BlackSky Technology Inc. - BKSY STOCK NEWS

BlackSky Technology reported a strong performance for the full year 2022, achieving total revenue of $65.4 million, a 92% increase from the previous year. The fourth quarter alone saw revenues of $19.4 million, up 69%, driven by a 196% rise in imagery and software analytical services. BlackSky secured contracts worth up to $1.3 billion and expects 2023 revenues to range from $90 million to $96 million, marking a 42% growth. The company aims for positive adjusted EBITDA in Q4 2023, supported by a $150+ million contract with a major defense ministry and a successful $29.5 million private placement.

Spaceflight Inc. announced the upcoming launch of two BlackSky satellites aboard Rocket Lab's mission, "The Beat Goes On," from New Zealand. These satellites will expand BlackSky's constellation to 16 units, all manufactured by LeoStella. Spaceflight has supported all previous BlackSky satellite launches, highlighting a strong partnership. This mission emphasizes the importance of rapid access to space and efficient smallsat design. Additionally, Spaceflight aims to conduct up to 10 launches in 2023, continuing to innovate with its Sherpa OTV program for more flexible satellite delivery.

Rocket Lab is set to launch two dedicated Electron missions in March, utilizing its sites in Virginia and New Zealand. The first mission will deploy two SAR satellites for Capella Space, enhancing their imaging capabilities. Concurrently, the second mission will deliver two Earth-imaging satellites for BlackSky, expanding their geospatial intelligence services. Both launches demonstrate Rocket Lab's efficient launch turnaround and responsiveness to market demands. The missions are being conducted under established agreements, with a total of nine BlackSky satellites launched by Rocket Lab to date. These developments underscore Rocket Lab's competitive standing in the small satellite market.

Brian E. O’Toole, CEO of BlackSky Technology (NYSE: BKSY), has been nominated for Via Satellite’s 2022 Satellite Executive of the Year Award. This award recognizes significant contributions to the satellite industry, including technological innovations and best practices. Under O'Toole’s leadership, BlackSky doubled its satellite constellation capacity and secured a historic contract worth over $1 billion over the next decade. Voting for the award closes at noon ET on March 14, with the winner announced at the SATELLITE 2023 event on March 15.

BlackSky Technology Inc. (NYSE: BKSY) will host a conference call on March 7, 2023, at 8:30 a.m. ET to discuss its Q4 and full year 2022 results and business outlook. A press release with financial results will precede the call. Participants can access the live and archived webcasts via the company's investor relations website. For those wishing to join the call, dial-in numbers are 1-877-589-7299 (domestic) and 1-201-689-8778 (international). An audio replay will be available from 12:30 PM ET on March 7 until March 21, 2023.

LeoStella, a U.S.-based satellite design and manufacturing company, has appointed Tim Kienberger as its new CEO, succeeding Mike Hettich, who has retired after leading the company since 2019. Kienberger, with three decades of experience in aerospace and defense, will guide LeoStella through significant market growth, as demand for small satellites is expected to triple in the coming years. The company, a joint venture between Thales Alenia Space and BlackSky (BKSY), aims to enhance its satellite production capabilities to meet the increasing market demand.

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.