Overview

* BlackSky ( BKSY/WS ) Q2 total revenue falls to $22.2 mln, missing analysts' expectations, per LSEG data

* Net loss for Q2 widens due to derivative loss

* Co raises $185 mln in upsized convertible note offering

Outlook

* BlackSky ( BKSY/WS ) expects 2025 revenue between $105 mln and $130 mln

* Company anticipates break-even to $10 mln adjusted EBITDA for 2025

* BlackSky ( BKSY/WS ) maintains 2025 capital expenditures guidance of $60 mln to $70 mln

Result Drivers

* GEN-3 SATELLITE LAUNCH - Successful launch and commissioning of second Gen-3 satellite providing high-resolution imagery and AI-driven analytics, per CEO Brian E. O'Toole

* EARLY ACCESS AGREEMENTS - Multiple agreements signed for Gen-3 imagery and analytic services with international customers

* REVENUE DECLINE - Professional and engineering services revenue fell due to variability in milestone-based contracts

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $22.2 $23.10

Revenue mln mln (11

Analysts

)

Q2 Net -$41.20

Income mln

Q2 -$2.80

Adjusted mln

EBITDA

Q2 Capex $10 mln

Q2 $29.90

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the communications & networking peer group is "buy"

* Wall Street's median 12-month price target for Blacksky Technology Inc ( BKSY/WS ) is $25.00, about 26.8% above its August 6 closing price of $18.30

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)