Blacksky Technology Inc (BKSY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 9, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BKSY SEC filings page.
Blacksky Technology Inc (BKSY) reported $108.9M in revenue over the twelve months to Jun 30, 2026, up 4.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
BlackSky’s model remains dependent on external financing as operating losses persist despite near-breakeven reported net income.
The near-zero net margin of0.1% masks a still-unresolved operating model: operating margin remained-44.0% in FY2025, not operating breakeven. Operating cash flow worsened from-$6.4M in FY2024 to-$28.3M in FY2025, so the cash conversion gap shows accounting-level break-even and cash break-even moving in opposite directions.
Revenue rose from
Debt-to-equity rose from 1.1x in FY2024 to 2.0x in FY2025, indicating a materially more leveraged funding structure. Financing cash flow supplied
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Blacksky Technology Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Blacksky Technology Inc has an operating margin of -44.0%, meaning the company loses $44 on every $100 of revenue. This results in a profitability score of 16/100. This is down from -43.4% the prior year.
Blacksky Technology Inc's revenue grew a modest 4.4% year-over-year to $106.6M. This slow but positive growth earns a score of 55/100.
Blacksky Technology Inc has a moderate D/E ratio of 2.04. This balance of debt and equity financing earns a leverage score of 31/100.
With a current ratio of 3.48, Blacksky Technology Inc holds $3.48 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 84/100.
Not available for Blacksky Technology Inc, and counted as zero in the overall score.
Blacksky Technology Inc generates a 0.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 27/100. This is unchanged from the prior year.
Blacksky Technology Inc scores -0.44, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($903.6M) relative to total liabilities ($291.4M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Blacksky Technology Inc passes 1 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Blacksky Technology Inc reported $70K of net income while operations used $28.3M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.
Blacksky Technology Inc reported an operating loss of $46.9M against $14.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Blacksky Technology Inc generated $33.3M in revenue in Q2 2026. This represents an increase of 50.1% from the same quarter a year earlier. Against the prior quarter it is up 60.4%.
Blacksky Technology Inc's EBITDA was $198K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 102.9% from the same quarter a year earlier. Against the prior quarter it is up 102.1%.
Blacksky Technology Inc reported -$20.8M in net income in Q2 2026. This represents an increase of 49.5% from the same quarter a year earlier. Against the prior quarter it is up 29.8%.
Blacksky Technology Inc earned -$0.54 per diluted share (EPS) in Q2 2026. This represents an increase of 57.5% from the same quarter a year earlier. Against the prior quarter it is up 34.1%.
Cash & Balance Sheet
Blacksky Technology Inc held $36.9M in cash against $199.2M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Blacksky Technology Inc's operating margin was -23.4% in Q2 2026, reflecting core business profitability. This is up 39.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 65.8 percentage points.
Blacksky Technology Inc's net profit margin was -62.5% in Q2 2026, showing the share of revenue converted to profit. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Blacksky Technology Inc's ROE was -9.8% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 37.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 26.9 percentage points.
Not reported for Q2 2026.
Capital Allocation
Blacksky Technology Inc invested $291K in research and development in Q2 2026. This represents an increase of 1611.8% from the same quarter a year earlier. Against the prior quarter it is up 71.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
BKSY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.3M+50.1% | $20.8M-29.7% | $35.2M+15.9% | $19.6M-13.0% | $22.2M-11.0% | $29.5M+21.9% | $30.4M-14.5% | $22.5M+6.1% |
| R&D Expenses | $291K+1611.8% | $170K-30.6% | $141K-74.8% | $30K-30.2% | $17K-94.1% | $245K-46.3% | $559K+373.7% | $43K-67.7% |
| SG&A Expenses | $23.8M+4.9% | $22.6M+5.2% | $21.6M+13.0% | $21.7M+21.0% | $22.7M+24.4% | $21.4M+14.0% | $19.1M+10.1% | $18.0M+2.2% |
| Operating Income | -$7.8M+44.1% | -$18.5M-54.7% | -$4.2M+31.7% | -$16.8M-27.2% | -$13.9M-18.9% | -$12.0M+9.6% | -$6.1M-31.0% | -$13.2M+8.9% |
| EBITDA | $198K+102.9% | -$9.3M-95.9% | $3.9M+0.3% | -$9.0M-325.7% | -$6.7M-1416.2% | -$4.7M-129.2% | $3.9M-36.1% | -$2.1M+34.5% |
| Interest Expense | $3.9M+10.1% | $3.9M+17.6% | $4.1M+20.0% | $4.0M+28.5% | $3.5M+15.8% | $3.3M+26.9% | $3.4M+26.2% | $3.1M+24.1% |
| Income Tax | $0-100.0% | $0-100.0% | $21K+5.0% | $39K+39.3% | $35K-86.1% | $30K-57.1% | $20K-95.2% | $28K-79.7% |
| Net Income | -$20.8M+49.5% | -$29.7M-131.5% | $69.5M+83.5% | -$15.3M-21.8% | -$41.2M-338.9% | -$12.8M+19.0% | $37.9M-24.5% | -$12.6M-1965.3% |
| EPS (Basic) | -$0.54+57.5% | -$0.82-95.2% | $0.02+103.2% | -$0.44+33.3% | -$1.27-144.2% | -$0.42+52.3% | -$0.62-3000.0% | -$0.66-1750.0% |
| EPS (Diluted) | -$0.54+57.5% | -$0.82-95.2% | $0.02+103.2% | -$0.44 | -$1.27 | -$0.42 | -$0.62 | -$0.66 |
| Diluted Shares (Avg) | 38M+18.3% | 36M+17.3% | N/A | 35M | 32M | 31M | N/A | 19M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
BKSY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $517.0M+66.4% | $371.7M+30.5% | $386.2M+52.0% | $380.9M+55.2% | $310.8M+38.6% | $284.9M+35.6% | $254.1M+13.4% | $245.5M+15.3% |
| Current Assets | $309.8M+123.2% | $185.3M+52.7% | $206.8M+93.7% | $201.0M+88.8% | $138.8M+68.3% | $121.3M+74.9% | $106.7M+34.5% | $106.5M+50.6% |
| Cash & Equivalents | $36.9M+63.6% | $39.4M+89.8% | $42.4M+225.1% | $28.8M-48.7% | $22.6M-11.7% | $20.7M+38.6% | $13.1M-60.2% | $56.2M+74.7% |
| Short-Term Investments | $197.3M+177.0% | $76.1M+38.2% | $82.0M+108.1% | $117.7M+1559.7% | $71.2M+354.3% | $55.1M+169.6% | $39.4M+100.1% | $7.1M-59.6% |
| Inventory | $6.2M | $6.2M | $6.2M+2.2% | $0 | $0 | $0 | $6.0M | N/A |
| Accounts Receivable | $28.0M+305.4% | $24.6M+210.5% | $34.1M+132.2% | $4.0M-61.4% | $6.9M-16.1% | $7.9M+42.0% | $14.7M+107.9% | $10.3M+278.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $10.3M0.0% | $10.3M-0.2% | $10.3M+0.2% | $10.3M+9.4% | $10.3M+9.4% | $10.3M+9.7% | $10.3M+9.2% | $9.4M0.0% |
| Total Liabilities | $305.5M+36.2% | $290.9M+48.4% | $291.4M+81.9% | $289.8M+114.4% | $224.2M+51.8% | $196.0M+52.7% | $160.2M+22.3% | $135.2M+12.0% |
| Current Liabilities | $53.1M+42.0% | $53.6M+67.4% | $59.5M+128.5% | $51.7M+175.4% | $37.4M+90.0% | $32.0M+85.4% | $26.0M-5.3% | $18.8M+0.5% |
| Non-Current Liabilities | $252.4M+35.1% | $237.4M+44.7% | $231.9M+72.9% | $238.1M+104.5% | $186.8M+45.9% | $164.0M+47.6% | $134.1M+29.7% | $116.4M+14.2% |
| Long-Term Debt | $199.2M+69.8% | $193.4M+73.3% | $193.2M+82.7% | $189.3M+92.3% | $117.3M+8.3% | $111.6M+31.8% | $105.7M+26.6% | $98.4M+23.8% |
| Total Equity | $211.5M+144.4% | $80.8M-9.1% | $94.9M+0.9% | $91.1M-17.4% | $86.6M+13.1% | $88.8M+8.7% | $94.0M+0.9% | $110.3M+19.7% |
| Retained Earnings | -$776.9M-9.4% | -$756.1M-13.0% | -$726.4M-10.7% | -$725.6M-13.9% | -$710.2M-13.8% | -$669.0M-8.8% | -$656.2M-9.6% | -$636.8M-7.0% |
BKSY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.5M+51.6% | -$2.4M-108.6% | -$9.3M-412.9% | -$39.0M-3864.0% | -$7.3M-306.3% | $27.2M+815.1% | -$1.8M-12.0% | $1.0M+698.3% |
| Depreciation & Amortization | $8.0M+10.9% | $9.2M+27.8% | $8.0M-19.2% | $7.9M-29.3% | $7.2M-36.1% | $7.2M-35.3% | $9.9M-7.0% | $11.1M-1.6% |
| Stock-Based Compensation | $4.3M+24.8% | $4.1M+41.7% | N/A | $3.7M+45.1% | $3.5M+46.2% | $2.9M-13.9% | N/A | $2.5M+4.9% |
| Investing Cash Flow | -$135.6M-428.0% | -$9.3M+61.3% | $23.8M+158.3% | -$60.6M-1272.7% | -$25.7M-223.4% | -$24.1M-59.8% | -$40.9M-14653.8% | -$4.4M+46.7% |
| Financing Cash Flow | $144.6M+315.8% | $9.5M+116.0% | -$866K-256.4% | $105.8M+210.7% | $34.8M+65.5% | $4.4M+412.8% | -$243K-117.9% | $34.0M+6773.7% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
BKSY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -23.4%+39.4pp | -89.2%-48.7pp | -11.8%+8.2pp | -85.8%-27.1pp | -62.8%-15.8pp | -40.6%+14.1pp | -20.0%-7.0pp | -58.7%+9.6pp |
| Net Margin | -62.5% | -142.8% | 197.3% | -78.2%-22.4pp | -185.8% | -43.4%+21.9pp | 124.6% | -55.8%-59.0pp |
| Return on Equity | -9.8%+37.8pp | -36.7%-22.3pp | 73.2%+32.9pp | -16.9%-5.4pp | -47.6%-35.4pp | -14.4%+4.9pp | 40.3%-13.5pp | -11.4%-12.2pp |
| Return on Assets | -4.0%+9.2pp | -8.0%-3.5pp | 18.0%+3.1pp | -4.0%+1.1pp | -13.3%-9.1pp | -4.5%+3.0pp | 14.9%-7.5pp | -5.1%-5.5pp |
| Current Ratio | 5.83+2.1x | 3.46-0.3x | 3.48-0.6x | 3.89-1.8x | 3.71-0.5x | 3.79-0.2x | 4.10+1.2x | 5.68+1.9x |
| Debt-to-Equity | 0.94-0.4x | 2.39+1.1x | 2.04+0.9x | 2.08+1.2x | 1.35-0.1x | 1.26+0.2x | 1.13+0.2x | 0.890.0x |
| Asset Turnover | 0.060.0x | 0.060.0x | 0.090.0x | 0.050.0x | 0.070.0x | 0.100.0x | 0.120.0x | 0.090.0x |
Not reported in any period shown, so not listed: Gross Margin, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Blacksky Technology Inc BKSY | FY2025 | $106.6M | $70K | 0.1% | $903.6M | 36/100 |
| Cass Info Sys CASS | FY2025 | $191.1M | $35.1M | 18.4% | $714.7M | 22/100 |
| Transcat TRNS | FY2026 | $331.9M | $5.4M | 1.6% | $800.1M | 56/100 |
| Eastman Kodak KODK | FY2025 | $1.1B | -$128.0M | -12.0% | $909.5M | 59/100 |
| Spire Global Inc SPIR | FY2025 | $71.6M | $51.3M | 71.7% | $486.7M | 33/100 |
| Target Hospitality Corp TH | FY2025 | $320.6M | -$37.1M | -11.6% | $1.9B | 38/100 |
Where Blacksky Technology Inc Ranks
Frequently Asked Questions
What is Blacksky Technology Inc's annual revenue?
Blacksky Technology Inc (BKSY) reported $106.6M in total revenue for fiscal year 2025. This represents a 4.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Blacksky Technology Inc's revenue growing?
Blacksky Technology Inc (BKSY) revenue grew by 4.4% year-over-year, from $102.1M to $106.6M in fiscal year 2025.
Is Blacksky Technology Inc profitable?
Yes, Blacksky Technology Inc (BKSY) reported a net income of $70K in fiscal year 2025, with a net profit margin of 0.1%.
What is Blacksky Technology Inc's EBITDA?
Blacksky Technology Inc (BKSY) had EBITDA of -$16.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Blacksky Technology Inc have?
As of fiscal year 2025, Blacksky Technology Inc (BKSY) had $42.4M in cash and equivalents against $193.2M in long-term debt.
What is Blacksky Technology Inc's operating margin?
Blacksky Technology Inc (BKSY) had an operating margin of -44.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Blacksky Technology Inc's net profit margin?
Blacksky Technology Inc (BKSY) had a net profit margin of 0.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Blacksky Technology Inc's return on equity (ROE)?
Blacksky Technology Inc (BKSY) has a return on equity of 0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Blacksky Technology Inc's operating cash flow?
Blacksky Technology Inc (BKSY) recorded an outflow of $28.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Blacksky Technology Inc's total assets?
Blacksky Technology Inc (BKSY) had $386.2M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Blacksky Technology Inc spend on research and development?
Blacksky Technology Inc (BKSY) invested $433K in research and development during fiscal year 2025.
What is Blacksky Technology Inc's current ratio?
Blacksky Technology Inc (BKSY) had a current ratio of 3.48 as of fiscal year 2025, which is generally considered healthy.
What is Blacksky Technology Inc's debt-to-equity ratio?
Blacksky Technology Inc (BKSY) had a debt-to-equity ratio of 2.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Blacksky Technology Inc's return on assets (ROA)?
Blacksky Technology Inc (BKSY) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Blacksky Technology Inc's P/E ratio?
Blacksky Technology Inc (BKSY) trades at 249x earnings, its market capitalization divided by net income of $3.6M net income, trailing 12 months to June 30, 2026. The market capitalization is $903.6M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Blacksky Technology Inc's price-to-sales ratio?
Blacksky Technology Inc (BKSY) trades at 8.3x sales, its market capitalization divided by revenue of $108.9M revenue, trailing 12 months to June 30, 2026. The market capitalization is $903.6M as of Sep 9, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Blacksky Technology Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Blacksky Technology Inc (BKSY) held $124.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $28.3M over that year. Dividing the one by the other, the reported balance equals about 53 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Blacksky Technology Inc's Altman Z-Score?
Blacksky Technology Inc (BKSY) has an Altman Z-Score of -0.44, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Blacksky Technology Inc's Piotroski F-Score?
Blacksky Technology Inc (BKSY) has a Piotroski F-Score of 1 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Blacksky Technology Inc's earnings high quality?
Blacksky Technology Inc (BKSY) reported $70K of net income while operations used $28.3M of cash. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Blacksky Technology Inc cover its interest payments?
Blacksky Technology Inc (BKSY) reported an operating loss of $46.9M against $14.9M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Blacksky Technology Inc?
Blacksky Technology Inc (BKSY) scores 36 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.