secwatch.observer — SEC 8-K summary
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Issuer:     BlackSky Technology Inc. (BKSY)
CIK:        0001753539
Form:       8-K
Filed at:   2025-05-08T23:59:59+00:00
Accession:  0001753539-25-000050
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BlackSky Q1 revenue up 22% to $29.5M, backlog grows 40% to $366M
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- Revenue $29.5M (+22% YoY); net loss improved to $12.8M from $15.8M.
- Backlog $366M (+40% QoQ) driven by $130M+ in new contract bookings, including $100M+ seven-year subscription.
- Cash balance up 43% vs prior quarter; first Gen-3 satellite fully commissioned, second on track for Q2 launch.
- Cost of sales as % revenue rose to 43% from 29% due to transfer of capitalized satellite asset for India contract.
- Adjusted EBITDA loss $0.6M vs positive $1.4M prior year, reflecting overhead from LeoStella operations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1753539/000175353925000050/0001753539-25-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1753539/000175353925000050/bksy-20250508.htm
  HTML page:      https://secwatch.observer/filing/0001753539-25-000050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer