BKSY
BlackSky Technology Inc.
Next earnings Aug 5, 2026 · consensus $-0.41 EPS, $31.3M rev
Last earnings -20.4% on 2026-05-07
$24.76
▲ +1.68%$24.76▲ +50.33%
over 1Y
L $13.14EODHDH $51.63
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.7%
1W-13.2%
1M-51.5%
3M+6.3%
YTD+18.9%
1Y+50.3%
Avoid
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 13 analysts
Buy
Capital-intensive smallsat operator burning cash at 8.5x sales with -65.9% net margin and ballooning debt — price discounts a future BlackSky has not earned.
Price $24.43 · current
BlackSky is a real business with a real product — Gen-3 satellites, the Spectra platform, and demanding U.S./international government customers — but the FY2025 numbers do not match the $904M market cap. Revenue grew just 4.4% to $107M, a sharp deceleration from the 2021→2023 ramp, while net loss widened to -$70.3M and operating loss sat at -$46.9M (-44.0% operating margin). Operating cash flow flipped to -$28.3M (a $40M-plus swing from prior year), R&D was effectively zeroed at $433K (-67.8% YoY), and the accumulated deficit deepened to -$726M. At 8.5x trailing sales for a low-growth, deeply unprofitable hardware-heavy business, the multiple already prices in a steep re-acceleration the filing itself does not promise.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $34.1M | $65.3M | $94.5M | $102M | $107M |
| Gross profit | — | — | — | — | — |
| Operating income | -$120M | -$86.5M | -$56.0M | -$44.3M | -$46.9M |
| Net income | -$246M | -$74.2M | -$53.9M | -$57.2M | -$70.3M |
| Diluted EPS | -$3.39 | -$0.63 | -$3.18 | -$2.67 | -$2.09 |
| Net margin | -720.7% | -113.5% | -57.0% | -56.0% | -65.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$1.07B
EV / EBITDA—
EV / Sales10.1
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-7.7%
FCF yield—
Quality & risk
ROIC (est.)-12.5%
Free cash flow—
Total debt$201M
Net cash-$159M
Altman Z-Score-0.41 distress
Piotroski F-Score2/8
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+16.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Material agreement2026-05-22
Entered new material agreement (likely contract/financing); details in exhibits.
- 8-K Earnings results2026-05-07
Q1 2026 10-Q: losses continue; cash burn and rising debt remain key concerns.
- 10-Q Quarterly report2026-05-07
Q1 2026 10-Q: losses continue; cash burn and rising debt remain key concerns.
- 10-K/A Restated periodic report2026-04-16
10-K/A amends FY2025 annual report — typically Part III proxy info, not restatement.
- 8-K Officer / director change2026-04-07
Executive/director change announced — leadership transition risk.
- 10-K Annual report2026-03-17
FY2025: rev $107M (+4%), net loss -$70M, debt +83%, shares +17% — growth stalled.
- 8-K/A Amended 8-K2026-03-02
Amended prior 8-K with corrected/added disclosures.
- 8-K Earnings results2026-02-26
Q4/FY2025 earnings: rev +4.4% to $107M, net loss widened to -$70.3M.
- 8-K Material agreement2025-12-12
Material agreement signed — possible customer contract or financing facility.
Recent filings
all on EDGAR ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗144Filing2026-06-11open ↗144Filing2026-06-11open ↗144Filing2026-06-11open ↗EFFECTFiling2026-05-26open ↗POS AMFiling2026-05-22open ↗8-KPeriod ending 2026-05-222026-05-22open ↗424B5Filing2026-05-22open ↗S-3ASRFiling2026-05-22open ↗SDFiling2026-05-15open ↗
Frequently asked
- Is BlackSky Technology Inc. (BKSY) a buy?
- BKSY currently carries a Avoid rating with 4/5 conviction, derived from its latest SEC filings. Capital-intensive smallsat operator burning cash at 8.5x sales with -65.9% net margin and ballooning debt — price discounts a future BlackSky has not earned.
- What is BlackSky Technology Inc.'s quality score?
- BKSY scores 36.01960784313725/100 (grade F) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001753539, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/25/2026, 2:30:08 PM.
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