- BlackSky Technology Inc (NYSE:BKSY) reported first-quarter revenue growth of 91% year-over-year to $13.9 million, beating the consensus of $11 million.
- Imagery and software analytical services revenue was $9.8 million (+63% Y/Y), driven by increased demand from new and existing government contracts.
- EPS loss narrowed to $(0.17) from $(0.70) in 1Q21.
- Gross margin contracted 330 basis points to 21.2% due to higher engineering and systems integration expenses.
- The operating loss for Q1 totaled $(27.1) million versus an operating loss of $(9.5) million in 1Q21.
- Adjusted EBITDA loss was $(9.5) million compared to a loss of $(6.2) million in the prior-year period.
- Net cash used in operating activities totaled $(12.67) million in Q1, compared to $(10.58) million a year ago.
- As of March 31, 2022, BlackSky's cash and equivalents totaled $138.4 million.
- BKSY anticipates strong demand for its geospatial intelligence and analytic insights throughout the year.
- FY22 Outlook reaffirmed: BlackSky expects revenue of $58 million - $62 million (consensus $61.5 million), which represents 76% growth Y/Y at the mid-point.
- Price Action: BKSY shares are trading lower by 5.27% at $1.13 on the last check Wednesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
BlackSky Shares Slide Post Q1 Results
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks