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Side-by-side financial comparison of Satellogic Inc. (SATL) and Virgin Galactic Holdings, Inc (SPCE). Click either name above to swap in a different company.
Satellogic Inc. is the larger business by last-quarter revenue ($6.2M vs $4.2M, roughly 1.5× Virgin Galactic Holdings, Inc). Satellogic Inc. runs the higher net margin — 488.0% vs -2222.2%, a 2710.1% gap on every dollar of revenue. Satellogic Inc. produced more free cash flow last quarter ($-12.8M vs $-113.5M).
Satellogic Inc. is an American company specializing in Earth-observation satellites, founded in 2010 by Emiliano Kargieman and Gerardo Richarte.
Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited.
SATL vs SPCE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2024
| Metric | | |
|---|---|---|
| Revenue | $6.2M | $4.2M |
| Net Profit | $30.5M | $-93.8M |
| Gross Margin | — | -546.6% |
| Operating Margin | -114.2% | -2412.1% |
| Net Margin | 488.0% | -2222.2% |
| Revenue YoY | — | 125.5% |
| Net Profit YoY | — | 30.2% |
| EPS (diluted) | $0.24 | $-4.36 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $6.2M | — | ||
| Q3 25 | $3.6M | — | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $3.4M | — | ||
| Q2 24 | $3.5M | $4.2M | ||
| Q1 24 | — | $2.0M | ||
| Q4 23 | — | $2.8M | ||
| Q3 23 | — | $1.7M |
| Q4 25 | $30.5M | — | ||
| Q3 25 | $4.0M | — | ||
| Q2 25 | $-6.7M | — | ||
| Q1 25 | $-32.6M | — | ||
| Q2 24 | $-18.1M | $-93.8M | ||
| Q1 24 | — | $-102.0M | ||
| Q4 23 | — | $-104.0M | ||
| Q3 23 | — | $-104.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | -546.6% | ||
| Q1 24 | — | -1038.1% | ||
| Q4 23 | — | -766.4% | ||
| Q3 23 | — | -1384.3% |
| Q4 25 | -114.2% | — | ||
| Q3 25 | -222.5% | — | ||
| Q2 25 | -141.6% | — | ||
| Q1 25 | -280.9% | — | ||
| Q2 24 | -419.2% | -2412.1% | ||
| Q1 24 | — | -5599.9% | ||
| Q4 23 | — | -4067.8% | ||
| Q3 23 | — | -6613.0% |
| Q4 25 | 488.0% | — | ||
| Q3 25 | 109.2% | — | ||
| Q2 25 | -149.8% | — | ||
| Q1 25 | -961.9% | — | ||
| Q2 24 | -517.0% | -2222.2% | ||
| Q1 24 | — | -5139.1% | ||
| Q4 23 | — | -3701.8% | ||
| Q3 23 | — | -6053.5% |
| Q4 25 | $0.24 | — | ||
| Q3 25 | $-0.02 | — | ||
| Q2 25 | $-0.06 | — | ||
| Q1 25 | $-0.34 | — | ||
| Q2 24 | $-0.20 | $-4.36 | ||
| Q1 24 | — | $-5.10 | ||
| Q4 23 | — | $-14.49 | ||
| Q3 23 | — | $-5.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $94.4M | $775.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $60.5M | $394.8M |
| Total Assets | $151.3M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.4M | — | ||
| Q3 25 | $28.3M | — | ||
| Q2 25 | $32.6M | — | ||
| Q1 25 | $17.7M | — | ||
| Q2 24 | $25.6M | $775.7M | ||
| Q1 24 | — | $765.2M | ||
| Q4 23 | — | $874.0M | ||
| Q3 23 | — | $997.1M |
| Q4 25 | $60.5M | — | ||
| Q3 25 | $-56.9M | — | ||
| Q2 25 | $-68.1M | — | ||
| Q1 25 | $-83.1M | — | ||
| Q2 24 | $19.1M | $394.8M | ||
| Q1 24 | — | $417.6M | ||
| Q4 23 | — | $505.5M | ||
| Q3 23 | — | $599.4M |
| Q4 25 | $151.3M | — | ||
| Q3 25 | $70.9M | — | ||
| Q2 25 | $73.8M | — | ||
| Q1 25 | $61.4M | — | ||
| Q2 24 | $76.6M | $1.1B | ||
| Q1 24 | — | $1.1B | ||
| Q4 23 | — | $1.2B | ||
| Q3 23 | — | $1.3B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-9.5M | $-79.1M |
| Free Cash FlowOCF − Capex | $-12.8M | $-113.5M |
| FCF MarginFCF / Revenue | -204.9% | -2690.7% |
| Capex IntensityCapex / Revenue | 53.6% | 815.5% |
| Cash ConversionOCF / Net Profit | -0.31× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-34.3M | $-458.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.5M | — | ||
| Q3 25 | $-8.4M | — | ||
| Q2 25 | $-4.3M | — | ||
| Q1 25 | $-4.7M | — | ||
| Q2 24 | — | $-79.1M | ||
| Q1 24 | — | $-113.2M | ||
| Q4 23 | — | $-95.3M | ||
| Q3 23 | — | $-91.5M |
| Q4 25 | $-12.8M | — | ||
| Q3 25 | $-9.7M | — | ||
| Q2 25 | $-5.1M | — | ||
| Q1 25 | $-6.6M | — | ||
| Q2 24 | — | $-113.5M | ||
| Q1 24 | — | $-126.3M | ||
| Q4 23 | — | $-113.7M | ||
| Q3 23 | — | $-104.8M |
| Q4 25 | -204.9% | — | ||
| Q3 25 | -267.2% | — | ||
| Q2 25 | -115.3% | — | ||
| Q1 25 | -195.9% | — | ||
| Q2 24 | — | -2690.7% | ||
| Q1 24 | — | -6362.8% | ||
| Q4 23 | — | -4046.9% | ||
| Q3 23 | — | -6066.1% |
| Q4 25 | 53.6% | — | ||
| Q3 25 | 36.8% | — | ||
| Q2 25 | 17.5% | — | ||
| Q1 25 | 56.5% | — | ||
| Q2 24 | — | 815.5% | ||
| Q1 24 | — | 658.5% | ||
| Q4 23 | — | 653.9% | ||
| Q3 23 | — | 771.1% |
| Q4 25 | -0.31× | — | ||
| Q3 25 | -2.11× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SATL
| Transferred At Point In Time | $5.7M | 91% |
| Other | $547.0K | 9% |
SPCE
Segment breakdown not available.
