BlackSky Technology Inc. - BKSY STOCK NEWS

BlackSky Technology (NYSE: BKSY) has been selected by the National Geospatial-Intelligence Agency (NGA) as one of the vendors for the $200 million Luno B commercial data indefinite delivery, indefinite quantity (IDIQ) contract. The contract aims to provide the national security community with timely access to high-quality commercial GEOINT and enable NGA to lead in applying GEOINT artificial intelligence.

Through this contract, GEOINT users will access data and analytic services to enhance analytic assessments of worldwide economic, environmental, and geo-political activities. The Luno B contract features a five-year base ordering period with a $200M ceiling, where vendors will compete for future delivery orders.

BlackSky Technology (NYSE: BKSY) has secured a one-year extension of its Electro-Optical Commercial Layer (EOCL) contract with the National Reconnaissance Office (NRO) ahead of schedule. The extension, which runs until mid-2026, includes enhanced ground architecture features to improve image searchability and utility.

The contract extension represents the fourth year of a potential 10-year EOCL agreement and demonstrates NRO's confidence in BlackSky's Gen-2 imagery services. The company's capabilities include hourly revisit rates and delivery of time-diverse imagery and analytics up to 15 times per day, from dawn to dusk.

BlackSky's system leverages AI-driven automation and constellation design to provide rapid intelligence capabilities to end-users, from senior leaders to warfighters in the field.

BlackSky Technology Inc. (NYSE: BKSY) has secured multiple rapid procurement contracts through the U.S. Space Force's Global Data Marketplace (GDM) for its analytics services, supporting Tactical Surveillance, Reconnaissance and Tracking (TacSRT) missions. The contracts focus on delivering AI-enabled analytics to U.S. combatant commands worldwide.

The GDM, now one year in operation, enhances access to BlackSky's dynamic monitoring capabilities. The platform supports Space Systems Command's TacSRT pilot program, designed to provide U.S. military commands with rapid insights for critical areas globally. The competitive, short-duration TacSRT contracts combine multiple commercial data providers to address real-time operational planning needs, covering areas from violent extremism to humanitarian response and threat identification.

BlackSky Technology Inc. (NYSE: BKSY) is set to participate in the 27th Annual Needham Growth Conference. The event will take place virtually on Thursday, January 16, 2025, at 2:15 p.m. ET. The company's chief financial officer, Henry Dubois, will present key insights and updates.

Interested parties can contact a Needham sales representative for more information or to arrange a one-on-one meeting with BlackSky Technology during the conference.

BlackSky Technology (NYSE: BKSY) has announced its participation in three major investor conferences. The company will attend the Deutsche Bank 2024 Global Space Summit on November 20, 2024, where CEO Brian O'Toole will participate in a panel at 2:00 p.m. EST in New York. Additionally, BlackSky will be present at the UBS Global Industrials and Transportation Conference on December 4, 2024, in Palm Beach, FL, and the Benchmark 13th Annual Discovery One-on-One Investor Conference on December 11, 2024, in New York.

BlackSky Technology (NYSE: BKSY) reported its Q3 2024 financial results with revenue of $22.5M, representing a 6% year-over-year increase. The company's Imagery and Software Analytics segment grew 13.2% to $17.3M. Consolidated gross margins improved to 70.5% from 68.2% in 3Q23. The company achieved positive adjusted EBITDA of $0.7M, marking the fourth consecutive quarter of positive adjusted EBITDA, though falling short of consensus estimates. Notable developments include the addition of non-Earth imaging services to its offerings.

BlackSky Technology reported Q3 2024 results with revenue of $22.5 million, up 6% year-over-year. The company secured new awards valued up to $780 million, including contracts with the National Geospatial-Intelligence Agency ($290M) and NASA ($476M). Imagery & software analytical services revenue grew 13% with improved cost efficiency. The company successfully raised over $45 million to fund its Gen-3 constellation development, with the first satellite completing final pre-ship testing. BlackSky reaffirmed its full-year 2024 guidance of $102-118 million in revenue and $8-16 million in adjusted EBITDA.

The Space Development Agency (SDA) has selected LeoStella and BlackSky for the Hybrid Acquisition for Proliferated Low-Earth Orbit (HALO) program, allowing nontraditional defense contractors to develop rapid on-orbit mission feasibility prototypes. LeoStella, with BlackSky as a subcontractor, joins 18 other vendors in the HALO pool. LeoStella has delivered 23 satellites since 2018, with 19 currently operating in LEO maintaining over 99% uptime. This selection enables both companies to compete for upcoming Tranche 3 SDA opportunities and leverage their combined experience in space-based monitoring capabilities.

BlackSky Technology Inc. (NYSE: BKSY) has announced it will host a conference call to discuss its third quarter 2024 financial results and business outlook on Thursday, November 7, 2024, at 8:30 a.m. EST. A press release containing the financial results will be released earlier the same day. Investors 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 (US) or 1-646-307-1963 (international) using conference ID 8425999 or 'BlackSky'. A replay of the call will be available until November 21, 2024, by dialing 1-877-660-6853 (US) or 1-201-612-7415 (international) with access code 13749731.