BlackSky Technology (BKSY) AI Stock Analysis

• Market Cap: $638.87M
• Dividend Yield: N/A
• Average Volume (3M): 2.03M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.47
• Revenue Growth: -5.13%
• EPS Growth: -37.34%
• Country: US
• Employees: 340
• Sector: Industrials
• Sector Strength: 72
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.44
• Shares Outstanding: 35,992,596
• 10 Day Avg. Volume: 2,343,196
• 30 Day Avg. Volume: 2,032,951
• PEG Ratio: 0.25
• Price to Book (P/B): 2.46
• Price to Sales (P/S): 2.27
• P/FCF Ratio: -10.49
• Enterprise Value/Market Cap: 1.20
• Enterprise Value/Revenue: 7.51
• Enterprise Value/Gross Profit: 12.46
• Enterprise Value/Ebitda: -18.28
• 1Y Price Target: $27.00
• Price Target Upside: 52.11% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): -2.25
• Revenue Forecast (FY): $109.46M

• Rating: 41 Neutral
• Price Target: $16.50 ▼(-7.04% Downside)

BlackSky Technology's overall stock score is primarily impacted by its poor financial performance, characterized by declining revenues, high leverage, and severe cash flow issues. Technical analysis provides mixed signals, with bearish momentum prevailing. Valuation metrics are unattractive due to a negative P/E ratio and lack of dividend yield. Despite some positive growth prospects highlighted in the earnings call, the financial challenges significantly weigh down the overall score.

Positive Factors

International Demand

Strong international demand for Gen-3 services indicates expanding global market reach and potential for sustained revenue growth.

Gen-3 Satellite Expansion

The expansion of the Gen-3 constellation enhances service capabilities, supporting long-term competitive positioning in the satellite imagery market.

Cash Position

A strengthened cash position provides financial flexibility to invest in growth initiatives and support operations, improving long-term stability.

Negative Factors

Revenue Decline

Contract reductions leading to revenue decline pose risks to financial performance and may hinder growth prospects if not offset by new business.

High Leverage

High leverage increases financial risk, potentially limiting the company's ability to invest in growth and impacting long-term financial health.

Negative Cash Flow

Negative cash flow challenges the company's ability to sustain operations and invest in strategic initiatives, impacting future growth potential.

BlackSky Technology Business Overview & Revenue Model

Company Description

BlackSky Technology Inc. provides geospatial intelligence, imagery and related data analytic products and services, and mission systems that include the development, integration, and operations of satellite and ground systems to commercial and government customers worldwide. The company processes a range of observations from its constellation, as well as various space, internet-of-things, and terrestrial based sensors and data feeds. Its products are used in government defense and intelligence; commercial, construction, and industrial; and catastrophe, climate, and environment applications. The company was incorporated in 2014 and is headquartered in Herndon, Virginia.

How the Company Makes Money

BlackSky Technology generates revenue primarily through the sale of satellite imagery and geospatial analytics services. Its revenue model includes subscription-based offerings, where clients pay for ongoing access to data and analytics, as well as one-time purchases of specific imagery and reports. Key revenue streams also stem from contracts with government agencies and defense organizations that require high-resolution imagery for reconnaissance and surveillance purposes. Additionally, partnerships with technology firms and data integrators enhance its service offerings and market reach, contributing to revenue growth. The company may also explore collaborative projects and joint ventures to expand its capabilities and client base.

BlackSky Technology Financial Statement Overview

Summary

BlackSky Technology is facing significant financial challenges. The income statement shows declining revenues and profitability, with negative margins and growth rates. The balance sheet reveals high leverage and negative returns, increasing financial risk. The cash flow statement indicates severe cash flow issues, with declining free cash flow and negative operating cash flow. Overall, the company is struggling with declining financial performance, high leverage, and cash flow challenges, posing risks to its financial stability and future growth prospects.

Income Statement

BlackSky Technology's income statement reveals significant challenges. The company has experienced a decline in revenue growth, with a negative growth rate of -2.8% in the TTM period. Margins are under pressure, with a negative net profit margin of -87.3% and an EBIT margin of -73.2%, indicating substantial losses. The gross profit margin has decreased from 73.1% in 2024 to 53.2% in the TTM period, reflecting declining profitability. Overall, the income statement shows a struggling financial performance with declining revenues and profitability.

Balance Sheet

The balance sheet of BlackSky Technology indicates high leverage, with a debt-to-equity ratio of 2.23 in the TTM period, up from 1.24 in 2024. This suggests increased financial risk due to higher debt levels. The return on equity is negative at -98.6%, reflecting poor profitability relative to shareholder equity. The equity ratio stands at 23.9%, indicating a moderate level of equity financing. Overall, the balance sheet highlights concerns over high leverage and negative returns, posing risks to financial stability.

Cash Flow

The cash flow statement shows significant challenges for BlackSky Technology. The free cash flow growth rate is highly negative at -1921.5% in the TTM period, indicating a substantial decline in cash generation. The operating cash flow to net income ratio is negative at -0.40, reflecting insufficient cash flow to cover net losses. The free cash flow to net income ratio is positive at 1.74, suggesting some ability to generate cash relative to net losses. Overall, the cash flow statement highlights severe cash flow issues, with declining free cash flow and negative operating cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2023	Dec 2023	Dec 2023
Income Statement
Total Revenue	101.73M	102.09M	94.49M	94.49M	94.49M	94.49M
Gross Profit	61.34M	74.66M	60.71M	60.71M	60.71M	60.71M
EBITDA	-41.80M	-542.00K	434.00K	434.00K	434.00K	434.00K
Net Income	-88.81M	-57.22M	-53.86M	-53.86M	-53.86M	-53.86M
Balance Sheet
Total Assets	380.86M	254.15M	224.07M	224.07M	224.07M	224.07M
Cash, Cash Equivalents and Short-Term Investments	147.59M	52.46M	52.51M	52.51M	52.51M	52.51M
Total Debt	202.70M	116.49M	87.16M	87.16M	87.16M	87.16M
Total Liabilities	289.80M	160.16M	130.91M	130.91M	130.91M	130.91M
Stockholders Equity	91.06M	93.99M	93.16M	93.16M	93.16M	93.16M
Cash Flow
Free Cash Flow	-41.73M	-22.06M	-61.14M	-61.14M	-61.14M	-61.14M
Operating Cash Flow	-20.24M	-6.38M	-17.42M	-17.42M	-17.42M	-17.42M
Investing Cash Flow	-151.28M	-68.33M	-15.21M	-15.21M	-15.21M	-15.21M
Financing Cash Flow	144.13M	55.66M	29.05M	29.05M	29.05M	29.05M

BlackSky Technology Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.75
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BKSY, the sentiment is Positive. The current price of 17.75 is above the 20-day moving average (MA) of 16.50, below the 50-day MA of 21.16, and above the 200-day MA of 15.94, indicating a neutral trend. The MACD of -1.52 indicates Negative momentum. The RSI at 49.77 is Neutral, neither overbought nor oversold. The STOCH value of 88.49 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BKSY.

BlackSky Technology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LYTS	66 Neutral	$569.00M	22.77	11.03%	1.09%	22.35%	2.59%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
KULR	51 Neutral	$128.35M	―	-29.07%	―	71.92%	31.84%
KOPN	44 Neutral	$432.62M	―	-27.91%	―	3.02%	90.87%
MVIS	44 Neutral	$319.02M	-2.70	-112.89%	―	-67.66%	13.39%
BKSY	41 Neutral	$638.87M	―	-88.03%	―	-5.13%	-37.34%
SATL	41 Neutral	$224.88M	―	―	―	―	―

BlackSky Technology Corporate Events

BlackSky’s Earnings Call: Growth Amid Challenges

The recent earnings call for BlackSky Technology Inc. presented a mixed sentiment, reflecting both optimism and challenges. On the positive side, there is strong international demand for BlackSky’s Gen-3 services, and the company has successfully expanded its cash position, indicating promising growth prospects. However, the negative impact of EOCL contract reductions and increased cash operating expenses has weighed on the company’s financial performance. While the highlights show potential for growth, the lowlights reveal significant financial hurdles.

BlackSky Technology Reports Strong Q3 2025 Results

BlackSky Technology Inc. is a space-based intelligence company that provides real-time imagery and analytics services, primarily operating in the aerospace and defense sector. The company is known for its advanced satellite constellation and analytics software platform.

BlackSky Technology Holds Annual Stockholders Meeting

On September 10, 2025, BlackSky Technology Inc. held its annual meeting of stockholders where key decisions were made. The election of Class I directors, the ratification of Deloitte & Touche LLP as the independent accounting firm, and the approval of executive compensation were among the main agenda items. The board also decided to hold annual advisory votes on executive compensation, reflecting the stockholders’ preference.

The most recent analyst rating on (BKSY) stock is a Hold with a $17.00 price target. To see the full list of analyst forecasts on BlackSky Technology stock, see the BKSY Stock Forecast page.