Blacksky Q2 2024 Earnings Report
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.
Blacksky
Blacksky
Blacksky 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