Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $24.9 million, a 29% increase year-over-year, driven by strong demand for imagery and analytics services [19][6] - Adjusted EBITDA for Q2 2024 was $2.1 million, an increase of $7.9 million compared to the prior year, marking the third consecutive quarter of positive adjusted EBITDA [22][6] - Cash operating expenses were $16.3 million, a $500,000 improvement year-over-year, reflecting ongoing reductions in general corporate costs [21][6] Business Line Data and Key Metrics Changes - Imagery and analytics revenue grew to $17.5 million, a 14% increase year-over-year, primarily due to incremental customer orders [19][6] - Professional & Engineering Services revenue increased to $7.4 million, an 87% year-over-year increase, driven by the execution of major international contracts [19][6] Market Data and Key Metrics Changes - Revenues from international customers more than doubled year-over-year, now representing 40% of total business [12][6] - The company secured $40 million in new awards and extensions in Q2, indicating strong customer demand from both US and international government agencies [6][6] Company Strategy and Development Direction - The company is focused on expanding its customer base through the Global Data Marketplace (GDMP), which allows government agencies to quickly access commercial data and analytics services [10][6] - The Gen-3 satellite constellation is in the final stages of assembly, with the first satellite planned for launch in late Q4 2024, expected to enhance the company's service offerings significantly [15][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing demand for space-based intelligence solutions, particularly as geopolitical conditions drive investment in these capabilities [10][6] - The company maintains its full-year 2024 guidance of revenue between $102 million to $118 million, anticipating a strong second half of the year [23][6] Other Important Information - The company ended Q2 2024 with $42.3 million in cash and short-term investments, providing sufficient liquidity for future operations [22][6] - The production of Gen-3 satellites is on track, with a focus on maintaining a steady launch cadence starting in 2025 [16][6] Q&A Session Summary Question: Can you provide more details on the imagery and software growth this quarter? - Management noted that imagery and analytics revenues typically see a step-up in the second half of the year due to budget cycles and renewals, explaining the sequential decline [26][6] Question: Is the GDMP vehicle incremental to existing contracts? - Management confirmed that the GDMP is a separate and incremental sales channel, allowing for a broader range of services beyond existing contracts [27][6] Question: What is the launch cadence for Gen-3 satellites? - The first few satellites will be launched separately, with a commissioning time of about 60 days before moving to a steady cadence of launches [28][6] Question: How much of the backlog is tied to Gen-3 capabilities? - A significant portion of the backlog is tied to Gen-3, with the EOCL contract heavily backloaded on Gen-3 services [32][6] Question: What is the current environment for acquiring AI talent? - The company has had good success in recruiting and retaining AI talent, driven by the exciting nature of their work in space and intelligence [45][6] Question: What are the expectations for CapEx in 2025? - Management indicated that CapEx guidance for 2025 will be provided later, but they expect it to normalize after significant Gen-3 investments [41][6] Question: How does pricing work in the GDMP program? - The GDMP allows customers to request proposals, creating a competitive and streamlined acquisition model for services [49][6]

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 ...

BlackSky Technology Inc. (BKSY) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to loss of $0.24 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 33.33%. A quarter ago, it was expected that this company would post a loss of $0.08 per share when it actually produced a loss of $0.11, delivering a surprise of -37.50%. Over the last four quarters, the company ...

BLACKSKY REPORTS SECOND QUARTER 2024 RESULTS Q2 Total Revenue Increases 29% Over Prior Year Period Company Wins $40 Million in New Contracts and Renewal Agreements First 35cm Very High Resolution Gen-3 Satellite Planned for Launch in Q4 HERNDON, VA – August 8, 2024 – BlackSky Technology Inc. ("BlackSky" or the "Company") (NYSE: BKSY) announced results for the second quarter ended June 30, 2024. Second Quarter Financial Highlights: • Revenue of $24.9 million, up 29% from the prior year quarter • Imagery & so ...

Let me give you a silly example but one that makes sense. Your typical economy car may hit 60 miles per hour from standstill around the seven-second mark. A high-powered German luxury coupe may do it in under four seconds. Both vehicles can eventually get to 60 miles per hour. It's just that one gets you there a lot quicker. Source: Shutterstock It's also worth noting for speculators that shares trade hands at 0.41X trailing-year sales. Between the first quarter of 2023 to Q1 2024, the average metric stood ...

Dallas, Texas--(Newsfile Corp. - May 23, 2024) - BlackSky Technology, Inc. (NYSE: BKSY): Stonegate Capital Partners initiates their coverage on BlackSky Technology, Inc. (NYSE: BKSY). To view the full announcement, including downloadable images, bios, and more, click here. Stonegate Capital Partners (214) 987-4121 info@stonegateinc.com Source: Stonegate, Inc. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/210310 Revenue increased 31.7% year over year Awar ...

[Part I. Financial Information](index=4&type=section&id=Part%20I.%20Financial%20Information) [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited condensed consolidated financial statements for Q1 2024 show increased revenue, a narrowed net loss, and changes in balance sheet accounts Condensed Consolidated Balance Sheet (in thousands) | Account | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $14,965 | $32,815 | | Contract assets | $24,134 | $15,213 | | Total current assets | $69,358 | $79,331 | | Total assets | $210,113 | $224,066 | | **Liabilities & Equity** | | | | Total current liabilities | $17,263 | $27,491 | | Total liabilities | $128,400 | $130,907 | | Total stockholders' equity | $81,713 | $93,159 | Condensed Consolidated Statement of Operations (in thousands) | Account | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Total revenue | $24,236 | $18,397 | | Operating loss | $(13,253) | $(16,901) | | Net loss | $(15,810) | $(17,315) | | Net loss per share | $(0.11) | $(0.14) | Condensed Consolidated Statement of Cash Flows (in thousands) | Activity | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | $(3,810) | $(16,602) | | Net cash (used in) provided by investing activities | $(15,108) | $10,518 | | Net cash provided by financing activities | $862 | $28,867 | | Net decrease in cash | $(18,056) | $22,783 | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2024 revenue increased by 31.7%, operating loss narrowed, and Adjusted EBITDA turned positive, with liquidity bolstered by a new $20 million credit facility [Company Overview](index=27&type=section&id=Company%20Overview) BlackSky leverages its LEO satellite constellation and AI-enabled BlackSky Spectra platform for real-time imagery and analytics, with future growth driven by Gen-3 satellite launches - The company's core assets are its satellite constellation and the BlackSky Spectra software platform, which processes millions of daily observations from proprietary and third-party sensors using AI and ML[161](index=161&type=chunk) - Next-generation Gen-3 satellites, expected to launch in 2024, will feature improved resolution and short-wave infrared imaging for nighttime and low-light conditions, expanding analytical capabilities[161](index=161&type=chunk) [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Q1 2024 total revenue grew 31.7% to $24.2 million, driven by Professional & Engineering services, leading to narrowed operating and net losses Comparison of Results of Operations (in thousands) | Line Item | Q1 2024 | Q1 2023 | $ Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Total Revenue** | **$24,236** | **$18,397** | **$5,839** | **31.7%** | | Imagery & software analytical services | $17,833 | $15,760 | $2,073 | 13.2% | | Professional & engineering services | $6,403 | $2,637 | $3,766 | 142.8% | | **Operating Loss** | **$(13,253)** | **$(16,901)** | **$3,648** | **21.6%** | | **Net Loss** | **$(15,810)** | **$(17,315)** | **$1,505** | **8.7%** | - Professional and engineering services revenue saw a **significant increase** due to two new major engineering contracts that started after the comparable prior period[10](index=10&type=chunk) - Selling, general, and administrative expenses decreased slightly by **0.7%** to **$18.8 million**, mainly due to lower corporate insurance premiums and reduced office space costs[296](index=296&type=chunk)[201](index=201&type=chunk) - Depreciation and amortization expense increased by **15.8%** to **$11.2 million**, driven by new satellites placed into service in March 2023 and capitalization of software and new office space[11](index=11&type=chunk)[231](index=231&type=chunk) [Non-GAAP Financial Measures](index=34&type=section&id=Non-GAAP%20Financial%20Measures) Adjusted EBITDA, a key non-GAAP measure, turned positive at $1.4 million in Q1 2024, marking the second consecutive quarter of profitability Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Line Item | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss | $(15,810) | $(17,315) | | Depreciation and amortization | $11,184 | $9,655 | | Stock-based compensation expense | $3,363 | $3,012 | | Loss (gain) on derivatives | $254 | $(1,531) | | Other adjustments | $485 | $1,057 | | **Adjusted EBITDA** | **$1,376** | **$(4,129)** | - The company has achieved **two consecutive quarters of positive Adjusted EBITDA** but cautions that revenues may not continue to exceed expenses in the near term due to ongoing investments in sales, marketing, and products[213](index=213&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) Short-term liquidity was $35.8 million as of March 31, 2024, supplemented by a new $20.0 million revolving credit facility, ensuring sufficient capital for future needs - As of March 31, 2024, short-term liquidity was **$35.8 million**, consisting of **$15.0 million** in cash and cash equivalents, **$0.4 million** in restricted cash, and **$20.4 million** in short-term investments[236](index=236&type=chunk)[210](index=210&type=chunk) - In April 2024, the company entered into a new **$20.0 million** commercial bank line with Stifel Bank, maturing in June 2026, and immediately borrowed **$10.0 million**[237](index=237&type=chunk)[117](index=117&type=chunk) - Long-term liquidity needs will primarily relate to funding operations, satellite development and launch capital expenditures, and investments in the BlackSky Spectra software platform[240](index=240&type=chunk) [Controls and Procedures](index=41&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of March 31, 2024, with no material changes to internal control over financial reporting - The Certifying Officers concluded that as of March 31, 2024, the company's disclosure controls and procedures were **effective**[253](index=253&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, internal controls[292](index=292&type=chunk) [Part II. Other Information](index=42&type=section&id=Part%20II.%20Other%20Information) [Legal Proceedings](index=42&type=section&id=Item%201.%20Legal%20Proceedings) Two class action lawsuits were filed in May 2024 concerning the 2021 merger, with BlackSky evaluating potential indemnification obligations - Two class action lawsuits, Drulias v. Osprey Sponsor II, LLC and Cheriyala v. Osprey Sponsor II, LLC, were filed in May 2024 concerning the **2021 merger**[155](index=155&type=chunk) - The complaints assert claims such as breach of fiduciary duty and unjust enrichment against former directors, officers, and the sponsor of Osprey; BlackSky expects to have certain indemnification requirements[155](index=155&type=chunk) [Risk Factors](index=42&type=section&id=Item%201A.%20Risk%20Factors) The company refers investors to its Annual Report on Form 10-K for a comprehensive discussion of factors that could adversely affect its business and financial results - For information on risk factors, the report refers to the company's Annual Report on Form 10-K for the year ended December 31, 2023[303](index=303&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=42&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2024, the company sold 953,153 common shares via an ATM offering, generating $1.3 million in net proceeds for working capital - Under its ATM offering, the company sold **953,153 shares** during Q1 2024 at an average price of **$1.43 per share**[276](index=276&type=chunk) - The sales resulted in gross proceeds of **$1.4 million** and net proceeds of **$1.3 million**, intended for working capital and general corporate purposes[276](index=276&type=chunk)

© BlackSky 2024. All rights reserved. Public information. 1 The data contained herein is derived from various internal and external sources. All of the market data in the presentation involves a number of assumptions and limitations. No representation is made as to the reasonableness of the assumptions made within or the accuracy or completeness of any projections or modeling or any other information contained herein. Any data on past performance or modeling contained herein is not an indication of future p ...

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 ...