NYSE$BKSY
Blacksky Technology Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Blacksky's Q3 2023 earnings showcased a 26% year-over-year revenue increase, alongside significant net income improvement and near break-even adjusted EBITDA.
BlackSky reported a strong Q3 2023 with a 26% increase in revenue compared to the prior year, reaching $21.3 million. The company also achieved near break-even adjusted EBITDA and improved net income to $0.7 million, driven by increased customer demand and effective cost management. They are narrowing the range of its 2023 revenue outlook to be between $84 million and $90 million.
- Total revenue increased by 26% year-over-year to $21.3 million.
- Imagery and software analytical services revenue grew by 11% over the prior year quarter.
- Net income improved significantly to $0.7 million, compared to a net loss of $13.1 million in the prior year quarter.
- Adjusted EBITDA loss was $0.4 million, a $6.2 million improvement year-over-year, and the company is on track to achieve positive Adjusted EBITDA in Q4 2023.
Headline financials
Revenue & EPS history
Blacksky · Revenue · Quarterly
$21.3M
Revenue by segment
Blacksky · $21.3M total across 2 segments · Q3 2023
- Space-based Intelligence & AI$15.3M+2.1%71.8%
- Mission Solutions$6M+208.6%28.2%
Forward guidance
BlackSky anticipates achieving positive Adjusted EBITDA in Q4 2023 and narrows its 2023 revenue outlook to between $84 million and $90 million.
Tailwinds
- Strong operating leverage in Q3 resulting in nearly breakeven Adjusted EBITDA.
- On track to achieve positive Adjusted EBITDA in Q4 of 2023.
- Strong global demand for high-frequency imagery and AI-driven analytics.
- Strong book of business won this year.
- Capital expenditures for the full year 2023 are expected to be between $48 million and $54 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 Q3 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 | — | — | — |
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