Gold prices fall as geopolitical tensions ease; U.S. CPI looms
HERNDON, Va. - BlackSky Technology Inc. (NYSE:BKSY), whose stock has surged 173% over the past year and maintains impressive gross profit margins of 69%, has secured a competitive, multimillion-dollar contract with a new international customer for satellite imagery services and ground segment modernization, according to a press release statement issued Tuesday.
The multi-year agreement combines immediate subscription-based imagery and analytics services from BlackSky’s Gen-3 and Gen-2 satellites, along with follow-on ground segment modernization services through 2029. The contract adds to BlackSky’s $107.4 million trailing twelve-month revenue, with analysts anticipating continued sales growth according to InvestingPro data.
Under the contract, the customer will receive subscription-based access to BlackSky’s Assured services, which guarantees tasking capacity for persistent monitoring over specific areas of interest. BlackSky will also upgrade the customer’s existing ground station and mission operations center with direct-downlink and uplink communications capabilities.
The customer will utilize BlackSky’s automated Spectra AI-enabled tasking and analytics platform to order and fuse data from satellites, enabling detection and classification of objects such as vehicles, aircraft, and vessels.
"BlackSky’s end-to-end automated architecture uniquely gives our most demanding customers the ability to task and receive high-cadence imagery and AI-enabled analytics starting on day one," said Brian O’Toole, BlackSky CEO.
BlackSky, headquartered in Herndon, Virginia, describes itself as a real-time, space-based intelligence company that delivers on-demand imagery and monitoring services. The company operates its own satellite constellation and proprietary software platform.
The financial terms and specific identity of the international customer were not disclosed in the announcement. Currently trading near its 52-week high of $25.38, BlackSky’s stock appears to be trading above its Fair Value based on InvestingPro analysis, which offers 15+ additional exclusive insights about the company’s financial health and growth prospects through its comprehensive Pro Research Report.
In other recent news, BlackSky Technology Inc. secured a $24 million contract with the National Geospatial-Intelligence Agency (NGA) for monitoring military and economic facilities globally. This four-year agreement involves AI-enabled detection of changes in object patterns and activities at various strategic locations. Additionally, BlackSky renewed a contract with an international customer, enhancing its service with Gen-3 satellite imagery, which offers very high-resolution capabilities. The company currently operates two Gen-3 satellites and plans to expand this to six by the end of 2025.
Analyst firms have also shown optimism about BlackSky’s growth prospects. H.C. Wainwright raised its price target for the company to $28, citing a projected acceleration in revenue growth driven by Gen-3 satellite deployments. Canaccord Genuity increased its price target to $20, highlighting the impressive performance of BlackSky’s Gen-3 satellites in delivering rapid imagery and analytics. Both firms maintain a Buy rating on the stock, reflecting confidence in BlackSky’s future revenue prospects and operational leverage. These developments suggest a positive trajectory for BlackSky’s business, driven by its advanced satellite technology and strategic contracts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.