BlackSky Technology (NYSE:BKSY) Announces Earnings Results, Misses Estimates By $0.45 EPS

BlackSky Technology (NYSE:BKSY) issued its quarterly earnings results on Thursday. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45), Zacks reports. BlackSky Technology had a negative net margin of 89.07% and a negative return on equity of 72.20%. The business had revenue of $20.77 million for the quarter, compared to analysts’ expectations of $27.60 million.

Here are the key takeaways from BlackSky Technology’s conference call:

• Gen-3 inflection — Four Gen‑3 satellites are operational (4th launched in March and commissioned within days), and the company is on track for at least eight Gen‑3s on orbit this year, enabling daily 35 cm revisit rates and expanded high‑resolution capacity.
• The company raised full‑year revenue guidance to $130–$150M and adjusted EBITDA to $12–$24M, and expects >50% growth in space‑based intelligence & AI services to a >$100M annual run rate with roughly 80% gross margins for that segment.
• Backlog and wins strengthened — up to $160M in contract awards year‑to‑date, backlog of about $351M as of March 31 (≈$380M including early‑April contracts), and a new customer‑funded award of up to $99M with the U.S. Air Force Research Laboratory for advanced optical payload development.
• Q1 and liquidity — Q1 revenue was $20.8M with an adjusted EBITDA loss of $5.1M, but the company finished the quarter with $117.5M in cash/restricted cash/short‑term investments and total liquidity >$195M while keeping CapEx guidance at $50–$60M.
• Product differentiation — Proprietary AI operational in the Spectra platform delivers imagery plus analytics in under ~40 minutes, processing millions of detections and driving conversion of pilots into 7‑ and 8‑figure subscriptions, with strong international demand.

BlackSky Technology Stock Up 22.8%

NYSE:BKSY traded up $7.34 on Friday, reaching $39.58. 3,256,754 shares of the stock traded hands, compared to its average volume of 1,888,984. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -15.52 and a beta of 2.44. The company has a current ratio of 3.48, a quick ratio of 3.37 and a debt-to-equity ratio of 2.04. BlackSky Technology has a 12 month low of $9.88 and a 12 month high of $42.75. The company’s fifty day simple moving average is $29.24 and its 200 day simple moving average is $23.73.

Key Headlines Impacting BlackSky Technology

Here are the key news stories impacting BlackSky Technology this week:

• Negative Sentiment: BlackSky reported a wider-than-expected Q1 loss of $0.82 per share, well below the consensus loss estimate of $0.37. BlackSky Technology earnings release and conference call materials
• Negative Sentiment: Revenue came in at $20.77 million, missing analyst expectations of $27.60 million, reinforcing concerns about near-term execution. BlackSky Technology earnings release and conference call materials
• Positive Sentiment: Stonegate Capital said 1Q26 showed a clearer Gen-3 commercialization inflection, with accelerating sovereign contract adoption and improving revenue visibility. Stonegate Capital Partners coverage update
• Positive Sentiment: Management raised FY26 revenue guidance to $130 million-$150 million, which suggests confidence in demand and a stronger second half. Stonegate Capital Partners coverage update
• Neutral Sentiment: Investors are also focusing on the company’s Q1 2026 earnings call transcript for additional detail on backlog, contract timing, and the path to profitability. Seeking Alpha transcript

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BKSY. Canaccord Genuity Group lowered their price target on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. HC Wainwright reissued a “buy” rating and set a $42.00 price target on shares of BlackSky Technology in a research report on Friday, February 27th. Finally, Wall Street Zen raised shares of BlackSky Technology from a “strong sell” rating to a “hold” rating in a research report on Saturday, March 21st. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.40.

Institutional Trading of BlackSky Technology

A number of institutional investors and hedge funds have recently bought and sold shares of BKSY. Bank of New York Mellon Corp increased its stake in BlackSky Technology by 392.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,072,543 shares of the company’s stock valued at $38,860,000 after purchasing an additional 1,652,014 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in BlackSky Technology by 343.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 557,729 shares of the company’s stock valued at $4,311,000 after purchasing an additional 432,023 shares in the last quarter. Wasatch Advisors LP bought a new stake in BlackSky Technology during the 3rd quarter valued at about $8,278,000. State Street Corp grew its stake in shares of BlackSky Technology by 63.3% in the fourth quarter. State Street Corp now owns 996,019 shares of the company’s stock worth $18,675,000 after acquiring an additional 386,207 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of BlackSky Technology by 83.0% in the fourth quarter. Van ECK Associates Corp now owns 528,750 shares of the company’s stock worth $9,914,000 after acquiring an additional 239,821 shares during the period. 27.15% of the stock is currently owned by institutional investors.

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.