- BlackSky Technology Inc BKSY reported fourth quarter revenue growth of 69% year over year to $19.42 million, miss the consensus of $19.62 million.
- Imaging and software analytics services revenue improved 196% year-over-year, and professional and technical services revenue was $3.25 million (-46.1% year-over-year).
- EPS loss was $(0.13), beating the consensus of $(0.16).
- Cost of sales as a percentage of sales was ~40% compared to ~89% in Q4 21.
- Operating loss for the fourth quarter totaled $(18.3) million versus $(31.9) million for the fourth quarter of 21.
- Adjusted EBITDA loss was $(4.6) million compared to $(14.4) million in the prior year.
- As of December 31, 2022, BKSY held $75 million in cash and cash equivalents. Net cash used in operations for the fiscal year totaled $($44.46) million compared to $($53.87) million in the prior year.
- BlackSky has taken out a multi-year subscription Awarded more than $150 million in contracts by a major international Department of Defense. BlackSky will provide this customer with next-generation space-based tactical geospatial information services. The company’s multi-year backlog grew to over $250 million.
- In addition, BlackSky a $29.5 million private placement by a consortium of new and existing institutional investors. The Company intends to use the net proceeds from the transaction for general corporate purposes and investments in its space and software platforms.
- Outlook for FY23: BlackSky expects FY23 revenue of $90-$96 million (consensus $105.89 million), up 42% Y/Y at mid-term.
- It expects FY23 capital expenditures to be between $40 million and $45 million.
- With strong revenue growth, high incremental contribution margins and prudent cost management, the company expects to achieve positive Adjusted EBITDA in the fourth quarter of 2023.
- Price promotion: BKSY shares are trading down 10.10% at $1.74 on the latest check Tuesday.
- Photo via company
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights…
[ad_2]
Source story
More to explorer
How to create cross-platform automations with Airtable and Make.com
February 1, 2025
In today’s fast-paced digital landscape, managing data and automating workflows across platforms is a necessity for businesses. Airtable and Make.com (formerly Integromat)
Why Offboarding Is a Critical Part of the Employee Lifecycle
January 8, 2025
While onboarding and employee development often take center stage in HR strategies, offboarding is an equally important part of the employee lifecycle
Using the MoSCoW Methodology to Enhance Agile and Waterfall Projects
January 8, 2025
Every successful project requires careful planning, prioritization, and execution. However, the path to success varies greatly depending on the methodology you choose.
