BlackSky beat earnings estimates, raised 2026 revenue outlook, and reported strong contract growth amid rising satellite capacity.

BlackSky Technology reported fourth-quarter earnings of ($0.19) per share, beating expectations, with revenue rising 16% year-over-year to $35.2 million and full-year 2025 revenue at $106.6 million. The company achieved its second straight year of positive adjusted EBITDA, posted $240 million in new contract bookings, and saw international customers account for over half of revenue. A strong backlog of $345 million and plans to operate 8–9 Gen-3 satellites by end-2026 support its outlook. BlackSky raised its 2026 revenue guidance to $120–145 million, citing backlog conversion and satellite deployments, while noting revenue volatility tied to government funding timing. The stock traded at $20.19 with a market cap of $726.71 million.