BlackSky Q4 revenue rises 16% on demand for Gen-3 contracts

Blacksky Technology

26/02/2026 12:09

Overview

Space-based intelligence firm's Q4 revenue rose 16% yr/yr but missed analyst expectations

Q4 net loss narrowed significantly due to changes in derivatives

Company's backlog grew 32% yr/yr to $345 mln, driven by Gen-3 contracts

Outlook

BlackSky expects 2026 revenue between $120 mln and $145 mln

Company forecasts 2026 adjusted EBITDA between $6 mln and $18 mln

BlackSky anticipates 2026 capital expenditures between $50 mln and $60 mln

Result Drivers

GEN-3 CONTRACTS - Strong demand for Gen-3 contracts drove backlog growth and revenue increase

INTERNATIONAL DEMAND - Significant international demand contributed to backlog growth and diversified customer base

CONTRACT CONVERSIONS - Early customer pilots converted into long-term subscription contracts, supporting revenue growth

Company press release: ID:nBw1B2YBFa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$35 mln
$37.06 mln (12 Analysts)
Q4 Net Income
-$900,000
Q4 Adjusted EBITDA
$8.80 mln
Q4 Capex
$12.70 mln
Q4 Operating Expenses
$29.70 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"

The average consensus recommendation for the aerospace & defense peer group is "buy"

Wall Street's median 12-month price target for Blacksky Technology Inc is $23.00, about 13.9% above its February 25 closing price of $20.19

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.)