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Sep 30, 2024
Blacksky Q3 2024 Earnings Report
Blacksky reported a revenue increase of 6% year-over-year, driven by growth in imagery and software analytical services. The company reaffirmed its full-year 2024 guidance and is preparing for the launch of its first Gen-3 satellite.
Key Takeaways
BlackSky reported a 6% increase in revenue for Q3 2024, reaching $22.5 million. The company secured new contracts valued up to $780 million year-to-date and is progressing with the launch of its first Gen-3 satellite. They are maintaining full year 2024 revenue guidance of $102 million to $118 million and adjusted EBITDA guidance of $8 million to $16 million.
Revenue increased by 6% year-over-year to $22.5 million.
Imagery and software analytical services revenue grew by 13% year-over-year.
The company secured new awards valued up to $780 million year-to-date.
The first Gen-3 satellite is completing final pre-ship testing.
Blacksky
Blacksky
Blacksky Revenue by Segment
Revenue by Segment
Imagery & Software Analytical Services Revenue
CapyFin.comProfessional & Engineering Services Revenue
CapyFin.com Forward Guidance
BlackSky 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. The Company maintains its expectations for full year 2024 capital expenditures of between $55 million and $65 million, primarily driven by investments in its Gen-3 satellites.
Positive Outlook
- Ramping up revenues from recent contract awards
- Working on sizable new and expansion contracts
- Full year 2024 revenue outlook between $102 million and $118 million
- Full year 2024 adjusted EBITDA outlook between $8 million and $16 million
- Full year 2024 capital expenditures between $55 million and $65 million
Challenges Ahead
- Uncertainty surrounding the timing of close and start of revenue recognition
- Long and unpredictable sales cycles
- Customer demand may vary
- Ability to estimate resources for fixed-price contracts
- Expenses and other operational and liquidity needs
Revenue & Expenses
Visualization of income flow from segment revenue to net income