BlackSky Technology Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong revenue growth, major contract wins, and rapid adoption of Gen-3 solutions, prompting raised full-year guidance. High-margin subscription services and international demand are driving over 50% projected growth in core business, with robust liquidity and operational momentum.
Fiscal Year 2025
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Q4 2025 saw near-record results, driven by Gen-3 satellite adoption and strong international demand, with annual revenue up 16% and liquidity more than doubling. 2026 guidance projects 24% revenue growth, continued profitability, and major investments in satellite and AI capabilities.
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Strong international demand and Gen-3 contract wins drove momentum, with international revenue now half of total and a robust sales pipeline. Cash and liquidity more than doubled year-over-year, and guidance for 2025 is maintained, with a strong Q4 and 2026 outlook expected.
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Satellite imaging innovation is driving rapid revenue growth, with Gen-3 satellites enabling real-time, high-resolution monitoring and expanding international demand. Financial performance is strong, with positive EBITDA, a growing backlog, and plans for further satellite launches and analytics expansion.
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Revenue grew 5.2% year-over-year to $51.7M in H1 2025, driven by strong international demand and Gen-3 satellite performance. Liquidity surged to $230M after a $185M convertible note, and guidance for 2025 is $105–$130M revenue with positive adjusted EBITDA expected in H2.
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Q1 2025 saw 22% revenue growth, a 50% increase in backlog, and strong demand for Gen-3 satellite imagery and AI analytics. Liquidity rose to $136 million, and 2025 guidance was reaffirmed, with plans for 8 Gen-3 satellites by early 2026.
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Hourly satellite imagery and analytics drive strong growth, with major government contracts and high-margin recurring revenue. Gen 3 satellites will double resolution, supporting further expansion and profitability.
Fiscal Year 2024
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Achieved record financial performance in 2024 with positive adjusted EBITDA and strong revenue growth, driven by the successful launch of Gen-3 satellites and major multi-year contract wins. 2025 guidance projects 30% revenue growth, supported by a $390 million backlog and continued expansion of high-value services.
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Achieved strong year-to-date revenue growth of 22% and secured major multi-year contracts, including $780 million in new bookings. Maintained positive adjusted EBITDA for the fourth consecutive quarter, fully funded Gen-3 constellation, and reaffirmed full-year guidance.
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Q2 2024 saw 29% revenue growth, strong international expansion, and a third consecutive quarter of positive adjusted EBITDA. Gen-3 satellites are on track for late Q4 launch, supporting future growth, while full-year guidance remains unchanged.