Exhibit 12.1 EarthWatch Incorporated Computation of Ratio of Earnings to Fixed Charges Period From January 1, 1995 (Inception) to Year Ended December 31, December 31, ---------------------------------------------------------------- 1996 1997 1998 1999 2000 2000 ----------- ----------- ----------- ----------- ----------- ----------- (in thousands) Pre-tax income (loss) $ (23,706) $ (50,731) $ (12,920) $ (20,319) $ 79,682 $ (31,903) Fixed charges: Interest expense $ 63 $ 86 $ 1,340 $ 5,482 $ 4,492 $ 11,489 Capitalized interest 145 5,670 6,056 11,340 24,329 47,540 Rent 312 410 341 385 470 2,023 ----------- ----------- ----------- ----------- ----------- ----------- Total fixed charges $ 520 $ 6,166 $ 7,737 $ 17,207 $ 29,291 $ 61,052 =========== =========== =========== =========== =========== =========== Earnings, as defined $ (23,331) $ (50,235) $ (11,239) $ (14,452) $ 84,644 $ (18,391) =========== =========== =========== =========== =========== =========== Ratio of earnings to fixed charges -- -- -- -- 2.89x -- Deficiency of earnings to fixed charges $ (23,851) $ (56,401) $ (18,976) $ (31,659) $ -- $ (79,443)