Overview

* BlackSky Q3 2025 revenue misses analyst expectations due to reduced EOCL contract

* Company wins over $60 mln in new contracts driven by strong international demand

* Net loss for Q3 2025 increases to $15.3 mln compared to last year

Outlook

* BlackSky ( BKSY/WS ) maintains full-year 2025 guidance for revenue, adjusted EBITDA, and capital expenditures

* Company anticipates strong Q4 driven by international demand for space-based intelligence solutions

* BlackSky ( BKSY/WS ) not providing detailed reconciliation of projected adjusted EBITDA due to uncertainties

Result Drivers

* INTERNATIONAL DEMAND - Strong international demand for space-based intelligence solutions drove over $60 mln in new contract awards, per CEO Brian E. O'Toole

* GEN-3 SATELLITES - Sovereign nations are increasing budgets and acquisition cycles for Gen-3 satellites, contributing to growth

* EOCL CONTRACT REDUCTION - Revenue miss attributed to expected reduction in EOCL contract with NRO and U.S. government budget uncertainties

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $19.60 $28.60

Revenue mln mln (8

Analysts

)

Q3 Net -$15.30

Income mln

Q3 -$4.50

Adjusted mln

EBITDA

Q3 Capex $15 mln

Q3 $29.60

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the aerospace & defense peer group is "buy"

* Wall Street's median 12-month price target for Blacksky Technology Inc ( BKSY/WS ) is $26.00, about 27.8% above its November 5 closing price of $18.78

Press Release:

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(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.)