NYSE$BKSY
Blacksky Technology Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Blacksky reported strong revenue growth and operating leverage, remaining on track for profitability.
BlackSky reported a 28% increase in revenue compared to the prior year period, driven by a 51% growth in imagery and software analytical services revenue. The company won over $35 million in new contracts and renewal agreements since the start of Q2, bringing year-to-date bookings to over $200 million. BlackSky is widening its 2023 revenue outlook to between $84 million and $96 million and remains on track to achieve positive adjusted EBITDA in Q4 of this year.
- Revenue increased by 28% compared to the prior year period.
- Imagery and software analytical services revenue grew by 51% over the prior year quarter.
- Won over $35 million in new contracts and renewal agreements since the start of Q2.
- Remains on track to achieve positive adjusted EBITDA in Q4 of this year.
Headline financials
Revenue & EPS history
Blacksky · Revenue · Quarterly
$19.3M
Revenue by segment
Blacksky · $19.3M total across 2 segments · Q2 2023
- Space-based Intelligence & AI$15.3M+14.6%79.3%
- Mission Solutions$4M+128.3%20.7%
Forward guidance
BlackSky remains on track to achieve positive Adjusted EBITDA in Q4 of this year. The Company continues to close a significant number of new contracts, further building a strong book of business. BlackSky is actively working with several major customers on a number of sizable contracts and given the variability on timing, the Company is widening the range of its 2023 revenue outlook to between $84 million and $96 million. Expectations for full year 2023 capital expenditures remain between $40 million and $45 million.
Tailwinds
- Remains on track to achieve positive Adjusted EBITDA in Q4 of this year.
- Continued revenue growth
- High incremental margins from imagery and analytic services
- Continued responsible cost management.
- Closing a significant number of new contracts
Headwinds
- Variability on timing
- Widening the range of its 2023 revenue outlook to between $84 million and $96 million.
- Net loss for the second quarter of 2023 was $33.4 million
- Operating expenses for the second quarter of 2023 were $30.7 million
- As of June 30, 2023, cash and cash equivalents, restricted cash, and short-term investments totaled $59.5 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-2.8%
Avg return
Earnings day
-2.2%
Avg return
5 days after
+0.3%
Avg return
30 days after
17%
4 / 24 earnings
Positive
+31.5%
Q1 2025
Best reaction
-24.2%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -20.6% | -0.7% | -14.2% | |
| Q4 2025 | -0.2% | +12.5% | +15.4% | |
| Q3 2025 | -11.5% | -14.4% | -2.6% | |
| Q1 2025 | +31.5% | +35.5% | +47.6% | |
| Q4 2024 | -24.2% | -31.1% | -48.4% | |
| Q3 2024 | +6.3% | -6.3% | +42.1% | |
| Q2 2024 | +11.5% | +10.4% | -16.7% | |
| Q1 2024 | -4.7% | -8.7% | -18.1% | |
| Q4 2023 | -13.4% | -7.9% | -17.1% | |
| Q3 2023 | -1.7% | -3.3% | +11.7% | |
| Q2 2023 | -10.9% | -14.7% | -31.0% | |
| Q1 2023 | +6.0% | +10.3% | +47.0% | |
| Q4 2022 | -11.9% | -24.4% | -28.5% | |
| Q3 2022 | -5.0% | -4.4% | +16.1% | |
| Q2 2022 | -0.8% | -1.2% | -17.3% | |
| Q1 2022 | -1.7% | +4.2% | +76.5% | |
| Q4 2021 | -6.6% | -2.3% | -30.2% | |
| Q3 2021 | -7.9% | -5.9% | -21.8% | |
| Q2 2021 | -0.1% | +0.4% | -0.4% | |
| Q1 2021 | +0.0% | +0.0% | +0.4% | |
| Q4 2020 | -0.5% | -1.1% | -3.4% | |
| Q3 2020 | -0.2% | -0.2% | +2.0% | |
| Q1 2020 | -1.3% | -0.5% | +0.7% | |
| Q2 2020 | +0.0% | +0.1% | -1.9% | |
| Q3 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro