BlackSky Technology Inc. - BKSY STOCK NEWS

BlackSky Technology Inc. (NYSE: BKSY) announced an increase in the ceiling value of its five-year indefinite contract with the National Geospatial Intelligence Agency from $30 million to $60 million. This change highlights the growing demand for BlackSky's real-time, AI-driven monitoring capabilities focused on global economic indicators.

BlackSky's platform has already generated $14 million in orders within the first year, demonstrating its scalability and effectiveness in delivering timely insights.

BlackSky Technology reported a 113% increase in Q3 2022 revenue to $16.9 million, driven by strong demand for its imagery and software analytical services, which accounted for 89% of total revenue. The company experienced a net loss of $13.0 million and an Adjusted EBITDA loss of $6.5 million. Cash reserves stood at $90.7 million. BlackSky anticipates achieving the upper end of its full-year revenue guidance of $62-$66 million. Recent contracts include a $1 billion deal with the National Reconnaissance Office and a $10 million contract with an Asian defense customer.

BlackSky Technology Inc. (NYSE: BKSY) will participate in three key investor conferences in November 2022, showcasing its leadership in real-time geospatial intelligence. The events include the Deutsche Bank 2022 Global Space Summit on November 9, the NYSE Industrials Investor Access Day on November 15, and the Roth Capital 11th Annual Technology Event on November 16. Attendees can engage in one-on-one meetings with management at these virtual and in-person events. For more details, visit BlackSky's investor relations website.

BlackSky Technology has appointed Jon Kirchner as its new Chief Product Officer, aiming to enhance its product offerings and meet the rising global demand for real-time geospatial intelligence. Kirchner brings 30 years of experience in product development and leadership, having previously worked with various companies in the space and technology sectors. CEO Brian E. O’Toole emphasized Kirchner's role in advancing the company’s product portfolio and accelerating customer reach, especially in government and commercial markets.

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.

BlackSky Technology Inc. (NYSE: BKSY) will hold a conference call on Tuesday, November 8, 2022, at 8:30 AM ET to discuss its third quarter 2022 results and business outlook. A press release detailing financial results will be issued the same day. Interested participants can access the live or archived webcast via the company's investor relations website. For the conference call, dial-in numbers include 1-877-589-7299 (domestic) and 1-201-689-8778 (international). A replay will be available from 12:30 PM ET on November 8 through November 22, 2022.

BlackSky Technology has filed two S-3 Registration Statements with the SEC. The first registers previously issued securities, converting an S-1 into an S-3 without new share issuances. The second is a shelf registration allowing future issuance of various securities, providing capital market access as needed for the Company and stockholders. BlackSky offers real-time geospatial intelligence through a satellite constellation, and aims for prudent corporate governance.

BlackSky Technology has partnered with Skytec to integrate hourly, high-resolution satellite imagery into Skytec's Ranger™ platform via Esri ArcGIS Online. This collaboration allows Skytec users to access BlackSky's dynamic imagery products efficiently. The integration aims to enhance geospatial intelligence for industries including natural resource management and corporate sustainability. BlackSky is focused on providing real-time insights through its low earth orbit satellite constellation, catering to government and commercial clients worldwide.

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.