BlackSky Technology (BKSY)

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3 Breakthrough Stocks Leading the Next Tech Revolution
The Motley Fool· 2024-11-07 11:45
Group 1: Quantum Computing - IonQ leads the quantum computing revolution with trapped-ion technology, achieving industry-leading performance with 35 algorithmic qubits [3] - Strategic partnerships with Microsoft, Alphabet, and Amazon validate IonQ's commercialization approach, with multiple Department of Defense contracts highlighting its role in AI and next-generation computing [4] - IonQ trades at over 95x trailing-12-month sales, reflecting a premium for its leadership in a potential $1 trillion market by the middle of the next decade [5] Group 2: Satellite Intelligence - BlackSky Technology combines satellite imaging with high-speed analytics, delivering real-time intelligence typically within 90 minutes [5] - The company has secured $1.3 billion in contracts from U.S. and international government agencies, establishing its platform as essential for modern intelligence gathering [6] - BlackSky trades at just 1.2x trailing revenue, presenting a value opportunity in the high-demand intelligence sector [7] Group 3: Electric Aviation - Joby Aviation is pioneering urban air transportation with its electric vertical takeoff aircraft, aiming for speeds up to 200 miles per hour with zero emissions by 2025 [8] - Toyota has invested an additional $500 million in Joby, bringing its total stake to $894 million, and the companies have formed a strategic alliance for commercial manufacturing [9] - Joby reported $825 million in cash last quarter and is approaching a production capacity of one aircraft per month, positioning itself well for the emerging air taxi market [10] Group 4: Overall Industry Outlook - The three companies represent ambitious investments in transformative technologies, each demonstrating promising technology and securing major strategic partnerships [11] - IonQ, BlackSky, and Joby have the potential to reshape computing, intelligence gathering, and urban transportation, offering exposure to markets that could create trillions in value over the next decade [12]
Wall Street Analysts See a 134.17% Upside in BlackSky Technology (BKSY): Can the Stock Really Move This High?
ZACKS· 2024-11-06 15:55
Shares of BlackSky Technology Inc. (BKSY) have gained 25% over the past four weeks to close the last trading session at $7.20, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $16.86 indicates a potential upside of 134.2%.The average comprises seven short-term price targets ranging from a low of $10 to a high of $32, with a standard deviation of $8.23. While the lowest estimate i ...
Bull Of The Day: BlackSky Technology (BKSY)
ZACKS· 2024-11-01 16:35
Core Viewpoint - BlackSky Technology (BKSY) is recognized as a strong buy with a focus on growth despite having a low value rating, indicating potential for future performance in the geospatial intelligence sector [1] Company Overview - BlackSky Technology, Inc. specializes in real-time imagery, analytics, and high-frequency monitoring of critical locations and events, serving both government and commercial clients [2] Earnings History - The company has a solid earnings history, surpassing Zacks Consensus estimates in three of the last four quarters, with an average positive earnings surprise of 10.7% [4] Earnings Estimates Revisions - Recent revisions show improvements in earnings estimates, with the current quarter's loss projected to decrease from $0.70 to $0.61, and the next quarter's loss from $0.42 to $0.29 [4][5] - Full year fiscal 2024 loss estimates have improved from $2.60 to $2.33, while next year's loss is expected to decrease from $1.72 to $1.20 [5] Growth Projections - For fiscal 2024, BlackSky is expected to achieve 14% growth with projected sales of $107.7 million, and for the following year, sales are anticipated to reach $134.4 million, reflecting a growth rate of 24.75% [5] Valuation Metrics - The company has a price-to-book ratio of 1.7x and a price-to-sales ratio of 1.2x, indicating potential value for investors [6] - Although margins are currently negative, significant improvements are expected in the coming quarters, with potential moves of 5,000 to 8,000 basis points [6]
BlackSky Technology (BKSY) Soars 6.1%: Is Further Upside Left in the Stock?
ZACKS· 2024-10-25 12:35
BlackSky Technology Inc. (BKSY) shares soared 6.1% in the last trading session to close at $6.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 50.7% gain over the past four weeks. The stock is benefiting from rising demand for the company's imagery and analytic services as customers use high-frequency and low-latency BlackSky data in their daily operations. This company is expected to post quarterly loss of $0.61 per share in ...
Wall Street Analysts Think BlackSky Technology (BKSY) Could Surge 175.94%: Read This Before Placing a Bet
ZACKS· 2024-10-21 14:55
Shares of BlackSky Technology Inc. (BKSY) have gained 7.2% over the past four weeks to close the last trading session at $6.11, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $16.86 indicates a potential upside of 175.9%.The mean estimate comprises seven short-term price targets with a standard deviation of $8.23. While the lowest estimate of $10 indicates a 63.7% increase from ...
Strength Seen in BlackSky Technology (BKSY): Can Its 8.8% Jump Turn into More Strength?
ZACKS· 2024-10-07 13:31
BlackSky Technology Inc. (BKSY) shares soared 8.8% in the last trading session to close at $5.43. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 29.4% loss over the past four weeks. The stock is benefiting from the rising demand for differentiated space-based intelligence solutions from new and existing government customers across the globe. This company is expected to post quarterly loss of $0.61 per share in its upcoming repor ...
Stonegate Updates Coverage on BlackSky Technology, Inc. (BKSY) 2Q24
Newsfile· 2024-08-09 13:19
Dallas, Texas--(Newsfile Corp. - August 9, 2024) - BlackSky Technology, Inc. (NYSE: BKSY): Stonegate Capital Partners updates their coverage on BlackSky Technology, Inc. (NYSE: BKSY). To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways: Revenue increased 29% year over year Awarded a $7.0M new contract Gen 3 satellites on track to begin launching in 4Q24 Click image above to view full announcement. About Stonegate Stonegate Capital Partners is a leading cap ...
BlackSky Technology (BKSY) - 2024 Q2 - Quarterly Report
2024-08-08 20:15
Satellite Operations and Technology - BlackSky operates a high-performance low earth orbit small satellite constellation capable of imaging critical locations approximately every 90 minutes, providing situational awareness throughout the day [83]. - The company expects to launch its next generation satellites (Gen-3) in Q4 2024, which will enhance imaging resolution and include short wave infrared technology for improved performance in low-light conditions [83]. - The company employs proprietary AI and machine learning techniques to analyze data from its satellite constellation and third-party sources, enhancing the value of its analytics offerings [83]. - The company emphasizes the importance of its satellite constellation and BlackSky Spectra platform as mutually reinforcing assets that enhance customer value [83]. Revenue Generation and Growth - Revenue is generated from imagery and software analytics services, with a focus on subscription contracts and usage-based pricing, allowing flexibility for customers [85]. - BlackSky anticipates continued revenue growth year over year due to increased sales orders from both new and existing customers [88]. - Professional and engineering services revenue is expected to contribute meaningfully, primarily from contracts with U.S. and international defense and intelligence customers [88]. - BlackSky's services target various commercial markets, including energy, insurance, logistics, and agriculture, indicating potential for market expansion [85]. - Total revenue for the three months ended June 30, 2024, was $24,938 thousand, a 29.0% increase from $19,327 thousand in the same period of 2023 [93]. - Imagery & software analytical services revenue increased by 14.0% to $17,469 thousand for the three months ended June 30, 2024, compared to $15,328 thousand in 2023 [93]. - Professional & engineering services revenue surged by 86.8% to $7,469 thousand for the three months ended June 30, 2024, up from $3,999 thousand in 2023 [93]. Financial Performance - Operating loss improved to $(11,721) thousand for the three months ended June 30, 2024, a 41.2% reduction from $(19,919) thousand in the same period of 2023 [93]. - Net loss decreased to $(9,397) thousand for the three months ended June 30, 2024, compared to $(33,431) thousand in 2023, reflecting a 71.9% improvement [93]. - Adjusted EBITDA for the three months ended June 30, 2024, was $2.1 million, compared to an adjusted EBITDA loss of $5.8 million in the same period last year [114]. - For the three months ended June 30, 2024, the net loss was $9.4 million, a significant improvement from a net loss of $33.4 million for the same period in 2023 [114]. Operating Expenses and Investments - Operating expenses include selling, general, and administrative costs, as well as research and development expenses related to the BlackSky Spectra software platform [90]. - The company plans to continue investing in research and development to maintain its competitive position [91]. - Research and development expenses increased by 62.5% to $286 thousand for the three months ended June 30, 2024, compared to $176 thousand in 2023 [93]. - Selling, general, and administrative expenses decreased by $554,000 (3.0%) for the three months ended June 30, 2024, compared to the same period in 2023, primarily due to lower corporate insurance premiums and reduced headcount [100]. - Salaries and benefits costs decreased by $352,000 (3.3%) for the three months ended June 30, 2024, compared to the same period in 2023 [100]. - Stock-based compensation expense increased by $75,000 (3.5%) for the three months ended June 30, 2024, compared to the same period in 2023 [100]. Cash Flow and Financial Position - As of June 30, 2024, cash and cash equivalents totaled $25.6 million, down from $32.8 million as of December 31, 2023 [115]. - The company had an accumulated deficit of $624.2 million as of June 30, 2024 [115]. - Current assets as of June 30, 2024, were $82.4 million, while current liabilities were $19.7 million, indicating sufficient working capital [119]. - Net cash used in operating activities for the six months ended June 30, 2024, was $5.6 million, a decrease from $15.6 million in the same period in 2023 [122]. - The company raised $2.9 million from equity issuances in the six months ended June 30, 2024, compared to $29.4 million in the same period in 2023 [126]. Contract and Revenue Recognition - Revenue is classified into imagery and software analytical services, and professional and engineering services based on performance obligations [130]. - Imagery and analytics revenue is recognized ratably over the subscription period, while professional services revenue is recognized based on time and materials or fixed-price contracts [131]. - Changes in estimates for contract profitability can lead to recognition of revenue in the current period for prior performance obligations [131]. - The estimation of total costs at completion for contracts requires significant judgment and can affect revenue recognition [131]. Financial Instruments and Valuation - Equity-based compensation includes stock options, restricted stock awards, and restricted stock units, with fair values estimated using the Black-Scholes model [133]. - Private Placement Warrants and Sponsor Shares are classified as long-term liabilities and recorded at fair value, requiring inputs such as stock price and risk-free interest rate [136]. - The fair value of financial instruments is re-measured at each reporting date, impacting gain or loss on derivatives [136].
BlackSky Technology (BKSY) - 2024 Q2 - Earnings Call Transcript
2024-08-08 18:39
BlackSky Technology Inc. (NYSE:BKSY) Q2 2024 Earnings Conference Call August 8, 2024 8:30 AM ET Company Participants Aly Bonilla - Vice President of Investor Relations Brian O'Toole - Chief Executive Officer Henry Dubois - Chief Financial Officer Conference Call Participants Greg Burns - Sidoti & Co. Edison Yu - Deutsche Bank Max Michaelis - Lake Street Scott Buck - H.C. Wainwright Dave Storms - Stonegate Josh Sullivan - The Benchmark Company Daniel Hibshman - Craig-Hallum Capital Group Chris Quilty - Quilt ...
BlackSky Technology (BKSY) - 2024 Q2 - Earnings Call Presentation
2024-08-08 14:59
BLACK(SKY August 8, 2024 BLACKSKY Q2 2024 EARNINGS WEBCAST © BlackSky 2024. All rights reserved. Public information. 1 Legal Disclaimers FORWARD-LOOKING STATEMENTS Certain statements in this presentation may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. Words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "wil ...