BlackSky Wins $10 Million Follow-On Contract for High-Frequency Imagery Services with Asian Government Ally

Rhea-AI Summary

BlackSky Technology (NYSE: BKSY) has secured a $10 million contract to provide on-demand, real-time high-resolution imagery services to an international ministry of defense in Asia for one year. This contract signifies a five-fold increase in capacity usage by the client compared to the previous year, highlighting the growing demand for high-frequency imagery and analytics. The company reports delivering thousands of images monthly, providing critical insights into economically significant infrastructures.

Positive

• Secured a $10 million contract for one year with a defense ministry in Asia.
• Five-fold increase in capacity usage by the client over the past year.
• Growing international customer base indicates strong demand for geospatial intelligence.

Negative

• None.

Contract reflects growing demand and momentum in the international markets for high-frequency, dawn-to-dusk imagery and analytics

HERNDON, Va.--(BUSINESS WIRE)-- BlackSky Technology Inc. (NYSE: BKSY) was awarded a one-year $10 million contract to provide on-demand, real-time high-resolution imagery services to an international ministry of defense customer in Asia.

“BlackSky’s growing traction in international markets reflects strong global demand for high-frequency, dawn-to-dusk imagery and analytics,” said BlackSky Vice President of International Sales and Business Development Andy Stephenson. “This contract reflects a five-fold increase in capacity use over last year by this client as BlackSky’s on-demand imagery tasking with low-latency delivery has become an essential part of their daily operations, now and in the future.”

BlackSky’s quickly expanding international customer base is experiencing a new age of actionable intelligence for international governments, commercial customers, and non-governmental organizations.

“We deliver thousands of images and analytics every month to organizations worldwide, delivering transparency and insights into border crossings, nuclear and port facilities, and other economically critical infrastructure at scale,” Stephenson added.

About BlackSky

BlackSky is a leading provider of real-time geospatial intelligence. BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of the most critical and strategic locations, economic assets, and events in the world.

BlackSky designs, owns and operates one of the industry’s leading low earth orbit small satellite constellations, optimized to capture imagery cost-efficiently where and when our customers need it. BlackSky’s Spectra AI software platform processes data from BlackSky’s constellation and from other third-party sensors to develop the critical insights and analytics that our customers require.

BlackSky is relied upon by U.S. and international government agencies, commercial businesses, and organizations around the world. BlackSky is headquartered in Herndon, VA, and is publicly traded on the New York Stock Exchange as BKSY. To learn more, visit www.blacksky.com and follow us on Twitter.

Forward-Looking Statements

Certain statements in this press release may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this communication. We anticipate that subsequent events and developments will cause their assessments to change. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky’s disclosure materials filed from time to time with the SEC which are available at the SEC’s website at http://www.sec.gov or on BlackSky’s Investor Relations website at https://ir.blacksky.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221025005477/en/

Investors

Aly Bonilla

VP, Investor Relations

abonilla@blacksky.com

Media

Pauly Cabellon

Director, External Communications

pcabellon@blacksky.com

Source: BlackSky Technology Inc.

FAQ

What recent contract did BlackSky Technology secure?

BlackSky Technology secured a $10 million contract to provide high-resolution imagery services to an international ministry of defense in Asia.

How much did the capacity usage increase for BlackSky's client?

The capacity usage by BlackSky's client increased five-fold compared to the previous year.

What is the stock symbol for BlackSky Technology?

The stock symbol for BlackSky Technology is BKSY.

What kind of services does BlackSky provide under the new contract?

BlackSky provides on-demand, real-time high-resolution imagery and analytics services.

Where is BlackSky Technology headquartered?

BlackSky Technology is headquartered in Herndon, Virginia.