BLACKSKY REPORTS THIRD QUARTER 2024 RESULTS Company Receives New Awards Valued up to $780 Million YTD Revenue Growth of 22%; Company Reaffirms Full Year 2024 Guidance First Gen-3 Satellite Completing Final Pre-Ship Testing HERNDON, VA – November 7, 2024 – BlackSky Technology Inc. ("BlackSky" or the "Company") (NYSE: BKSY) announced results for the third quarter ended September 30, 2024. Third Quarter Financial Highlights: • Revenue of $22.5 million, up 6% from the prior year quarter • Imagery & software ana ...

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]

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 ...

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 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 ...

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 ...

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 ...

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 ...

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 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 ...