BKSY NYSE Radio & Tv Broadcasting & Communications Equipment Financials FY2018βFY2025
BlackSky Technology Inc. had $107M of revenue in fiscal 2025, up 4.4% on the year before.
Last close Β· Oct 23, 2026
$17.58
5.3%Hi! I read BlackSky Technology Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+4.4%
Only a little. Sales grew 4.4% last year.
Does it make a profit?
β65.9%
No. It lost money last year.
How healthy are the accounts?
2 / 8
Weak. It passes 2 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· BlackSky Technology Inc. had $107M of revenue in fiscal 2025, up 4.4% on the year before. Its operating margin was β44.0%, down 0.6Β pts: of every 100 in sales, about β44 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· BlackSky Technology Inc. lost $70.3M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $5.7M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$5.7M
4 insiders
Of sales under plans
30%
$1.7M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 20, 2026 | Henry Edward DuboisChief Financial Officer | Sold plan | 4,000 | $16.85 | $0.1M | Form 4 |
| Oct 20, 2026 | Brian E O'TooleCEO and President, Director | Sold plan | 20,000 | $16.86 | $0.3M | Form 4 |
| Oct 20, 2026 | Christiana L LinGeneral Counsel & CAO | Sold plan | 6,000 | $16.86 | $0.1M | Form 4 |
| Sep 21, 2026 | Brian E O'TooleCEO and President, Director | Sold plan | 20,000 | $22.88 | $0.5M | Form 4 |
| Sep 21, 2026 | Henry Edward DuboisChief Financial Officer | Sold plan | 4,000 | $22.97 | $0.1M | Form 4 |
| Sep 21, 2026 | Christiana L LinGeneral Counsel & CAO | Sold plan | 6,000 | $23.10 | $0.1M | Form 4 |
| Sep 11, 2026 | Brian E O'TooleCEO and President, Director | Sold | 56,280 | $20.95 | $1.2M | Form 4 |
| Sep 11, 2026 | Henry Edward DuboisChief Financial Officer | Sold | 15,225 | $20.95 | $0.3M | Form 4 |
| Sep 11, 2026 | Christiana L LinGeneral Counsel & CAO | Sold | 13,052 | $20.95 | $0.3M | Form 4 |
| Sep 9, 2026 | Brian E O'TooleCEO and President, Director | Sold plan | 20,000 | $21.83 | $0.4M | Form 4 |
| Aug 28, 2026 | Henry Edward DuboisChief Financial Officer | Sold plan | 4,000 | $23.78 | $0.1M | Form 4 |
| Jun 10, 2026 | Brian E O'TooleCEO and President, Director | Sold | 15,512 | $34.10 | $0.5M | Form 4 |
| Jun 10, 2026 | Henry Edward DuboisChief Financial Officer | Sold | 14,749 | $34.10 | $0.5M | Form 4 |
| Jun 10, 2026 | Christiana L LinGeneral Counsel & CAO | Sold | 12,001 | $34.10 | $0.4M | Form 4 |
| Dec 12, 2025 | Henry Edward DuboisChief Financial Officer | Sold | 12,912 | $19.27 | $0.2M | Form 4 |
| Dec 12, 2025 | Christiana L LinGeneral Counsel & CAO | Sold | 10,388 | $19.27 | $0.2M | Form 4 |
| Dec 12, 2025 | Brian E O'TooleCEO and President, Director | Sold | 13,416 | $19.27 | $0.3M | Form 4 |
| Dec 12, 2025 | Tracy WardSVP & Controller | Sold | 700 | $19.27 | $0.0M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· BlackSky Technology Inc. owes $84.6M more than it holds in cash.
Cash, debt and the ratios that show how comfortably BlackSky Technology Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $166M | $72.2M | $52.5M | $52.5M | $124M |
| Debt incl. finance leases | $71.4M | $76.2M | $83.5M | $110M | $209M |
| Debt / equity | 0.4x | 0.6x | 0.9x | 1.2x | 2.2x |
| Interest coverage | β23.3x | β16.0x | β6.0x | β3.6x | β3.1x |
| Current ratio | 5.9x | 3.3x | 2.9x | 4.1x | 3.5x |
| Quick ratio | 5.9x | 3.3x | 2.9x | 3.9x | 3.4x |
| Total assets | $306M | $234M | $224M | $254M | $386M |
| Total liabilities | $126M | $112M | $131M | $160M | $291M |
| Shareholders' equity | $180M | $122M | $93.2M | $94.0M | $94.9M |
| Net debt (β = net cash) | β$94.2M | $4.1M | $31.0M | $57.1M | $84.6M |
KIRA Β· Its return on capital was β20.6%: every 100 invested in the business earned about β21 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· BlackSky Technology Inc. passes 2 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 6 | β / 6 | 4 / 8 | 3 / 8 | 4 / 8 | 3 / 8 | 2 / 8 |
| Accruals ratio | β0.7% | β4.3% | 5.5% | β90.1% | β11.0% | β15.9% | β21.3% | β13.1% |
| Altman Z'' | β4.55 | β0.64 | β10.67 | β2.99 | β7.21 | β8.13 | β6.89 | β4.10 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | β | β | $0.0M | $34.1M | $65.4M | $94.5M | $102M | $107M |
| Research and development | β | β | $0.3M | $0.1M | $0.7M | $0.6M | $1.3M | $0.4M |
| Operating income | β$0.0M | β$0.3M | β$41.4M | β$120M | β$86.5M | β$56.0M | β$44.3M | β$46.9M |
| Interest expense | β | β | $5.2M | $5.2M | $5.4M | $9.3M | $12.2M | $14.9M |
| Pretax income | β$0.0M | β$7.1M | β$47.7M | β$244M | β$74.9M | β$53.2M | β$56.8M | β$70.1M |
| Income tax | β | $0.1M | $0.0M | $0.0M | $0.0M | $0.7M | $0.4M | $0.1M |
| Net income | β$0.0M | β$7.2M | β$19.5M | β$246M | β$74.2M | β$53.9M | β$57.2M | β$70.3M |
| Diluted EPS | $0.00 | β$0.98 | β$0.60 | β$3.39 | β$0.63 | β$3.18 | β$2.67 | β$2.09 |
| Diluted shares | 0.01B | 0.01B | 0.03B | 0.07B | 0.12B | 0.02B | 0.02B | 0.03B |
| Cash flow | ||||||||
| Cash from operations | β$0.0M | β$0.3M | β$31.7M | β$53.9M | β$44.5M | β$17.4M | β$6.4M | β$28.3M |
| Depreciation and amortization | β | β | $9.8M | $14.3M | $35.7M | $43.4M | $43.5M | $30.3M |
| Stock-based compensation | β | β | $2.0M | $42.6M | $20.0M | $10.9M | $11.2M | $14.2M |
| Balance sheet | ||||||||
| Cash and short-term investments | $0.0M | $37.2M | $5.1M | $166M | $72.2M | $52.5M | $52.5M | $124M |
| Total debt | β | β | $102M | $71.4M | $76.2M | $83.5M | $110M | $209M |
| Current assets | $0.0M | $1.3M | $18.2M | $179M | $88.5M | $79.3M | $107M | $207M |
| Current liabilities | $0.2M | $0.3M | $55.4M | $30.5M | $26.9M | $27.5M | $26.0M | $59.5M |
| Inventory | β | β | β | β | β | $0.0M | $6.0M | $6.2M |
| Property and equipment, net | β | β | $20.9M | $70.6M | $71.6M | $67.1M | $45.6M | $79.0M |
| Goodwill | β | β | $9.4M | $9.4M | $9.4M | $9.4M | $10.3M | $10.3M |
| Intangible assets | β | β | $3.8M | $2.5M | $1.9M | $1.4M | $5.4M | $4.4M |
| Total assets | $0.2M | $318M | $120M | $306M | $234M | $224M | $254M | $386M |
| Total liabilities | $0.2M | $33.2M | $153M | $126M | $112M | $131M | $160M | $291M |
| Preferred stock | β | β | $0.0M | $0.0M | β | β | β | β |
| Shareholders' equity | $0.0M | β$18.3M | β$32.8M | $180M | $122M | $93.2M | $94.0M | $94.9M |
| Margins | ||||||||
| Operating margin | β | β | β | β352.5% | β132.4% | β59.2% | β43.4% | β44.0% |
| EBITDA margin | β | β | β | β310.5% | β77.9% | β13.3% | β0.7% | β15.5% |
| Net margin | β | β | β | β720.7% | β113.5% | β57.0% | β56.0% | β65.9% |
| Returns | ||||||||
| Return on capital | β | β | β51.3% | β111.1% | β54.3% | β35.6% | β23.2% | β20.6% |
| Return on capital employed | β9.6% | β0.1% | β64.2% | β43.7% | β41.8% | β28.5% | β19.4% | β14.4% |
| Return on equity | β9.6% | β | β | β334.6% | β49.2% | β50.1% | β61.1% | β74.4% |
| Return on assets | β1.0% | β4.5% | β8.9% | β115.4% | β27.5% | β23.5% | β23.9% | β21.9% |
| Return on tangible equity | β9.6% | β | β | β146.4% | β67.1% | β65.4% | β73.1% | β87.6% |
| Growth | ||||||||
| Revenue growth | β | β | β | β | 91.7% | 44.6% | 8.0% | 4.4% |
| Share count change | β | β5.3% | 322.4% | 119.5% | 62.6% | β85.6% | 26.6% | 56.6% |
| Financial health | ||||||||
| Debt / equity | β | β | β | 0.4x | 0.6x | 0.9x | 1.2x | 2.2x |
| Interest coverage | β | β | β8.0x | β23.3x | β16.0x | β6.0x | β3.6x | β3.1x |
| Current ratio | 0.2x | 4.7x | 0.3x | 5.9x | 3.3x | 2.9x | 4.1x | 3.5x |
| Quick ratio | 0.2x | 4.7x | 0.3x | 5.9x | 3.3x | 2.9x | 3.9x | 3.4x |
| Capital allocation | ||||||||
| Stock comp / revenue | β | β | β | 124.9% | 30.6% | 11.5% | 10.9% | 13.4% |
| Quality scores | ||||||||
| Piotroski F-score | β | β | β | 4.0 | 3.0 | 4.0 | 3.0 | 2.0 |
| Altman Z'' | β4.6 | β0.6 | β10.7 | β3.0 | β7.2 | β8.1 | β6.9 | β4.1 |
| Accruals ratio | β0.7% | β4.3% | 5.5% | β90.1% | β11.0% | β15.9% | β21.3% | β13.1% |
Source: SEC EDGAR XBRL filings (CIK 0001753539). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
