BlackSky Technology (BKSY) AI Stock Analysis

• Market Cap: $819.48M
• Dividend Yield: N/A
• Average Volume (3M): 1.97M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.28
• Revenue Growth: 7.05%
• EPS Growth: 13.73%
• Country: US
• Employees: 340
• Sector: Technology
• Sector Strength: 93
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.42
• Shares Outstanding: 31,652,390
• 10 Day Avg. Volume: 1,618,755
• 30 Day Avg. Volume: 1,972,576
• PEG Ratio: -0.70
• Price to Book (P/B): 5.54
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -324.60
• Enterprise Value/Market Cap: 0.99
• Enterprise Value/Revenue: 1.92
• Enterprise Value/Gross Profit: 10.89
• Enterprise Value/Ebitda: 18.48
• 1Y Price Target: $23.00
• Price Target Upside: -18.70% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 54 Neutral
• Price Target: $29.00 ▲(2.51%Upside)

BlackSky Technology's overall stock score reflects strong revenue growth and positive technical momentum. However, significant risks include ongoing financial losses, overbought market conditions, and a recent downward revision of financial guidance due to budget uncertainties. While the earnings call provided a positive outlook, the negative valuation and corporate event impact weigh heavily on the score.

Positive Factors

Backlog and Contract Wins

BlackSky has had numerous win announcements, including another extension of the EOCL contract, Luno B contract, a $100M+ contract with an international defense customer, and approximately $20M in contracts to support India’s Earth Observation industry.

Improved Technology

Improved capabilities of the Gen-3 satellites, including higher resolution imaging, are driving new customer demand and should serve as a meaningful revenue catalyst.

Revenue Growth

The deployment of Gen-3 satellites and increasing geopolitical tensions are expected to drive significant revenue growth.

Negative Factors

AEBITDA Guidance

AEBITDA guidance missed consensus due to expenses from the LeoStella acquisition.

Profit Margins

Despite higher revenue, gross margin was 57.4% compared to the 69.0% estimate and represented a decrease from 1Q24 levels.

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 through the sale of satellite imagery and geospatial analytics services. The company employs a subscription-based model for its analytics platform, allowing clients to access real-time data and insights. Additionally, BlackSky engages in contracts with government agencies and commercial enterprises, providing tailored geospatial intelligence solutions. Key partnerships and collaborations with other technology and aerospace companies further enhance its service offerings, contributing to its revenue streams. The combination of subscription fees, contract-based services, and strategic partnerships forms the foundation of BlackSky's financial model.

BlackSky Technology Financial Statement Overview

Summary

BlackSky Technology shows strong revenue growth and improved cash flow operations, indicating potential for future profitability. However, persistent net losses and negative free cash flow pose significant challenges. The balance sheet is stable, but operational losses need reduction to enhance financial health.

Income Statement

The income statement reflects a strong revenue growth trajectory, with a 64% increase from 2022 to TTM 2025. Despite growing revenues, gross profit margin stands at 69.2% for TTM 2025, indicating efficient cost management. However, the company remains unprofitable with a net profit margin of -50.5% in TTM 2025, and consistent EBIT losses suggest operational challenges.

Balance Sheet

The balance sheet is characterized by a solid equity base, with an equity ratio of 31.2% in TTM 2025. The debt-to-equity ratio improved to 0.13, reflecting reduced leverage. However, consistent net losses have eroded stockholders' equity over time, and the return on equity remains negative.

Cash Flow

Cash flow analysis shows improvement, with operating cash flow turning positive in TTM 2025. The operating cash flow to net income ratio is strong at -0.44, but free cash flow remains negative, indicating ongoing capital expenditure and investment needs. The free cash flow to net income ratio remains unfavorable, highlighting a need for better cash management.

Breakdown	Dec 2024	Dec 2023	Dec 2023	Dec 2023	Dec 2023
Income Statement
Total Revenue	102.09M	94.49M	94.49M	94.49M	94.49M
Gross Profit	0.00	60.71M	60.71M	60.71M	60.71M
EBITDA	-542.00K	434.00K	434.00K	434.00K	434.00K
Net Income	-57.22M	-53.86M	-53.86M	-53.86M	-53.86M
Balance Sheet
Total Assets	254.15M	224.07M	224.07M	224.07M	224.07M
Cash, Cash Equivalents and Short-Term Investments	52.46M	52.51M	52.51M	52.51M	52.51M
Total Debt	9.97M	87.16M	87.16M	87.16M	87.16M
Total Liabilities	160.16M	130.91M	130.91M	130.91M	130.91M
Stockholders Equity	93.99M	93.16M	93.16M	93.16M	93.16M
Cash Flow
Free Cash Flow	-22.06M	-61.14M	-61.14M	-61.14M	-61.14M
Operating Cash Flow	-6.38M	-17.42M	-17.42M	-17.42M	-17.42M
Investing Cash Flow	-68.33M	-15.21M	-15.21M	-15.21M	-15.21M
Financing Cash Flow	55.66M	29.05M	29.05M	29.05M	29.05M

BlackSky Technology Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 28.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• 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 28.29 is above the 20-day moving average (MA) of 20.88, above the 50-day MA of 15.24, and above the 200-day MA of 11.29, indicating a bullish trend. The MACD of 3.40 indicates Negative momentum. The RSI at 85.06 is Negative, neither overbought nor oversold. The STOCH value of 93.69 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
Sector *	63 Neutral	$34.26B	5.42	-11.67%	1.85%	5.30%	-18.55%
MVIS	55 Neutral	$331.52M	―	-135.21%	―	-41.76%	5.56%
BKSY	54 Neutral	$819.48M	―	-63.35%	―	7.05%	13.73%
KOPN	51 Neutral	$273.50M	―	-112.75%	―	28.16%	74.88%
NEON	51 Neutral	$459.52M	―	-40.61%	―	-18.53%	46.30%
KULR	49 Neutral	$237.38M	―	-67.89%	―	16.47%	27.22%
SATL	44 Neutral	$372.71M	―	-118.08%	―	―	―

BlackSky Technology Corporate Events

BlackSky Technology Revises 2025 Financial Guidance

BlackSky Technology has revised its financial guidance for the full year ending December 31, 2025, due to anticipated impacts of U.S. Government budget uncertainties and volatility in contract timing. The company now expects full-year revenue to be between $105 million and $130 million and Adjusted EBITDA to be between breakeven and $10 million. Despite these adjustments, BlackSky maintains its long-term targets, including a year-over-year revenue growth of 20% to 30% and gross margins in excess of 75%.

The most recent analyst rating on (BKSY) stock is a Buy with a $32.00 price target. To see the full list of analyst forecasts on BlackSky Technology stock, see the BKSY Stock Forecast page.