement, Option, Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Number of Options
Beginning balance (in shares)	6,067,313
Forfeited during the year (in shares)	(277,807)
Exercised during the year (in shares)	(105,681)
Expired during the year (in shares)	(160,553)
Ending balance (in shares)	5,523,272	6,067,313
Exercisable (in shares)	4,487,977
Weighted-Average Exercise Price
Beginning balance (in usd per share)	$ 1.83
Forfeited during the year (in usd per share)	3.64
Exercised during the year (in usd per share)	1.14
Expired during the year (in usd per share)	2.34
Ending balance (in usd per share)	1.70	$ 1.83
Exercisable, weighted average exercise price (in usd per share)	$ 1.32
Weighted-Average Remaining Contractual Term (years)
Weighted average remaining contractual life of outstanding options (in years)	1 year 10 months 13 days	2 years 25 days
Exercisable, weighted average remaining contractual life of outstanding options (in years)	1 year 9 months 7 days
Intrinsic value, outstanding	$ 4,639
Exercisable, intrinsic value	$ 4,215

v3.23.3

Stock-based Compensation - Schedule of RSU Activity (Details) - Restricted Stock Units (RSUs) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) shares
Number of RSUs
Beginning balance (in shares)	1,459,280
Granted during the year (in shares)	299,577
Forfeited during the year (in shares)	(331,472)
Vested during the year (in shares)	(366,553)
Ending balance (in shares)	1,060,832
Intrinsic value
Intrinsic value, outstanding | $	$ 2,079

v3.23.3

Stock-based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation	$ 2,841	$ 4,485
General and administrative expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation	1,830	1,686
Research and development expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation	621	972
Other operating expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation	$ 390	$ 1,827

v3.23.3

Redeemable Preferred Stock - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Jan. 25, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021
Redeemable Preferred Stock [Line Items]
Conversion of Series X preferred stock in connection with the reverse recapitalization (in shares)			2,033,230
Reverse recapitalization, conversion price (usd per share)	$ 10.00
Redeemable preferred shares outstanding (in shares)			0	2,033,230
Redeemable Series X preferred stockholders
Redeemable Preferred Stock [Line Items]
Redeemable preferred shares par value (in usd per share)		$ 0.00001
Dividend rate (as percent)		7.00%
Conversion of Series X preferred stock in connection with the reverse recapitalization (in shares)	2,033,230
Preferred stock dividends and redemption	$ 21.4
Redeemable preferred shares issued (in shares)		0
Redeemable preferred shares outstanding (in shares)	2,033,230	0
Common Class A
Redeemable Preferred Stock [Line Items]
Conversion of Series X preferred stock in connection with the reverse recapitalization (in shares)	2,140,340

v3.23.3

Net Loss Per Share - Narrative (Details)	1 Months Ended	6 Months Ended
	Jan. 24, 2022	Jun. 30, 2023
Earnings Per Share [Abstract]
Exchange ratio	3.3028	3.3028

v3.23.3

Net Loss Per Share (Details) $ / shares in Units, $ in Thousands	1 Months Ended	6 Months Ended
	Jan. 24, 2022	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares
Earnings Per Share [Abstract]
Net loss attributable to common stockholders | $		$ (29,851)	$ (8,121)
Basic weighted-average common shares outstanding (in shares) | shares		89,326,172	62,094,383
Basic net loss per share for the period attributable to common stockholders (in usd per share) | $ / shares		$ (0.33)	$ (0.13)
Effect of dilutive securities:
Adjustment to numerator - Change in fair value of Columbia Warrant liability | $		$ 0	$ (18,635)
Dilutive numerator (in shares) | $		$ (29,851)	$ (26,756)
Columbia warrant (in shares) | shares		0	1,410,657
Diluted weighted-average common shares outstanding (in shares) | shares		89,326,172	63,505,040
Diluted net loss per share for the period attributable to common stockholders (in usd per share) | $ / shares		$ (0.33)	$ (0.42)
Exchange ratio	3.3028	3.3028

v3.23.3

Fair Value Measurements and Financial Instruments - Fair Value Measurement Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jan. 25, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	$ 3,604	$ 8,335
$8.63 Warrants liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	1,156	1,833
PIPE Warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	109	311	$ 1,300
Quoted prices in active markets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	1,156	1,833
Sponsor earnout liability	0	0
Quoted prices in active markets (Level 1) | $8.63 Warrants liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	1,156	1,833
Quoted prices in active markets (Level 1) | PIPE Warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Quoted prices in active markets (Level 1) | Liberty Warrants and Liberty Advisory Fee Warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Significant observable inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Sponsor earnout liability	0	0
Significant observable inputs (Level 2) | $8.63 Warrants liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Significant observable inputs (Level 2) | PIPE Warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Significant observable inputs (Level 2) | Liberty Warrants and Liberty Advisory Fee Warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Significant unobservable inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	2,448	6,502
Sponsor earnout liability	504	1,353
Significant unobservable inputs (Level 3) | $8.63 Warrants liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	0	0
Significant unobservable inputs (Level 3) | PIPE Warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	109	311
Significant unobservable inputs (Level 3) | Liberty Warrants and Liberty Advisory Fee Warrant liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability	$ 2,339	$ 6,191

v3.23.3

Fair Value Measurements and Financial Instruments - Narrative (Details) - $ / shares			6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2023	Jan. 25, 2022	Jan. 24, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Time to expiry (in years)	3 years 6 months 25 days	4 years 25 days
Volatility (in percent)	56.70%	50.40%
Risk free rate of return (in percent)	4.40%	4.10%
PIPE Warrant, the Liberty Warrants and Liberty Advisory Fee Warrant
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Time to expiry (in years)			3 years 7 months 6 days
Volatility (in percent)			57.00%
Risk free rate of return (in percent)			4.40%
Sponsor Earnout
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Time to expiry (in years)			3 years 7 months 6 days
Volatility (in percent)			57.00%
Risk free rate of return (in percent)			4.40%
$8.63 Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Time to expiry (in years)			3 years 7 months 6 days
Volatility (in percent)			52.00%
Risk free rate of return (in percent)			4.40%
Warrant price (in usd per share)				$ 8.63	$ 11.50

v3.23.3

Fair Value Measurements and Financial Instruments - Reconciliation of Level 3 Fair Value Measurements of Financial Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Warrant Liability | Liberty Warrants and Liberty Advisory Fee Warrant
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 6,191	$ 0
Issues		30,853
Remeasurement (gain)/loss	(3,852)	(15,476)
Write-off of deferred costs		0
Settlements		0
Ending balance	2,339	15,377
Warrant Liability | PIPE Warrant liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	311	0
Issues		1,312
Remeasurement (gain)/loss	(202)	(360)
Write-off of deferred costs		0
Settlements		0
Ending balance	109	952
Warrant Liability | Columbia Warrant
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	143,237
Issues		0
Remeasurement (gain)/loss	0	(18,635)
Write-off of deferred costs		203
Settlements		(124,805)
Ending balance	0	0
Sponsor Earnout
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,353	0
Issues		8,022
Remeasurement (gain)/loss	(849)	(4,911)
Write-off of deferred costs		0
Settlements		0
Ending balance	504	3,111
Forfeiture Earnout
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	0
Issues		6,135
Remeasurement (gain)/loss	0	(5,130)
Write-off of deferred costs		0
Settlements		(1,005)
Ending balance	0	0
Cantor Loan
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	7,522
Issues		0
Remeasurement (gain)/loss	0	489
Write-off of deferred costs		0
Settlements		(8,011)
Ending balance	$ 0	$ 0

v3.23.3

Related Parties - Notes Debt Balances and Associated Finance Cost from Related Parties (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Convertible notes from related parties
Related Party Transaction [Line Items]
Interest expense on amounts owed to related parties	$ 0	$ 44

v3.23.3

Related Parties - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Accounts payable	$ 4,611	$ 9,850
Equity method investee
Schedule of Equity Method Investments [Line Items]
Accounts payable	800
Purchases From OS
Schedule of Equity Method Investments [Line Items]
Acquire equity method investments	$ 1,400

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