BlackSky Technology Inc. (BKSY) Earnings
BlackSky Technology Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.38. BKSY has beaten EPS estimates in 5 of its last 10 reported quarters (average surprise -27.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.37 | $-0.82 | -121.6% | $21M | -24.7% |
| Nov 6, 2025 | $-0.37 | $-0.35 | +5.4% | $20M | -47.2% |
| Aug 7, 2025 | $-0.49 | $-0.52 | -6.1% | $22M | -24.8% |
| May 8, 2025 | $-0.47 | $-0.42 | +10.6% | $30M | +1.0% |
| Mar 6, 2025 | $-0.28 | $-0.39 | -39.3% | $30M | +6.6% |
| Nov 7, 2024 | $-0.61 | $-0.66 | -8.2% | $23M | -34.1% |
| Aug 8, 2024 | $-0.72 | $-0.48 | +33.3% | $25M | -1.7% |
| Feb 28, 2024 | $-0.72 | $-0.40 | +44.4% | $36M | +34.6% |
| Mar 7, 2023 | $-1.12 | $-1.04 | +7.1% | $19M | -1.5% |
| Aug 10, 2022 | $-0.20 | $-1.76 | -780.0% | $15M | +3.8% |
| May 11, 2022 | — | $-1.36 | — | $14M | +26.3% |
| Mar 31, 2022 | — | $0.48 | — | $11M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Brian O'Toole mentioned strong start to 2026 with up to $160 million in contract awards, Gen 3 capabilities fully operational delivering mission-critical intelligence. • Gen 3 continues to exceed expectations with 35 centimeter imaging performance, won over $60 million in new contract awards, and expected to grow the business by over 50% in 2026. • AI capabilities are operational, embedded in customer workflows, processing imagery and delivering actionable insights. • Gen 3 constellation: Successfully launched fourth satellite, on track to have at least eight Gen 3s on orbit this year. • Mission solutions: Sales pipeline growing due to Gen 3's on-orbit success and industry-leading performance. • Advanced technology programs: Announced major new contract with US Air Force Research Lab for advanced large aperture optical payload development.
Guidance
• Revenue guidance increased from $120 million - $145 million to $130 million - $150 million, representing over 30% growth at midpoint. • Adjusted EBITDA guidance increased from $6 million - $18 million to $12 million - $24 million, with 13% adjusted EBITDA margin at midpoint. • Reaffirmed capital expenditure guidance of $50 million - $60 million.
Segment performance
Space-based intelligence and AI services: First quarter revenue was $20.8 million, with Gen 3 coming into commercial operations and a 14% quarter-over-quarter increase. Expect to grow over 50% this year, achieving a $100 million annual run rate. Gross margins around 80%.
Analyst Q&A
Q: Brian, as it relates to the pipeline, can you talk to the quantity of pilots coming in the top of the funnel, how many have converted, etc.?
A: Jeff Benry from Craig Hallam. Brian said they secured next wave of customers in scale of a couple dozen, pilots start with six figure and move into seven and eight figure subscription contracts, pipeline looking good but hard to quantify timing.
Q: Any sense of mega deals?
A: Brian mentioned announced $30 million one-year subscription contract starting with six-figure pilot, seeing a lot of activity with major customers worldwide.
Q: Spectra and Analytics, new customer attach rates?
A: Jeff Benry. Brian said it's not just attachment rate, it's combination of dynamic monitoring, tasking, AI integration and short delivery timelines that's differentiated.
Q: Gen 3, influence on booking customers and revenue?
A: Brian said on track to get eight Gen 3s up this year, growth not limited by capacity.
Q: How Middle East conflicts impact growth?
A: Laura for Edison Yu. Brian said conflict amplifies need for long-term contracts for capacity, business not driven by singular events but amplifies importance of long-term contracts.
Q: AI roadmap?
A: Brian said AI is proprietary, purpose built for real time space-based intelligence, will continue to expand, incorporates third party technology but core is proprietary capabilities.
Q: Critical mass of Gen 3s for contract dollars?
A: Austin Muller from Canaccord Genuity. Brian said growth not dependent on rate of launching satellites, core capacity with Gen 2 and Gen 3 providing dynamic monitoring.
Q: Spectra's AI object classification vs peers?
A: Austin Muller. Brian said AI is operational today, validated by major defense and intelligence customers, models operational real time.
Q: EOCL revenue levels?
A: Greg Burns with Sedoti. Brian said assumption is current levels, multiple funding lines in fiscal year 26 budget being allocated, international now larger percentage of revenues.
Q: International pipeline and progression?
A: Billy on for Sheila Kayalu with Jefferies. Brian said growth from expanding with existing customers, adding new customers, pipeline growing, quality of Gen 3 demanding higher premium.
Q: Pipeline breakdown?
A: Chris Quilty with Quilty Space. Brian said proportionally growth in all three aspects: space-based intelligence and AI services, mission solutions, advanced technology programs.
Q: Competition for sovereign opportunities?
A: Scott Buck with Titan Partners. Brian said increasing competition but from companies without proven operational performance, Gen 3 has best-in-class performance.
Q: Pilot programs for Gen 3, use of analytics suite?
A: Preston Graham with StoneGate. Brian said customers start with basic operations like dynamic tasking, then add AI analytics as part of service.
Q: Supply chain constraints on Gen 3?
A: Preston Graham. Brian said on track, brought in Lea Stella to improve supply chain, ordered long-lead components for regular production cadence.