BKSY
BlackSky Technology Inc.

BlackSky Technology Inc.BKSY

Industrials · Specialty Business Services
21.33USD
+11.56%
Nov 08, 2026
BKSY overview ready
Commercial provider of high-revisit electro-optical satellite imagery and AI geospatial intelligence
BlackSky is a direct commercial provider of high-revisit electro-optical satellite imagery and AI-enabled geospatial intelligence to government, defense, intelligence, and international customers.
Primary theme is lagging
Space is lagging (-13.9pp vs SPY over 21 sessions; 2 of 11 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of base repair.
The tactical setup reads base repair, but the weekly structure is broken.
Fair valuation
The price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Dependence on government and defense contracts.
Market Nov 6Filing Sep 30Price action Nov 7Research Sep 30

Conviction Level

PriceAction6.3BusinessPerformance9.0BusinessQuality—Valuation5.9ThemeMomentum1.0Accelerating — Revenue growth has accelerated across 3 consecutive quarters, rising from -30% to +118% year over year. Earnings turned positive: diluted EPS of $0.10 against a loss of -$0.44 a year earlier. — Accelerating describes growth momentum measured in recent filed quarters. It is not proof that the acceleration will continue.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
SpaceLagging
vs SPY
−13.9pp
Theme return
−18.9%
Beating SPY
2 of 11
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of base repair.
The tactical setup reads base repair, but the weekly structure is broken.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly SMA100. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$883.0M
Avg Volume (60D)
996.8K
60 sessions
Revenue Growth YoY
+4.4%
FY2025 vs FY2024
Gross Margin
+48.6%
Trailing twelve months
Operating Margin
-22.8%
Trailing twelve months
Free Cash Flow Yield
-3.0%
Distance from 200DMA
-21.2%
P/E
N/M
EV / EBITDA
329.7x
EV / Sales
6.7x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Accelerating

Revenue growth has accelerated across 3 consecutive quarters, rising from -30% to +118% year over year. Earnings turned positive: diluted EPS of $0.10 against a loss of -$0.44 a year earlier.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+118%
$42.8M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +16%
  2. -30%
  3. +50%
  4. +118%
Earnings growthTurned profitable
$0.10
Diluted EPS $0.10 vs -$0.44 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginExpanding
0.9%
+86.7 pp YoY
The business is consuming cash
The share count is rising

Business Quality

Not assessed

Not assessed yet — the business is too early-stage for its economics to show in filings.

Fundamentals & Valuation

The available comparisons disagreed; the intrinsic comparison is the more reliable method for this business and the others are published as dissent.
BlackSky Technology Inc. has a Fair valuation stance because the price broadly reflects the strength of its balance sheet, with upside and risk reasonably balanced.

What changed

  • BKSY rose 11.6% in one session
    BKSY closed +11.6% while the broad market was close to flat (+0.3%).
    2026-11-06

Company Research

Thesis
BlackSky is a direct commercial provider of high-revisit electro-optical satellite imagery and AI-enabled geospatial intelligence to government, defense, intelligence, and international customers.
Opportunity
High opportunity
Government and allied defense/intelligence demand for commercially operated electro-optical Earth-observation constellations, high-revisit imagery, and analytics that supplement sovereign collection systems with rapidly taskable unclassified GEOINT.
Key risk
Dependence on government and defense contracts.

Economic classification

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Business & Markets

Industrials · Specialty Business Services
What they do

BlackSky Technology Inc. operates space-based technology systems providing high-revisit electro-optical satellite imagery and AI-enabled geospatial intelligence, integrating cloud computing and advanced analytics to support government and international customers.

How it earns

Primarily project-based and subscription revenue from government and defense contracts for imagery and intelligence services.

Products & services
BlackSky Spectra AI-enabled geospatial intelligence platform
High-revisit electro-optical satellite imagery
Cloud computing and hosting services
Customers & end markets
Government defense and intelligence agencies
International allied defense customers
Market position

Niche commercial provider specializing in high-revisit electro-optical satellite imagery and AI-enabled geospatial intelligence for government and defense sectors.

Demand drivers
Low cyclicality

Driven by steady government and allied defense spending with long-term contracts and strategic importance.

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