Blacksky Technology Inc Stock Price, News & Analysis

BlackSky Technology (NYSE: BKSY) has announced plans to offer $125 million in Convertible Senior Notes due 2033 through a private offering to qualified institutional buyers. The company will also grant initial purchasers an option to buy an additional $18.75 million in notes.

The notes will be unsecured obligations with semiannual interest payments. Upon conversion, BlackSky can choose to settle in cash, shares of Class A common stock, or a combination of both. The company plans to use $103.1 million to repay outstanding secured term loan facility, $10.2 million to repay revolving credit facility, and the remainder for general corporate purposes.

BlackSky Technology (NYSE: BKSY) has secured a competitive, multimillion-dollar contract with a new international defense customer for Gen-3 and Gen-2 Assured services extending through 2029. The agreement includes immediate subscription-based imagery and analytics services along with ground segment modernization services.

The contract features guaranteed tasking capacity for persistent monitoring and includes upgrading the customer's existing ground station and mission operations center with direct-downlink capabilities. The customer will utilize BlackSky's Spectra® AI-enabled platform to order and analyze data from Gen-3 and Gen-2 satellites for automated object detection and classification.

BlackSky Technology (NYSE: BKSY) has secured a significant contract expansion with an existing international customer supporting Ukraine, adding Gen-3 very high-resolution satellite imagery capabilities to their current Gen-2 services.

The agreement highlights the synergistic relationship between BlackSky's satellite generations, combining Gen-2's low-latency, high-cadence monitoring with Gen-3's 35-centimeter resolution imagery. The integration enables enhanced military and intelligence operations through BlackSky's Spectra® platform.

Currently, BlackSky has two Gen-3 satellites in orbit and plans to expand to a six-satellite Gen-3 constellation by the end of 2025.

BlackSky Technology (NYSE:BKSY) has secured a significant $24 million, four-year delivery order from the National Geospatial-Intelligence Agency (NGA) for the Luno A Facility Operational Monitoring (FOMO) program. The company has received an initial $2 million base and surge option award.

The contract involves using BlackSky's AI-enabled monitoring capabilities to detect objects and pattern-of-life changes at military and economic facilities worldwide. The company currently monitors over 30 million square kilometers of Earth's surface for NGA. This award is part of a larger five-year, $290 million Luno A multi-award contract announced in October for global monitoring services.

BlackSky Technology (NYSE: BKSY) announced plans to expand its satellite constellation with new AROS multispectral, large-area collection satellites, scheduled for launch in 2027. These satellites will complement their Gen-3 high-frequency monitoring capabilities, supporting country-scale digital mapping, navigation, maritime, and 3D digital twin applications. AROS will address market gaps as legacy satellites age out, offering enhanced capabilities with better economics. Key features include very high-resolution multispectral collectors, low-latency delivery via optical inter-satellite links, and a proprietary AI-enabled data pipeline. This expansion follows BlackSky's successful Gen-3 launches, where they achieved first light in under 24 hours and commissioning in under 60 days. The development leverages BlackSky's recent LeoStella acquisition and builds upon their proven Gen-2 and Gen-3 architectures.

BlackSky Technology (NYSE: BKSY) has successfully delivered the first very high-resolution images from its second Gen-3 satellite within 12 hours of launch. The satellite demonstrated its capabilities by capturing detailed imagery of Golmud Air Base in China, showing 13 military aircraft and various facilities. The Gen-3 satellite provides 35-centimeter very high-resolution imagery with AI-enabled automated detection analytics, offering customers subscription-based access to real-time monitoring capabilities. The system can identify and classify vehicles, aircraft, vessels, and other military assets, providing valuable intelligence for defense operations. CEO Brian O'Toole emphasized that this achievement showcases BlackSky's ability to deliver space-based intelligence at warfighter speed, complementing national space assets with commercial capabilities.

BlackSky Technology Inc. (BKSY) and Rocket Lab USA have set a launch window opening May 27 for BlackSky's second Gen-3 satellite. The "Full Stream Ahead" mission will enhance BlackSky's capabilities with 35-centimeter very high-resolution imaging. The company has secured multiple early access contracts for Gen-3 services, with commercial availability expected in Q4.

BlackSky plans to deploy eight Gen-3 satellites by early 2026, focusing on advanced AI-enabled automation and space-based intelligence. The new satellites will enable automated detection and classification of vehicles, aircraft, vessels, and other tactical objects, strengthening BlackSky's capabilities in tactical ISR missions and strategic intelligence operations.

BlackSky Technology (NYSE: BKSY) has secured multiple early access agreements with international defense sector customers for its Gen-3 real-time space-based monitoring capabilities. The subscription-based contracts will enable customers to integrate 35-centimeter very high-resolution imagery into their daily intelligence operations through the BlackSky Spectra® platform.

Customers will have access to high-cadence, time-diverse dawn-to-dusk Gen-2 and Gen-3 imagery along with AI-enabled analytics. The contracts are structured to scale as BlackSky increases its Gen-3 capacity. The company currently serves thousands of high-resolution images monthly to its global customer base, providing intelligence on critical infrastructure including border crossings, nuclear facilities, and ports.

BlackSky Technology (NYSE: BKSY) reported mixed Q1 2025 results with revenue of $29.5M, exceeding analyst estimates of $27.2M-$27.6M. The company posted an adjusted EBITDA of ($0.6M) and EPS of ($0.42). The Imagery segment revenue declined to $16.8M from $17.8M YoY due to project timing variations, while Professional Services revenue significantly increased to $12.7M from $6.4M YoY, driven by an Indian Earth observation contract. Gross margins decreased to 57.4% from 77.4% QoQ due to a satellite asset sale. Notably, the company's backlog grew 40% QoQ to $366.1M, and Gen-3 commercial availability is expected in Q4 2025.