Blacksky Technology Inc. ( (BKSY) ) has released its Q2 earnings. Here is a breakdown of the information Blacksky Technology Inc. presented to its investors.
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BlackSky Technology Inc. is a space-based intelligence company that provides real-time, high-frequency imagery and analytics, primarily serving government agencies and commercial businesses globally. In its second quarter of 2025, BlackSky reported significant advancements with the successful launch of its second Gen-3 satellite, which began delivering high-resolution imagery within 12 hours. The company also raised $185 million through a convertible note offering, enhancing its financial position.
Key financial highlights for the quarter included a revenue of $22.2 million, a slight decrease from the previous year, with imagery and software analytical services contributing $18 million. The company reported a backlog of $356 million, largely from international contracts, and a cash balance of $94.9 million, expected to exceed $170 million following recent transactions. Despite a net loss of $41.2 million, primarily due to derivative losses, BlackSky’s strategic initiatives, such as the AROS initiative and new international contracts, position it for future growth.
The company’s operating expenses increased slightly to $29.9 million, influenced by overhead costs from recent acquisitions. Adjusted EBITDA showed a loss of $2.8 million, attributed to increased operational costs and reduced engineering service revenues. BlackSky’s financial strategy included paying off existing debt with proceeds from the convertible note offering, further solidifying its balance sheet.
Looking ahead, BlackSky remains optimistic about its long-term prospects despite near-term volatility from government budget processes and international contract timings. The company maintains its revenue guidance for 2025 between $105 million and $130 million, with expectations of achieving break-even to $10 million in adjusted EBITDA, while continuing its capital expenditure plans.