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BlackSky Wins $14 Million in Orders to Monitor Critical Global Economic Activity
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BlackSky Technology (NYSE: BKSY) has secured $13.8 million in orders within the first year of a five-year contract with the National Geospatial-Intelligence Agency (NGA) to monitor global economic activity. These awards highlight the increasing demand for commercial, real-time monitoring services that deliver actionable insights on economic indicators.
BlackSky’s platform has successfully scaled to meet customer demand, collecting thousands of observations worldwide. The company provides high-frequency imaging and analytics, integrating seamlessly into existing workflows.
Positive
Secured $13.8 million in orders within the first year of a five-year NGA contract.
Demonstrated ability to scale observations to meet customer demand.
Growing demand for AI-driven economic monitoring services.
HERNDON, Va.--(BUSINESS WIRE)--
BlackSky Technology Inc. (NYSE: BKSY) has received a combined total of $13.8 million of orders to date within the first year of a five-year National Geospatial-Intelligence Agency (NGA) contract to monitor global economic activity.
“These awards underscore the growing demand for commercial real-time, AI-driven monitoring services that reveal economic activity at manufacturing hubs, major maritime ports, and airports around the world,” said Dr. Patrick O’Neil, BlackSky chief innovation officer. “BlackSky’s on-demand dynamic monitoring platform provides decision makers with actionable subscription-based insights on relevant global economic indicators at unprecedented speed and scale.”
Since winning the first order, BlackSky’s dynamic monitoring platform has collected thousands of observations over critical sites worldwide and demonstrated the ability to scale the quantity of observations to meet customer demand.
“BlackSky’s Spectra AI platform for multi-source analytics and satellite imagery collection gives customers direct access to high revisit, dawn-to-dusk imaging and analytics that seamlessly integrate into the existing GEOINT workflows,” O’Neil added.
Competitively procured, the orders are part of a five-year Indefinite-Delivery/Indefinite-Quantity (IDIQ) NGA contract announced in September 2021 to monitor global economic activity.
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.
What is the significance of BlackSky's recent $13.8 million orders?
The $13.8 million in orders underscores BlackSky's ability to secure contracts that validate the demand for their monitoring services within the first year of their NGA contract.
How does BlackSky's platform contribute to economic monitoring?
BlackSky’s platform provides real-time, AI-driven insights into global economic activity, enabling decision-makers to access critical information rapidly.
What contract did BlackSky win in September 2021?
In September 2021, BlackSky won a five-year contract with the NGA to monitor global economic activity, which has led to significant orders within the first year.
How does BlackSky ensure the collection of observations?
BlackSky’s dynamic monitoring platform has shown the capability to scale and collect thousands of observations over critical sites worldwide as per customer demand.
