BlackSky Technology Secures Major Contracts, Advancing in Satellite Imagery and AI-Driven Analytics

BlackSky Technology Stock Is Soaring Thursday: What's Going On? - BlackSky Technology (NYSE:BKSY)

The five-year contract is worth up to $290 million and includes support for development of new emerging products like AI solutions. BlackSky Technology Inc BKSY shares are trading higher Thursday after the company was awarded a five-year contract to monitor global economic activity and military capabilities. What Happened: The U.S. National Geospatial-Intelligence Agency (NGA) awarded BlackSky Technology a multi-award indefinite-delivery, indefinite-quantity contract worth up to $290 million over five years. Under the contract, BlackSky will monitor global economic and environmental activity and military capability using satellite imagery and AI-driven change-detection analytics. The company expects to provide analytical services that detect and identify objects of interest such as aircraft, ships, vehicles and shipping containers. BlackSky will also detect changes to the Earth such as deforestation, construction, mining, flooding and other phenomena that contribute to climate change or wildfires. "The Luno A contract validates demand for BlackSky's commercial real-time, AI-driven dynamic monitoring services at massive scale," said Brian O'Toole, CEO of BlackSky Technology. "BlackSky's first-of-its-kind space-based intelligence system delivers answers to our customers' most pressing questions at industry-leading speed and economics." Don't Miss: Boeing Vs. SpaceX: Will Union Talk Stumbles, Space Travel Weaken Aerospace Giant's Standing Against Elon Musk's Company? Luno A is the follow-on contract to the NGA's $60 million Economic Indicator Monitoring contract which was originally awarded in 2021. The contract will also support the development of new and emerging products, data and services such as novel AI solutions. "BlackSky's commitment to automation across our entire architecture has had the cumulative effect of generating new, foundational machine learning tools for the U.S. government that will advance the key areas of focus for Luno A," O'Toole added. BKSY Price Action: BlackSky shares were up 6.61% at $5.32 at the time of publication, according to Benzinga Pro. Photo: PIRO from Pixabay. Market News and Data brought to you by Benzinga APIs

BlackSky Wins Approximately $6 Million Contract Expansion with Legacy International Defense Sector Customer for Assured, High-Frequency Satellite Imagery Services - BlackSky Technology (NYSE:BKSY)

Commitment increases annual subscription to nearly $18 million, extending access to reliable high-cadence Gen-2 services as BlackSky prepares to introduce advanced Gen-3 capabilities BlackSky Technology Inc. BKSY won an approximately $6 million contract expansion from an international defense sector customer, bringing the total annual commitment to nearly $18 million, for subscription-based Assured access to Gen-2, high-cadence, low-latency imagery services. "BlackSky is setting new standards for space-based intelligence operations as a trusted mission partner to the most demanding defense and intelligence customers in the world," said Brian O'Toole, BlackSky CEO. "We have established a new era of real-time monitoring where our current Gen-2 rapid-revisit capabilities add a level of reliable persistence and transparency over critical areas of interest. This contract renewal is a testament that our unique rapid-revisit capabilities are meeting market demand," said O'Toole. BlackSky's Assured access customers worldwide task and receive thousands of high-resolution images and analytics over priority areas of interest every month, gaining visibility and insight into border crossings, nuclear and port facilities, and other critical national security and economic infrastructure at massive scale. "We continue to see international customers lead the way by activating immediate space-based intelligence capabilities through BlackSky's software-first adoption model," said O'Toole. "When BlackSky brings advanced Gen-3 capabilities to market, we will close the traditional gap between spatial and temporal resolution," O'Toole said. "We expect that many of our current international Assured customers will be among the first to seamlessly incorporate very high-resolution 35 cm imagery and sub-hourly revisit and delivery timelines into their workflows as those capabilities become available." About BlackSky BlackSky is a leading provider of real-time geospatial intelligence. BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of the most critical and strategic locations, economic assets, and events in the world. BlackSky designs, owns and operates one of the industry's leading low earth orbit small satellite constellations, optimized to capture imagery cost-efficiently where and when our customers need it. BlackSky's Spectra AI software platform processes data from BlackSky's constellation and from other third-party sensors to develop the critical insights and analytics that our customers require. BlackSky is relied upon by U.S. and international government agencies, commercial businesses, and organizations around the world. BlackSky is headquartered in Herndon, VA, and is publicly traded on the New York Stock Exchange as BKSY. To learn more, visit www.blacksky.com and follow us on X (formerly Twitter). Certain statements in this press release may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this communication. We anticipate that subsequent events and developments will cause their assessments to change. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky's disclosure materials filed from time to time with the SEC which are available at the SEC's website at http://www.sec.gov or on BlackSky's Investor Relations website at https://ir.blacksky.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20241001887534/en/ Market News and Data brought to you by Benzinga APIs

BlackSky Wins Approximately $6 Million Contract Expansion with Legacy International Defense Sector Customer for Assured, High-Frequency Satellite Imagery Services

BlackSky Technology Inc. (NYSE: BKSY) won an approximately $6 million contract expansion from an international defense sector customer, bringing the total annual commitment to nearly $18 million, for subscription-based Assured access to Gen-2, high-cadence, low-latency imagery services. "BlackSky is setting new standards for space-based intelligence operations as a trusted mission partner to the most demanding defense and intelligence customers in the world," said Brian O'Toole, BlackSky CEO. "We have established a new era of real-time monitoring where our current Gen-2 rapid-revisit capabilities add a level of reliable persistence and transparency over critical areas of interest. This contract renewal is a testament that our unique rapid-revisit capabilities are meeting market demand," said O'Toole. BlackSky's Assured access customers worldwide task and receive thousands of high-resolution images and analytics over priority areas of interest every month, gaining visibility and insight into border crossings, nuclear and port facilities, and other critical national security and economic infrastructure at massive scale. "We continue to see international customers lead the way by activating immediate space-based intelligence capabilities through BlackSky's software-first adoption model," said O'Toole. "When BlackSky brings advanced Gen-3 capabilities to market, we will close the traditional gap between spatial and temporal resolution," O'Toole said. "We expect that many of our current international Assured customers will be among the first to seamlessly incorporate very high-resolution 35 cm imagery and sub-hourly revisit and delivery timelines into their workflows as those capabilities become available." About BlackSky BlackSky is a leading provider of real-time geospatial intelligence. BlackSky delivers on-demand, high frequency imagery, monitoring and analytics of the most critical and strategic locations, economic assets, and events in the world. BlackSky designs, owns and operates one of the industry's leading low earth orbit small satellite constellations, optimized to capture imagery cost-efficiently where and when our customers need it. BlackSky's Spectra AI software platform processes data from BlackSky's constellation and from other third-party sensors to develop the critical insights and analytics that our customers require. BlackSky is relied upon by U.S. and international government agencies, commercial businesses, and organizations around the world. BlackSky is headquartered in Herndon, VA, and is publicly traded on the New York Stock Exchange as BKSY. To learn more, visit www.blacksky.com and follow us on X (formerly Twitter). Forward-Looking Statements Certain statements in this press release may contain forward-looking statements within the meaning of the federal securities laws with respect to BlackSky. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. In addition, forward-looking statements reflect our expectations, plans, or forecasts of future events and views as of the date of this communication. We anticipate that subsequent events and developments will cause their assessments to change. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Additional risks and uncertainties are identified and discussed in BlackSky's disclosure materials filed from time to time with the SEC which are available at the SEC's website at http://www.sec.gov or on BlackSky's Investor Relations website at https://ir.blacksky.com.