BlackSky Technology (BKSY)2025-03-06 12:03Revenue Performance - Total revenue for the full year 2024 was $102.1 million, an increase of $7.6 million or 8% from 2023[8] - Imagery and software analytical services revenue for the full year 2024 was $70.1 million, up $4.7 million or 7% over the prior year[8] - Total revenue for Q4 2024 was $30,370, a decrease of 14.0% compared to $35,508 in Q4 2023[31] - Imagery & software analytical services revenue decreased to $17,484, down 8.2% from $19,039 in the same quarter last year[31] - Professional & engineering services revenue decreased to $12,886, down 21.0% from $16,469 in Q4 2023[31] - BlackSky expects total revenue for 2025 to grow by 30% over 2024, forecasting between $125 million and $142 million[20] Profitability and Loss - Net loss for the full year 2024 was $57.0 million, compared to a net loss of $53.9 million in 2023[15] - Net loss for the year 2024 was $57,023, compared to a net loss of $53,859 in 2023, representing a 5.9% increase in losses[31] - The company reported a basic and diluted loss per share of $2.66 for 2024, compared to $3.18 in 2023, showing a reduction in loss per share[31] - Adjusted EBITDA for the full year 2024 was $11.6 million, a $12.7 million improvement from an Adjusted EBITDA loss of $1.0 million in 2023[17] - Adjusted EBITDA for the year 2024 was $11,637, compared to $(1,030) in 2023, indicating a significant improvement[37] Expenses and Costs - The cost of sales as a percentage of revenue improved to 27% for the full year 2024, compared to 36% in 2023[10] - Operating expenses for the fourth quarter of 2024 were $29.6 million, compared to $28.1 million in the fourth quarter of 2023[13] - Cash operating expenses for the year 2024 were $64,887, an increase of 2.8% from $63,142 in 2023[38] Cash Flow and Assets - Cash and cash equivalents decreased to $13,056 from $32,815 year-over-year, a decline of 60.2%[33] - Total assets increased to $254,342, up 13.5% from $224,066 in 2023[33] - Total liabilities increased to $160,158, up 22.3% from $130,907 in 2023[33] Capital Expenditures and Contracts - Capital expenditures for the full year 2024 totaled $50.2 million, with expectations for 2025 capital expenditures between $60 million and $70 million[19] - The company secured over $150 million in recent contract awards, increasing the backlog from $261 million to approximately $390 million[12] Product Development - The first Gen-3 satellite was successfully launched and began delivering imagery five days post-launch, exceeding customer expectations[2]