Stonegate Capital Partners Updates Coverage on BlackSky Technology, Inc. (BKSY) 3Q25
BlackSky Technology (NYSE: BKSY) reported 3Q25 revenue of $19.6M, adjusted EBITDA loss of $4.5M, and GAAP EPS of ($0.44). Revenue missed Stonegate/consensus estimates of $29.9M/$28.6M and adjusted EBITDA trailed expectations of $3.2M/$1.9M. Imagery & Software Analytical Services revenue fell to $15.8M (down 8.6% y/y) and Professional & Engineering Services dropped to $3.8M from $5.2M in 2Q24. Consolidated gross margin declined to 65.3% from 70.5% in 3Q24. The company reported new wins >$60M, a backlog of $322.7M (~91% international), a >$30M Gen-3 ISR award, the next Gen-3 satellite at launch site, and $147.6M cash plus short-term investments with $43.4M unbilled contract assets.
BlackSky Technology (NYSE: BKSY) ha riportato ricavi nel terzo trimestre 25 di 19,6 milioni di dollari, una perdita EBITDA rettificata di 4,5 milioni di dollari e un EPS GAAP di ($0,44). Le entrate hanno mancato le stime Stonegate/consensus di 29,9 milioni di dollari / 28,6 milioni di dollari e l'EBITDA rettificato ha superato le aspettative di 3,2 / 1,9 milioni di dollari. Le entrate nei servizi di Immagini & Software Analytici sono scese a 15,8 milioni di dollari (in calo dell'8,6% su base annua) e i Servizi Professionali & Ingegneria sono scesi a 3,8 milioni di dollari da 5,2 milioni nel 2Q24. Il margine lordo consolidato è sceso a 65,3% dal 70,5% nel 3Q24. L'azienda ha riportato nuove opportunità >60 milioni, un backlog di 322,7 milioni di dollari (~91% internazionale), un premio Gen-3 ISR superiore a 30 milioni di dollari, il prossimo satellite Gen-3 sul sito di lancio, e 147,6 milioni di dollari in liquidità più investimenti a breve termine con 43,4 milioni di dollari di attivi contrattuali non fatturati.
BlackSky Technology (NYSE: BKSY) reportó ingresos del 3T25 de $19.6M, una pérdida de EBITDA ajustado de $4.5M, y un BPA GAAP de ($0.44). Los ingresos no alcanzaron las estimaciones de Stonegate/consenso de $29.9M/$28.6M y el EBITDA ajustado quedó por detrás de las expectativas de $3.2M/$1.9M. Los ingresos de Imágenes y Servicios Analíticos de Software cayeron a $15.8M (bajó un 8,6% interanual) y los Servicios Profesionales e Ingeniería descendieron a $3.8M desde $5.2M en 2Q24. El margen bruto consolidado se redujo a 65.3% desde 70.5% en 3Q24. La empresa reportó nuevos contratos >$60M, un backlog de $322.7M (~91% internacional), una adjudicación Gen-3 ISR de >$30M, el siguiente satélite Gen-3 en el sitio de lanzamiento, y $147.6M en efectivo más inversiones a corto plazo con $43.4M de activos contractuales no facturados.
BlackSky Technology (NYSE: BKSY)는 3Q25 매출 1960만 달러, 조정 EBITDA 손실 450만 달러, 그리고 GAAP 주당순손실 ($0,44)를 보고했습니다. 매출은 Stonegate/컨센서스 추정치 2990만 달러/2860만 달러를 하회했고 조정 EBITDA는 320만 달러/190만 달러의 기대를 밑돌았습니다. Imagery & Software Analytical Services 매출은 $15.8M으로 하락했고(전년동기 대비 8.6% 감소) Professional & Engineering Services도 $3.8M으로 감소했습니다(2Q24의 $5.2M에서). 연결 매출총이익률은 3Q24의 70.5%에서 65.3%로 감소했습니다. 회사는 새로운 수주 >$60M, 약 $322.7M의 백로그(대략 91% 국제), $30M 이상 Gen-3 ISR 수상, 다음 Gen-3 위성 발사 현장, 그리고 $147.6M의 현금과 단기투자, $43.4M의 미청구 계약자산을 보유했다고 발표했습니다.
BlackSky Technology (NYSE: BKSY) a annoncé un chiffre d’affaires T3-25 de 19,6 M$, une perte EBITDA ajustée de 4,5 M$ et un BPA GAAP de ($0,44). Le chiffre d’affaires a manqué les estimations Stonegate/consensus de 29,9 M$ / 28,6 M$ et l’EBITDA ajusté a été inférieur aux attentes de 3,2 M$ / 1,9 M$. Le chiffre d’affaires des services Imagerie & Logiciels analytiques est tombé à 15,8 M$ (en baisse de 8,6% sur un an) et les services Professionnels & Ingénierie ont chuté à 3,8 M$ contre 5,2 M$ au 2T24. La marge brute consolidée a reculé à 65,3% contre 70,5% au T3-24. La société a annoncé de nouveaux contrats >60 M$, un backlog de 322,7 M$ (~91% international), une récompense Gen-3 ISR de >30 M$, le prochain satellite Gen-3 sur le site de lancement, et 147,6 M$ de liquidités plus des investissements à court terme avec 43,4 M$ d’actifs contractuels non facturés.
BlackSky Technology (NYSE: BKSY) meldete Umsatz im 3Q25 von 19,6 Mio. USD, einen bereinigten EBITDA-Verlust von 4,5 Mio. USD und einen GAAP EPS von ($0,44). Der Umsatz verfehlte die Stonegate-/Konsensschätzungen von 29,9 Mio. USD / 28,6 Mio. USD und der bereinigte EBITDA lag unter den Erwartungen von 3,2 Mio. USD / 1,9 Mio. USD. Der Umsatz aus Imagery & Software Analytical Services fiel auf 15,8 Mio. USD (YoY −8,6%) und Professional & Engineering Services sanken auf 3,8 Mio. USD von 5,2 Mio. USD im 2Q24. Die konsolidierte Bruttomarge sank von 70,5% im 3Q24 auf 65,3%. Das Unternehmen berichtete neue Aufträge >60 Mio. USD, einen Backlog von 322,7 Mio. USD (~91% international), eine Gen-3 ISR-Auszeichnung >30 Mio. USD, die nächste Gen-3-Satellit am Startort und 147,6 Mio. USD an Cash plus Kurzfristinvestitionen mit 43,4 Mio. USD unbilled contract assets.
BlackSky Technology (NYSE: BKSY) أبلغت عن إيرادات الربع الثالث 25 من 19.6 مليون دولار، وخسارة EBITDA المعدلة قدرها 4.5 مليون دولار، وEPS وفقاً لـ GAAP قدره ($0.44). الإيرادات أقل من تقديرات Stonegate/الإجماع البالغة $29.9M/$28.6M، وتبع EBITDA المعدلة التوقعات بمقدار $3.2M/$1.9M. بلغت إيرادات الخدمات التصويرية والبرمجية التحليلية $15.8M، بانخفاض 8.6% على أساس سنوي، وتراجعت خدمات المحترفين والهندسة إلى $3.8M من 5.2 مليون في 2Q24. وهوامش الربح الإجمالي المتوافقة انخفضت إلى 65.3% من 70.5% في 3Q24. قالت الشركة إنها أتمّت صفقات جديدة >60 مليون دولار، ورصيد أعمال قدره $322.7M (~91% دولي)، وجائزة Gen-3 ISR تتجاوز >30 مليون دولار، والس satellite Gen-3 التالي في موقع الإطلاق، و$147.6M من النقد والاستثمارات قصيرة الأجل مع $43.4M من أصول العقود غير المفوترة.
- Backlog of $322.7M, ~91% international
- New contract wins totaling >$60M
- Cash plus short-term investments of $147.6M
- Next Gen-3 satellite staged at launch site
- Revenue of $19.6M missed estimates by ~30%
- Adj. EBITDA loss of $4.5M versus expected profit
- Consolidated gross margin fell 520 bps to 65.3%
- Imagery & software revenue down 8.6% y/y
Dallas, Texas--(Newsfile Corp. - November 7, 2025) - BlackSky Technology, Inc. (NYSE: BKSY): Stonegate Capital Partners updates their coverage on BlackSky Technology, Inc. (NYSE: BKSY). BKSY reported revenue, adj EBITDA, and EPS of
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Key Takeaways:
- Revenue
$19.6M and an adj. EBITDA loss; outlook intact with a stronger Q4 expected. - New wins topped
$60M with a backlog of$322.7M , ~91% international, including a >30M Gen-3 ISR award. - Execution and funding remain in place with the next Gen-3 satellite at the launch site and cash plus short-term investments of 147.6M alongside 43.4M of unbilled contract assets.
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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
Contacts:
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/273603
FAQ
What were BlackSky (BKSY) 3Q25 revenue and EPS reported on November 7, 2025?
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Why did BlackSky's imagery revenue decline in 3Q25?
