Go Pro
→ Your book attached (From Profits Run) (Ad)tc pixel Free BKSY Stock Alerts

BlackSky Technology (BKSY) Financials

BlackSky Technology logo
$24.82 +0.47 (+1.91%)
Closing price 06/26/2026 03:59 PM Eastern
Extended Trading
$25.08 +0.26 (+1.05%)
As of 06/26/2026 07:56 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
Compare
Annual Income Statements for BlackSky Technology

Annual Income Statements for BlackSky Technology

This table shows BlackSky Technology's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -7.21 -20 -246 -74 -54 -57 -70
Consolidated Net Income / (Loss)		 -7.21 -20 -246 -74 -54 -57 -70
Net Income / (Loss) Continuing Operations		 -7.21 -48 -244 -75 -54 -57 -70
Total Pre-Tax Income 		-7.12 -48 -244 -75 -53 -57 -70
Total Revenue		 0.00 15 54 73 95 90 83
Net Interest Income / (Expense)		 0.00 -5.20 -5.17 -4.31 -7.24 -11 -11
Total Interest Income		 0.00 0.00 0.00 1.12 2.06 1.56 3.80
Investment Securities Interest Income		 - - 0.00 1.12 2.06 1.56 3.80
Total Interest Expense		 0.00 5.20 5.17 5.43 9.31 12 15
Long-Term Debt Interest Expense		 - 5.20 5.17 5.43 9.31 12 15
Total Non-Interest Income		 0.00 21 59 77 102 100 94
Net Realized & Unrealized Capital Gains on Investments		 - -0.56 25 12 7.68 -1.94 -12
Other Non-Interest Income		 - 21 34 65 94 102 107
Total Non-Interest Expense		 0.27 62 298 152 150 146 153
Marketing Expense		 - 0.26 0.11 0.74 0.64 1.34 0.43
Other Operating Expenses		 - 29 87 80 73 74 87
Depreciation Expense		 - 34 49 71 77 71 66
Nonoperating Income / (Expense), net		 -6.85 -0.85 - 4.17 2.36 0.00 0.06
Income Tax Expense		 0.09 0.00 0.00 0.00 0.67 0.37 0.13
Basic Earnings per Share		 ($0.98) ($0.60) ($3.39) ($0.63) ($3.18) ($2.67) ($2.09)
Weighted Average Basic Shares Outstanding		 7.81M 11.89M 120.49M 138.73M 146.26M 31.64M 36.99M
Diluted Earnings per Share		 ($0.98) ($0.60) ($3.39) ($0.63) ($3.18) ($2.67) ($2.09)
Weighted Average Diluted Shares Outstanding		 7.81M 11.89M 120.49M 138.73M 146.26M 31.64M 36.99M
Weighted Average Basic & Diluted Shares Outstanding		 35.94M 11.89M 120.49M 138.73M 146.26M 31.64M 36.99M

Quarterly Income Statements for BlackSky Technology

This table shows BlackSky Technology's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.68 -3.79 -16 -9.40 -13 -19 -13 -41 -15 -0.87 -30
Consolidated Net Income / (Loss)		 0.68 -3.79 -16 -9.40 -13 -19 -13 -41 -15 -0.87 -30
Net Income / (Loss) Continuing Operations		 0.68 -3.79 -16 -9.40 -13 -19 -13 -41 -15 -0.87 -30
Total Pre-Tax Income 		0.81 -3.38 -16 -9.15 -13 -19 -13 -41 -15 -0.85 -30
Total Revenue		 36 33 -2.49 28 23 17 29 -5.07 21 39 9.65
Net Interest Income / (Expense)		 -2.01 -2.22 -2.23 -2.70 -2.89 -2.81 -2.77 -2.83 -2.71 -2.83 -2.91
Total Interest Income		 0.52 0.46 0.40 0.33 0.26 0.57 0.57 0.68 1.32 1.23 1.02
Investment Securities Interest Income		 0.52 0.46 0.40 0.33 0.26 0.57 0.57 0.68 1.32 1.23 1.02
Total Interest Expense		 2.53 2.68 2.63 3.03 3.14 3.38 3.34 3.51 4.04 4.06 3.93
Long-Term Debt Interest Expense		 2.53 2.68 2.63 3.03 3.14 3.38 3.34 3.51 4.04 4.06 3.93
Total Non-Interest Income		 38 35 -0.25 30 26 20 31 -2.24 24 41 13
Net Realized & Unrealized Capital Gains on Investments		 17 -0.30 -0.25 5.27 3.57 -11 1.90 -24 4.25 6.14 -8.22
Other Non-Interest Income		 21 36 - 25 23 30 30 22 20 35 21
Total Non-Interest Expense		 36 39 13 37 36 36 42 36 36 39 39
Marketing Expense		 0.13 0.12 0.46 0.29 0.04 0.56 0.25 0.02 0.03 0.14 0.17
Other Operating Expenses		 18 17 19 18 18 19 21 23 22 22 23
Depreciation Expense		 18 23 18 18 18 17 20 13 15 18 17
Other Special Charges		 - - -24 - 0.02 - - - 0.01 - 0.00
Income Tax Expense		 0.14 0.41 0.07 0.25 0.03 0.02 0.03 0.04 0.04 0.02 0.00
Basic Earnings per Share		 $0.04 ($0.03) ($0.88) ($0.52) ($0.66) ($0.61) ($0.42) ($1.27) ($0.44) ($0.02) ($0.82)
Weighted Average Basic Shares Outstanding		 142.99M 146.26M 146.83M 148.91M 30.78M 31.64M 31.65M 35.46M 35.99M 36.99M 37.11M
Diluted Earnings per Share		 $0.04 ($0.03) ($0.88) ($0.52) ($0.66) ($0.61) ($0.42) ($1.27) ($0.44) ($0.02) ($0.82)
Weighted Average Diluted Shares Outstanding		 142.99M 146.26M 146.83M 148.91M 30.78M 31.64M 31.65M 35.46M 35.99M 36.99M 37.11M
Weighted Average Basic & Diluted Shares Outstanding		 142.99M 146.26M 146.83M 148.91M 30.78M 31.64M 31.65M 35.46M 35.99M 36.99M 37.11M

Annual Cash Flow Statements for BlackSky Technology

This table details how cash moves in and out of BlackSky Technology's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 1.04 -38 158 -131 -3.58 -19 29
Net Cash From Operating Activities		 -0.29 -32 -54 -44 -17 -6.38 -28
Net Cash From Continuing Operating Activities		 -0.29 -15 -57 -44 -17 -6.38 -28
Net Income / (Loss) Continuing Operations		 -7.21 -48 -244 -75 -54 -57 -70
Consolidated Net Income / (Loss)		 -7.21 -20 -246 -74 -54 -57 -70
Depreciation Expense		 - 9.80 14 36 43 44 30
Amortization Expense		 - 1.14 1.81 3.45 8.85 9.79 4.42
Non-Cash Adjustments to Reconcile Net Income		 6.85 3.21 180 5.58 3.28 13 3.52
Changes in Operating Assets and Liabilities, net		 0.07 18 -5.76 -14 -19 -15 3.67
Net Cash From Investing Activities		 -316 -9.77 -64 -82 -15 -68 -87
Net Cash From Continuing Investing Activities		 -316 -18 -64 -81 -15 -68 -87
Purchase of Property, Leasehold Improvements and Equipment		 - -0.28 -1.27 -12 -15 -16 -16
Purchase of Investment Securities		 -316 -18 -63 -83 -40 -53 -128
Divestitures		 - - - - 0.00 0.54 0.00
Sale and/or Maturity of Investments		 - 0.00 0.30 14 69 34 88
Other Investing Activities, net		 0.00 - 0.00 - -28 -35 -30
Net Cash From Financing Activities		 318 3.44 275 -5.05 29 56 144
Net Cash From Continuing Financing Activities		 318 3.44 275 -5.05 29 56 144
Issuance of Debt		 0.12 3.60 59 - 0.00 20 185
Issuance of Common Equity		 8.33 - - 0.00 33 47 41
Repayment of Debt		 -0.22 -0.15 -28 0.00 -1.31 -11 -92
Other Financing Activities, Net		 309 -0.01 245 -5.05 -2.37 -0.72 10
Cash Interest Paid		 - 2.28 1.00 0.23 1.21 2.52 35
Cash Income Taxes Paid		 0.00 - - 0.00 0.46 0.48 0.20

Quarterly Cash Flow Statements for BlackSky Technology

This table details how cash moves in and out of BlackSky Technology's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -8.96 -0.54 -18 11 31 -43 7.52 1.81 6.21 14 -2.14
Net Cash From Operating Activities		 -0.17 -1.62 -3.81 -1.79 1.04 -1.82 27 -7.28 -39 -9.32 -2.36
Net Cash From Continuing Operating Activities		 -0.17 -1.62 -3.81 -1.79 1.04 -1.82 27 -7.28 -39 -9.32 -2.36
Net Income / (Loss) Continuing Operations		 0.68 -3.79 -16 -9.40 -13 -19 -13 -41 -15 -0.87 -30
Consolidated Net Income / (Loss)		 0.68 -3.79 -16 -9.40 -13 -19 -13 -41 -15 -0.87 -30
Depreciation Expense		 11 11 11 11 11 9.95 7.24 7.21 7.86 8.04 9.25
Amortization Expense		 0.20 7.85 2.31 2.44 2.50 2.53 2.58 1.75 -0.28 0.38 0.39
Non-Cash Adjustments to Reconcile Net Income		 -15 4.34 3.35 -3.09 -1.12 13 0.64 27 -31 6.34 12
Changes in Operating Assets and Liabilities, net		 2.63 -21 -4.95 -3.03 1.13 -8.33 30 -2.38 -0.42 -23 5.95
Net Cash From Investing Activities		 -8.28 -0.28 -15 -7.94 -4.41 -41 -24 -26 -61 24 -9.33
Net Cash From Continuing Investing Activities		 -8.28 -0.28 -15 -7.94 -4.41 -41 -24 -26 -61 24 -9.33
Purchase of Property, Leasehold Improvements and Equipment		 -3.85 -2.98 -3.30 -3.28 -5.71 -3.39 -4.47 -3.63 -3.86 -4.25 -3.87
Purchase of Investment Securities		 -9.75 -11 -9.46 -4.02 - -39 -28 -29 -64 -7.28 -29
Sale and/or Maturity of Investments		 9.00 18 9.00 9.00 8.73 7.50 13 13 18 44 35
Other Investing Activities, net		 -3.68 -4.84 -11 -9.64 -7.43 -6.15 -4.42 -6.35 -11 -8.41 -12
Net Cash From Financing Activities		 -0.51 1.36 0.86 21 34 -0.24 4.42 35 106 -0.87 9.55
Net Cash From Continuing Financing Activities		 -0.51 1.36 0.86 21 34 -0.24 4.42 35 106 -0.87 9.55
Issuance of Common Equity		 0.79 1.87 1.30 1.65 44 -0.33 5.12 36 -0.03 -0.00 14
Repayment of Debt		 -0.75 - 0.00 - -10 - -0.18 -0.56 -90 -1.13 -1.69
Other Financing Activities, Net		 -0.55 -0.50 -0.44 -0.01 -0.36 0.09 -0.52 -0.41 11 0.26 -3.03
Cash Interest Paid		 - 0.99 0.00 1.03 0.18 1.32 0.20 1.47 32 0.61 8.06
Cash Income Taxes Paid		 0.06 0.28 0.00 0.38 - 0.10 0.00 0.02 0.12 0.06 0.00

Annual Balance Sheets for BlackSky Technology

This table presents BlackSky Technology's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 0.21 318 120 306 234 224 254 386
Cash and Due from Banks		 0.04 1.08 5.10 166 34 33 13 42
Restricted Cash		 - - 5.48 2.52 2.84 0.62 1.32 1.10
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 - - 21 71 72 67 46 79
Goodwill		 - - 9.39 9.39 9.39 9.39 10 10
Intangible Assets		 - - 3.83 2.48 1.92 1.36 5.45 4.42
Other Assets		 - 0.20 72 51 109 113 178 249
Total Liabilities & Shareholders' Equity		 0.21 318 120 306 234 224 254 386
Total Liabilities		 0.19 33 153 126 112 131 160 291
Short-Term Debt		 0.10 - 26 5.61 3.73 11 1.93 7.94
Other Short-Term Payables		 - 0.18 30 25 23 17 24 52
Long-Term Debt		 - - 85 71 76 84 106 193
Other Long-Term Liabilities		 - 33 12 24 9.07 20 28 39
Commitments & Contingencies		 0.00 0.00 0.00 0.00 - - 0.00 0.00
Total Equity & Noncontrolling Interests		 0.02 5.00 -33 180 122 93 94 95
Total Preferred & Common Equity		 0.02 5.00 -33 180 122 93 94 95
Total Common Equity		 0.02 5.00 -33 180 122 93 94 95
Common Stock		 0.03 12 191 651 667 692 750 821
Retained Earnings		 -0.00 -7.21 -224 -471 -545 -599 -656 -726

Quarterly Balance Sheets for BlackSky Technology

This table presents BlackSky Technology's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 244 241 228 213 210 224 245 285 311 381 372
Cash and Due from Banks		 37 57 41 32 15 26 56 21 23 29 39
Restricted Cash		 2.84 2.84 1.84 1.84 0.41 1.10 1.15 1.15 1.15 1.10 2.03
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 78 87 82 75 60 52 47 61 77 73 96
Goodwill		 9.39 9.39 9.39 9.39 9.39 9.39 9.39 10 10 10 10
Intangible Assets		 2.06 1.78 1.64 1.50 1.22 1.08 0.94 5.24 5.06 4.86 3.87
Other Assets		 111 77 87 86 124 135 131 187 195 263 221
Total Liabilities & Shareholders' Equity		 244 241 228 213 210 224 245 285 311 381 372
Total Liabilities		 111 122 140 121 128 148 135 196 224 290 291
Short-Term Debt		 1.67 2.38 2.23 0.00 0.16 2.69 0.32 3.75 5.20 5.77 9.26
Other Short-Term Payables		 25 18 15 19 17 17 18 28 32 46 44
Long-Term Debt		 73 76 79 79 85 108 98 112 117 189 193
Other Long-Term Liabilities		 11 25 43 23 26 20 18 52 70 49 44
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 - - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 133 119 89 92 82 77 110 89 87 91 81
Total Preferred & Common Equity		 133 119 89 92 82 77 110 89 87 91 81
Total Common Equity		 133 119 89 92 82 77 110 89 87 91 81
Common Stock		 664 681 684 687 696 701 747 758 797 817 837
Retained Earnings		 -530 -562 -596 -595 -615 -624 -637 -669 -710 -726 -756

Annual Metrics And Ratios for BlackSky Technology

This table displays calculated financial ratios and metrics derived from BlackSky Technology's official financial filings.

Metric 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - 35,992,596.00
DEI Adjusted Shares Outstanding		 - - - - - - 35,992,596.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - -1.95
Growth Metrics		 - - - - - - -
Revenue Growth		 0.00% 0.00% 250.10% 35.33% 30.30% -5.69% -6.98%
EBITDA Growth		 0.00% -13,166.87% -534.23% 82.47% 91.83% -7.94% -905.08%
EBIT Growth		 0.00% -17,206.38% -420.57% 67.60% 29.73% -2.35% -23.47%
NOPAT Growth		 0.00% -17,206.38% -420.57% 67.60% 29.73% -2.35% -23.47%
Net Income Growth		 0.00% -170.96% -1,157.45% 69.81% 27.39% -6.24% -22.79%
EPS Growth		 0.00% 38.78% -465.00% 81.42% 27.39% 16.04% 21.72%
Operating Cash Flow Growth		 0.00% -10,952.64% -70.08% 17.48% 60.81% 63.35% -343.47%
Free Cash Flow Firm Growth		 0.00% 0.00% -300.24% 99.85% -4,689.20% -119.60% -165.97%
Invested Capital Growth		 0.00% -72.80% 230.91% -21.36% -7.09% 7.55% 46.78%
Revenue Q/Q Growth		 0.00% 0.00% 175.78% -26.75% 17.75% -15.13% -3.19%
EBITDA Q/Q Growth		 0.00% 0.00% -88.95% 76.25% 86.44% -122.40% 29.03%
EBIT Q/Q Growth		 0.00% 0.00% -80.39% 60.81% 18.73% -30.20% 20.91%
NOPAT Q/Q Growth		 0.00% 0.00% -80.79% -46.25% 14.04% -39.25% 20.85%
Net Income Q/Q Growth		 0.00% 0.00% 3.09% -37.43% 16.98% -37.59% 20.89%
EPS Q/Q Growth		 0.00% 0.00% -87.29% 66.67% 16.98% -97.78% 15.38%
Operating Cash Flow Q/Q Growth		 0.00% -14.40% -25.25% 18.52% 16.34% -3.13% -36.05%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 96.59% -179.00% 18.25% -3.09%
Invested Capital Q/Q Growth		 0.00% 0.00% 11.19% -2.99% 9.26% -3.52% 3.45%
Profitability Metrics		 - - - - - - -
EBITDA Margin		 0.00% -233.68% -423.32% -54.82% -3.44% -3.93% -42.54%
EBIT Margin		 0.00% -304.83% -453.25% -108.50% -58.51% -63.50% -84.29%
Profit (Net Income) Margin		 0.00% -127.05% -456.31% -101.81% -56.74% -63.91% -84.37%
Tax Burden Percent		 101.31% 40.94% 100.68% 99.06% 101.27% 100.65% 100.18%
Interest Burden Percent		 2,627.68% 101.81% 100.00% 94.73% 95.75% 100.00% 99.91%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -18.09% -102.21% -24.14% -19.97% -20.45% -19.75%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 5.96% -182.10% -48.14% -37.16% -37.70% -33.43%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 2.61% -232.44% -25.06% -30.12% -40.70% -54.66%
Return on Equity (ROE)		 -5.06% -15.49% -334.65% -49.20% -50.09% -61.15% -74.40%
Cash Return on Invested Capital (CROIC)		 0.00% 96.36% -209.38% -0.22% -12.62% -27.72% -57.66%
Operating Return on Assets (OROA)		 0.00% -21.39% -114.64% -29.28% -24.25% -23.78% -21.92%
Return on Assets (ROA)		 0.00% -8.92% -115.41% -27.48% -23.51% -23.93% -21.94%
Return on Common Equity (ROCE)		 -0.09% 1.71% -334.64% -49.20% -50.09% -61.15% -74.40%
Return on Equity Simple (ROE_SIMPLE)		 -144.19% 59.53% -136.76% -60.86% -57.81% -60.88% -74.06%
Net Operating Profit after Tax (NOPAT)		 -0.19 -33 -171 -55 -39 -40 -49
NOPAT Margin		 0.00% -213.38% -317.27% -75.95% -40.96% -44.45% -59.00%
Net Nonoperating Expense Percent (NNEP)		 0.00% -24.05% 79.88% 24.00% 17.19% 17.25% 13.68%
SG&A Expenses to Revenue		 0.00% 1.66% 0.21% 1.01% 0.68% 1.50% 0.52%
Operating Expenses to Revenue		 0.00% 404.83% 553.25% 208.50% 158.51% 163.50% 184.29%
Earnings before Interest and Taxes (EBIT)		 -0.27 -47 -244 -79 -56 -57 -70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.27 -36 -228 -40 -3.26 -3.52 -35
Valuation Ratios		 - - - - - - -
Price to Book Value (P/BV)		 77.09 0.00 2.90 1.53 2.15 3.53 7.11
Price to Tangible Book Value (P/TBV)		 77.09 0.00 3.11 1.69 2.43 4.24 8.42
Price to Revenue (P/Rev)		 0.00 26.92 9.69 2.57 2.11 3.71 8.10
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.33 6.62 1.68 1.14 1.39 2.11 2.81
Enterprise Value to Revenue (EV/Rev)		 0.00 33.41 7.99 3.15 2.75 4.75 10.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.94 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - -
Debt to Equity		 0.00 -3.36 0.43 0.66 1.01 1.15 2.12
Long-Term Debt to Equity		 0.00 -2.59 0.40 0.63 0.90 1.13 2.04
Financial Leverage		 0.00 0.44 1.28 0.52 0.81 1.08 1.63
Leverage Ratio		 1.12 1.74 2.90 1.79 2.13 2.56 3.39
Compound Leverage Factor		 29.35 1.77 2.90 1.70 2.04 2.56 3.39
Debt to Total Capital		 0.00% 142.31% 30.01% 39.61% 50.32% 53.39% 67.95%
Short-Term Debt to Total Capital		 0.00% 32.88% 2.19% 1.85% 5.78% 0.96% 2.68%
Long-Term Debt to Total Capital		 0.00% 109.43% 27.82% 37.77% 44.53% 52.43% 65.27%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 98.25% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 1.75% -42.31% 69.99% 60.39% 49.68% 46.61% 32.05%
Debt to EBITDA		 0.00 -3.07 -0.34 -2.00 -28.91 -30.57 -5.68
Net Debt to EBITDA		 0.00 -2.78 0.40 -1.07 -18.67 -26.49 -4.45
Long-Term Debt to EBITDA		 0.00 -2.36 -0.31 -1.91 -25.59 -30.02 -5.45
Debt to NOPAT		 0.00 -3.36 -0.45 -1.44 -2.43 -2.71 -4.09
Net Debt to NOPAT		 0.00 -3.04 0.53 -0.78 -1.57 -2.34 -3.21
Long-Term Debt to NOPAT		 0.00 -2.59 -0.42 -1.38 -2.15 -2.66 -3.93
Noncontrolling Interest Sharing Ratio		 98.24% 111.03% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - -
Cash Flow Metrics		 - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 175 -350 -0.51 -25 -54 -143
Operating Cash Flow to CapEx		 0.00% -11,271.89% -4,255.29% -380.71% -114.22% -40.72% -174.63%
Free Cash Flow to Firm to Interest Expense		 0.00 33.60 -67.74 -0.09 -2.64 -4.43 -9.60
Operating Cash Flow to Interest Expense		 0.00 -6.09 -10.43 -8.19 -1.87 -0.52 -1.89
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -6.14 -10.68 -10.35 -3.51 -1.81 -2.98
Efficiency Ratios		 - - - - - - -
Asset Turnover		 0.00 0.07 0.25 0.27 0.41 0.37 0.26
Fixed Asset Turnover		 0.00 0.00 1.18 1.03 1.37 1.59 1.34
Capital & Investment Metrics		 - - - - - - -
Invested Capital		 285 78 257 202 188 202 296
Invested Capital Turnover		 0.00 0.08 0.32 0.32 0.49 0.46 0.33
Increase / (Decrease) in Invested Capital		 0.00 -208 179 -55 -14 14 94
Enterprise Value (EV)		 664 514 430 230 261 425 832
Market Capitalization		 385 414 521 187 200 332 675
Book Value per Share		 $0.13 ($0.83) $1.55 $1.00 $0.65 $3.05 $2.64
Tangible Book Value per Share		 $0.13 ($1.16) $1.44 $0.91 $0.58 $2.54 $2.23
Total Capital		 285 78 257 202 188 202 296
Total Debt		 0.00 110 77 80 94 108 201
Total Long-Term Debt		 0.00 85 71 76 84 106 193
Net Debt		 -1.08 100 -91 43 61 93 158
Capital Expenditures (CapEx)		 0.00 0.28 1.27 12 15 16 16
Net Nonoperating Expense (NNE)		 7.02 -13 75 19 15 17 21
Net Nonoperating Obligations (NNO)		 0.00 110 77 80 94 108 201
Total Depreciation and Amortization (D&A)		 0.00 11 16 39 52 53 35
Earnings Adjustments		 - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 ($3.39) ($0.63) ($3.20) ($2.67) ($2.09)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 120.49M 138.73M 18.28M 31.64M 36.99M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 ($3.39) ($0.63) ($3.20) ($2.67) ($2.09)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 120.49M 138.73M 18.28M 31.64M 36.99M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 120.49M 138.73M 18.28M 31.64M 36.99M
Normalized Net Operating Profit after Tax (NOPAT)		 0.00 -33 -57 -55 -39 -40 -49
Normalized NOPAT Margin		 0.00% -214.67% -106.61% -75.95% -40.96% -44.45% -59.00%
Pre Tax Income Margin		 0.00% -310.35% -453.25% -102.78% -56.03% -63.50% -84.21%
Debt Service Ratios		 - - - - - - -
EBIT to Interest Expense		 0.00 -9.01 -47.24 -14.57 -5.97 -4.66 -4.70
NOPAT to Interest Expense		 0.00 -6.31 -33.07 -10.20 -4.18 -3.27 -3.29
EBIT Less CapEx to Interest Expense		 0.00 -9.07 -47.48 -16.72 -7.61 -5.95 -5.78
NOPAT Less CapEx to Interest Expense		 0.00 -6.36 -33.31 -12.35 -5.82 -4.55 -4.37
Payout Ratios		 - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for BlackSky Technology

This table displays calculated financial ratios and metrics derived from BlackSky Technology's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 35,992,596.00 36,994,814.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 35,992,596.00 36,994,814.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.02 -0.80
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 60.77% 76.56% -113.07% 314.65% -35.91% -48.38% 1,252.53% -118.42% -8.98% -6.65% -66.35%
EBITDA Growth		 431.68% 245.68% 67.87% 122.22% -91.14% -156.08% -35.28% -805.09% -827.02% 209.60% -559.57%
EBIT Growth		 103.50% 67.32% 8.49% 71.96% -2,701.04% -212.18% 18.38% -350.50% -21.79% 95.68% -130.88%
NOPAT Growth		 104.15% 77.20% 8.49% 71.96% -2,292.96% -474.81% 18.38% -350.50% -21.79% 95.63% -130.88%
Net Income Growth		 105.16% 74.41% 8.69% 71.89% -1,965.33% -412.67% 18.96% -338.85% -21.83% 95.53% -131.51%
EPS Growth		 105.16% 74.41% 8.69% 75.00% -1,750.00% -1,933.33% 52.27% -144.23% 33.33% 96.72% -95.24%
Operating Cash Flow Growth		 98.51% 67.70% 77.05% -283.42% 698.27% -11.95% 815.09% -306.25% -3,863.96% -412.88% -108.65%
Free Cash Flow Firm Growth		 180.64% -73.11% -39.51% -196.78% -225.46% -331.95% -332.82% -112.55% -90.05% -242.37% -114.57%
Invested Capital Growth		 -17.51% -7.09% -15.71% 10.17% 21.80% 7.55% 22.59% 11.49% 36.89% 46.78% 38.82%
Revenue Q/Q Growth		 446.48% -9.00% -107.54% 26.50% -15.54% -26.71% 68.36% -117.67% 517.34% 82.13% -74.95%
EBITDA Q/Q Growth		 158.21% 2.86% -118.21% 303.83% -76.79% -751.13% 56.08% -961.94% 76.06% 198.17% -364.26%
EBIT Q/Q Growth		 101.48% -1,386.54% -153.32% 41.90% -37.38% -54.41% 33.77% -220.73% 62.87% 94.52% -3,435.52%
NOPAT Q/Q Growth		 101.76% -689.13% -366.40% 41.90% -37.38% -54.42% 33.77% -220.73% 62.87% 94.46% -3,402.13%
Net Income Q/Q Growth		 102.02% -661.19% -317.37% 40.56% -33.99% -54.24% 34.02% -221.85% 62.80% 94.34% -3,317.40%
EPS Q/Q Growth		 102.02% -661.19% -317.37% 45.45% -1,000.00% 7.58% 31.15% -202.38% 65.35% 95.45% -4,000.00%
Operating Cash Flow Q/Q Growth		 -117.71% -838.15% -134.75% 52.97% 157.76% -275.56% 1,599.45% -126.72% -435.12% 76.08% 74.72%
Free Cash Flow Firm Q/Q Growth		 50.37% -67.54% 67.50% -218.37% -94.93% 39.99% -68.13% -8.07% -74.28% -8.11% -5.37%
Invested Capital Q/Q Growth		 0.83% 9.26% -11.16% 12.56% 11.48% -3.52% 1.26% 2.37% 36.88% 3.45% -4.23%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 33.06% 37.37% 0.00% 16.63% 4.57% -40.60% -10.59% 0.00% -36.50% 19.68% -207.60%
EBIT Margin		 1.33% -18.83% 0.00% -33.24% -54.06% -113.90% -44.81% 0.00% -72.34% -2.18% -307.42%
Profit (Net Income) Margin		 1.86% -11.48% 0.00% -34.16% -54.18% -114.02% -44.68% 0.00% -72.53% -2.25% -307.42%
Tax Burden Percent		 83.03% 112.24% 100.44% 102.76% 100.22% 100.10% 100.23% 100.08% 100.25% 102.48% 100.00%
Interest Burden Percent		 168.32% 54.31% 99.99% 100.00% 100.00% 100.01% 99.49% 99.99% 100.00% 100.95% 100.00%
Effective Tax Rate		 16.97% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.47% -3.49% 0.00% -15.42% -20.98% -36.69% -20.42% 0.00% -17.60% -0.52% -56.71%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.83% -5.13% 0.00% -18.53% -25.24% -42.47% -24.23% 0.00% -20.75% -0.69% -62.31%
Return on Net Nonoperating Assets (RNNOA)		 0.56% -4.16% 0.00% -21.62% -22.22% -45.84% -28.45% 0.00% -30.28% -1.13% -116.79%
Return on Equity (ROE)		 1.03% -7.65% 0.00% -37.04% -43.20% -82.53% -48.87% 0.00% -47.88% -1.65% -173.50%
Cash Return on Invested Capital (CROIC)		 -4.64% -12.62% -2.84% -20.42% -34.67% -27.72% -40.64% -41.21% -56.22% -57.66% -57.49%
Operating Return on Assets (OROA)		 0.47% -7.80% 0.00% -17.42% -24.89% -42.65% -21.85% 0.00% -19.87% -0.57% -60.17%
Return on Assets (ROA)		 0.66% -4.76% 0.00% -17.90% -24.95% -42.69% -21.79% 0.00% -19.92% -0.59% -60.17%
Return on Common Equity (ROCE)		 1.03% -7.65% 0.00% -37.04% -43.20% -82.53% -48.87% 0.00% -47.88% -1.65% -173.50%
Return on Equity Simple (ROE_SIMPLE)		 -70.41% 0.00% -64.07% -37.00% -37.71% 0.00% -61.03% -99.43% -97.54% 0.00% -107.80%
Net Operating Profit after Tax (NOPAT)		 0.40 -2.36 -11 -6.40 -8.79 -14 -8.99 -29 -11 -0.59 -21
NOPAT Margin		 1.11% -7.16% 0.00% -23.27% -37.84% -79.73% -31.36% 0.00% -50.64% -1.54% -215.19%
Net Nonoperating Expense Percent (NNEP)		 -0.36% 1.64% 5.86% 3.11% 4.26% 5.78% 3.82% 10.62% 3.15% 0.18% 5.60%
SG&A Expenses to Revenue		 0.37% 0.36% 0.00% 1.04% 0.19% 3.28% 0.85% 0.00% 0.14% 0.37% 1.76%
Operating Expenses to Revenue		 98.67% 118.83% 0.00% 133.24% 154.06% 213.90% 144.81% 0.00% 172.34% 102.18% 407.42%
Earnings before Interest and Taxes (EBIT)		 0.48 -6.21 -16 -9.15 -13 -19 -13 -41 -15 -0.84 -30
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 12 12 -2.25 4.58 1.06 -6.92 -3.04 -32 -7.72 7.58 -20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.79 2.15 4.37 2.05 0.80 3.53 2.75 7.53 7.85 7.11 11.52
Price to Tangible Book Value (P/TBV)		 2.03 2.43 5.02 2.38 0.88 4.24 3.34 9.15 9.41 8.42 13.96
Price to Revenue (P/Rev)		 2.04 2.11 4.86 1.33 0.84 3.71 2.03 7.39 8.31 8.10 14.49
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.23 1.39 2.56 1.29 0.62 2.11 1.66 3.59 3.07 2.81 3.85
Enterprise Value to Revenue (EV/Rev)		 2.61 2.75 5.81 2.04 1.23 4.75 2.80 8.51 10.23 10.00 17.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 287.99 9.06 8.25 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 13.70 39.11 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.86 1.01 1.04 1.45 0.90 1.15 1.30 1.41 2.14 2.12 2.51
Long-Term Debt to Equity		 0.86 0.90 1.04 1.41 0.89 1.13 1.26 1.35 2.08 2.04 2.39
Financial Leverage		 0.68 0.81 0.82 1.17 0.88 1.08 1.17 1.43 1.46 1.63 1.87
Leverage Ratio		 2.03 2.13 2.25 2.74 2.26 2.56 2.90 3.28 3.11 3.39 3.87
Compound Leverage Factor		 3.41 1.16 2.25 2.74 2.26 2.56 2.89 3.28 3.11 3.42 3.87
Debt to Total Capital		 46.31% 50.32% 50.94% 59.18% 47.25% 53.39% 56.49% 58.59% 68.18% 67.95% 71.49%
Short-Term Debt to Total Capital		 0.00% 5.78% 0.10% 1.43% 0.16% 0.96% 1.84% 2.49% 2.02% 2.68% 3.27%
Long-Term Debt to Total Capital		 46.31% 44.53% 50.85% 57.75% 47.09% 52.43% 54.65% 56.10% 66.16% 65.27% 68.23%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 53.69% 49.68% 49.06% 40.82% 52.75% 46.61% 43.51% 41.41% 31.82% 32.05% 28.51%
Debt to EBITDA		 -3.30 -28.91 57.34 4.16 6.28 -30.57 -26.74 -2.98 -3.91 -5.68 -3.87
Net Debt to EBITDA		 -1.89 -18.67 46.95 3.16 2.64 -26.49 -21.66 -2.40 -3.31 -4.45 -3.08
Long-Term Debt to EBITDA		 -3.30 -25.59 57.23 4.06 6.26 -30.02 -25.87 -2.85 -3.79 -5.45 -3.69
Debt to NOPAT		 -1.76 -2.43 -2.34 -5.78 -3.46 -2.71 -3.06 -2.04 -3.14 -4.09 -3.33
Net Debt to NOPAT		 -1.01 -1.57 -1.92 -4.39 -1.45 -2.34 -2.48 -1.64 -2.66 -3.21 -2.65
Long-Term Debt to NOPAT		 -1.76 -2.15 -2.34 -5.64 -3.44 -2.66 -2.96 -1.95 -3.05 -3.93 -3.18
Noncontrolling Interest Sharing Ratio		 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 37 12 20 -24 -46 -28 -47 -50 -88 -95 -100
Operating Cash Flow to CapEx		 -4.49% -54.50% -115.56% -54.65% 18.12% -53.61% 610.19% -200.50% -1,008.46% -219.12% -60.94%
Free Cash Flow to Firm to Interest Expense		 14.55 4.46 7.60 -7.83 -14.71 -8.20 -13.95 -14.36 -21.75 -23.40 -25.44
Operating Cash Flow to Interest Expense		 -0.07 -0.61 -1.45 -0.59 0.33 -0.54 8.15 -2.07 -9.65 -2.30 -0.60
Operating Cash Flow Less CapEx to Interest Expense		 -1.59 -1.72 -2.70 -1.67 -1.49 -1.54 6.81 -3.11 -10.61 -3.35 -1.58
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.35 0.41 0.33 0.52 0.46 0.37 0.49 0.33 0.27 0.26 0.20
Fixed Asset Turnover		 1.06 1.37 1.00 1.77 1.74 1.59 2.00 1.36 1.44 1.34 0.82
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 172 188 167 187 209 202 204 209 286 296 283
Invested Capital Turnover		 0.42 0.49 0.40 0.66 0.55 0.46 0.65 0.44 0.35 0.33 0.26
Increase / (Decrease) in Invested Capital		 -36 -14 -31 17 37 14 38 22 77 94 79
Enterprise Value (EV)		 210 261 426 241 130 425 338 750 880 832 1,092
Market Capitalization		 165 200 357 157 88 332 245 651 715 675 931
Book Value per Share		 $0.65 $0.65 $0.31 $0.52 $0.74 $3.05 $2.81 $2.73 $2.57 $2.64 $2.18
Tangible Book Value per Share		 $0.58 $0.58 $0.27 $0.45 $0.67 $2.54 $2.32 $2.25 $2.14 $2.23 $1.80
Total Capital		 172 188 167 187 209 202 204 209 286 296 283
Total Debt		 79 94 85 111 99 108 115 122 195 201 203
Total Long-Term Debt		 79 84 85 108 98 106 112 117 189 193 193
Net Debt		 46 61 69 84 41 93 93 99 165 158 161
Capital Expenditures (CapEx)		 3.85 2.98 3.30 3.28 5.71 3.39 4.47 3.63 3.86 4.25 3.87
Net Nonoperating Expense (NNE)		 -0.27 1.43 4.79 3.00 3.80 5.84 3.82 12 4.63 0.28 8.90
Net Nonoperating Obligations (NNO)		 79 94 85 111 99 108 115 122 195 201 203
Total Depreciation and Amortization (D&A)		 12 19 13 14 14 12 9.81 8.96 7.58 8.42 9.63
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($0.24) ($0.88) ($0.06) ($0.66) ($0.61) ($0.42) ($1.27) ($0.44) ($0.02) ($0.82)
Adjusted Weighted Average Basic Shares Outstanding		 17.87M 18.28M 18.35M 148.91M 30.78M 31.64M 31.65M 35.46M 35.99M 36.99M 37.11M
Adjusted Diluted Earnings per Share		 $0.00 ($0.24) ($0.88) ($0.06) ($0.66) ($0.61) ($0.42) ($1.27) ($0.44) ($0.02) ($0.82)
Adjusted Weighted Average Diluted Shares Outstanding		 17.87M 18.28M 18.35M 148.91M 30.78M 31.64M 31.65M 35.46M 35.99M 36.99M 37.11M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($0.24) $0.00 $0.00 $0.00 ($0.61) $0.00 $0.00 $0.00 ($0.02) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 17.87M 18.28M 18.35M 148.91M 30.78M 31.64M 31.65M 35.46M 35.99M 36.99M 37.11M
Normalized Net Operating Profit after Tax (NOPAT)		 0.40 -2.36 -28 -6.40 -8.78 -14 -8.99 -29 -11 -0.59 -21
Normalized NOPAT Margin		 1.11% -7.16% 0.00% -23.27% -37.78% -79.73% -31.36% 0.00% -50.61% -1.54% -215.19%
Pre Tax Income Margin		 2.24% -10.23% 0.00% -33.24% -54.06% -113.90% -44.58% 0.00% -72.34% -2.20% -307.42%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.19 -2.32 -5.98 -3.02 -4.00 -5.74 -3.84 -11.74 -3.79 -0.21 -7.54
NOPAT to Interest Expense		 0.16 -0.88 -4.18 -2.11 -2.80 -4.02 -2.69 -8.22 -2.65 -0.15 -5.28
EBIT Less CapEx to Interest Expense		 -1.33 -3.43 -7.23 -4.10 -5.82 -6.74 -5.18 -12.78 -4.75 -1.26 -8.53
NOPAT Less CapEx to Interest Expense		 -1.36 -1.99 -5.44 -3.20 -4.62 -5.02 -4.03 -9.26 -3.61 -1.19 -6.26
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

BlackSky Technology’s latest quarter shows a mixed but still fragile picture. Revenue improved sharply year over year in Q1 2026, but the company remained unprofitable and continued to burn cash from operations. The balance sheet also reflects a meaningful increase in debt and leverage over the past year, even as cash and equity improved from recent quarter-end levels.

  • Revenue rebounded materially in Q1 2026. Total revenue rose to $9.6 million from $-5.1 million in Q2 2025 and $21.2 million in Q3 2025, but the cleaner comparison is year over year: Q1 2026 revenue was down from $28.7 million in Q1 2025. The quarter still suggests a recovery from the weak middle of 2025.
  • Cash balance increased from year-end 2025. Cash and equivalents rose to $39.4 million in Q1 2026 from $28.8 million in Q3 2025 and $20.7 million in Q1 2025, giving the company more near-term flexibility.
  • Financing activity supported liquidity. BlackSky raised $14.3 million from common equity issuance in Q1 2026, helping offset operating losses and investing outflows.
  • Quarterly net cash change was less damaging than operating performance suggests. Despite negative operating cash flow, the company ended Q1 2026 with only a modest net cash decline of $2.1 million, aided by financing inflows and investment activity.
  • Basic and diluted EPS improved versus the worst recent quarters. Q1 2026 EPS was -$0.82, better than Q2 2025’s -$1.27, though still worse than Q4 2025’s -$0.02.
  • Non-operating income remains a major swing factor. Results have been heavily influenced by realized/unrealized gains and other non-interest income, which can make earnings less predictable from quarter to quarter.
  • Depreciation remains a large non-cash add-back. Q1 2026 depreciation was $9.2 million, reflecting a capital-intensive business model and high fixed-asset base.
  • Capital spending continues. The company spent $3.9 million on property and equipment in Q1 2026, indicating continued investment in infrastructure and systems.
  • Working capital changes were unfavorable. Operating asset and liability changes used $6.0 million in Q1 2026, which reduced operating cash flow.
  • Operating cash flow stayed negative. BlackSky used $2.4 million in operating cash in Q1 2026, following similarly negative operating cash flow in several recent quarters, signaling the business is still not self-funding.
  • Net loss widened sharply from Q4 2025. The company lost $29.7 million in Q1 2026, compared with a $0.9 million loss in Q4 2025, showing earnings remain volatile and far from consistent profitability.
  • Interest burden is high relative to earnings. Q1 2026 interest expense was $3.9 million versus just $1.0 million of interest income, leaving the company with a meaningful financing drag.
  • Debt increased materially over the past year. Long-term debt rose to $193.4 million in Q1 2026 from $111.6 million in Q1 2025, while short-term debt also increased, lifting leverage.
  • Retained earnings remain deeply negative. At -$756.1 million in Q1 2026, accumulated losses continue to weigh on equity quality and highlight the company’s long history of unprofitability.

Bottom line: BlackSky shows some signs of improving revenue momentum and a stronger cash position, but the core story is still one of heavy losses, negative operating cash flow, and rising debt. For retail investors, the main question is whether revenue growth can accelerate enough to absorb the company’s fixed cost structure before the balance sheet becomes a bigger constraint.

06/28/26 10:58 AM ETAI Generated. May Contain Errors.

BlackSky Technology Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BlackSky Technology's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

BlackSky Technology's net income appears to be on an upward trend, with a most recent value of -$70.26 million in 2025, rising from -$7.21 million in 2019. The previous period was -$57.22 million in 2024. See BlackSky Technology's forecast for analyst expectations on what's next for the company.

Over the last 6 years, BlackSky Technology's total revenue changed from $0.00 in 2019 to $83.28 million in 2025, a change of 8,328,100,000.0%.

BlackSky Technology's total liabilities were at $291.37 million at the end of 2025, a 81.9% increase from 2024, and a 152,040.0% increase since 2018.

In the past 7 years, BlackSky Technology's cash and equivalents has ranged from $42.06 thousand in 2018 to $165.59 million in 2021, and is currently $42.45 million as of their latest financial filing in 2025.

Over the last 6 years, BlackSky Technology's book value per share changed from 0.13 in 2019 to 2.64 in 2025, a change of 1,983.8%.


Related Companies

Financial statements for NYSE:BKSY last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
From Our Partners
SPCX Warning - and Worst News for Stocks in 50 Years
Goldman Sachs and Morgan Stanley are now predicting what could be the worst news for the U.S. stock market in ...
TradeSmith | Sponsoredtc pixel
Rickards Predicts: Trump to buy tiny $2 stock?
Jim Rickards believes the Trump administration is about to take a direct stake in a $2 stock sitting on the la...
Paradigm Press | Sponsoredtc pixel
The $15 Gold Fund That Pays Up to $1,152/Month
Gold is hitting record highs, but most investors are leaving income on the table. A $15 fund is quietly paying...
Investors Alley | Sponsoredtc pixel
Do NOT Buy SpaceX – Do This Instead
SpaceX just went public - and Whitney Tilson, Harvard MBA and 30-year Wall Street veteran, says buying in coul...
Stansberry Research | Sponsoredtc pixel
Trump's gold order: the announcement they won't put on the front page
On August 15, 1971, Nixon interrupted prime-time television and ended the gold standard in 15 minutes - no deb...
Reagan Gold Group | Sponsoredtc pixel
Elon Musk, Larry Fink & Brian Armstrong are ALL Piling into This
Elon Musk, BlackRock CEO Larry Fink, and Coinbase CEO Brian Armstrong are all quietly investing in the same te...
Brownstone Research | Sponsoredtc pixel
Sell Tesla, Buy the New King of FSD Cars
In 2023, Marc Chaikin's system flagged an automotive stock as bearish - and it fell 35% shortly after. Today, ...
Chaikin Analytics | Sponsoredtc pixel
The pre-flight check for options traders
Pilots never skip their pre-flight checklist - and neither should options traders. The Smart Trade Options Che...
Profits Run | Sponsoredtc pixel