Satellogic Inc. (SATL) experienced a significant intraday surge of 7.45% on Tuesday, as the stock soared following a major business development announcement.

The sharp upward movement was driven by the company securing a substantial contract valued at more than $18 million with an international defense customer for persistent Earth observation monitoring services. The one-year agreement represents a rapid expansion from an initial trial to full-scale deployment in under six months, highlighting strong customer demand and Satellogic's operational readiness.

According to the company's announcement, the contract involves daily monitoring of multiple points of interest through its NewSat constellation, with service targets including high-frequency coverage and tasking-to-delivery in under three hours. This deal supports Satellogic's strategic shift toward productized, subscription-style intelligence delivery for defense and government customers worldwide, providing a meaningful revenue boost and positive catalyst for the business.