BlackSky Q1 revenue misses estimates, lifts outlook on contract wins

Blacksky Technology

07/05/2026 12:21

Overview

US space-based intelligence firm's Q1 revenue fell, missing analyst expectations

Net loss widened year-over-year, partly due to derivative losses and lower milestone revenue

Company raised 2026 revenue and adjusted EBITDA guidance after securing up to $160 mln in new contracts

Outlook

BlackSky raises 2026 revenue outlook to $130 mln-$150 mln

Company lifts 2026 adjusted EBITDA forecast to $12 mln-$24 mln

BlackSky maintains 2026 capital expenditures guidance at $50 mln-$60 mln

Result Drivers

CONTRACT WINS - Co said up to $160 mln in new contracts, including multi-year deals with defense and government customers, are driving revenue growth

GEN-3 DEMAND - Accelerated demand for Gen-3 space-based intelligence and AI services contributed to growth in core segment

REVENUE DECLINE EXPLAINED - Q1 2025 included a $9 mln program milestone benefit that did not recur in Q1 2026, impacting year-over-year revenue comparison

Company press release: ID:nBw4Pmzw8a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$21 mln
$28.07 mln (12 Analysts)
Q1 Net Income
-$29.7 mln
Q1 Adjusted EBITDA
-$5.1 mln
Q1 Capex
$15.8 mln
Q1 Operating Expenses
$32 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Blacksky Technology Inc is $26.00, about 35.8% below its May 6 closing price of $40.51

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)