BlackSky is a leading provider of real-time geospatial intelligence, operating its own constellation of Earth observation satellites in low Earth orbit. The company delivers on-demand, high-frequency imagery, monitoring, and analytics of critical locations and events using its AI-powered Spectra platform. BlackSky serves government organizations and commercial enterprises, providing them with timely insights and data for strategic decision-making.
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BlackSky received a first order for $1,700,000 in imagery services under the Commercial Smallsat Data Acquisition (CSDA) program with NASA.
BlackSky ramped up and achieved daily delivery rates of advanced imaging subscription services under the Electro Optical Commercial Layer (EOCL) contract with the National Reconnaissance Office valued at up to $1,000,000,000 over the next 10 years.
BlackSky received multiple task order awards under its Economic Indicator Monitoring contract with the National Geospatial-Intelligence Agency, resulting in $14,000,000 in total orders received within the first year of the five-year, $30,000,000 contract.
Cost of sales as a percent of revenue was 46% for BlackSky in the third quarter of 2022, compared to 159% in the third quarter of 2021.
BlackSky generated $15,000,000 of imagery and software analytical services revenue in the third quarter of 2022.
BlackSky’s operating expenses were $44,200,000 in the third quarter of 2021, which included $25,600,000 of non-cash stock-based compensation expense.
BlackSky expects full year 2022 revenue to achieve the upper end of its previously provided guidance range of between $62,000,000 and $66,000,000.
BlackSky’s third quarter 2022 revenue of $16,900,000 was up 113% from the third quarter of 2021.
Excluding stock-based compensation, BlackSky’s operating expenses increased to $25,600,000 in the third quarter of 2022 from $18,600,000 in the third quarter of 2021.
BlackSky Technology Inc. generated total revenue of $16,900,000 for the third quarter ended 2022-09-30.
BlackSky’s capital expenditures totaled $34,300,000 for the nine months ended 2022-09-30.
BlackSky’s Adjusted EBITDA loss improved by $9,800,000 year-over-year to a $6,500,000 loss in the third quarter of 2022 from a $16,300,000 loss in the third quarter of 2021.
BlackSky’s operating loss was $19,400,000 in the third quarter of 2022, compared to an operating loss of $48,900,000 in the third quarter of 2021.
BlackSky incurred an Adjusted EBITDA loss of $6,500,000 in the third quarter of 2022.
For BlackSky’s imagery and software analytical services, cost of sales as a percent of revenue was 35% in the third quarter of 2022, compared to 111% in the third quarter of 2021.
BlackSky expects capital expenditures for full year 2022 to be between $52,000,000 and $56,000,000.
BlackSky won a $10 million, one-year follow-on subscription contract with an international ministry of defense customer in Asia to provide on-demand, high-frequency imagery services on a take-or-pay basis.
BlackSky reported a net loss of $13,000,000 for the third quarter of 2022.
The People’s Liberation Army Daily ran a commentary on 2022-04-11 asserting that companies such as Maxar and BlackSky provided satellite imagery of Russian troop movements to Ukraine.
As a member of BlackSky’s executive leadership team, Jon Kirchner will deliver product solutions that leverage the company’s Spectra AI tasking and analytics platform and its high-revisit, high-resolution satellite constellation.