BlackSky Q3 revenue more than doubles, outlook raised

Overview

• US space-based intelligence firm's Q3 revenue rose 118% yr/yr, beating analyst expectations

• Company posted Q3 net income of $19 mln, reversing a loss a year earlier

• Company raised full-year 2026 outlook for revenue and adjusted EBITDA

Outlook

• BlackSky raises 2026 revenue outlook to $140 mln-$150 mln

• Company lifts 2026 adj EBITDA forecast to $18 mln-$24 mln

• BlackSky maintains 2026 capital expenditures guidance at $50 mln-$60 mln

Result Drivers

• GEN-3 SALES - Co said accelerating customer demand for Gen-3 drove record space-based intelligence and AI services revenue

• MARGIN IMPROVEMENT - Operating leverage from high-margin space-based intelligence services improved cost of sales as a percentage of revenue

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the aerospace & defense peer group is "buy"

• Wall Street's median 12-month price target for BlackSky Technology Inc. is $36.00, about 114.7% above its November 4 closing price of $16.77

Reuters Recommended Reads

• Nov 2 - Voyager Technologies Q3 revenue beats; low end of 2026 outlook range raised

• Nov 5 - Canada's MDA beats Q3 revenue estimates on Satellite Systems growth, raises FY outlook

• Nov 4 - Redwire Q3 revenue up 5% but misses estimates

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)