One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
BlackSky Technology Inc.
BKSY · NYQ · Industrials · Specialty Business Services
Current price
$21.33
52-week range
$12.41 - $52.88
Market cap
$872.93M
Balance sheet
Distressed
-3.14x Concerning
Net debt $16.95M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 24.0% last year.
- Risk Net debt grew 1001.5% over 3 years.
- Risk Return on equity was -20.2% last year — the company lost money on shareholders' equity.
What this company does
BlackSky Technology Inc.
BlackSky Technology Inc. provides space-based intelligence and AI services, essentially selling insights from satellites to governments and businesses. Their main money comes from these services, which help users understand things happening on Earth, like tracking critical inventory in the supply chain (the network of companies involved in making and delivering a product). This matters because it helps make important decisions in areas like national security and economic planning.
How the company got here
BlackSky Technology Inc. was founded in 2014 with the goal of providing real-time insights from space. The company recognized the growing need for up-to-the-minute information about events happening on Earth, driven by national security concerns and the complexities of global commerce. By building its own satellite constellation and developing advanced AI (artificial intelligence) tools to process the data, BlackSky aimed to offer a unique perspective on global activities. This foundation in satellite technology and data analytics has shaped its evolution into a provider of space-based intelligence services.
What it actually does
BlackSky Technology Inc. is essentially a data company that uses satellites to gather information about what's happening on Earth and then uses artificial intelligence to make sense of that information. Think of it like having a global surveillance system that can spot changes, track activity, and provide intelligence. This intelligence is crucial for various customers who need to make informed decisions quickly, whether it's for national security, understanding global trade, or monitoring critical infrastructure.
On-Orbit Services
This business line involves operating BlackSky's own constellation of satellites. These satellites capture high-resolution images and other types of data from space. Customers pay for access to this data, which can be used for a variety of purposes, such as monitoring specific locations for changes, tracking the movement of goods, or assessing environmental conditions. This segment is the core of BlackSky's ability to gather unique, real-time information from above.
Analytics and AI Platform
This segment focuses on the BlackSky Spectra software platform, which is where the magic of data processing happens. It's an AI-enabled system that takes the raw data from BlackSky's satellites, as well as information from other sources (like different types of satellites or ground-based sensors), and turns it into actionable intelligence. This platform helps detect patterns, identify anomalies, and provide insights like monitoring retail activity or tracking commodities stockpiles, making the vast amount of satellite data useful for decision-making.
Mission Solutions and Advanced Technology Programs
This part of BlackSky involves developing and delivering customized satellite and payload systems, along with providing cloud computing and hosting services. It's about tailoring technology to specific customer needs, which can include building specialized satellites or integrating BlackSky's technology into a client's existing systems. This segment also encompasses internal labor dedicated to enhancing customer adoption and operational integration of their technology, ensuring clients can effectively use BlackSky's offerings.
What management is betting on now
BlackSky's management is focused on expanding its reach and capabilities in space-based intelligence. A key priority is enhancing the AI and analytics platform to provide even deeper insights from its satellite data, making it more valuable for customers. They are also likely investing in growing their satellite constellation to offer more frequent and comprehensive coverage of the globe. The strategy involves deepening relationships with government and commercial clients, demonstrating how BlackSky's unique data and analytics can support critical decision-making in areas like national security and supply chain resilience.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
Revenue
$42.84M
Net income
$18.52M
Diluted EPS
0.10
Operating cash flow
$3.56M
Free cash flow
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Sources
Revenue
$33.32M
Net income
$-20.83M
Diluted EPS
-0.54
Operating cash flow
$-3.52M
Free cash flow
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Sources
Revenue
$20.77M
Net income
$-29.66M
Diluted EPS
-0.82
Operating cash flow
$-2.36M
Free cash flow
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Revenue
$35.21M
Net income
$-868.00K
Diluted EPS
0.04
Operating cash flow
$-9.32M
Free cash flow
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Sources
Revenue
$19.62M
Net income
$-15.34M
Diluted EPS
-0.44
Operating cash flow
$-38.96M
Free cash flow
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Sources
Revenue
$22.20M
Net income
$-41.24M
Diluted EPS
-1.27
Operating cash flow
$-7.28M
Free cash flow
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Sources
Revenue
$29.54M
Net income
$-12.81M
Diluted EPS
-0.42
Operating cash flow
$27.25M
Free cash flow
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Sources
Revenue
$30.37M
Net income
$-19.42M
Diluted EPS
-1.84
Operating cash flow
$-1.82M
Free cash flow
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Is it cheap or expensive?
Fair value — vs current price $21.33
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $17.0M. Interest coverage -3.1x.
Net debt
$16.95M
Interest coverage
-3.14x
BlackSky Technology Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
BKSY
BASELINE
BlackSky Technology Inc.
Total debt $229.74M Interest coverage -3.14x This is the baseline the peer rows are being compared against.
Total debt $498.62M Interest coverage -27.67x Neither company has much profit cushion over interest right now.
Total debt $9.69M Interest coverage -11.71x Neither company has much profit cushion over interest right now.
Total debt $96.49M Interest coverage -2,386.08x Neither company has much profit cushion over interest right now.
Total debt $133.69M Interest coverage -8.64x Neither company has much profit cushion over interest right now.
Total debt $225.27M Interest coverage 407.50x This peer still has a real interest-payment cushion, while BKSY does not.
What you should know
The case for and against BKSY
1 Reward
2 Risks
Rewards
-
Revenue grew 24.0% last year.
Risks
-
Net debt grew 1001.5% over 3 years.
-
Return on equity was -20.2% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-59.25x
P/B
3.73x
P/S
6.61x
EV/EBITDA
781.17x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
73.4%
Operating margin
0.9%
Net margin
-24.9%
ROE
-20.2%
ROA
-4.4%
Health
Liquidity and balance-sheet strength
Debt / equity
0.98x
Current ratio
5.27x
Quick ratio
4.70x
Total debt
$229.74M
Total cash
$212.79M
Growth
How the business has been compounding
Revenue TTM
$132.15M
Revenue 5Y CAGR
33.0%
EPS TTM
-0.81
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-11.64M
Free CF TTM
$-44.52M
FCF margin
-33.7%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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