Stonegate Updates Coverage on BlackSky Technology, Inc. (BKSY) 4Q24

Rhea-AI Summary

BlackSky Technology (NYSE: BKSY) reported Q4 2024 financial results with revenue of $30.4M, adjusted EBITDA of $7.4M, and EPS of ($1.01). The company achieved its fifth consecutive quarter of positive adjusted EBITDA, reaching $11.6M compared to $(1.0M) in the previous year.

The Imagery and Software Analytics segment revenue decreased by $1.6M to $17.5M due to a prior project's upfront delivery. The Professional and Engineering segment generated $12.9M, boosted by $7.0M in Indonesian contract deliverables. Consolidated gross margins improved to 77.4% from 66.2% in Q3 2024.

Notable achievements include the successful launch of their first Gen-3 satellite, delivering imagery exceeding customer expectations, and securing multiple nine-figure multi-year contracts, including a 7-year agreement. The company projects FY2025 revenue guidance between $125.0M to $142.0M.

Positive

• Fifth consecutive quarter of positive adjusted EBITDA ($11.6M vs -$1.0M YoY)
• Gross margin improvement to 77.4% from 66.2% QoQ
• Secured multiple nine-figure multi-year contracts
• Successful Gen-3 satellite launch with superior performance
• Strong FY25 revenue guidance of $125-142M

Negative

• Revenue missed estimates ($30.4M vs $34.2M consensus)
• EPS missed estimates (-$1.01 vs -$0.27 consensus)
• Imagery segment revenue declined by $1.6M YoY

News Market Reaction

-1.50%

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-1.50% News Effect

On the day this news was published, BKSY declined 1.50%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Dallas, Texas--(Newsfile Corp. - March 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 $30.4M, $7.4M, and ($1.01), respectively. This compares to our/consensus estimates of $38.7M/$34.2M, $7.7M/$7.0M, and ($0.43)/($0.27).This marks the fifth quarter in a row of positive adjusted EBITDA. The Imagery and Software Analytics segment reported revenue of $17.5M, down $1.6M from the prior year period. This decrease was due to an upfront delivery of ~$2.0M in images for a previous project. The Professional and Engineering segment reported revenue of $12.9 in 4Q24, representing a sequential increase due to ~$7.0M in deliverables under the Indonesian contract. Consolidated gross margins improved to 77.4%, an increase from 66.2% in 3Q24. Adjusted EBITDA improved significantly to $11.6M from the $(1.0M) posted last year.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• The first Gen-3 satellite was successfully launched and began delivering imagery that exceeded customer expectations for initial image quality.
• Awarded several nine-figure multi-year contracts, with one spanning 7 years.
• BKSY set its FY25 revenue guidance in a range of $125.0M to $142.0M, driven by sizeable multi-year sales opportunities.

Click image above to view full announcement.

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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/243673

FAQ

What were BlackSky's (BKSY) Q4 2024 financial results?

BlackSky reported Q4 2024 revenue of $30.4M, adjusted EBITDA of $7.4M, and EPS of ($1.01), marking their fifth consecutive quarter of positive adjusted EBITDA.

How did BlackSky's (BKSY) gross margins perform in Q4 2024?

BKSY's consolidated gross margins improved to 77.4% in Q4 2024, up from 66.2% in Q3 2024.

What is BlackSky's (BKSY) revenue guidance for FY2025?

BlackSky set its FY2025 revenue guidance between $125.0M to $142.0M, driven by substantial multi-year sales opportunities.

What major operational achievements did BlackSky (BKSY) report in Q4 2024?

BKSY successfully launched its first Gen-3 satellite with superior image quality and secured multiple nine-figure multi-year contracts, including a 7-year agreement.