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- BlackSky Technology Inc BKSY reported second-quarter revenue growth of 105% year-over-year to $15.1 million.
- Imagery & software analytical services revenue improved 161% Y/Y, driven by accelerated demand from the U.S. and international governments.
- As of June 30, 2022, BKSY held cash and equivalents of $111.2 million.
- EPS loss narrowed to $(0.22) from $(0.63) in 2Q21.
- Cost of sales as a percent of revenue was ~65% compared to ~87% in 2Q21.
- The operating loss for Q2 totaled $(21.71) million versus an operating loss of $(29.81) million in 2Q21.
- Adjusted EBITDA loss was $(8.8) million compared to a loss of $(7.6) million in the prior-year period.
- Net cash used in operating activities year-to-date totaled $(27.79) million, compared to $(21.11) million a year ago.
- FY22 Outlook: BlackSky raised its revenue expectations to $62 million-$66 million, from prior expectation of $58 million - $62 million, representing 88% growth Y/Y at the mid-point.
- Price Action: BKSY shares are trading higher by 12.3% at $2.92 during the premarket session on Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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