By Emon Reiser

Shares of Satellogic lost altitude after the Earth observation satellite company released unaudited preliminary financial results and said it plans to raise cash in a sale of its common stock.

The stock fell 14% to $3.54 in after-hours trading after the company said it expects to report revenue between $3.4 million and $3.8 million for the quarter ended Sept. 30.

Satellogic said its cash on hand was $28.3 million as of Sept. 30.

The company also said Wednesday it intends to offer and sell shares of its Class A common stock in an underwritten public offering.

Satellogic intends to use the proceeds from the stock offering for general corporate purposes.

The offering is subject to market conditions, according to the company, and therefore there can be no assurance as to whether or when the offering may be completed, or as to actual size or terms of the offering.

Cantor and Titan Partners Group are joint bookrunning managers of the offering.

Write to Emon Reiser at emon.reiser@wsj.com

(END) Dow Jones Newswires

October 15, 2025 18:59 ET (22:59 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.