BlackSky Technology Inc.
21.04-0.49 (-2.28%)
Oct 29, 4:00:02 PM EDT · NYSE · BKSY · USD
Key Stats
Market Cap
746.17MP/E (TTM)
-Basic EPS (TTM)
-2.98Dividend Yield
0%Recent Filings
8-K
Annual meeting results approved
BlackSky Technology Inc. held its 2025 annual meeting on September 10, electing Magid Abraham and David DiDomenico as Class I directors until 2028, with strong support for DiDomenico but notable withholding for Abraham. Shareholders ratified Deloitte & Touche LLP as auditors for the fiscal year ending December 31, 2025, and approved executive compensation on an advisory basis. They also favored annual say-on-pay votes, aligning with the board's recommendation. This routine governance approval signals steady investor confidence.
10-Q
Q2 FY2025 results
BlackSky's Q2 revenue dipped 11% y/y to $22.2M, driven by a 44% drop in professional and engineering services to $4.2M amid contract timing shifts, while imagery and software analytics held steady at $18.0M; y/y operating loss widened 19% to $13.9M as SG&A climbed 24% from LeoStella integration, yet gross costs fell 9% on maturing programs. Q/q, revenue edged up 2% from Q1's $29.5M (derived), with net loss ballooning to $41.2M or $1.27/share on $24.4M derivative losses—far exceeding the $13.9M operating shortfall, mainly from fair-value swings on warrants and sponsor shares. Cash swelled to $22.6M and short-term investments to $71.2M, bolstered by $40.9M in ATM equity raises; free cash flow turned positive at $9.0M (derived from $20.0M operating cash minus $11.0M capex). The November 2024 LeoStella buyout for $0.8M recognized $0.9M goodwill and $4.7M intangibles, enhancing Gen-3 supply chain control. Post-quarter, $185M convertible notes cleared legacy debt, freeing covenant constraints. Derivative volatility remains a key watchpoint.
8-K
BlackSky launches Gen-3 satellite
BlackSky Technology launched its second Gen-3 satellite on August 7, 2025, delivering very-high resolution imagery within 12 hours and enabling early access for new and existing customers. Total Q2 revenue dipped to $22.2 million from $24.9 million year-over-year, with imagery services up to $18.0 million, while professional services fell to $4.2 million due to contract timing; net loss widened to $41.2 million from a $24.4 million derivatives hit. The $185 million convertible note offering boosted pro forma cash over $170 million, paying off debt and funding six planned Gen-3 launches this year. Backlog stands at $356 million, mostly international.
8-K
BlackSky closes $185M notes offering
BlackSky Technology completed a $185 million private offering of 8.25% convertible senior notes due 2033 on July 22, 2025, yielding $177.9 million in net proceeds. The company used funds to repay and terminate its related party loan facility and revolver, while directing the rest to working capital, operating expenses, capital expenditures, and strategic investments. Holders can convert notes into shares at $36.78 initially, a 30% premium to the July 17 stock price. Yet dilution looms if conversions spike.
8-K
BlackSky narrows 2025 guidance
BlackSky Technology released preliminary Q2 2025 results showing $22.2 million in revenue, flat from $24.9 million last year due to steady Gen-2 satellite use but deferred upgrades until Gen-3 launches, while professional services dropped to $4.2 million from $7.5 million on contract timing. Cash swelled to $94.9 million, boosted by $90 million in equity raises, yet full-year revenue guidance narrowed to $105–130 million amid U.S. government budget woes. Adjusted EBITDA eyes breakeven to $10 million. Long-term growth targets hold firm.
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