Blacksky Technology Inc Stock Price, News & Analysis

BlackSky Technology Inc. (NYSE: BKSY) has been awarded a seven-figure data services contract from HEO to provide automated low-latency capabilities for non-Earth imaging (NEI) services. This pioneering deal expands BlackSky's product offering and brings automation to pattern-of-life insights for orbiting spacecraft and other objects of interest.

The contract, now in its second phase, focuses on automating the entire tasking-to-delivery process. BlackSky will provide proprietary mid-inclination orbit, high-resolution imagery to HEO, increasing the feasibility of capturing NEI data over Earth's middle latitudes. This partnership allows BlackSky to leverage unused satellite capacity, typically associated with ocean passes or eclipse periods.

Customers can request NEI products through HEO's automated platform, HEO Inspect. The system will automatically find imaging opportunities and set tasks on BlackSky's mission scheduling system via API. The resulting imagery and metadata will be used to generate advanced analytics reports, including information on satellite attitude, location, subsystems identification, and pattern-of-life analyses.

BlackSky Technology Inc. (NYSE: BKSY) has been selected by NASA to provide time-diverse, high-revisit satellite imaging data for Earth observation research under the Commercial Smallsat Data Acquisition Program (CSDAP). The contract is a multi-year, indefinite-delivery/indefinite-quantity agreement valued up to $476 million, with a performance period through November 2028.

BlackSky's Spectra platform, which combines imagery and AI-enabled analytics from its high-revisit constellation, will support NASA's Earth science research and application activities. This collaboration aims to enhance understanding of Earth's ecosystems, oceanography, geography, and polar systems through increased temporal frequency observations.

BlackSky Technology Inc. (NYSE: BKSY) has announced a 1-for-8 reverse stock split of its Class A common stock, effective September 6, 2024. The stock will begin trading on a split-adjusted basis on September 9, 2024, under the same symbol 'BKSY'. This move will reduce the number of outstanding shares, with every eight shares being reclassified into one new share. The reverse split will not change the number of authorized shares or the par value. Adjustments will be made to outstanding options, restricted stock units, and warrants. No fractional shares will be issued, and affected stockholders will receive cash payments for fractional interests. The company's publicly traded warrants will continue to trade under 'BKSY.W' with adjusted terms.

BlackSky Technology, Inc. (NYSE: BKSY) has received an updated coverage report from Stonegate Capital Partners. The key takeaways from the report highlight significant progress for the company:

1. Revenue growth of 29% year-over-year, indicating strong market performance.
2. Secured a new contract worth $7.0 million, boosting the company's project pipeline.
3. The company's Gen 3 satellites are on schedule to begin launching in the fourth quarter of 2024, potentially enhancing BlackSky's technological capabilities and market position.

These developments suggest positive momentum for BlackSky Technology in terms of financial performance, business expansion, and technological advancement.

BlackSky Technology (NYSE: BKSY) reported a strong performance for Q2 2024 with a 29% increase in revenue to $24.9 million compared to the same period last year.

Imagery and software analytical services grew by 14%, while professional and engineering services saw an 87% increase. The total cost of sales improved to 28% from 44%.

The company's net loss narrowed significantly to $9.4 million from $33.4 million in Q2 2023. Adjusted EBITDA improved to $2.1 million from a loss of $5.8 million. BlackSky secured $40 million in new contracts and renewals and maintained its FY 2024 revenue outlook of $102 million to $118 million with an adjusted EBITDA of $8 million to $16 million.

The first 35cm Very High Resolution Gen-3 satellite is planned for launch in Q4. As of June 30, 2024, BlackSky held $42.3 million in cash and investments and expects $28.2 million in additional payments over the next 12 months.

BlackSky Technology Inc. (NYSE: BKSY) has announced its upcoming second quarter 2024 financial results conference call, scheduled for Thursday, August 8, 2024, at 8:30 a.m. EDT. The company will release a press release with its financial results prior to the call. Investors and interested parties can access the live webcast through the company's investor relations website or by dialing in.

To participate in the conference call, attendees should dial 1-800-715-9871 or 1-646-307-1963 using conference ID 5380118 or 'BlackSky'. A replay of the call will be available from approximately 12:30 p.m. EDT on August 8, 2024, through August 22, 2024, by dialing 1-877-660-6853 or 1-201-612-7415 with access code 13748009.

BlackSky Technology (NYSE: BKSY) will participate in the Jefferies Annual Virtual Space Summit on June 25, 2024. The event will feature a fireside chat at 1:40 p.m. ET with Henry Dubois, the company's Chief Financial Officer. This virtual event offers an opportunity for investors to engage directly with BlackSky's leadership and gain insights into the company’s strategies and operations. Interested parties can contact the sponsoring firm's sales representative to schedule one-on-one meetings with BlackSky Technology.

BlackSky Technology (NYSE: BKSY) has been awarded a one-year extension contract from the National Reconnaissance Office (NRO) to deliver high-frequency Gen-2 imagery services under the Electro-Optical Commercial Layer (EOCL) subscription. This extension underscores the NRO's confidence in BlackSky’s capabilities in leveraging commercial space technology for national security. BlackSky, the first to integrate and validate performance within the new U.S. government imagery management architecture, continues to provide advanced space-based intelligence with rapid, hourly revisit rates, delivering up to 15 daily time-diverse imagery and analytics. The 10-year EOCL contract, now in its third year, confirms the value of BlackSky's real-time monitoring approach.

BlackSky Technology has secured a $7 million contract renewal to supply space-based imagery and analytics services to a longstanding international government customer.

CEO Brian E. O'Toole highlighted the company's unique ability to deliver high-frequency, low-latency imagery and analytics through its proprietary AI-assisted tasking-to-delivery systems.

The contract enables the customer to access high-resolution, electro-optical imagery and analytics via the BlackSky Spectra platform, which supports real-time data integration from multiple sources and offers day and night, all-weather coverage.