“Adjusted EBITDA Adjusted EBITDA is defined as net income or loss attributable to us before interest income, interest expense, income tax expense or benefit, depreciation and amortization, as well as significant non-cash and/or non-recurring expenses as our ma…”10-Q · May 7, 2026 ↗
BlackSky Technology Inc.
BKSY
Market read
BlackSky Technology Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- BKSY's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if BKSY's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- BKSY's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Demand and volume has repeated favorable evidence across 4 filings.
- Net margin changed -9.9 percentage points in the latest annual period.
- Credit and interest rates has repeated adverse evidence across 4 filings.
- Product pipeline and R&D has repeated adverse evidence across 3 filings.
- EV/sales is 70% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
20.76Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The increases in net cash used in operating activities were partially offset by a cash receipt for prepaid capacity for future purchase orders that is recorded as a contract liability as of December 31, 2025 in our consolidated balance sheets.”10-K · Mar 17, 2026 ↗
“These decreases were partially offset by costs to provide advanced research and development services to an existing customer to develop next-generation space-based intelligence capabilities.”10-Q · May 7, 2026 ↗
“The total amount paid for capital expenditures increased during the three months ended March 31, 2026 as compared to the three months 39 Table of Contents ended March 31, 2025 primarily due to an increase in cash paid to procure direct materials and build our…”10-Q · May 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 6.5× · EV/sales 8.0×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BKSY. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for BKSY. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind BKSY
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MSFTMicrosoft CorporationpartnerMar 17, 2026 ▾
“We depend on computing infrastructure operated by Amazon Web Services (“AWS”), Microsoft, and other third parties, including other SaaS companies, to support some of our customers, and any errors, disruption, performance problems, or failure in their or our o…”
Depended on by
SIDUSidus Space, Inc.competitorApr 1, 2026 ▾
“Sidus competes with a range of commercial space companies including Spire, BlackSky, Hawkeye 360, Satellogic, Iceye, Loft Orbital, York Space Systems, Apex, and K2Space, as well as larger aerospace and defense contractors.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 1 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BKSY is currently a Follower in the organic co-movement group Space & Advanced Tech. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for BKSY; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.