BKSY
BlackSky Technology Inc.17.97
+0.45+2.57%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Sovereign pipeline booms globally
Q&A spotlighted the sovereign mission solutions pipeline, with management eyeing deals across regions as over 60 countries—up from under 15 five years ago—build space capabilities, though lumpy and on 12-18 month sales cycles. They aim for 8-9 Gen-3 satellites on orbit by end-2026, dismissing early delays as typical while stressing customer adoption over sheer count. Guidance embeds strong backlog visibility for the low end but stays conservative on U.S. EOCL funding into Q2. Segment mix tilts 60-70% to intelligence/AI services. No walk-backs; just color on ramping intl demand. Pipeline exploding worldwide.
Key Stats
Market Cap
646.79MP/E (TTM)
-Basic EPS (TTM)
-2.73Dividend Yield
0%Recent Filings
10-K
FY2025 results
BlackSky's FY2025 revenue rose 4.4% to $106.6M, with mission solutions exploding 258% to $21.2M on a key satellite delivery contract, offsetting a 7% dip in space-based intelligence & AI services to $65.1M from reduced NRO volume. Q4 momentum built through Gen-3 satellite launches and LeoStella vertical integration, cutting satellite depreciation 53% as Gen-2 assets fully depreciated while new capacity ramps. Operating loss widened slightly to $46.9M amid $13M SG&A growth from acquisition costs, yet Adjusted EBITDA swung positive at $0.9M. Cash swelled to $125.6M post-$185M convertible notes issuance, funding sovereign missions and AROS expansion. Government contract funding delays threaten quarterly cadence.
8-K
Q4 revenue up 16%
BlackSky reported preliminary Q4 revenue of $35.2 million, up 16% year-over-year from Gen-3 satellite delivery and new contracts, narrowing net loss to $0.9 million while adjusted EBITDA hit $8.8 million. Full-year revenue reached $106.6 million with backlog surging 32% to $345 million on $240 million bookings, cash at $125.6 million. Gen-3 momentum strong. 2026 revenue outlook: $120-145 million.
8-K
ATM sales agreement signed
BlackSky Technology entered a Sales Agreement on December 12, 2025, with Deutsche Bank Securities and Craig-Hallum to sell up to $100 million of Class A common stock at market via at-the-market offerings. Agents earn up to 3.0% commission; either party can terminate with 10 days' notice. No sales obligation exists.
10-Q
Q3 FY2025 results
BlackSky's Q3 revenue dipped 13% y/y to $19.6M (derived), with imagery off 8.6% y/y to $15.8M while professional services fell 27.3% y/y to $3.8M from contract completions; YTD revenue held flat at $71.4M. Operating loss widened to $16.8M from $13.2M y/y, driven by higher SG&A, yet net loss narrowed to $15.3M thanks to $8.4M derivative gains. Cash equivalents hit $28.8M and short-term investments $117.7M, bolstered by $185M Convertible Notes (8.25%, due 2033) that refinanced prior debt; operating cash used $19.0M YTD. Liquidity stands firm. Government contract funding cuts pose risks.
8-K
Q3 revenue dips, contracts soar
BlackSky reported Q3 2025 revenue of $19.6 million, down from $22.5 million last year due to NRO's EOCL cuts and U.S. budget woes, yet snagged over $60 million in fresh contracts—91% international. Backlog hit $322.7 million; cash swelled to $147.6 million. International demand surges. Outlook holds firm.
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