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BlackSky Shares Slide Post Q1 Results

By Akanksha Bakshi
  • BlackSky Technology Inc (NYSE:BKSY) reported first-quarter revenue growth of 91% year-over-year to $13.9 million, beating the consensus of $11 million.
  • Imagery and software analytical services revenue was $9.8 million (+63% Y/Y), driven by increased demand from new and existing government contracts.
  • EPS loss narrowed to $(0.17) from $(0.70) in 1Q21.
  • Gross margin contracted 330 basis points to 21.2% due to higher engineering and systems integration expenses.
  • The operating loss for Q1 totaled $(27.1) million versus an operating loss of $(9.5) million in 1Q21.
  • Adjusted EBITDA loss was $(9.5) million compared to a loss of $(6.2) million in the prior-year period.
  • Net cash used in operating activities totaled $(12.67) million in Q1, compared to $(10.58) million a year ago.
  • As of March 31, 2022, BlackSky's cash and equivalents totaled $138.4 million.
  • BKSY anticipates strong demand for its geospatial intelligence and analytic insights throughout the year.
  • FY22 Outlook reaffirmed: BlackSky expects revenue of $58 million - $62 million (consensus $61.5 million), which represents 76% growth Y/Y at the mid-point.
  • Price Action: BKSY shares are trading lower by 5.27% at $1.13 on the last check Wednesday.
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Dive Deeper:
Coupang Shares Soar Afterhours On Q1 Results, Clocks 22% Revenue Growth
Coupang Inc (NYSE:CPNG) reported first-quarter revenue growth of 22% year-over-year to $5.12 billion, +32% on a constant currency basis, missing the consensus…
Archer Aviation Shares Gains Post Q1 Results
Archer Aviation Inc (NYSE:ACHR) reported a first-quarter net loss of $(59.2) million, wider than the $(43.3) million loss in 4Q21 and narrower…
Hilton Grand Vacations Shares Slide Post Q1 Results; Plans Buyback
Hilton Grand Vacations Inc (NYSE:HGV) reported first-quarter FY22 sales growth of 231.5% year-on-year, to $779 million, beating the consensus of $763.90 million. Real…
Coffee Company BRC Shares Slide On Q1 Miss
BRC Inc (NYSE:BRCC) reported first-quarter FY22 sales growth of 35% year-on-year to $65.84 million, missing the consensus of $71.85 million. Direct Consumer revenue…
One subscription that gives you access to news from hundreds of sites
Exela Shares Plunge Post Q1 Miss
Exela Technologies, Inc (NASDAQ:XELA) reported a preliminary first-quarter FY22 revenue decline of 6.9% year-on-year to $279.4 million, missing the consensus of $284.9 million.…
Playboy Parent Shares Pop Post Q1 Results
PLBY Group Inc (NASDAQ:PLBY) reported first-quarter FY21 sales growth of 63% year-on-year to $69.38 million, beating the consensus of $68.53 million. Direct-to-consumer revenue…
Get all your news in one place