BlackSky Technology Inc. (BKSY)

NYSE: BKSY · Radio & Tv Broadcasting & Communications Equipment · Herndon, VA · filing with the SEC since 2018

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Grade3.5

◀ Past 4.1● Present 4.0▶ Future 2.2

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of BlackSky Technology Inc.

Nine metrics read from its own filings, by tense

Headline grade

3.5/10

◀ Past4.130% of the headline

● Present4.040% of the headline

▶ Future2.230% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

4.1/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

1.2/10

Has it survived what it has been through?

4 warning events since 2018; the latest 2026-08-13.

weight 33% of this tense · 12th percentile among 21 sector filers · read for itself

From the record

BlackSky Technology Inc.'s filings since 2018 show 4 warning events of 4 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2026-08-13); a warning not to rely on past financial statements (8-K item 4.02, the latest 2021-05-10); an auditor change (8-K item 4.01, the latest 2021-09-15); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2021-05-17) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

7.1/10

What has it actually done, year after year?

+38.2% a year over 6 filed years; profitable in 0 of 6.

weight 45% of this tense · 71st percentile among 21 sector filers · read for its customers

From the record

BlackSky Technology Inc.'s 6 filed years say what it did: revenue went from $21 million in fiscal 2020 to $107 million in fiscal 2025, up 38.2% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span38.2%top 8% of its family
the share of years revenue rosetop 12% of its family
the share of filed years with a profitbottom 17% of its family
the deepest fall from a revenue peak0.0%top 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

2.1/10

How has it treated the people who own it?

SI estimate 2.1/10, confidence 35 of 100 (one part).

weight 22% of this tense · 21st percentile among 21 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 21% of 21 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 21 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: BlackSky Technology Inc.'s shareholder treatment is put at 2.1 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 21% of 21 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

4.0/1040% of the headline grade · 3 of 3 filed

Financial health

as filed

2.5/10

Is it financially healthy right now?

ROE -74%: lost 74¢ per shareholder dollar. Leverage 75%: owes 75¢ per asset dollar.

weight 45% of this tense · 25th percentile among 21 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, BlackSky Technology Inc. lost about 74 cents for every dollar of shareholders' money. Leverage: it owed about 75 cents per dollar of assets, and net share issuance: its share count grew 56.6% over the year (the filed statements).

What it rests on

what it owes per dollar of assetsbottom 26% of its family
return on equitybottom 28% of its family
the share count against the year beforebottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

4.8/10

How strong is its position in its industry?

bottom 48% of 21 in its family; net margin -65.9%.

weight 33% of this tense · 48th percentile among 21 sector filers · read for its customers

From the record

BlackSky Technology Inc.'s standing among 21 graded names in its industry family: revenue of $107 million in fiscal 2025 ranks in the bottom 45% by size; a net margin of -65.9% ranks in the bottom 26%; revenue growth of 17.7% a year over the last 3 filed years ranks in the top 27% (its annual reports).

What it rests on

revenue against the family$107Mbottom 45% of its family
net margin-65.9%bottom 26% of its family
three-year revenue growth17.7%top 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed

5.8/10

What are the people in charge doing?

top 42% of 13 in its family for leadership; chief executive since 2021.

weight 22% of this tense · 58th percentile among 13 sector filers · read for its shareholders

From the record

BlackSky Technology Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is O'Toole, Brian E (CEO and President, as filed), filing under that title since 2021-09-16, 5.2 years (bottom 35% of its family); the 10 officers and directors filing in the last fifteen months have been on the record a median of 5.2 years (bottom 42%); 1 officer or director change was reported on Form 8-K since 2023-11-13, against the 10 people in charge now (top 3%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

officer and director changes on Form 8-K, against the people in charge1 in three years among 10 peopletop 3% of its family
the median years the people in charge have filed5.2 yearsbottom 42% of its family
the chief executive's years on the record5.2 yearsbottom 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

2.2/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed

1.4/10

How much room does it have to grow?

bottom 13% of 21 in its family for room to expand.

weight 45% of this tense · 13th percentile among 21 sector filers · read for itself

From the record

BlackSky Technology Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $44 million against debt of $201 million leaves -40.8% of its assets as net cash, bottom 7% of its family; cash from operations less capital spending is -26.6% of revenue (bottom 31%); research spending of 0.4% of revenue (bottom 2%) (its annual report).

What it rests on

cash less debt against assets-40.8%bottom 7% of its family
cash from operations less capital spending against revenue-26.6%bottom 31% of its family
research spending against revenue0.4%bottom 2% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

2.8/10

What could actually drive growth from here?

bottom 28% of 21 in its family for growth drivers.

weight 33% of this tense · 28th percentile among 21 sector filers · read for its customers

From the record

BlackSky Technology Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 17.7% a year over the last three filed years against 38.2% over all 6, slowing (bottom 18% of its family); the newest year grew 4.4% (bottom 45%); research spending grew -16.3% a year (bottom 21%) (its annual reports). BlackSky Technology Inc. reported 3 product lines in fiscal 2025: Space Based Intelligence AI Services Service at $65 million (61%), Mission Solutions Product at $21 million (20%), Advanced Technology Programs.Service at $20 million (19%); 1 of 3 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-20.5 points a yearbottom 18% of its family
the newest year's revenue growth4.4%bottom 45% of its family
three-year growth of research spending-16.3%bottom 21% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

3.2/10

Did its newest year beat what its own record pointed to?

bottom 32% of 19 in its family for expectations against reality.

weight 22% of this tense · 32nd percentile among 19 sector filers · read for its shareholders

From the record

BlackSky Technology Inc.'s newest year against its own record: revenue of $107 million in fiscal 2025 came in 16.5% below the $128 million its prior three years' pace pointed to (bottom 8% of its family); net income of $70 million against a prior three-year average of $62 million (bottom 38%); a net margin of -65.9% against -75.5% before (top 50%) (its annual reports).

What it rests on

revenue against the prior three years' pace-16.5%bottom 8% of its family
net income against the prior three years' average-14%bottom 38% of its family
net margin against its prior average+9.6 pointstop 50% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BKSY · research, not advice