Satellogic Inc.
SATL Industrials Aerospace & Defense
Satellogic Inc.’s revenue for fiscal 2025 (year ended December 2025) was $17.7 million, up 37.6% from fiscal 2024. In the quarter to June 2026, revenue grew 258.5%, EPS fell 116.7%, free cash flow fell 178.7% and total debt fell 8.17%, each against the same quarter a year earlier. Revenue growth for three consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
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Satellogic Inc. (SATL) Piotroski F-score
Satellogic Inc.'s Piotroski F-score for fiscal 2025 is 4 out of 9: 4 of nine tests of profitability, leverage and efficiency passed, up from 3 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 4 | 1.00 |
| FY2024 | 3 | (1.00) |
| FY2023 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (4.49%) | (168.42%) | Fail | 0 |
| Positive operating cash flow | (26.89m) | (35.89m) | Fail | 0 |
| Rising return on assets | (4.49%) | (168.42%) | Pass | 1 |
| Cash flow above net income | (22.10m) | 80.38m | Fail | 0 |
| Falling long-term leverage | 0.53 | 1.15 | Pass | 1 |
| Rising current ratio | 5.12 | 0.80 | Pass | 1 |
| No new shares issued | 109,134,000 | 91,164,000 | Fail | 0 |
| Rising gross margin | 72.46% | 60.96% | Pass | 1 |
| Rising asset turnover | 0.17 | 0.19 | Fail | 0 |
| Piotroski F-score | Mixed | 4 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| PKE Park Aerospace Corp. compare | 9 |
| SWBI Smith & Wesson Brands, Inc. compare | 8 |
| TATT TAT Technologies Ltd. compare | 6 |
| RGR Sturm, Ruger & Company, Inc. compare | 5 |
| SATL Satellogic Inc. | 4 |
| SPCE Virgin Galactic Holdings, Inc. compare | 3 |
| NPK National Presto Industries, Inc. compare | 3 |
| RCAT Red Cat Holdings, Inc. compare | — |
| EVEX Eve Holding, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover