Blacksky Technology Inc
NYSE:BKSY

  • LAST PRICE
    1.2200
  • TODAY'S CHANGE (%)
    0.0300 (2.5210%)
  • Bid / Lots
    1.1800/ 1
  • Ask / Lots
    1.2500/ 200
  • Open / Previous Close
    1.1900 / 1.1900
  • Day Range
    1.1700
    1.2300
  • 52 Week Range
    1.0400
    2.3650
  • Volume
    897,379

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  • May 9, 2024

  • May 8, 2024

      Show headlines and story abstract

    • 7:06AM ET on Wednesday May 08, 2024 by MT Newswires
      Companies Mentioned: BKSY
      07:06 AM EDT, 05/08/2024 (MT Newswires) -- ...

    • 7:01AM ET on Wednesday May 08, 2024 by Dow Jones
      Companies Mentioned: BKSY

    • 7:00AM ET on Wednesday May 08, 2024 by Business Wire
      Companies Mentioned: BKSY

      BlackSky Technology Inc. ("BlackSky" or the "Company") (NYSE: BKSY) announced results for the first quarter ended March 31, 2024.

      First Quarter Financial Highlights:

      Revenue of $24.2 million, up 32% from the prior year quarter Imagery & software analytical services revenue grew 13% over the prior year quarter Cost of sales, as a percent of revenue, related to imagery & software analytical services improved to 19% from 23% in the prior year quarter

    • 7:00AM ET on Wednesday May 08, 2024 by Dow Jones
      Companies Mentioned: BKSY
      2024 2023 ----------- ---------- Cash flows from operating activities: Net loss $ (15,810) $ (17,315) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization expense 11,184 9,655 Operating lease right of use assets amortization 191 446 Bad debt expense 100 -- Stock-based compensation expense 3,363 3,012 Amortization of debt issuance costs and non-cash interest expense 2,121 113 Loss (gain) on derivatives 254 (1,531) Non-cash interest income (267) (156) Income on equity method investment -- (529) Gain on disposal of property and equipment -- (22) Changes in operating assets and liabilities: Accounts receivable 1,388 (5,947) Contract assets - current and long-term (3,328) (591) Prepaid expenses and other current assets (195) 462 Other assets 344 (8) Accounts payable and accrued liabilities (2,354) (2,966) Other current liabilities 447 1,732 Contract liabilities - current and long-term (1,239) (2,951) Other liabilities (9) (6) ----------- ---------- Net cash used in operating activities (3,810) (16,602) ----------- ---------- Cash flows from investing activities: Purchase of property and equipment (3,297) (2,874) Satellite procurement work in process (11,347) (12,926) Purchases of short-term investments (9,464) (11,792) Proceeds from maturities of short-term investments 9,000 38,110 ----------- ---------- Net cash (used in) provided by investing activities (15,108) 10,518 ----------- ---------- Cash flows from financing activities: Proceeds from equity issuances, net of equity issuance costs 1,298 29,432 Proceeds from options exercised 1 3 Withholding tax payments on vesting of restricted stock units (419) -- Payments for deferred financing costs (18) -- Payments for deferred offering costs -- (552) Payments of transaction costs related to derivative liabilities -- (16) ----------- ---------- Net cash provided by financing activities 862 28,867 ----------- ---------- Net (decrease) increase in cash, cash equivalents, and restricted cash (18,056) 22,783 Cash, cash equivalents, and restricted cash -- beginning of year 33,434 37,016 ----------- ---------- Cash, cash equivalents, and restricted cash -- end of period $ 15,378 $ 59,799 =========== ========== BLACKSKY TECHNOLOGY INC. RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA (unaudited) (in thousands) Three Months Ended March 31, -------------------------------------- 2024 2023 ----------- ---------- Net loss $ (15,810) $ (17,315) Interest income (400) (435) Interest expense 2,634 1,853 Income tax expense 70 113 Depreciation and amortization 11,184 9,655 Stock-based compensation expense 3,363 3,012 Loss (gain) on derivatives 254 (1,531) Severance 81 88 Income on equity method investment -- (529) Transaction costs associated with debt and equity financings -- 905 Investment loss on short-term investments -- 55 ----------- ---------- Adjusted EBITDA $ 1,376 $ (4,129) =========== ========== BLACKSKY TECHNOLOGY INC. RECONCILIATION OF OPERATING EXPENSES TO CASH OPERATING EXPENSES (unaudited) (in thousands) Three Months Ended March 31, -------------------------------------- 2024 2023 ------------ --------- Operating expenses $ 30,456 $ 28,820 Stock-based compensation for selling, general and administrative costs (3,148) (2,737) Depreciation and amortization (11,184) (9,655) ------------ --------- Cash operating expenses $ 16,124 $ 16,428 ============ =========

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