SATL (SATL) financial statements
SATL reported revenue of $18M in fiscal 2025, up 42.9% a year over 4 years.
Net income was -$5M.
Free cash flow was -$34M.
The diluted share count rose 737% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SATL's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | — | $0 | $4M | $6M | $10M | $13M | $18M |
| Cost of revenue | — | $0 | $2M | $3M | $5M | $5M | $5M |
| Gross profit | — | — | — | — | $5M | $8M | $13M |
| Research and development | $6M | $6M | $10M | $13M | $11M | $8M | $5M |
| Selling, general and admin | $4M | $8M | $37M | $37M | $35M | $33M | $26M |
| Operating income | -$21M | -$22M | -$69M | -$91M | -$69M | -$52M | -$31M |
| Interest expense | $4M | $43,000 | $10M | $2M | $0 | — | — |
| Pre-tax income | -$21M | -$21M | -$97M | -$32M | -$52M | -$113M | -$4M |
| Income tax | $83,000 | $148,000 | -$232,000 | $5M | $9M | $3M | $673,000 |
| Net income | -$21M | -$22M | -$96M | -$37M | -$61M | -$116M | -$5M |
| EPS (diluted) | — | -$1.34 | -$5.78 | -$0.66 | -$0.68 | -$1.28 | -$0.18 |
| Diluted shares | — | 16M | 17M | 84M | 90M | 91M | 134M |
| Gross margin | — | — | — | — | 49.8% | 61.0% | 72.5% |
| Operating margin | — | — | -1616.1% | -1511.4% | -688.9% | -405.6% | -175.2% |
| Net margin | — | — | -2267.6% | -609.5% | -605.7% | -903.4% | -27.0% |
Balance sheet
Fiscal years, from SATL's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $25M | $17M | $9M | $77M | $23M | $22M | $94M |
| Receivables | — | $4,000 | $1M | $1M | $901,000 | $1M | $9M |
| Inventory | — | — | — | — | — | $0 | $2M |
| Total current assets | — | $18M | $12M | $81M | $27M | $28M | $115M |
| Property, plant and equipment | — | $35M | $33M | $48M | $41M | $27M | $25M |
| Total assets | — | $55M | $50M | $144M | $76M | $62M | $151M |
| Total current liabilities | — | $131M | $284M | $30M | $21M | $35M | $23M |
| Long-term debt | — | $34M | $108M | — | — | — | — |
| Total liabilities | — | $172M | $289M | $38M | $25M | $115M | $91M |
| Shareholders' equity | -$5M | -$26M | -$261M | $106M | $52M | -$53M | $61M |
| Net debt | -$25M | -$17M | $100M | -$77M | -$23M | -$22M | -$94M |
Cash flow
Fiscal years, from SATL's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$14M | -$11M | -$28M | -$68M | -$50M | -$36M | -$27M |
| Capital spending | $8M | $16M | $11M | $27M | $15M | $5M | $7M |
| Free cash flow | -$22M | -$27M | -$40M | -$96M | -$64M | -$41M | -$34M |
| Stock-based compensation | $959,000 | $2M | $11M | $8M | $6M | $2M | $4M |
| Share buybacks (net) | — | $0 | $0 | -$9M | $0 | — | — |
| Net borrowing | $27M | $17M | $8M | $0 | $0 | — | — |
| Free cash flow margin | — | — | -934.1% | -1592.0% | -639.8% | -318.0% | -193.5% |
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Open SATL in InvestinglyQuestions
What was SATL's revenue in 2025?
$18M in fiscal 2025, from its 10-K filing.
How much free cash flow does SATL generate?
-$34M in fiscal 2025 (operating cash flow minus capital spending).
From SATL's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.