IARPA Selects BlackSky Spectra® Software Platform as Leading Space-Based AI Approach for Bringing Speed and Scalability to Broad Area Search Mission

Rhea-AI Summary

BlackSky Technology Inc. (NYSE: BKSY) has won a contract from IARPA to move into the final phase of the SMART program, emphasizing the transfer of broad area search technologies into other U.S. government programs. The company's AI tools now analyze over 20% of the Earth's surface every month, generating value for other U.S. government search and discovery efforts. BlackSky's AI tools have detected and classified over two million change observations with high accuracy over 120 thousand distinct sites.

Insights

Market Research Analyst

The contract awarded to BlackSky Technology Inc. by the Intelligence Advanced Research Projects Activity (IARPA) to proceed into Phase III of the SMART program represents a significant milestone for the company. The transition of SMART broad area search technologies into other U.S. government programs underlines the scalability and adaptability of BlackSky's machine learning operations (MLOps) architecture. This development is indicative of the company's potential to secure additional revenue streams through government contracts, which could positively influence investor sentiment and the company's stock valuation.

Moreover, the ability of BlackSky's AI tools to analyze more than 30 million square kilometers of the Earth's surface monthly demonstrates a robust operational capacity. This level of analysis, coupled with the detection and classification of over two million change observations, suggests a competitive edge in the geospatial analytics market. For investors, these operational achievements could hint at BlackSky's capability to handle large-scale contracts and possibly expand into new markets, thereby potentially increasing market share and driving long-term growth.

Defense Technology Analyst

BlackSky's progression to Phase III in the SMART program and the integration of its technology into broader U.S. government initiatives is a testament to the company's technical proficiency in defense-related technologies. The focus on broad area search and discovery techniques is crucial for intelligence and defense applications, as it provides comprehensive situational awareness. The fact that BlackSky's AI tools have been evaluated for performance, cost and scalability and have been adopted for operational use suggests a high level of confidence in the technology's reliability and efficiency.

From a defense technology perspective, the high degree of accuracy in detecting and classifying changes over a vast number of sites could indicate that BlackSky is at the forefront of innovation within the geospatial intelligence sector. This could lead to sustained demand for the company's services from the government sector, which is often characterized by long-term contracts and stable funding. The implications for stakeholders include potential increases in the company's valuation and a stronger bargaining position in future contract negotiations.

Geospatial Intelligence Expert

The application of BlackSky's AI tools in broad area search missions is a significant advancement in the field of geospatial intelligence. The ability to analyze extensive datasets from satellite imagery and detect changes with high accuracy is critical for intelligence organizations to monitor and understand aggregate changes over time. This capability allows for quick response to global events and supports decision-making processes that depend on timely and reliable geospatial data.

For stakeholders in the geospatial intelligence community, the integration of BlackSky's technology into ongoing government programs could signal an enhancement in the quality and speed of intelligence gathering. This can lead to improved national security measures and more informed policy decisions. Additionally, the commercialization potential of such technologies could extend benefits to civilian industries that rely on geospatial data, such as agriculture, urban planning and environmental monitoring, potentially broadening BlackSky's customer base and diversifying its revenue portfolio.

BlackSky AI tools developed under SMART program now analyze more than 20 percent of the Earth’s surface every month

HERNDON, Va.--(BUSINESS WIRE)-- BlackSky Technology Inc. (NYSE: BKSY) won a contract from the Intelligence Advanced Research Projects Activity (IARPA) to move forward into the third and final phase of the multi-year Space-based Machine Automated Recognition Technique (SMART) program. Phase III emphasizes the transfer of SMART broad area search technologies into other U.S. government programs.

“BlackSky built a high-performance machine learning operations (MLOps) architecture for the SMART program that was originally designed to manage the analysis of one million square kilometers of land,” said Patrick O’Neil, BlackSky chief technology officer. “That foundational technology is now generating value elsewhere on other U.S. government search and discovery efforts, where we are analyzing more than 30 million square kilometers - more than 20 percent - of the Earth’s surface every month.”

Focused over large areas of the Earth’s surface, broad area search and discovery techniques help intelligence organizations get a wide-angle, baseline picture of aggregate change over time. For the SMART Program, all participants’ artificial intelligence (AI) change detection tools were deployed and evaluated for performance, cost and scalability within BlackSky’s MLOps architecture.

“BlackSky is using AI to reshape the broad area search mission with industry-leading speed and economics,” said O’Neil. “We have taken the lessons learned from SMART Phases I and II, folded them back into BlackSky Spectra, and quickly proven these investments can excel in an operational setting.”

With the core technology developed under the SMART program, BlackSky’s AI tools have detected and classified more than two million change observations with a high degree of accuracy over 120 thousand distinct sites after having analyzed five years of historic broad area satellite imagery from government and commercial sources.

About BlackSky

BlackSky is a real-time, space-based intelligence company that delivers on-demand, high frequency imagery, analytics, and high-frequency monitoring of the most critical and strategic locations, economic assets, and events in the world. BlackSky owns and operates one of the industry’s most advanced, purpose-built commercial, real-time intelligence system that combines the power of the BlackSky Spectra® tasking and analytics software platform and our proprietary low earth orbit satellite constellation.

With BlackSky, customers can see, understand and anticipate changes for a decisive strategic advantage at the tactical edge, and act not just fast, but first. BlackSky is trusted by some of the most demanding 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 X (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/20240130852929/en/

Investor Contact

Aly Bonilla

VP, Investor Relations

abonilla@blacksky.com

Media Contact

Pauly Cabellon

Director, External Communications

pcabellon@blacksky.com

Source: BlackSky Technology Inc.

FAQ

What is the ticker symbol of BlackSky Technology Inc.?

The ticker symbol of BlackSky Technology Inc. is BKSY.

What is the SMART program?

The SMART program is the Space-based Machine Automated Recognition Technique program, focused on broad area search and discovery techniques.

How much of the Earth's surface does BlackSky's AI tools analyze every month?

BlackSky's AI tools analyze more than 20% of the Earth's surface every month.

How many change observations have BlackSky's AI tools detected and classified?

BlackSky's AI tools have detected and classified over two million change observations with high accuracy.

What is the role of BlackSky's MLOps architecture in the SMART program?

BlackSky's MLOps architecture was designed to manage the analysis of one million square kilometers of land and is now generating value elsewhere on other U.S. government search and discovery efforts.

What has been the impact of the core technology developed under the SMART program?

BlackSky's AI tools have reshaped the broad area search mission with industry-leading speed and economics, detecting and classifying change observations with high accuracy over historic broad area satellite imagery from government and commercial sources.