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Jun 30, 2024
Blacksky Q2 2024 Earnings Report
Blacksky reported a strong Q2 2024, marked by a 29% increase in total revenue year-over-year and significant operating leverage, leading to improved margin performance.
Key Takeaways
BlackSky's Q2 2024 total revenue increased by 29% year-over-year to $24.9 million. The company won $40 million in new contracts and renewal agreements. Adjusted EBITDA improved to $2.1 million, compared to a loss of $5.8 million in the same quarter last year. The company maintains its outlook for full year 2024 revenue of between $102 million and $118 million, and full year 2024 Adjusted EBITDA of between $8 million and $16 million.
Total revenue increased by 29% year-over-year, reaching $24.9 million.
Imagery & software analytical services revenue grew 14% over the prior year quarter.
The company secured $40 million in new contracts and renewal agreements.
Adjusted EBITDA improved significantly to $2.1 million from a loss of $5.8 million in the prior year quarter.
Revenue by Segment
Forward Guidance
The Company maintains its outlook for full year 2024 revenue of between $102 million and $118 million, and full year 2024 Adjusted EBITDA of between $8 million and $16 million.
Positive Outlook
- Full year 2024 revenue outlook maintained between $102 million and $118 million.
- Full year 2024 Adjusted EBITDA outlook maintained between $8 million and $16 million.
Challenges Ahead
- Full year 2024 capital expenditures expected to be between $55 million and $65 million, primarily driven by investments in Gen-3 satellites.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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