BlackSky Technology (NYSE:BKSY) Releases Earnings Results, Misses Estimates By $0.45 EPS

BlackSky Technology (NYSE:BKSY) announced its quarterly earnings data on Thursday. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.45), Zacks reports. The firm had revenue of $20.77 million for the quarter, compared to the consensus estimate of $27.60 million. BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 72.20%.

Here are the key takeaways from BlackSky Technology’s conference call:

• Gen-3 inflection — Four Gen‑3 satellites are operational (4th launched in March and commissioned within days), and the company is on track for at least eight Gen‑3s on orbit this year, enabling daily 35 cm revisit rates and expanded high‑resolution capacity.
• The company raised full‑year revenue guidance to $130–$150M and adjusted EBITDA to $12–$24M, and expects >50% growth in space‑based intelligence & AI services to a >$100M annual run rate with roughly 80% gross margins for that segment.
• Backlog and wins strengthened — up to $160M in contract awards year‑to‑date, backlog of about $351M as of March 31 (≈$380M including early‑April contracts), and a new customer‑funded award of up to $99M with the U.S. Air Force Research Laboratory for advanced optical payload development.
• Q1 and liquidity — Q1 revenue was $20.8M with an adjusted EBITDA loss of $5.1M, but the company finished the quarter with $117.5M in cash/restricted cash/short‑term investments and total liquidity >$195M while keeping CapEx guidance at $50–$60M.
• Product differentiation — Proprietary AI operational in the Spectra platform delivers imagery plus analytics in under ~40 minutes, processing millions of detections and driving conversion of pilots into 7‑ and 8‑figure subscriptions, with strong international demand.

BlackSky Technology Trading Up 22.8%

Shares of BKSY traded up $7.34 during trading hours on Friday, hitting $39.58. The company had a trading volume of 3,256,754 shares, compared to its average volume of 1,888,984. BlackSky Technology has a 52-week low of $9.88 and a 52-week high of $42.75. The company has a quick ratio of 3.37, a current ratio of 3.48 and a debt-to-equity ratio of 2.04. The stock’s 50 day moving average price is $29.24 and its 200 day moving average price is $23.73. The firm has a market cap of $1.47 billion, a P/E ratio of -15.52 and a beta of 2.44.

Wall Street Analyst Weigh In

Several analysts have issued reports on BKSY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BlackSky Technology in a research note on Monday, April 20th. HC Wainwright reissued a “buy” rating and set a $42.00 price target on shares of BlackSky Technology in a research note on Friday, February 27th. Canaccord Genuity Group lowered their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Wall Street Zen upgraded shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a report on Saturday, March 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BlackSky Technology has an average rating of “Moderate Buy” and a consensus price target of $27.40.

Hedge Funds Weigh In On BlackSky Technology

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position in BlackSky Technology by 392.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after purchasing an additional 1,652,014 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of BlackSky Technology by 7.8% in the third quarter. Vanguard Group Inc. now owns 1,697,683 shares of the company’s stock worth $34,208,000 after purchasing an additional 123,171 shares during the last quarter. State Street Corp increased its stake in shares of BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after buying an additional 386,207 shares during the period. Geode Capital Management LLC raised its holdings in BlackSky Technology by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 718,490 shares of the company’s stock valued at $13,474,000 after buying an additional 22,695 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after buying an additional 432,023 shares during the last quarter. 27.15% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about BlackSky Technology

Here are the key news stories impacting BlackSky Technology this week:

• Negative Sentiment: BlackSky reported a wider-than-expected Q1 loss of $0.82 per share, well below the consensus loss estimate of $0.37. BlackSky Technology earnings release and conference call materials
• Negative Sentiment: Revenue came in at $20.77 million, missing analyst expectations of $27.60 million, reinforcing concerns about near-term execution. BlackSky Technology earnings release and conference call materials
• Positive Sentiment: Stonegate Capital said 1Q26 showed a clearer Gen-3 commercialization inflection, with accelerating sovereign contract adoption and improving revenue visibility. Stonegate Capital Partners coverage update
• Positive Sentiment: Management raised FY26 revenue guidance to $130 million-$150 million, which suggests confidence in demand and a stronger second half. Stonegate Capital Partners coverage update
• Neutral Sentiment: Investors are also focusing on the company’s Q1 2026 earnings call transcript for additional detail on backlog, contract timing, and the path to profitability. Seeking Alpha transcript

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.