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Dallas, Texas–(Newsfile Corp. – March 7, 2025) – BlackSky Technology, Inc. (NYSE: BKSY): Stonegate Capital Partners updates their coverage on BlackSky Technology, Inc. (NYSE: BKSY). BKSY reported revenue, adj EBITDA, and EPS of $30.4M, $7.4M, and ($1.01), respectively. This compares to our/consensus estimates of $38.7M/$34.2M, $7.7M/$7.0M, and ($0.43)/($0.27).This marks the fifth quarter in a row of positive adjusted EBITDA. The Imagery and Software Analytics segment reported revenue of $17.5M, down $1.6M from the prior year period. This decrease was due to an upfront delivery of ~$2.0M in images for a previous project. The Professional and Engineering segment reported revenue of $12.9 in 4Q24, representing a sequential increase due to ~$7.0M in deliverables under the Indonesian contract. Consolidated gross margins improved to 77.4%, an increase from 66.2% in 3Q24. Adjusted EBITDA improved significantly to $11.6M from the $(1.0M) posted last year.
Key Takeaways:
The first Gen-3 satellite was successfully launched and began delivering imagery that exceeded customer expectations for initial image quality. Awarded several nine-figure multi-year contracts, with one spanning 7 years. BKSY set its FY25 revenue guidance in a range of $125.0M to $142.0M, driven by sizeable multi-year sales opportunities.
About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking services for public and private companies.
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