Satellite maker BlackSky Q3 revenue misses estimates, net loss widens

Blacksky Technology

06/11/2025 12:14

Overview

BlackSky Q3 2025 revenue misses analyst expectations due to reduced EOCL contract

Company wins over $60 mln in new contracts driven by strong international demand

Net loss for Q3 2025 increases to $15.3 mln compared to last year

Outlook

BlackSky maintains full-year 2025 guidance for revenue, adjusted EBITDA, and capital expenditures

Company anticipates strong Q4 driven by international demand for space-based intelligence solutions

BlackSky not providing detailed reconciliation of projected adjusted EBITDA due to uncertainties

Result Drivers

INTERNATIONAL DEMAND - Strong international demand for space-based intelligence solutions drove over $60 mln in new contract awards, per CEO Brian E. O'Toole

GEN-3 SATELLITES - Sovereign nations are increasing budgets and acquisition cycles for Gen-3 satellites, contributing to growth

EOCL CONTRACT REDUCTION - Revenue miss attributed to expected reduction in EOCL contract with NRO and U.S. government budget uncertainties

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Miss
$19.60 mln
$28.60 mln (8 Analysts)
Q3 Net Income
-$15.30 mln
Q3 Adjusted EBITDA
-$4.50 mln
Q3 Capex
$15 mln
Q3 Operating Expenses
$29.60 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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 $26.00, about 27.8% above its November 5 closing price of $18.78

Press Release: ID:nBw7812cGa

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(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.)