NEW YORK - Satellogic Inc. (NASDAQ: SATL), a prominent player in high-resolution satellite imagery valued at $357 million, has announced the expansion of its commercial partnership with SynMax, a U.S.-based satellite data analytics firm. The company's stock has surged over 117% in the past week, reflecting strong investor interest. According to InvestingPro analysis, the stock is currently trading above its Fair Value. The enhanced collaboration will see a tripling of oil and natural gas wellhead coverage in North America, monitored via SynMax's Hyperion platform.
With this agreement, Satellogic will provide imagery for more than 100 wellheads multiple times per week, enabling SynMax to offer near real-time insights into drilling rig and frac crew activity. This service aims to provide financial analysts and hedge funds with a competitive edge by delivering timely and accurate production data. The company maintains impressive gross profit margins of nearly 60%, though InvestingPro data indicates it's currently burning through cash at a significant rate.
The partnership underscores SynMax's commitment to the financial sector, facilitating the tracking of new wellheads globally as they become operational. Satellogic's high-frequency and high-resolution satellite capabilities are positioned as a significant improvement over traditional monitoring methods, according to Mark Carmichael, Satellogic's VP of Sales.
Eric Anderson, co-founder and CTO of SynMax, emphasized the value of the partnership in driving investment intelligence, stating that the collaboration with Satellogic will bolster their ability to deliver actionable insights to clients.
Satellogic, established in 2010, aims to democratize access to geospatial data with its cost-effective Earth observation (EO) platform. The company's technology is designed to remap the planet at high frequency and resolution, supporting applications in climate change, energy supply, and food security.
SynMax, known for its satellite data analytics services, provides monitoring solutions for oil and gas assets and maritime intelligence. Its Hyperion platform is touted as the only near real-time frac crew monitor that observes daily frac activity across major U.S. oil and gas plays.
The expanded contract between the two companies is based on a press release statement and reflects Satellogic's ongoing efforts to enhance its EO services and SynMax's pursuit of providing advanced investment intelligence solutions. The company has demonstrated strong revenue growth of over 100% in the last twelve months. Investors seeking deeper insights can access 15+ additional exclusive ProTips and comprehensive financial analysis through InvestingPro.
In other recent news, Satellogic Inc., a high-resolution Earth observation data company, has been selected as one of eight recipients of NASA's Commercial SmallSat Data Acquisition Program (CSDA) On-Ramp 1 Multiple Award contract. This contract, which could total up to $476 million for all awardees, allows Satellogic to supply NASA with multispectral imagery until November 15, 2028. The CSDA On-Ramp 1 initiative aims to boost NASA's Earth observation capabilities by incorporating commercial satellite data, a move that could significantly impact understanding and addressing climate change, environmental trend monitoring, and enhancing applications that benefit society.
In addition to this, Satellogic has recently welcomed Kelly Kennedy to its Board of Directors and as the chair of the board's Audit Committee. Kennedy's extensive background in finance and operations is expected to enhance the company's strategic growth and financial governance. This development follows the retirement of Brad Halverson from the board and his role as chair of the Audit Committee. These recent developments continue to shape the trajectory of Satellogic Inc., as it remains committed to providing accessible and actionable geospatial data.
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