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Sep 30, 2022
Blacksky Q3 2022 Earnings Report
Blacksky's Q3 2022 earnings report revealed a 113% increase in revenue compared to the prior year quarter, with imagery and software analytical services revenue comprising 89% of total revenue. The company affirmed the upper end of its full-year 2022 revenue guidance.
Key Takeaways
Blacksky reported a strong Q3 2022 with a 113% increase in revenue year-over-year, reaching $16.9 million. Imagery and software analytical services drove growth, making up 89% of total revenue. The company is optimistic about finishing 2022 strong and expects to reach the upper end of its revenue guidance.
Revenue increased by 113% compared to the prior year quarter, reaching $16.9 million.
Imagery and software analytical services revenue grew by 130% over the prior year's quarter, representing 89% of total revenues.
The company achieved daily delivery rates for advanced imaging subscription services under the EOCL contract with the National Reconnaissance Office (NRO).
BlackSky anticipates full year 2022 revenues to be at the upper end of the guidance range.
Revenue by Segment
Forward Guidance
BlackSky expects its full year 2022 revenue to achieve the upper end of the guidance range previously provided of between $62 million and $66 million. The Company continues to expect capital expenditures for the full year 2022 to be between $52 million and $56 million.
Positive Outlook
- Strong global demand for high-resolution imagery.
- Growing interest in dynamic monitoring solutions.
- Increased adoption of AI-driven analytic solutions.
- Expected revenue to achieve the upper end of the guidance range.
- Continued focus on expanding the customer base.
Challenges Ahead
- Unspecified risks and uncertainties that could affect actual results.
- Potential impact of global economic conditions.
- Competition in the geospatial intelligence market.
- Dependence on government contracts.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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