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HERNDON, Va. - BlackSky Technology Inc. (NYSE:BKSY), a satellite intelligence company with impressive gross profit margins of 69%, has secured a contract to provide subscription-based satellite monitoring services to Latin American defense and intelligence customers focused on combating transnational organized crime, according to a company press release. The company has shown strong momentum, delivering a 122% return to investors over the past year, according to InvestingPro data.
The agreement gives customers immediate access to BlackSky’s Gen-3 and Gen-2 satellite monitoring capabilities through the company’s Spectra tasking and analytics platform. Users will be able to set up AI-enabled automated tasking for BlackSky’s satellites, access archived imagery and analytics, and order third-party commercial constellation data.
"BlackSky’s low-latency, high-cadence monitoring services give government security forces an unparalleled strategic and tactical first-to-act advantage," said Brian O’Toole, BlackSky CEO.
The company’s satellite constellation is designed to provide frequent revisit rates, delivering imagery and analytics up to 15 times per day. This capability aims to give users visibility into pattern-of-life anomalies such as irregular migration or vehicle, vessel and aircraft movements.
BlackSky emphasizes that its On-Demand subscription model offers flexibility for operations where rapid response is essential, providing immediate tasking and mission-ready analytics.
Based in Herndon, Virginia, BlackSky operates a commercial real-time intelligence system that combines its Spectra software platform with a proprietary low earth orbit satellite constellation. Currently valued at approximately $702 million, the company trades on the New York Stock Exchange and is currently trading below its InvestingPro Fair Value. For deeper insights into BlackSky’s financial health, growth prospects, and 16 additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, BlackSky Technology announced preliminary second-quarter results, reporting estimated revenue of $22.2 million, a decrease from $24.9 million in the same period last year. Revenue from imagery and software analytical services slightly increased to $18.0 million, while revenue from professional and engineering services fell to $4.2 million. BlackSky also revised its full-year guidance downward, impacting investor expectations. Additionally, the company priced a $160 million offering of 8.25% Convertible Senior Notes due 2033, increasing from the previously planned $125 million. This offering is expected to close soon, subject to customary conditions. On the analyst front, Clear Street downgraded BlackSky’s stock rating from Buy to Hold, despite raising the price target to $24.00. Meanwhile, Canaccord Genuity lowered its price target to $27.00, maintaining a Buy rating, amid potential budget cuts in the Department of Defense’s commercial imagery allocation. H.C. Wainwright raised its price target to $28.00, citing a positive long-term outlook for the company.
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