BLACKSKY TECHNOLOGY Reports Third Quarter Earnings Results for 2023
November 20, 2023
🌥️Earnings Overview
On November 8, 2023, BLACKSKY TECHNOLOGY ($NYSE:BKSY) revealed their Q3 financial results for fiscal year 2023. With a revenue of USD 21.3 million, a 25.6% increase from the same period in the prior year, and net income of USD 0.68 million, which is a 105.2% surge compared to the previous year, the company’s financial performance is remarkable.
Price History
On Wednesday, BLACKSKY TECHNOLOGY reported their earnings results for the third quarter of 2023. The stock opened at $1.2 and closed at $1.2, down by 4.2% from the previous day’s closing price of $1.2. This decline in share price can be attributed to the company’s overall performance during the quarter, which was below expectations. This decrease was mainly due to a decrease in demand for the company’s products and services. The company’s gross profit margin also decreased significantly due to the weak demand for their products and services.
This was in spite of the company’s efforts to reduce costs and streamline operations. Furthermore, operating expenses also increased compared to the previous quarter, which contributed to the overall decrease in profitability for the company. Despite this, the company is confident that it will be able to return to profitability in the near future through cost cutting measures and other strategic initiatives. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Blacksky Technology. More…
| Total Revenues | Net Income | Net Margin |
| 78.4 | -64.88 | -93.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Blacksky Technology. More…
| Operations | Investing | Financing |
| -20.82 | -12.39 | 27.15 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Blacksky Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 212.79 | 120.66 | 0.66 |
Key Ratios Snapshot
Some of the financial key ratios for Blacksky Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -71.8% |
| FCF Margin | ROE | ROA |
| -45.8% | -39.0% | -16.5% |
Analysis
GoodWhale has been analyzing the financials of BLACKSKY TECHNOLOGY and has come up with an intermediate health score of 4/10. This indicates that BLACKSKY TECHNOLOGY is likely to be able to pay off its debt and fund future operations. After further analysis, we have classified BLACKSKY TECHNOLOGY as a ‘cheetah’, meaning that it has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. Investors who are looking for high growth potential may be interested in BLACKSKY TECHNOLOGY due to its strong growth prospects. However, it is important to consider that it has medium asset strength and weak dividend and profitability. Therefore, investors must weigh this risk against the potential reward when considering investing in this company. More…
Peers
As the market for space-based remote sensing services rapidly expands, BlackSky Technology Inc is facing stiff competition from DSG Global Inc, Vislink Technologies Inc, and Kleos Space SA. These companies are all vying for a share of the growing market for satellite imagery and data services. BlackSky Technology Inc has a strong suite of products and services, but its competitors are not far behind. The company will need to continue to innovate and differentiate its offerings in order to stay ahead of the competition.
– DSG Global Inc ($OTCPK:DSGT)
DSG Global Inc is a publicly traded company that designs, manufactures and sells GPS tracking and scoring products for golf courses and driving ranges. The company has a market cap of 9.01M as of 2022 and a Return on Equity of 60.09%.
DSG Global Inc’s products are used by over 3,000 golf courses and driving ranges in more than 30 countries. The company’s products are designed to improve the game of golf and the experience of playing it.
DSG Global Inc is headquartered in Vancouver, Canada and has offices in the United States, Europe and Asia.
– Vislink Technologies Inc ($NASDAQ:VISL)
Vislink Technologies Inc is a global provider of live video communications solutions. Its products are used in a variety of applications including news gathering, sports and entertainment, law enforcement and security, and drones. The company has a market cap of 18.37M as of 2022 and a return on equity of -21.63%.
The company’s products are used in a variety of applications including news gathering, sports and entertainment, law enforcement and security, and drones. The company has a market cap of 18.37M as of 2022 and a return on equity of -21.63%.
Vislink Technologies Inc is a global provider of live video communications solutions. The company’s products are used in a variety of applications including news gathering, sports and entertainment, law enforcement and security, and drones.
– Kleos Space SA ($ASX:KSS)
Kleos Space SA is a Luxembourg-based company that provides satellite-based radio frequency reconnaissance services. The Company designs, builds, launches and operates a constellation of microsatellites to provide global radio frequency reconnaissance data in order to locate, identify and track radio transmissions to support both government and commercial customers.
Summary
BLACKSKY TECHNOLOGY reported impressive financial performance for Q3 of fiscal year 2023 with total revenue of USD 21.3 million and net income of USD 0.68 million – representing year-on-year increases of 25.6% and 105.2%, respectively. Despite such encouraging results, the company’s stock price dropped on the same day. This could be attributed to investor pessimism or anticipation of a market correction in the near future.
To gain further insight into BLACKSKY TECHNOLOGY’s investment potential, analysts should assess its financial stability, competitive landscape, and market trends. Doing so can help investors make informed decisions about adding the stock to their portfolios.
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