BlackSky to launch first Gen-3 satellite for advanced imaging

HERNDON, Va. - BlackSky Technology Inc. (NYSE: BKSY), a satellite imaging company with a market capitalization of $533 million, is set to enhance its satellite imaging capabilities with the scheduled launch of its first Gen-3 satellite. The launch, named "Fasten Your Space Belts," is planned to commence on February 18, according to a recent company statement. According to InvestingPro data, the company’s stock has shown remarkable momentum, delivering a 98% return over the past six months. This satellite will introduce 35-centimeter imaging resolution to BlackSky’s existing suite of high-cadence, low-latency data and artificial intelligence (AI)-enabled analytics services.

The Gen-3 satellite recently completed encapsulation onto an Electron rocket at Rocket Lab’s Launch Complex 1 in New Zealand. BlackSky CEO Brian O’Toole emphasized the significance of this development for the company’s global defense and intelligence customers, noting that the addition of Gen-3 capabilities to the constellation marks a major inflection point.

Rocket Lab USA, Inc. (Nasdaq: RKLB), the launch provider, has a history of collaboration with BlackSky, having supported the deployment of its constellation previously. Rocket Lab founder and CEO Sir Peter Beck expressed enthusiasm for the continued partnership and the opportunity to advance and expand BlackSky’s constellation.

The forthcoming Gen-3 satellites are expected to enhance BlackSky’s constellation with increased capacity and flexibility, offering customers reliable access to services. These satellites will be capable of automated detection, identification, and classification of various objects of tactical interest, which will bolster BlackSky’s space-based intelligence applications for tactical ISR (Intelligence, Surveillance, Reconnaissance) missions and strategic intelligence operations.

BlackSky, headquartered in Herndon, VA, operates a sophisticated commercial real-time intelligence system, combining its Spectra® tasking and analytics software platform with a proprietary low earth orbit satellite constellation. The company serves U.S. and international government agencies, commercial businesses, and organizations, providing imagery and analytics for strategic advantage. With an impressive gross profit margin of 70% and revenue growth of 37% in the last twelve months, BlackSky demonstrates strong operational efficiency. InvestingPro subscribers can access 12 additional key insights about BlackSky’s financial health and market position in the comprehensive Pro Research Report, which provides expert analysis of what really matters for informed investment decisions.

This news is based on a press release statement and contains forward-looking statements subject to risks and uncertainties. BlackSky has not provided any further details on the potential risks or uncertainties associated with the launch. The information provided is current as of the date of the release and may change in the future. Investors should note that analysts maintain a Strong Buy consensus on the stock, with the company scheduled to report its next earnings on February 28, 2025.

In other recent news, BlackSky Technology Inc. has made significant strides in the intelligence services sector. The company announced a substantial subscription contract with EMDYN to deliver Gen-2 space-based imagery services to international government customers. This collaboration aims to integrate space and terrestrial data for on-demand insights at scale, enhancing real-time tactical operations.

In addition to this, BlackSky secured a seven-year contract valued at over $100 million with a strategic international defense sector customer. This contract underscores BlackSky’s growing footprint in the defense sector, providing real-time monitoring capabilities.

Furthermore, H.C. Wainwright raised its price target for BlackSky to $20, maintaining a Buy rating. This revision follows a series of new, sizable contract announcements made by BlackSky, including the aforementioned defense contract and a vendor position for the National Geospatial-Intelligence Agency’s $200 million Luno B commercial data contract.

Lastly, BlackSky was awarded a one-year extension to its existing contract with the National Reconnaissance Office (NRO), further solidifying its position as a trusted mission partner. These are recent developments that highlight BlackSky’s continued growth and potential in the intelligence services sector.

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