BlackSky Technology Inc. (BKSY) shares have soared to a 52-week high, reaching a price level of $14.22, as investors rally behind the geospatial intelligence company’s robust growth prospects. According to InvestingPro data, the company has demonstrated impressive revenue growth of ~37% over the last twelve months, with notably strong gross profit margins of nearly 70%. The significant surge in stock value marks a notable milestone for the company, reflecting a bullish sentiment in the market. Over the past year, BlackSky has witnessed an impressive 26.91% change, underscoring the company’s strong performance and the increasing investor confidence in its business model and future outlook. This uptick in share price is a testament to BlackSky’s strategic initiatives and its potential to capitalize on the expanding market for geospatial data and analytics. InvestingPro analysis suggests the stock is currently trading near its Fair Value, with analyst targets ranging from $9 to $18. InvestingPro subscribers can access 13 additional key insights and a comprehensive Pro Research Report, offering deep-dive analysis of BKSY’s financial health and growth potential.
In other recent news, BlackSky Technology Inc. has been making significant strides in its operations. The company reported a substantial year-to-date revenue increase of 22% and secured contracts worth up to $780 million, which include a $290 million contract with the NGA and a $476 million contract with NASA. This news follows the extension of BlackSky’s existing contract with the National Reconnaissance Office, ensuring the continuation of high-frequency, low-latency Gen-2 imagery services until mid-2026.
In terms of financial health, the company has achieved a positive adjusted EBITDA for the fourth consecutive quarter and raised over $45 million for its baseline Gen 3 satellite constellation. The first Gen 3 satellite is nearing launch readiness, with a launch window expected in early 2025. These recent developments highlight BlackSky’s growth and progress.
BlackSky also maintains its 2024 revenue guidance of $102 to $118 million and adjusted EBITDA of $8 to $16 million. Despite expected revenue delays from Q3 to Q4, the company anticipates approximately $26 million in milestone payments over the next 12 months. Regular Gen 3 satellite launches are planned to begin in 2025 to meet increasing customer demand. These facts are based on information provided in BlackSky’s Third Quarter 2024 Earnings Conference Call and a press release statement from the company.
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