BlackSky Technology Inc. (NYSE:BKSY) Q1 2024 Earnings Conference Call May 8, 2024 8:30 AM ET Company Participants Aly Bonilla - VP of IR Brian O'Toole - CEO Henry Dubois - CFO Conference Call Participants Greg Burns - Sidoti & Co Edison Yu - Deutsche Bank Jaeson Schmidt - Lake Street Josh Sullivan - The Benchmark Company Jeff Van Rhee - Craig Hallum Caleb Henry - QuiltySpace Scott Buck - H.C. Wainwright Chris Quilty - QuiltySpace Operator Please stand by we're about to begin. Good day, ladies and gentlemen, ...

BlackSky Technology Inc. (BKSY) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.08. This compares to loss of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -37.50%. A quarter ago, it was expected that this company would post a loss of $0.09 per share when it actually produced a loss of $0.05, delivering a surprise of 44.44%.Over the last four quarters, the company ha ...

Financial Performance - Total revenue for Q1 2024 was $24.2 million, representing a 32% increase from $18.4 million in Q1 2023[5] - Imagery and software analytical services revenue grew 13% year-over-year to $17.8 million[6] - Professional and engineering services revenue surged 143% to $6.4 million, driven by new customer wins and major international contracts[6] - Net loss for Q1 2024 was $15.8 million, an improvement from a net loss of $17.3 million in Q1 2023[8] - Adjusted EBITDA for Q1 2024 was $1.4 million, compared to an Adjusted EBITDA loss of $4.1 million in Q1 2023[9] Cost Management - Cost of sales as a percentage of revenue improved to 29% in Q1 2024 from 35% in Q1 2023[3] - Cash operating expenses for the three months ended March 31, 2024, were $16,124 million, slightly down from $16,428 million in the same period of 2023[28] Cash Flow and Assets - Cash and cash equivalents dropped significantly from $32,815 million to $14,965 million, representing a decrease of about 54.4%[24] - Cash flows from operating activities showed a net cash used of $3,810 million for the three months ended March 31, 2024, compared to $16,602 million for the same period in 2023, indicating improved cash flow management[25] - Total current assets decreased from $79,331 million as of December 31, 2023, to $69,358 million as of March 31, 2024, a decline of approximately 12.4%[24] Liabilities and Debt - Total liabilities decreased from $130,907 million as of December 31, 2023, to $128,400 million as of March 31, 2024, a reduction of about 1.9%[24] - Long-term debt rose from $83,502 million to $84,695 million, an increase of about 1.4%[24] Contracts and Future Outlook - The company secured $30 million in new contracts and renewal agreements during the quarter[1] - The company maintains its full-year 2024 revenue outlook of $102 million to $118 million[12] - BlackSky plans to launch its Gen-3 imaging and analytic capabilities later this year[1] Depreciation and Amortization - The company reported a significant increase in depreciation and amortization expense from $9,655 million in Q1 2023 to $11,184 million in Q1 2024, an increase of approximately 15.8%[25] Contract Assets - Contract assets increased from $15,213 million to $24,134 million, reflecting a growth of approximately 58.8%[24]

The market expects BlackSky Technology Inc. (BKSY) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to ...

Basis for Opinion PART I. FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS | --- | --- | --- | --- | --- | |--------------------------------------------------------------------------------------------------------|-------|----------------------|----------|------------| | | | Years Ended \n2023 | December | 31, \n2022 | | Revenue | | | | | | Imagery & software analytical services | $ | 65,391 | $ | 47,415 | | Professional & engineering services | | 29,101 | | 17,935 | | Total revenue | | 94,492 | | 65,350 | ...

HERNDON, Va.--(BUSINESS WIRE)--BlackSky Technology Inc. (NYSE: BKSY) won a competitive $24 million Air Force Research Laboratory (AFRL) ceiling contract to develop and demonstrate moving target engagement services. “BlackSky’s software-first, AI approach will add depth and scale to commercial space-based moving target detection, tracking and identification at machine speed,” said Brian E. O’Toole, BlackSky CEO. Using the BlackSky Spectra® tasking and analytics platform, the company will use its own and ...

HERNDON, Va.--(BUSINESS WIRE)--BlackSky Technology Inc. (NYSE: BKSY) was nominated for Via Satellite’s 2023 Satellite Technology of the Year Award for BlackSky Spectra, the company's industry-leading tasking, AI and automated analytics platform. "BlackSky was founded on the principle that real-time intelligence requires a software-first mindset,” said Brian E. O’Toole, BlackSky CEO. “With Spectra customers task and receive imagery and AI-driven detection analytics in under 90 min from collection. Togethe ...

When it comes to building wealth, most financial advisors will eschew stocks for aggressive growth in favor of the Warren Buffett approach; that is, investing in proven but undervalued enterprises with relatively predictable business trajectories.However, not all of us are blessed with the Oracle of Omaha’s genetics. I mean, I’m not sure how Buffett manages to down his soft drinks and eat his confectionaries without suffering undue consequences. For many of us, we’ve got to get wealth quickly. For this fram ...

HERNDON, Va.--(BUSINESS WIRE)--BlackSky Technology Inc. (NYSE: BKSY) won a multi-million dollar contract in support of the U.S. Department of Defense to collect and annotate thousands of BlackSky multi-frame burst images to train moving target artificial intelligence models for commercial motion imagery. “We are taking BlackSky’s industry-leading ability to monitor moving objects from space another step forward by enhancing analytic accuracy and the ability to recognize patterns of life,” said Patrick O’ ...

BlackSky Technology, Inc. (NYSE:BKSY) Q4 2023 Earnings Conference Call February 28, 2024 8:30 AM ET Company Participants Aly Bonilla - Vice President, Investor Relations Brian O’Toole - Chief Executive Officer Henry Dubois - Chief Financial Officer Conference Call Participants Jaeson Schmidt - Lake Street Edison Yu - Deutsche Bank Josh Sullivan - Benchmark Company Greg Burns - Sidoti Jeff Van Rhee - Craig-Hallum Capital Group Chris Quilty - Quilty Space Operator Good morning, ladies and gentlemen and welcom ...