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Jun 30, 2022
Blacksky Q2 2022 Earnings Report
Blacksky's Q2 2022 revenue more than doubled, driven by strong customer engagement and demand.
Key Takeaways
BlackSky reported a strong second quarter in 2022, with revenue reaching an all-time high of $15.1 million, a 105% increase compared to the prior year period. The company won several large multi-year contracts with a total value up to $1.27 billion and raised its full year 2022 revenue outlook.
Revenue increased by 105% compared to the prior year quarter, reaching $15.1 million.
Imagery and software analytical services revenue grew by 161% year-over-year and accounted for 88% of total revenue.
The company was awarded the Electro Optical Commercial Layer (EOCL) contract with the National Reconnaissance Office with a total value up to $1.021 billion over the next 10 years.
BlackSky raised its full-year revenue expectations to between $62 and $66 million.
Blacksky
Blacksky
Blacksky Revenue by Segment
Revenue by Segment
Imagery & Software Analytical Services Revenue
CapyFin.comProfessional & Engineering Services Revenue
CapyFin.com Forward Guidance
BlackSky raised its full-year revenue expectations to between $62 million and $66 million and continues to expect capital expenditures for the entire year of 2022 to be between $52 million and $56 million.
Positive Outlook
- Customer utilization and demand for BlackSky’s unique dynamic monitoring, on-demand satellite tasking, and analytic insights continue to be strong.
- Increased market demand.
- Several large multi-year contracts recently awarded to BlackSky.
- Sets the stage for a robust second half of the year.
- Company has raised its full-year revenue expectations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income