BlackSky Stock Slides On FY21 Revenue Outlook Cut; Bags NASA Contract

BlackSky Technology Inc BKSY reported third-quarter revenue growth of 49% year-over-year to $7.9 million, and +8% sequentially.
BlackSky's imagery & software analytical services revenue grew 18% Y/Y to $6.5 million, and engineering & system integration revenue was $1.4 million.
Loss per share was $(0.67), with $0.41 attributable to non-cash stock compensation.
The company reported an operating loss of $(48.9) million, compared to $(12.5) million in the prior-year period.
Adjusted EBITDA loss was $(16.2) million, compared to $(9.1) million a year ago.
FY21 Outlook: BlackSky reduced its revenue forecast to $30 million - $34 million (consensus $38 million), from the prior view of $40 million, citing the timing of new contract start dates and supply chain impacts due to the COVID-19 pandemic.
BlackSky also announced that it had secured a five-year, sole-source blanket purchase agreement from NASA to provide high revisit satellite imaging data supporting the agency's existing Earth observation research to advance predictive capabilities. The financial terms of the contract were not disclosed.
Price Action: BKSY shares are trading lower by 2.75% at $9.91 on the last check Friday.

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